Bacillus Coagulans Market - Size, Share, Trends, and Forecast to 2025
Posted by Apeksha on May 18th, 2019
Bacillus coagulans is a bacteria utilized as a probiotic. The bacteria’s ability to withstand harsh acidic environments has led to its adoption in probiotics, which specifically targets the human digestive system. It is useful in alleviating stomach ailments, constipations, flatulence, abdominal pain, and irritable bowel syndrome. Due to the bacteria’s efficacious properties, it finds application in both human and animal nutrition. Other beneficial properties include improved immunity, prevention of respiratory disorders, and anti-carcinogenic agent.
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Asia Pacific held the largest revenue share in the global bacillus coagulans market in 2016. The region was valued at US$ 236 million in 2016. The region is also projected to be the fastest growing with a CAGR of 7.91% over the forecast period. This can be attributed to rising healthcare spending by the populace in the region. According to the EU Business Avenues in South East Asia, the healthcare spending in ASEAN countries was estimated to be around US$ 110.78 billion in 2014.
The emerging economies of ASEAN, China and India are expected to be the key markets for bacillus coagulans, as these are major consumers of functional food and beverages. Moreover, increasing geriatric population in these economies is one of the major factors driving growth of the market. According to the Economic and Social Commission for Asia Pacific (ESCAP), the total number of elderly people is expected to double by 2050, which will be around 1.3 billion from 547 million in 2016. Japan is the largest consumer of probiotics, owing to its wide usage in herbal medicine for maintaining health and treating diseases, which is further driving overall growth of the market in Asia Pacific. Also, in economies such as India, lack of public spending on healthcare has led to booming healthcare costs. This has led to increasing adoption of healthcare products, which are aimed at forestalling ailments and diseases. These factors are projected to bolster bacillus coagulans market growth.
North America was the second largest market for bacillus coagulans in 2016. The region was valued at US$ 53 million in 2016 and is projected to exhibit a CAGR of 6.2% over the forecast period. U.S. is projected to be the major growth driver in this region over the forecast period, owing to increasing use of functional food and dietary supplements. According to the U.S. Pharmacopeia Convection, dietary supplements were used by around 80% of the adults in the U.S in 2016.
Among application, functional food segment accounted for 34% of the market and was valued at US$ 144.3 billion in 2017. The segment is expected to be the largest and the fastest growing over the forecast period. The dominant position of the segment can be attributed to the bacterium’s easy formulation in any form. Functional food such as breakfast cereals, gels, bars, and gummies are popular products infused with bacillus coagulans. Dairy products, sports beverages, and baked goods are also popular applications of bacillus coagulans. The bacteria is highly stable at high temperatures and is viable during high temperature processes such as baking.
The global bacillus coagulans market is characterized by the presence of large scale manufacturers. Strategic mergers and acquisitions, product innovations, and joint ventures among others are some of the key strategies adopted by key players to ensure long-term sustenance in the market. Some of the major players operating in the market include Ganeden, Sabinsa Corporation, UAS Laboratories, Sanzyme, Mitsubishi Chemical Foods Corporation, Mystical Biotech Pvt. Ltd., Aumgene Bioscience, and Unique Biotech Ltd.
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About the AuthorApeksha
Joined: April 9th, 2018
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