New report projects 12.6% increase of probiotics market

WILMINGTON, Del. The food and beverage practice at MarketsandMarkets projected the global probiotics market to be worth $32.6 billion by 2014, growing at a compound annual growth rate of 12.6% from 2009 to 2014 during its "Analyst Briefing Presentation on the Global Probiotic Market" held Tuesday.

Europe and Asia are expected to account for nearly 42% and 30% of the total revenues, respectively, in 2014. The U.S. market has opened up to these products in the recent past and is expected to grow at a CAGR of 17% from 2009 to 2014, the biggest contributor being probiotic cultured drinks followed by probiotic yogurts. Though the market base of probiotic products is comparatively lesser in the United States, 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, probiotic cultured drinks and probiotic dietary supplements.

“The early movers in the industry will benefit in terms of market share but it is important that they focus on innovating probiotic strains that are more efficient in terms of survivability in harsh conditions and stability and are supported by competitively-priced production technologies,” the company stated. “In addition, garnering faith of the consumers by making substantiated and legitimate assertions in terms of health benefits will profit the market in future.”