Global Probiotics Market Worth $23.93 Billion by 2017
DALLAS, February 5, 2013 /PRNewswire/ --
The 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" defines and segments the global probiotic market with analysis and forecasting of the global revenue for probiotic products and ingredients. It also identifies driving and restraining factors for the global market with analysis of trends, opportunities, winning imperatives, and challenges. The market is segmented and revenues are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific (APAC), and Rest of the World (ROW). The key countries are covered and forecasted for each region. Further, market is segmented and revenues are forecasted on the basis of applications, products, and ingredients in the Probiotics product market.
Browse 127 market data tables and 23 figures spread through 303 pages and in-depth TOC on "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 & Forecasts To 2017".
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According to the report published by MarketsandMarkets (http://www.marketsandmarkets.com), 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, APAC led the global market with share of 40.0% followed by Europe and North America in terms of revenue.
Probiotics are live microorganisms that are similar to the beneficial microorganisms found in humans and are hence generally regarded as safe (GRAS). Though they have been in existence for many years, the proper appreciation of their benefits is only a recent phenomenon. More and more research are being undertaken to validate their efficacy; so far, such activities have demonstrated their effectiveness in cases of antibiotic associated diarrhea, irritable bowel syndrome, lactose intolerance, oral health, etc. The functional ingredients in the probiotic products help in balancing the intestinal micro-biota resulting in enhanced overall health, wellbeing, and boosts immune system.
Probiotics market has been one of the prime beneficiaries of the recent fad over functional foods market. Rising levels of health consciousness and ageing baby boomer population are few of the drivers helping in the growth of the market. This gathers more importance considering the fact that probiotic F&B segment is expected to command over 85% of the overall probiotics market in 2011.
Probiotic dairy products are expected to command the highest market share among all the probiotic foodstuffs accounting for almost 80% in the year 2011 and reach a market size of almost $23.93 billion by 2017. The biggest markets for these products are Europe and Asia-Pacific. The North American market has gradually opened up to these products in the recent past and is expected to grow at a CAGR of 7.0% from 2012 to 2017, the biggest contributor being supplements and specialty nutrients. Though the market base of probiotic products is comparatively lesser in the U.S. in comparison to countries across the globe, the market is expected to grow at a promising rate of almost 6.8% in the same period driven by the large scale acceptance of the probiotic yogurts in spoonable single serve packs and probiotic cultured drinks in single shot packaging form and probiotic dietary supplements.
Products that fall under the niche category presently, such as probiotic chocolates, probiotic ice creams, and probiotic baked products are expected to enjoy a larger market share. Consumers' willingness to pay the premium price for fortified products with proven benefits is a key driver for these segments.. However, probiotic cheese, probiotic butter, etc. are fated to the status of ultra-niche products due to their conventional image as unhealthy dietary products.
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 report also touches on various other important aspects of the market. It includes an analysis of the competitive landscape and the patent analysis. In addition, 22 key players of this market have also been profiled.
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