CHICAGO, April 24, 2019 (GLOBE NEWSWIRE) -- According to the market research report “Probiotics Market by Application (Functional Food & Beverages [Dairy Products, Non-dairy Beverages, Infant Formula, Cereals], Dietary Supplements, Feed), Ingredient (Bacteria, Yeast), Form (Dry, Liquid), End User, and Region – Global Forecast to 2023”, published by MarketsandMarkets™, the market for probiotics is projected to grow at a CAGR of 7.0%, to reach USD 69.3 million by 2023. Due to the growing awareness among customers about their direct relations to digestive health benefits, the rise in demand for nutritious food, & the increase in demand for quality animal-based products.
The food & beverage segment is projected to be the largest revenue contributor in the probiotics market during the forecast period.
The food & beverage segment is accounted to hold the largest share of the probiotics market in 2018. The global probiotics market is currently driven by the rising popularity of probiotic functional foods & beverages among consumers. Some of the foods containing probiotic bacteria which are gaining popularity among the consumers include ice cream and other frozen dairy desserts, flavored liquid milk, fermented milk, milk powder, & other milk products such as cheese & buttermilk. Factors such as lactose intolerance have led to the development of non-dairy foods which make use of probiotic bacteria. Some of these food products include fruit juices, baby food, and breakfast cereals.
The human probiotics segment is projected to hold the largest market, by end user, during the forecast period.
Probiotics are considered an important ingredient in human nutrition. It finds use in the prevention and treatment of gastrointestinal infections, bowel disorders, & urinary tract infections (UTI). Probiotics are available in the form of food products or dietary supplements for direct consumption. The growing concern among people about the health benefits associated with the intake of probiotics aids in the growth of this market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=69
The Asia Pacific is projected to account for the largest market size during the forecast period.
The APAC region is projected to be the key revenue pocket in coming years due to the rise in demand for convenience products due to a hectic lifestyle led by the consumers. For instance, yogurt is a popular food among the Chinese due to which manufacturers such as General Mills (US) & Danone (France) have been launching new products catering to the tastes of the consumers.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com