- Probiotics are living microorganisms that are useful for both animals and human beings. They assist in curing diseases like urogenital infections, antibiotic and intestinal inflammation by combating against bad microbes in guts. Moreover, Increase in health awareness is estimated to boost global probiotics market. Tendency among customers to consume dairy products generally across western countries is likely to play a major role in the market growth. Growing concern among consumers and legislative support is anticipated to act as market structured opportunities for overall market. Furthermore, Chinese and Indian markets are the key drivers for probiotics market as they offer high incentives for these products.
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Dietary supplements, animal feed and functional food & beverages are the key applications in Probiotics market. Growth in fats & oils, soya products, breakfast cereals, fermented meat and bakery helped functional food & beverages segment to grow .This segment contributed over 84% of the overall market in the past.
Diet supplement segment is anticipated to be the rapid growing segment with approximate CAGR of 7.5% during 2016 to 2020. The augment in demand for nutrional supplements, food for infants and specialty nutrients will drive the market growth.
Food and animal feed industry are the key end us industries in the market. In 2013, human uses contributed over 93% of the overall market share. In the recent past, these products have been gradually more used in animal feed industry and is projected to grow at an approximate CAGR of 7.5% from 2016 to 2020.
As mentioned above, inducements offered from India and China coupled with Growth in several research processes operating in Japan will drive Asia Pacific market. Additionally, increasing awareness among consumers about health benefits from probiotics yogurts has assisted in augmentation of the market in regions such as Europe and North America.
There are top five market players that are contributing over 35.4% of the market share altogether in probiotics market. Danisco 1.7%, Nestle 6.9%, Danone 15%, Yakult 8% andChr Hansen shares 2.6% of the market share. The other participants are Mnm View, E.IDuPont, Mother Dairy Food Processing, General Mills Inc., Institute Rosell, Nebarsak Cultures Inc., BioGaia Biologics AB, Lifeway Foods Inc Arla Foods and ConAgra.
Information Source: Grand View Research
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