Growing awareness among consumers for gut health disorders is expected to remain a key driving factor for probiotics market.
San Francisco, California (PRWEB) September 22, 2014
The global market for probiotics is expected to reach USD 52.34 billion by 2020, according to a new study by Grand View Research, Inc. Growing consumer awareness regarding gut health has pushed the demand for supplements and dietary products, which is expected to reflect in probiotic consumption over the forecast period. However, the probiotics market is still at a relatively novice stage, with lack of clarity on usage patterns among consumers, this is expected to play a critical role in market development over the next six years. Labeling regulations, especially in the U.S. and European Union, are also expected to have significant impact on market growth.
Food & beverages dominated the application market and accounted for over 80% of the total probiotics market, driven by growth of fermented meat, dairy, bakery, breakfast cereals, fats & oils, beverages, fish & eggs, meat, and soy products. Dietary supplements are expected to be the fastest growing application segment, at an estimated CAGR of 7.7% from 2012 to 2020.
The report “Probiotics Market Analysis By Application (Probiotic Functional Foods & Beverages, Probiotic Dietary Supplements, Animal Feed Probiotics), By End Use (Human Probiotics, Animal Probiotics) And Segment Forecasts To 2020” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/probiotics-market
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Further key findings from the study suggest:
- Probiotics for human consumption accounted for over 90% of the total market in 2013. Of late, probiotics have made significant strides in the animal feed industry and are expected to grow at an estimated CAGR of 7.6% from 2012 to 2020.
- Asia Pacific emerged as most dominant regional market, owing to the fact that the concept started in Japan, accounting for over 50% of the total market share in Asia Pacific. Asia Pacific is also expected to be the fastest growing market, at an estimated CAGR of 7.7% from 2012 to 2020.
- Probiotics market is highly fragmented, with top five participants catering to just over 35% of the total demand. Danone accounted for over 10% of the overall market share for probiotics, followed by Yakult, Nestle, Chr Hansen, and Danisco. Other notable participants include Arla Foods, BioGaia Biologics AB, General Mills Inc., Probi AB, Mnm View, Mother Dairy Food Processing, Lifeway Foods Inc., Institute Rosell, E. I. DuPont, Royal Dsm N.V, ConAgra and Nebraska Cultures Inc.
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For the purpose of this study, Grand View Research has segmented the Probiotics market on the basis of technology, application and region:
- Global Probiotics Application Outlook (Revenue, USD Million, 2012 - 2020)
- Probiotic Food and Beverages
- Probiotic Dietary Supplements
- Animal Feed Probiotics
- Global Probiotics End-Use Outlook (Revenue, USD Million, 2012 - 2020)
- Human Probiotics
- Animal Probiotics
- Global Probiotics Regional Outlook (Revenue, USD Million, 2012 - 2020)
- North America
- Asia Pacific
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