A new market report from Transparency Market Research titled “Probiotics Market (Dietary Supplements, Animal Feed, Foods & Beverages) - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast, 2012 - 2018,” reported global probiotics demand was worth $27.9 billion in 2011 and is expected to reach $44.9 billion in 2018, growing at a CAGR of 6.8% from 2013 to 2018. Demand from Asia-Pacific and Europe dominated the global market, with Asia-Pacific expected to be the most prominent market in the future.
The global market for probiotics is mainly driven by high demand for probiotic yogurt and growing consumption of functional food. Growing consumer awareness regarding gut health has played a key role in sustained growth of these ingredients. However, pricing issues, culture cultivation and lack of standardization of product specifications are expected to have an inhibiting effect on market growth over the next five years.
Probiotic foods and beverages are the dominant segments the global, with probiotic demand for the food and beverage segment estimated to reach $37.9 billion in 2018. Following food and beverages, the market for dietary supplements and animal feed are also witnessing significant growth.
With respect to application segments, probiotics are widely used in dairy, non-dairy, cereals, baked products, fermented meat products, dry foods and others. Dairy products are the largest application market for probiotic foods. Probiotic demand for dairy products is estimated to reach USD 32.2 billion in 2018, growing at a CAGR of 6.8% from 2013 to 2018. Probiotics have also emerged as a critical part of the animal feed industry. Probiotic demand for animal feed applications is estimated to cross USD 3 billion by 2018.
Asia-Pacific is the market leader for probiotics, with an expected CAGR of 7.0% from 2013 to 2018. Europe is another key consumer of probiotic products, with consumer awareness levels much higher than compared to North America; European probiotic demand is expected to grow at a CAGR of about 6.7% from 2013 to 2018. In Asia-Pacific, China and Japan dominate the market revenue for probiotics, with India and other regions also showing significant growth. In Europe, Germany and U.K. are the most attractive markets, with expected CAGR of over 6% each from 2013 to 2018. The markets of North America and emerging countries such as Brazil also show huge potential for demand growth.
For the full report, visit: http://www.transparencymarketresearch.com/probiotics-market.html