Global Probiotic Market: Overview
The global probiotic market is expected to be primarily driven by the rising awareness among consumers regarding gut health enhancement. Growing consumption of functional food products and increasing efficiency of probiotic bacteria is further expected to bode well for the global probiotic market’s growth. The demand for probiotic is expected to intensify over the next couple of years owing to the burgeoning awareness among consumers regarding the health benefits associated with probiotic consumption and the ban on the consumption of antibiotics across several nations. The rising demand for probiotic from emerging nations is expected to further provide lucrative growth opportunities to manufacturers of probiotic in the near future.
The global market for probiotic is also fueled by the growing efficiency of probiotic bacteria and the inclination of consumers towards their digestive health. Incessant efforts are being made by companies and healthcare organizations to enhance the consumer base of probiotics across the globe. The health benefits that probiotics provide the consumer with are helping in the treatment of diseases related to the vagina, urinary tract, and skin and conditions such as infectious diarrhea, irritable bowel syndrome, and inflammatory bowel disease. However, companies need to combat the dearth of standardization in the global probiotic market.
The global probiotic market is expected to expand at a CAGR of 7.40% from 2014 to 2020. The market was worth US$62.6 bn in 2014 and is projected to touch a valuation of US$96 bn by 2020.
Food and Beverages to Emerge as Key Application
In terms of application, the global probiotic market is segmented into animal feed, food and beverages, and dietary supplements. Among these, food and beverages led the market in 2013 and is expected to retain a dominant position until 2020. The food and beverages segment is expected to exhibit a CAGR of 7.20% between 2014 and 2020. The growth of this segment can be attributed to the growing inclination of consumers towards healthy food and beverage products and the shift in lifestyle. The consumption of dietary supplements as a part of functional foods to improve the health consumers is likely to rise over the forthcoming years. This particular trend is expected to continue over the forecast period. Growing disposable income of consumers and rising living standards, basically in developing economies are also likely to fuel the consumption of probiotic in food and beverages.
Among the two end-use segments, human probiotics and animal probiotics, the human probiotics segment led the market and is expected to retain the lead in the near future.
Asia Pacific to Surge Ahead of other Regions in terms of Consumption
Region-wise, the global probiotic market is classified into Asia Pacific, North America, Europe, and the Rest of the World. In 2013, Asia Pacific led the market and is estimated to maintain a dominant position until 2020 rising at a CAGR of 7.10%. The primary reason behind the extensive growth of this market is the mounting demand for probiotics in countries such as India, China, Japan, and Australia. Europe is also considered to be one of the leading markets of probiotics with France and Germany emerging as key consumer countries in the region. Although at present North America holds a minute share in the global probiotic market, it is projected that in future the region will exhibit promising growth.
The prime companies in the global probiotic market are Chr. Hansen, Yakult Honsha Co., Nestle S.A., Mother Dairy, General Mills Inc., Lifeway Foods Inc., Groupe Danone S.A., and BioGaia AB among others.
The research report on the global probiotic market presents an in-depth analysis with the help of market-related figures and facts. It further emphasize on the demand and supply strategies, product segmentation, recent developments, and the competitive landscape of the global probiotic market. The research study further covers the driving and restraining factors of the global probiotic market.
According to the research report, the global probiotic market is expected to witness high growth in the coming years owing to the growing awareness regarding the benefits associated with the consumption of probiotics.
The key information and figures mentioned in this report are derived on the basis of primary and secondary information. The report also includes useful inputs and strategic recommendations from industry experts. SWOT analysis, Porter’s five forces analysis, and value chain analysis are the analytical tools that the analysts have used to determine the growth opportunities and challenges of the global probiotic market.
The probiotic market is segmented on the basis of application, end user, and strain type. The application segments of the market include dietary supplements, food and beverages, and animal feed. By end user, the market is segmented into animal probiotics and human probiotics. By strain type, the market is divided into yeast, streptococcus, lactobacillus, bifidobacterium, and spore formers.
Overview of the Global Probiotic Market
The global probiotic market, in 2014, was valued at US$62.6 bn and is estimated to reach a value of US$96 bn by the end of 2020. This market is projected to exhibit a progressive 7.40% CAGR between 2014 and 2020.
The growing awareness regarding the enhancement of gut health, increasing consumption of functional foods, and the high efficiency of probiotic bacteria are some of the major factors accountable for the development of the global probiotics market. Moreover, the rising awareness regarding the health benefits of probiotics, growing demand for probiotics from developing economies, and the ban on the use of antibiotics in animal feed are the major factors that are expected to fuel the growth of the global probiotics market in the next five years.
On the flip side, the lack of appropriate standardization in the global probiotics market is the key factor that is expected to hamper the growth of this market in the next few years.
The global probiotics market is segmented by geography into Europe, North America, Asia Pacific, and Rest of the World. Among these regions, in 2013, Asia Pacific led the global probiotics market and is expected to continue in the leading position throughout the forecast period, exhibiting a healthy 7.10% CAGR between 2014 and 2020. The rapid growth of the Asia Pacific probiotics market is due to the growing demand from countries such as Australia, China, India, and Japan. After Asia Pacific, the Europe probiotic market holds the second position in the global market. France is expected to exhibit a 6.60% CAGR and Germany is projected to register a 6.80% CAGR between 2014 and 2020. Presently, the North America probiotics market accounts for a very tiny share in the global market; however, this region is expected to witness a high growth rate in the next few years.
Companies mentioned in the research report
The prominent players operating in the global probiotic market are Nestle S.A., China-Biotics, Inc., E. I. duPont de Nemours and Company, General Mills, Inc., Lifeway Foods, Inc., PROBI AB, BioGaia AB, Yakult Honsha Co., Ltd., Mother Dairy, Groupe Danone S.A., and Chr. Hansen. The growing popularity of probiotics worldwide has attracted many new players to participate in this market.
Key Segments of the Global Probiotic Market
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
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments