Overview on Probiotics a market experiencing outstanding growth
Probiotics are unique in every way, from the manufacturing processes, IP, analytical requirements, nomenclature, and safety considerations. As new regions of the world realize the benefits tied to probiotic consumption proven by science, the expansion and growth of probiotics are hitting exponential levels globally. Irrespective of this, regulatory bodies worldwide interpret and deal with this uniqueness in their own way creating a minefield to market for companies wanting to commercialize probiotic products. This article will explore the pace of change and evolution that any company planning to be in the probiotic market should be aware of.
The probiotics market continues to experience unprecedented year over year growth. As ‘The Global Voice of Probiotics®”, The International Probiotics Association and its many collaborators have insights into market data which shows how the market has grown in the 5 years but is now poised to continue this growth path over the next 5 years as well. The evolution of the probiotic sector is being constantly reinforced by the published science around the benefits of probiotic usage.
Industry analysts have attempted to forecast sales and growth, but it seems every time we look the number is always evolving. The International Probiotics Association estimates the probiotics market in both food and supplement closed out year 2017 at USD $42.5 billion (1). That number is forecasted to reach over USD $50 billion and have seen as high as USD $70 billion over the next 7 years. Increasing appeal towards functional foods and preventative healthcare amongst consumer demographics, has the probiotic industry forecasted to hit USD $77 billion by the year 2025 (2).
Demographic trends are one of the key contributing factors to the growth of the p ...