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.
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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.
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.
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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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