The probiotics market is estimated at USD 49.4 Billion in 2018 and projected to grow at a CAGR of 7.0%, to reach USD 69.3 billion by 2023. The growth of the market is driven by factors such as health benefits associated with probiotic-fortified foods and technological advancements in probiotic products. Key drivers for the market’s growth are the increasing use of high nutritional content in foods due to increasing consumer awareness about healthy diets. An Asian country, particularly in Japan, the increase in the aging population is a lucrative opportunity for the sale of probiotic supplements in the region. One of the major restraints in the growth of the market is the international quality standards, regulations for probiotic products, and the high R&D costs for developing new probiotic strains.

Recent Developments:

• In June 2018, Chr. Hansen expanded its product strain library for the development of next-generation probiotics. 
• In August 2017, DuPont expanded its probiotic facility in Madison, Wisconsin, US. The company made an investment of USD 10 million. The motive behind the expansion was to further expand its presence in the probiotics market.
• In October 2017, Kerry acquired the US-based probiotics player Ganeden. The company entered into the probiotics business through this acquisition.

Reff: https://www.marketsandmarkets.com/Market-Reports/probiotic-market