Europe’s the largest market currently demanding prebiotics and probiotics, the Asia Pacific region will register the highest growth rate while the United States is comparably underdeveloped, according to a new report by RnR Market Research. Our underdeveloped states are ripe with opportunity, according to "Human Microbiome Market by Disease (Diabetes, Obesity, Autoimmune, Cancer, Diarrhea, Mental Disorder), Application (Therapeutic, Diagnostic), Product (Probiotic, Prebiotic, Food, Medical Food, Supplement, Device, Drug) - Global Forecast to 2023."
The report predicts that new products to help treat chronic diseases and disorders at their early stages will help drive growth, along with new scientific evidence and a growing consumer awareness of the healthy powers of bugs.
“With the advancement in technology, the usage of probiotics is likely to extend beyond the current arena of gut, dental and immune health to several other areas of human health,” according to a release about the report.
This forecast echoes another report released last month by BCC Research, whose analysts predicted that sales of ingredients, supplements and food featuring probiotics are expected to grow to $36.7 billion by 2018, with a five-year compound annual growth rate of 6.2 percent.
That company’s report “The Probiotics Market: Ingredients, Supplements, Foods,” says that the supplements category, the fastest growing segment, will register a compound annual growth rate of 11.5 percent. It’s expected to jump to $2 billion in 2018 (from $1.2 billion in 2013). Food, the largest segment in the overall market, is expected to reach $33.5 billion by 2018 with a compound annual growth rate of 6 percent.