Global Probiotics Market Worth US$32.6 Billion by 201425 Feb 2011 • by Natalie Aster
Wilmington – According to a new market research report, ‘Probiotic Market - Advanced Technologies and Global Market (2009 - 2014)’, published by MarketsandMarkets, the global probiotics market is expected to be worth US$ 32.6 billion by 2014, with the Europe and Asia accounting for nearly 42% and 30% of the total revenues respectively. The global market is expected to record a CAGR of 12.6% from 2009 to 2014.
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 microbiota resulting in enhanced over all health, well being and boosts immune system.
Probiotics market has been one of the prime beneficiaries of the recent fad over functional foods. Rising levels of health consciousness and ageing baby boomer population are a few of the drivers helping in the growth of the market. The other major market factor driving the overall probiotics market in the present and expected to continue to do so in the future is the influence exerted by the women buyer segment. It is generally observed through out the globe that traditionally women are responsible for the buying decisions in the foods and beverages (F&B) category in families. Since they tend to be more aware about the new products and their health benefits, they try and incorporate more beneficial foods in the families’ diet. Hence it is no surprise that women have more knowledge about probiotic F&B and consequently not only drive their consumption but also act as the opinion makers. This gathers more importance considering the fact that probiotic F&B segment is expected to command over 75% of the overall probiotics market in 2009.
Published: September 2009
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Probiotic dairy products are expected to command the highest market share among all the probiotic foodstuffs accounting for almost 70% in the year 2009 and reach a market size of almost $24 billion by the end of 2014. The biggest markets for these products are Europe and Asia; the U.S. market has slowly but surely opened up to these products in the recent past and is expected to grow at a CAGR of 17% from 2009 to 2014, the biggest contributor being probiotic cultured drinks followed by probiotic yogurts. Though the market base of probiotic products is comparatively lesser in the U.S., the market is expected to grow at an astounding rate of almost 14% in the same period driven by the large scale acceptance of - the probiotic yogurts in spoonable single serve packs, 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 much larger market share due to the belief that consumers are ready to pay an extra amount for fortified products if confident of ‘extra’ benefits. However, probiotic cheese, probiotic butter etc are fated to the status of ultra-niche products due to their conventional image as unhealthy dietary products.
Europe forms the largest market for probiotics with an estimated $13.5 billion by 2014. Its 12.2% CAGR from 2009 to 2014 is driven by consumer demand for health enhancing probiotic products such as probiotic yogurts, other probiotic dairy products and probiotic dietary supplements. Asia is the second largest segment, growing at with an estimated CAGR of 11.2% to reach $9.0 billion by 2014.
More information can be found in the report “Probiotic Market - Advanced Technologies and Global Market (2009 - 2014)” by MarketsandMarkets.
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