The global probiotic market is characterized by the dynamic nature of customer demands and preferences. The market is also characterized by its fragment nature. The global probiotic market is marked by the presence of both small and large vendors in large numbers across the globe. Vendors are competing with each other on the basis of price, quality, distribution, and innovation. Competition in the market is expected to rise, states a report published by Transparency Market Research (TMR), on account of various technological advancements made by several players. Some of the players within this market are: Mother Dairy, Yakult Honsha Co., Chr. Hansen, Lifeway Foods Inc., Nestle S.A., General Mills Inc., BioGaia AB, and Groupe Danone S.A.
According to TMR, the global probiotic market is anticipated to be worth US$96 bn by 2020. On the basis of application, the market for food and beverages will expand at a 7.20% CAGR between 2014 and 2020. By end use, the human probiotics segment will continue to lead in the coming years. on the basis of geography, the market is anticipated to continue to be led by Asia Pacific on account of the high demand from India, China, Japan, and Australia. Europe will also be a key market for probiotics on account of healthy demand from Germany and France in the coming years. North America currently holds less shares but could reflect positive growth in the years to come.
Numerous Health Benefits of Consuming Probiotics Appeal to Well-informed, Health Conscious Consumers
One of the factors fueling the demand for probiotics is the growing awareness among consumers regarding the health benefits of the same. The improvement in digestive health brought about by probiotics will fuel their demand in the years to come. The growing consumption of functional foods and role of probiotics in preventing bacterial vaginosis, urinary tract infection, and yeast infection among women are some of the other factors driving their consumption. Probiotics help lower pH levels and this helps in improving the interstitial microbial balance. The efforts to increase the awareness level of the benefits of consuming probiotics is increasing in emerging economies and thus, the market will see a potential scope of growth in emerging nations. The improved bowel movements and enhanced nutrient absorption brought about by the consumption of probiotics will also help fuel their demand.
Ease of Availability of Ready-made Functional Drinks to Boost Growth of Market
On the other hand, a lack of standardization is a key issue within the probiotics market. However, the introduction of ready-made functional drinks enabling consumption on-the-go shall act as a growth driver for this market. The convenience offered and ease of availability will generate tremendous profits for market players in the coming years. supermarkets, hypermarkets, and convenience stores are compelled to provide customers with these drinks on account of their growing popularity. This will also drive the market.
This review of the market is based on a recent report published by Transparency Market Research, titled “Probiotic Market - (By Application - Food and Beverages ,Dietary Supplements , Animal Feed; End Users - Human Probiotics , Animal Probiotics) - Global Industry Analysis, Size, Share, Growth and Forecast 2014 - 2020.”
Global Probiotics Market, by Application
- Food and beverages
- Dietary supplements
- Animal feed
Global Probiotics Market, by End Use
- Human probiotics
- Animal probiotics
Global Probiotics Market, by Strain Types
- Spore Formers
Global Probiotics Market, by Geography
- North America
- Asia Pacific
- Rest of the World
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