January 19, 2010

Global probiotics market valued at US$31.2 billion by 2014

The global market value for probiotics is to grow to US$31.2 billion in 2014, with Europe and Asia accounting for nearly 42% and 30% of the total revenues respectively.

According to the market research report by MarketsandMarkets, the global market is expected to record a compound annual growth rate (CAGR) of 12.6% from 2009- 2014, which will mostly be established in the human sector.
 

Probiotics are live micro-organisms that are similar to the beneficial micro-organisms found in humans and are generally regarded as safe.

Probiotic dairy products are expected to command the highest market share among all the probiotic foodstuffs, accounting for almost 70% in the year 2009 and reaching a market size of almost US$24 billion by the end of 2014.
 

The biggest markets for these products are Europe and Asia. Meanwhile, the US market has gradually opened up to these products and is expected to grow at a CAGR of 17% from 2009-2014, the biggest contributor being probiotic cultured drinks followed by probiotic yogurts.

Though the market base of probiotic products is comparatively lesser in the US, the market is expected to grow at a rate of almost 14% in the same period driven by the large scale acceptance of probiotic yogurts, cultured drinks and dietary supplements.
 

Europe forms the largest market for probiotics with an estimated US$13.5 billion by 2014. Its 12.2% CAGR from 2009-2014 is driven by consumer demand for health-enhancing probiotic products.

Asia is the second largest segment, growing at an estimated CAGR of 11.2% to reach US$9 billion by 2014.
 

Probiotics in animal feed only form a minor portion of the total global turnover.