June 02, 2016
Wellesley, Mass., June 02, 2016 – Growing awareness of the health benefits conferred by probiotics is driving global growth in this vibrant market. BCC Research reveals in its new report that Asia Pacific is the major regional market among all markets as manufacturers increasingly shift production toward the region to meet increasing demand.
Probiotics, often called “friendly” or “good” bacteria, are added to a diet to help prevent digestive problems, infections and to boost immunity. The most common types of probiotics are mostly based on bacteria and sometimes yeast.
The global market for probiotics should grow from $34 billion in 2015 to $50 billion by 2020, demonstrating a five-year compound annual growth rate of 8%. By application segment, food and beverages, which held about 73% of the global market in 2015, is expected to retain its dominance during the forecast period. This segment should reach nearly $36.5 billion in 2020, demonstrating a five-year CAGR of 8.1% from 2015-2020. Growth in the food and beverage industry should key expansion in this segment.
Dietary supplements as an application should reach $8.8 billion in 2020 on a five-year CAGR of 7.8% from 2015-2020. Probiotics are often consumed in the form of dietary supplements to prevent diarrhea, constipation, and certain other infections.
Animal feed as an application should total nearly $4.7 billion in 2020 on a five-year CAGR of 7.8% from 2015-2020. Probiotics are provided to animals to boost their immunity and improve health conditions. Growing awareness among industry owners should drive this market.
The probiotics market has evolved alongside developments in the food and beverages, dietary supplements, and animal feed industries. Rising health concerns are driving the market for probiotics in both humans and animals. Continuous advancements in the field of probiotics, along with significant reductions in cost, are keying market growth. Also, growing demand in the food and beverages industry is encouraging entry of start–ups and small companies into the industry.
The Asia Pacific, Europe andNorth Americaregions primarily drive the global market, with Asia Pacific leading all regions with an anticipated five-year CAGR of 8.3%, with should boost its market to reach $19.2 billion in 2020.
“The Asia Pacific market for probiotics is expected to have increased from $12 billion in 2014 to $12.9 billion in 2015, reflecting a year-on-year growth rate of 7.4%,” says BCC Research analyst Aneesh Kumar. “Japan is one of the biggest consumers of probiotics, and this consumption is increasing at a significant rate Overall, growing awareness inChinaand India is driving growth in this sector.”
The Probiotics Market: Ingredients, Supplements, Foods (FOD035E) analyzes the historical trends in global and regional sales of probiotics, industry structure, patents and technologies, and current government regulatory requirements. Analyses of global market drivers and trends, with data from 2014, 2015, and projections of CAGRs through 2020 also are provided.
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The Probiotics Market: Ingredients, Supplements, Foods( FOD035E )
Publish Date: May 2016
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