Consumer Trends: Functional Foods Fad Boosts Probiotics Market
DALLAS (PRNewswire) — The report "Probiotics Market by Products (Functional Foods, Dietary Supplements, Specialty Nutrients, Animal Feed), Applications (Regular, Therapeutic, Preventive Health Care) & Ingredients (Lactobacilli, Bifidobacteria, Yeast) - Global Trends & Forecasts to 2019", defines and segments the global probiotics market with an analysis and forecasting of the market value of probiotic products and probiotic ingredients. The report also identifies the driving and restraining factors for the global market with an analysis of trends, opportunities, winning imperatives, and challenges.
The market is segmented and values are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific (APAC), and Rest of the World (ROW). The key countries are covered and forecasted for each region. Further, the market is segmented on the basis of applications, products, and ingredients in the Probiotics Market.
According to the report published by MarketsandMarkets, the probiotic products market was valued at $26,125.9 million in 2012 and is estimated to grow at a healthy CAGR. In 2012, APAC led the global market with the highest share followed by Europe and North America in terms of market value.
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 is 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 probiotic products help in balancing the intestinal micro-biota resulting in enhanced overall health, well-being, and boosts the immune system.
The Probiotics Market has been one of the prime beneficiaries of the recent fad over functional foods. Rising levels of health consciousness and aging baby boomer population are few of the drivers helping the growth of the market. This gathers more importance considering the fact that the probiotic F&B segment accounted for over 84% of the overall Probiotics Market in 2012.
Probiotic dairy products are expected to command the highest market share among all the probiotic foodstuffs. Europe and Asia-Pacific are the dominating regions for these products. The North American consumers are gradually adopting these products and this market is estimated to grow at a healthier rate in coming years. The biggest contributors to this market are supplements and specialty nutrients. Though the market base of probiotic products is comparatively lesser in the U.S. in comparison to countries across the globe, the market is expected to grow at a promising rate in the same period driven by the large-scale acceptance of probiotic yogurts in spoonable single serve packs and probiotic cultured drinks in a single shot packaging form.
Products that fall under the niche category presently, such as probiotic chocolates, probiotic ice creams, and probiotic baked products are expected to enjoy a larger market share. Consumers' willingness to pay premium price for fortified products with proven benefits is a key driver for these segments. However, probiotic cheese, probiotic butter, etc. are fated to the status of ultra-niche products due to their conventional image as unhealthy dietary products.
The report also touches on various other important aspects of the market. It includes an analysis of the competitive landscape and the patent analysis. In addition, 10 key players of this market have also been profiled.