Friday, 11 March 2016
Increasing Health Awareness Expected To Result In Probiotics Market Size Worth USD 52.34 Billion By 2020
The probiotics market is emerging as one of the fastest growing market globally. In 2013, the global probiotics market was estimated as a value of USD 32.06 billion and is expected to reach USD 52.34 billion by 2020. Probiotics are living microorganisms that are believed to enhance immune system when consumed. It also helps in various urological and intestinal disorders. The major growth drivers for probiotics market include burgeoning population and increased health awareness amongst them. This industry has a bright future due to its strong connection with well being of consumers.
Now-a days, consumer preference is shifting towards dietary supplements and dairy products, especially in the western countries. The growth of food industry also pushes higher demand of probiotics food market. Probiotics food market is supposed to provide indispensable food supplement to consumers with high health benefits.
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Over the past few years, outbreak of various animal diseases has also affected the meat consumption market. Hence, the meat market drives the growth of probiotics market industry by getting substitutes in the form of dietary supplements.
Asia Pacific and Africa, being the largest prospective markets for probiotics food, lack awareness coefficient and need various health-awareness campaigns for consumers of the countries. The environmental factor also plays a very important role in production of probiotics, as microorganisms are highly sensitive to our environment.
Government regulations, technological advancements, and high health awareness are the factors that are expected to drive probiotics market in the near future. India, Brazil and China are seen as emerging market for probiotics foods.
Probiotics foods are mainly used in food & beverage industry and, animal feed & food supplements. Amongst all, food and beverages industry contributed for 80% of total market share of probiotics market in 2013. Dietary supplements consumed in the forms of capsules and tablets, are expected to witness a significant growth by 2020.
The human probiotics market is complemented by growth factors, such as, high purchasing power, health consciousness, and changing lifestyle of consumers, and has accounted for approximately 90% of market revenue. Animal probiotics items are also expected to grow at higher pace in the near future.
Asia Pacific leads the probiotics markets and contributed for about 40% of total market revenue in 2013. The U.S has been dominating the regional market because of high diabetic and obese population.
Healthcare, being the one of the fastest growing segment, supports the opportunity for bright future of the global probiotics market. The major players in probiotics markets are Mother Dairy Fruits & Vegetables Pvt. Ltd., General Mills, Lifeway Foods Inc, Arla Foods, Nestle S.A., Danisco, BioGaia Biologics AB, and Danone. The probiotics market is highly competitive. To gain competitive advantages, many countries are opting for merger & acquisitions, deliverable broad product-portfolio, advancement in technologies, and various partnership programs.
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