Growing consumer awareness about digestive health is anticipated to add significant impetus to the global probiotics market share over the forecast spell. Likewise, myriad other factors like the rising number of meat consumers and robust demand for nutritional products to boost the immune system due to increased risks of COVID-19 infection will contribute to the surging intake of probiotic supplements worldwide.
Over the past years, digestive disease specialists are recommending the intake of probiotic supplements over conventional medicines for disorders such as irritable bowel syndrome. Since the middle of the 1990s, clinical trials have revealed the effectiveness of probiotic therapy in the treatment of gastrointestinal diseases, allergies in children, and vaginal and urinary infections among women. These aforesaid probiotics benefits will expand the scope of the industry over the projected timeframe.
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As per Global Market Insights, Inc. estimates, the global Probiotics Market size surpassed USD 4.30 billion in 2020 and is likely to grow at a CAGR of 8.7% between 2021 and 2027.
In terms of segmentation by ingredients, the streptococcus segment is set to depict nearly 9% CAGR through 2027, owing to its capability to improve food digestion, nutrient absorption, and protection against pathogenic microorganisms, thereby preventing diarrhea. In addition, this type of ingredient serves as a common starter culture to prepare yogurt, cheese, and other cultured dairy products.
On the other hand, the global probiotics market from the bacillus ingredients segment will register remuneration of over $250 million by 2027, which is attributable to its increased resistance to gastric acid and heat, alongside its usage for the treatment of diarrhea and constipation.
With regards to the applications spectrum, the dietary supplements segment is likely to accrue hefty profits over the forthcoming years, on account of the mounting adoption of the different types of probiotics to treat urinary tract infections, ulcerative colitis, diarrhea, and other health conditions. In the wake of the COVID-19 pandemic, consumers are also gaining high awareness about the advantages of probiotics benefits in boosting immune health. The dietary supplements segment is further categorized into infant formula, food, specialty nutrients and nutritional supplements. Of these, the nutritional supplements application segment will record over 9% gains by 2027, as a result of the targeted consumption of specific bacterial strains and their allergy-free nature.
The food & beverages application segment is further bifurcated into dairy products, cereals, non-dairy products, baked food, dry food, and fermented meat products. Of these, the non-dairy products segment will hold an appreciable share, owing to the high incidence of allergic reactions to dairy products and lactose intolerance. Additionally, the cereals segment recorded revenue worth more than $65 million in 2020, which was attributable to the strong emphasis of product manufacturers on innovative product launches.
Furthermore, the global probiotics market from the baked food application segment will be valued at more than $50 million by 2027, which can be credited to the rising trend of baked product fortification to build immunity.
On the regional front, the North America probiotics market registered more than $245 million in revenue in 2020 and is projected to expand at a considerable rate over the foreseeable future, due to the significant increase in the adoption of probiotics in animal feeds, as a result of the U.S. FDA regulations to ban the use of antibiotics to surge the livestock growth performances. The regional industry expansion is also stimulated by the rising product adoption as an NGP (natural growth promoters) in animal feeds to drive growth rate, improve gut health, and increase resistance to microbial infections.
The Latin America probiotics industry is poised to exhibit a CAGR of around 8.5% through 2027, on account of the escalating consumption of functional food and beverages due to the evolving dietary patterns.
Major probiotics market participants are focusing on implementing strategies such as innovative product launches, business expansions, and M&A to gain a competitive edge over other rivals in the market. For example, in November 2020, Beroni Group announced the launch of Beilemei, a probiotics health product in China, designed with an objective to modulate the balance of human intestinal flora.
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