Probiotics Market Size to Exceed USD 64 Billion by 2023: Global Market Insights Inc.
May 10, 2016, 07:00 ET
DOVER, Delaware, May 10, 2016 /PRNewswire/ --
Probiotics market size was USD 36.6 billion in terms of ingredient sales in 2015. Function food consumption is seen as a major industry trend benefiting global probiotics market growth. This trend is getting popular as consumers are increasingly becoming aware of the link between nutrition, diet and health.
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APAC, influenced by China, India and Japan probiotics market size, dominated the regional industry demand and earned over USD 15 billion in revenues in 2015. China & India should attain maximum growth rates while Japan may continue to remain in forefront on product consumption.
Infant formula application in China earned close to USD 29 million in 2015 and is set to attain high growth rates up to 2023. Foods & beverage applications dominated global demand and were valued over USD 30 billion in 2015. Increase in per capita spending on keeping gut system healthy should favor probiotics market growth.
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Demographics, changing lifestyle, and increasing consumption of sodium content in food may fuel increasing gut disorder prevalence. These ingredients, when consumed help in fighting the bad bacteria and gain immunity by improving the gut health.
Animal feed probiotics market size is set to gain highest growth rates at above 7.5% CAGR and be register over USD 4.2 billion by 2023. Livestock production growth owing to increase in meat consumption may positively influence product demand. Growing concerns towards maintaining animal health for meat consumption owing to outbreak of diseases are exerting influence in demand growth.
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Low awareness level among consumers about efficacy of the products may obstruct market growth. Numerous alternative strains are available having similar properties of improving the immune system and gut health creating misunderstanding about the product.
Streptococcus thermophilus is commonly used as ingredient strain which helps maintaining immunity and digestive track function. R&D and raw material cost broadly determine probiotics market prices.
To access sample pages or view this report titled, "Probiotics Market Size By End Use (Human, Animal), By Application (Functional Foods & Beverages [Dairy, Non-dairy, Cereals, Baked Goods, Fermented Meat Products, Dry Foods], Dietary Supplements [Food, Nutritional, Specialty, Infant Formula], Animal Feed Probiotics), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, Japan, India, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2023" in detail along with the table of contents, please on click the link below:https://www.gminsights.com/industry-analysis/probiotics-market
Key insights from the report include:
- Global probiotics market may attain gains at 7.4% CAGR and be worth at USD 64.6 billion by 2023.
- Human probiotics market size was over USD 34 billion in 2015. Rising concerns towards lifestyle diseases along with product efficiency may assist in developing product demand.
- North America, led by U.S. probiotics market size, may gain over 6.5% CAGR and register over USD 6.5 billion by 2023. Food supplement application based on these ingredients registered close to USD 75 million in 2015 in the U.S.
- Europe, led by Germany and UK, is set to gain below average growth rates up to 2023. Dairy products in UK registered over USD 1.2 billion in 2015 and may attain above 7% CAGR up to 2023.
- Fermented meat production in Germany is set to grow significantly at over 11% CAGR up to 2023.
- Brazil specialty nutrients may grow significantly and register over USD 70 million by 2023. Specialty nutrient segment in Latin America & MEA, supported by strong demographic indicators in Brazil, Saudi Arabia and UAE, may enjoy larger market penetration.
- Global probiotics market share is competitive and highly fragmented with top five players accounting for less than 40% of the global revenue. Danone, Yakult, Nestle, Chr. Hansen and Danisco were among notable players in 2015.
- Other prominent industry players include Arla Foods, General Mills, Mother Dairy, Nebraska Cultures, Probi AB, Lallemand and BioGaia AB.
Global Market Insights has segmented the probiotics industry on the basis of application, end-use and region:
Probiotics Market Application Analysis (Revenue, USD Million, 2012 - 2023)
- Probiotic functional foods & beverages
- Dairy products
- Non dairy products
- Cereals
- Baked food
- Fermented meat products
- Dry food probiotics
- Probiotic dietary supplements
- Food supplements
- Nutritional supplements
- Specialty nutrients
- Infant formula
- Animal feed probiotics
Probiotics Market End-Use Analysis (Revenue, USD Million, 2012 - 2023)
- Human probiotics
- Animal probiotics
Probiotics Market Regional Analysis (Revenue, USD Million, 2012 - 2023)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa (MEA)
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