Probiotics maintained the largest share of the digestive health market with sales valued at $737.9 million for the 52 weeks ending Feb. 19, 2017, SPINS reported. Globally, the market for probiotic ingredients was valued at US$36.6 billion in 2015, according to Global Market Insights Inc., and is predicted to exceed $64 billion by 2023. The market research firm attributed the strength and growth of the market to increased consumption of functional foods. Food and beverage applications for probiotics were valued at more than $30 billion globally in 2015.
The prevalence of probiotic-fortified foods and beverages was underscored at Natural Products Expo West in Anaheim, California in March, where more than 125 food and beverage products launched featuring Ganeden BC30, a patented probiotic strain (Bacillus coagulans GBI-30, 6086) to support digestive and immune health.
Asia Pacific was dubbed the dominant region for probiotics, earning more than $15 billion in revenue in 2015, according to Global Market Insights. China, India and Japan were cited as the primary drivers of the Asia Pacific market. In China, infant formula is estimated to be a driver of growth of the probiotics market through 2023; infant formula as an application for probiotics earned nearly $29 million in China in 2015.
The United States is leading the North American probiotics market, which is predicted to grow at more than 6.5 percent compound annual growth rate (CAGR) and valued at more than $6.5 billion. Europe, led by Germany and the United Kingdom, is set to gain below average growth rates up to 2023, the market research firm reported.
Learn more about the market for digestive health ingredients such as fiber, flax ingredients and up-and-coming category playersin INSIDER’s Digestive Health Digital Magazine.