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probiotics market Analysis, insight 2021

Global probiotics market was worth USD 57.4 Billion in 2020 and is further projected to reach USD 97.8 Billion by 2027, at a CAGR of 8.0% during 2021-2027 (forecast period).

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probiotics market Analysis, insight 2021

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  1. Probiotics Market, By Ingredient, Trend Analysis, Competitive Market Share & Forecast, 2021-2027

  2. ProbioticsMarket- Industry Trends & Forecast Report 2027 A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that global probiotics market was worth USD 57.4 Billion in the year 2020. It is estimated to grow at a CAGR of 8.0%, earning revenue of around USD 97.8 Billion by the end of 2027.  As consumers become aware of the importance of digestive health, as well as the rising demand for high-quality foods and animal-based products, the demand for probiotics will continue to grow. One can easily find it in the form of supplements or components in food and beverages. Probiotics are expected to grow in the near future, but the high cost of research and development for breakthrough strains and international quality standards is likely to hamper growth.

  3. Growth Drivers  Growing health concerns Weight problems, digestive disorders, urinary infections, gastrointestinal infections, and other health problems are becoming more prevalent. Therefore, several key players in the market have been developing probiotic products to cure these diseases. Inulin and pectin, two probiotics that offer many health benefits and help reduce the frequency and duration of diarrhea and inflammation and symptoms of intestinal gastrointestinal disorders, are driving the growth of the global probiotics market. Additionally, several European and North American countries have banned the use of antibiotics in animal feed, to protect the health of animals, thus, powering the growth of the global probiotics market.

  4. Restraints  Most consumers are unaware of how to shop for and purchase probiotic foods, and this discourages the growth of the global probiotic market. Most people are still unaware that probiotic foods exist. A lack of knowledge about probiotics and their beneficial effects sometimes leads to the consumption of the wrong type of probiotics, which may not have the desired effect. The demand for probiotics will increase as people realize the benefits that can be derived from them.

  5. Impact of COVID-19 in industry With the outbreak of COVID-19, a huge spike in the demand for immunity-boosting food products and supplements has been noticed. A probiotic can boost the immune system and prevent gastrointestinal pathogens, as well as promote the production of natural antibodies in the body. Many forms of probiotics are available in retail stores and medical pharmacies. Because of the fear of becoming infected during the pandemic, people have adopted healthier lifestyles and increasingly started taking probiotic supplements. Considering how prevalent virus infection is among individuals of all ages, manufacturers are producing probiotics that can have positive effects on each of them, which in turn is driving the global probiotics market forward.

  6. Regional Insight Based on regions, the global probiotics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The forecast period is likely to see North America as the fastest-growing region. Growth in the US probiotic market is expected to be the primary driving force. Probiotics are increasingly being used in the food industry due to a growing preference in the country for healthy and functional foods. The Asia-Pacific market, however, holds a major share of the global probiotics market and is expected to grow at the highest CAGR during the forecast period. The growth of the probiotics industry can be attributed to the rising application industries in the region.

  7. Competitive landscape The key players in the global probiotics market are CHR-Hansen A/S (Denmark), Novozymes A/S (Denmark), Lallemand Inc. (Canada), Probi AB (Sweden), Kerry Group (Ireland), Sabinsa Corporation (US), DowDupont Inc. (US), Synbio Tech Inc. (Taiwan), Roelmi HPC (Italy), UAS Laboratories LLC (US), ProbioticalSpA (Italy), Greentech SA (France), Biosearch, SA (Spain), and BioCC OÜ (Estonia) and other manufacturers.Sample copy :https://www.blueweaveconsulting.com/report/global-travel-retail-market/report-sample

  8. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  9. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

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