Probiotics Market Size USD 47.1Billion in 2018, CAGR of 6.8%, Probiotics Industry Trends The high product development costs is a key restraint

New York, Feb. 06, 2020 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global probiotics market was USD 47.1 Billion in 2018 and is projected to grow at a CAGR of 6.8% from 2019 to 2026. The World Health Organization (WHO) defines these products as live microorganisms which, when administered in sufficient amounts, confer a health benefit on the host. To be labeled as probiotic, scientific evidence for the health benefit have to be documented by the manufacturer to regulatory authorities such as FDA or European Commission. They play a significant role in preventive healthcare as they prevent the occurrence of diseases by strengthening the immune system. Also, the increasing demand has shown that customers prefer products with proven benefits.

The growing evidence of well-being benefits affiliated with probiotics for health restoration has improved the customer expectations related to probiotics for health curing functions. This inclination toward a natural, safe, and cost-effective substitute for drugs has led the application of products as pharmaceutical agents. Clinical trials have revealed that they may cure specific diseases or disorders in humans, especially those related to the gastrointestinal tract.

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However, ample investments in R&D activities and investments in research equipment, laboratories, and the high cost of hiring trained professionals are expected to create barriers for the growth of the market. The scientific validation concerning the usage of probiotics in their applications becomes a breakthrough to the market. Applications are correlated with health benefits, which make it challenging for industry players to get a satisfactory return on investments on high initial investments due to the high intensity of competition from pharmaceutical, biotechnological and food and beverage industries to establish their foot print in the market.

Probiotics strains and products are developed and produced as per the international food regulations such as Food and Agriculture Organization of the United Nations (FAO) and WHO. Marketing of these products also adds to the product price, as they require different packaging and distribution channels as compared to conventional products. Due to the steep cost of production, the cost of the ultimate outcome is also at a high value.

The Asia Pacific region is foreseen to be the fastest-growing market with CAGR 7.6% during the forecast period, due to the increasing disposable income and the boom in demand for dietary supplements, along with the burgeoning technology base, spanning to the increased demand for probiotics in the region. The rapid commercial growth in countries such as Brazil, Argentina, China, and Japan has led to a notable accretion in the disposable incomes of livestock owners. This, in turn, is spurring the demand for probiotics-based food, making Asia Pacific the fastest-growing market globally. According to a report, the Indian market is growing at a CAGR of 6% in 2018, which is showing profitable opportunities for the companies.

Further key findings from the report suggest

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Segments covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the probiotics market on the basis of ingredient, function, form, application, end use, distribution channel, and region:

Function (Qualitative analysis)

Ingredient (Revenue, USD Million; 2019-2026)

Form (Revenue, USD Million; 2019-2026)

Application (Revenue, USD Million; 2019-2026)

End user (Revenue, USD Million; 2019-2026)

Distribution Channel (Revenue, USD Million; 2019-2026)

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Regional Outlook (Revenue in USD Million; 20162026)

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Probiotics Market To Reach USD 78.3 Billion By 2026 | Reports And Data - Yahoo Finance