09.14.10
The global probiotics market, still in its infancy stage, is forecast to reach $28.8 billion in revenue by 2015, according to a new report from Global Industry Analysts, Inc. titled “Probiotics: A Global Strategic Business Report.”
The market is set to witness impressive growth as consumers become more conscious about their health and switch to preventive health care due to rising costs, the report says. Enhanced efficiency of ingredient and increasing scientific evidence of the advantages of probiotics are the other major factors facilitating market growth.
The global H1N1 pandemic also acted as a major catalyst, boosting growth in the probiotics segment, which witnessed a minor hiccup during the economic recession. Rising health care awareness and the consequent gravitation toward digestive and functional foods has managed to offset the high cost disadvantage and sustain the growth momentum in the industry.
Already used extensively by Europeans and in some parts of Asia, probiotics are gaining in popularity worldwide, particularly in the U.S. Europe represents the largest as well as the fastest-growing market. Within Europe, Germany and the U.K. account for about 45% of the total market. Japan, the second largest market, is demonstrating signs of maturity, and is expected to grow at more moderate rates.
Growth in the probiotic market is also being driven by the enhanced efficiency of ingredients, which offer products with bio-therapeutic properties. The increased consumption is also a result of the probiotic product being available in the form of dietary supplements and food such as baked and dairy products, which induced major players to integrate probiotics with products such as chocolates, cheese, muffins and sausages. With further advancement in technology, probiotics usage is likely to extend beyond the current realms of gut, dental and immune health to several other areas of human health. As consumers across the world are becoming increasingly aware of the favorable benefits of the “friendly” bacteria, the market is likely to reap rich gains in coming years. Fortified products such as probiotic baked products, probiotic ice creams, and probiotic chocolates are likely to gain popularity as consumers are willing to incur additional costs to enjoy benefits.
Lured by the vast market potential, the probiotics market is witnessing extensive scientific research as new probiotic strains and new applications are under development. Global probiotics giants are putting great efforts and applying their experiences learnt from traditional markets such as Europe and Japan, where these food supplements are already in wide acceptance. Probiotics are increasingly being targeted to provide relief in new areas such as inflammatory diseases, allergy prevention, cholesterol reduction and prevention of colon cancer, apart from traditional benefits that they provide in gastrointestinal problems.
The market is set to witness impressive growth as consumers become more conscious about their health and switch to preventive health care due to rising costs, the report says. Enhanced efficiency of ingredient and increasing scientific evidence of the advantages of probiotics are the other major factors facilitating market growth.
The global H1N1 pandemic also acted as a major catalyst, boosting growth in the probiotics segment, which witnessed a minor hiccup during the economic recession. Rising health care awareness and the consequent gravitation toward digestive and functional foods has managed to offset the high cost disadvantage and sustain the growth momentum in the industry.
Already used extensively by Europeans and in some parts of Asia, probiotics are gaining in popularity worldwide, particularly in the U.S. Europe represents the largest as well as the fastest-growing market. Within Europe, Germany and the U.K. account for about 45% of the total market. Japan, the second largest market, is demonstrating signs of maturity, and is expected to grow at more moderate rates.
Growth in the probiotic market is also being driven by the enhanced efficiency of ingredients, which offer products with bio-therapeutic properties. The increased consumption is also a result of the probiotic product being available in the form of dietary supplements and food such as baked and dairy products, which induced major players to integrate probiotics with products such as chocolates, cheese, muffins and sausages. With further advancement in technology, probiotics usage is likely to extend beyond the current realms of gut, dental and immune health to several other areas of human health. As consumers across the world are becoming increasingly aware of the favorable benefits of the “friendly” bacteria, the market is likely to reap rich gains in coming years. Fortified products such as probiotic baked products, probiotic ice creams, and probiotic chocolates are likely to gain popularity as consumers are willing to incur additional costs to enjoy benefits.
Lured by the vast market potential, the probiotics market is witnessing extensive scientific research as new probiotic strains and new applications are under development. Global probiotics giants are putting great efforts and applying their experiences learnt from traditional markets such as Europe and Japan, where these food supplements are already in wide acceptance. Probiotics are increasingly being targeted to provide relief in new areas such as inflammatory diseases, allergy prevention, cholesterol reduction and prevention of colon cancer, apart from traditional benefits that they provide in gastrointestinal problems.