06.10.13
A new report, “Probiotics Market By Products (Functional Foods, Dietary Supplements, Specialty Nutrients, Animal Feed), Applications (Regular, Therapeutic, Preventive Health Care) And Ingredients (Lactobacilli, Bifidobacteria, Yeast) - Global Trends and Forecasts To 2017” from MarketsandMarkets, examined the global probiotic market and forecast the global revenue for probiotic products and ingredients within the next 4 years. The report identified the key driving and restraining factors within the market, as well as growing trends and challenges within the probiotic space.
The report’s findings show the probiotic market was valued at $24.23 billion in 2011 and is expected to grow at a CAGR of 6.8% from 2012 to 2017. In 2011, Asia-Pacific led the global market with share of 40.0%, followed by Europe and North America in terms of revenue.
With the recent growing popularity of probiotics, MarketsandMarkets noted growing opportunities for these beneficial bacteria beyond its traditional role in digestive and immune health. The report sees future opportunities for probiotics in cases of antibiotic associated diarrhea, irritable bowel syndrome, lactose intolerance and oral health.
The popularity of functional foods and beverages is also bringing probiotics to a broader audience. Rising levels of health consciousness and the ageing Baby Boomer population are few of the drivers helping in the growth of the market.
Looking ahead, the report shows that probiotic dairy products commanded the highest market share among all the probiotic foodstuffs, accounting for almost 80% in the year 2011, and is expected to reach a market size of almost $23.93 billion by 2017.
The biggest markets for these products are currently in Europe and Asia-Pacific (APAC). APAC forms the largest market for probiotics with an estimated $14.55 billion by 2017. Its 6.9% CAGR from 2012 to 2017 is driven by consumer demand for health enhancing probiotic products such as probiotic yogurts, other probiotic dairy products, and probiotic dietary supplements. Europe is the second largest segment and it is expected to reach $11.87 billion by 2017, growing at a CAGR of 6.3% from 2012 to 2017. The North American market has gradually warmed to these products in recent years and is expected to grow at a CAGR of 7.0% from 2012 to 2017.
While the U.S.’s use of probiotics is comparatively smaller than the rest of the world, the market is expected to grow at a promising rate of almost 6.8%. This growth is being driven by the large scale acceptance of the probiotic yogurts in spoonable single serve packs, probiotic cultured drinks in single shot packaging form, and probiotic dietary supplements.
Further innovation in the functional food and beverage space is anticipated, with products such as probiotic chocolates, probiotic ice creams, and probiotic baked products making up a larger portion of the market share.
Consumer’s willingness to pay the premium price for fortified products with proven benefits is also a key driver for these segments. However, products such as probiotic cheese and probiotic butter, could have less success due to their association with unhealthy eating habits.
The report’s findings show the probiotic market was valued at $24.23 billion in 2011 and is expected to grow at a CAGR of 6.8% from 2012 to 2017. In 2011, Asia-Pacific led the global market with share of 40.0%, followed by Europe and North America in terms of revenue.
With the recent growing popularity of probiotics, MarketsandMarkets noted growing opportunities for these beneficial bacteria beyond its traditional role in digestive and immune health. The report sees future opportunities for probiotics in cases of antibiotic associated diarrhea, irritable bowel syndrome, lactose intolerance and oral health.
The popularity of functional foods and beverages is also bringing probiotics to a broader audience. Rising levels of health consciousness and the ageing Baby Boomer population are few of the drivers helping in the growth of the market.
Looking ahead, the report shows that probiotic dairy products commanded the highest market share among all the probiotic foodstuffs, accounting for almost 80% in the year 2011, and is expected to reach a market size of almost $23.93 billion by 2017.
The biggest markets for these products are currently in Europe and Asia-Pacific (APAC). APAC forms the largest market for probiotics with an estimated $14.55 billion by 2017. Its 6.9% CAGR from 2012 to 2017 is driven by consumer demand for health enhancing probiotic products such as probiotic yogurts, other probiotic dairy products, and probiotic dietary supplements. Europe is the second largest segment and it is expected to reach $11.87 billion by 2017, growing at a CAGR of 6.3% from 2012 to 2017. The North American market has gradually warmed to these products in recent years and is expected to grow at a CAGR of 7.0% from 2012 to 2017.
While the U.S.’s use of probiotics is comparatively smaller than the rest of the world, the market is expected to grow at a promising rate of almost 6.8%. This growth is being driven by the large scale acceptance of the probiotic yogurts in spoonable single serve packs, probiotic cultured drinks in single shot packaging form, and probiotic dietary supplements.
Further innovation in the functional food and beverage space is anticipated, with products such as probiotic chocolates, probiotic ice creams, and probiotic baked products making up a larger portion of the market share.
Consumer’s willingness to pay the premium price for fortified products with proven benefits is also a key driver for these segments. However, products such as probiotic cheese and probiotic butter, could have less success due to their association with unhealthy eating habits.
