Global Probiotic Market: Rising Concerns Regarding Healthcare to Fuel Market Growth

In recent times, the global probiotic market has reported an impressive growth in its market value. The rise in the awareness regarding the improvement of gut health, resulting in the increasing consumption of functional foods, has fueled the demand for probiotics in the global arena. In 2014, the worldwide probiotic market stood at US$62,691.9 mn. According to experts’ predictions, this market is likely to expand at a CAGR of 7.40% between 2014 and 2020 and reach a value of US$96,046.8 mn by the end of 2020.

The increasing concerns over health among consumers, coupled with rising demand for probiotics from the food and beverages industry, is likely to trigger the market for probiotics to a significant extent. However, the dearth of knowledge pertaining to the benefits offered by probiotic bacteria is anticipated to hamper the market to grow steadily in the near future.

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Food and Beverages to Retain Leadership as Key Application Segment

The global market for probiotics is broadly classified on the basis of application, strain types, and end users. Food and beverages, animal feed, and dietary supplements are the main application areas for probiotics. The food and beverage application segment dominated the overall market in 2013 with a majority share. Analysts project it to retain its position, rising at a CAGR of 7.20% from 2014 to 2020.

Based on the types of strains, the markets for streptococcus, yeast, spore formers, lactobacillus, and bifidobacterium are the major segments of the worldwide market for probiotics. Human probiotics and animal probiotics are the key end users of probiotics, among which the human probiotics segment leads the global market in terms of revenue.

Asia Pacific to Continue as Leading Regional Market

The worldwide probiotic market is spread across North America, Europe, Asia Pacific and the Rest of the World. Among these, the probiotic market in Asia Pacific led the global market in 2013. Analysts expect it to report a CAGR of 7.10% during the period from 2014 to 2020, retaining its dominance. The rising demand for probiotics from India, China, Japan, and Australia, triggered by the increasing health consciousness among consumers in these countries, is the key reason for the remarkable growth in the probiotic market in Asia Pacific.

Europe has also emerged as a major consumer of probiotics in recent times. France and Germany lead the probiotic market in Europe and are expected to post a CAGR of 6.60% and 6.80% between 2014 and 2020, respectively. On the other hand, North America holds a smaller share of the global probiotic market as compared to other regions. The dearth of natural probiotics is hampering this regional market’s growth .Brazil is the biggest probiotic market in the Rest of the World region, which is slated to register an impressive growth over the next few years.

Global Probiotic Market: Key Players

BioGaia AB, Chr. Hansen, Lifeway Foods Inc., Probi AB, General Mills, Inc., Mother Dairy, E. I. du Pont de Nemours and Co., Nestle S.A., China-Biotics Inc., Groupe Danone S.A., and Yakult Honsha Co. Ltd. are the leading players operating in the global probiotic market.

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