Seattle, WA -- (SBWire) -- 11/14/2019 --Global Bacillus Coagulans Market - Insights
Bacillus coagulans is a type of bacteria that is used as beneficial bacteria, similar to lactobacillus. A lot of people take bacillus coagulans for diarrhea and other infectious disease such as rotaviral diarrhea. Bacillus coagulans have the ability to withstand harsh acidic environments, which has led to its adoption in probiotics that typically targets the human digestive system. It is useful in alleviating stomach ailments, constipations, flatulence, abdominal pain, and irritable bowel syndrome. Moreover, it finds application in both human and animal nutrition due to its effective properties. It offers other beneficial properties such as improved immunity, prevention of respiratory disorders, and anti-carcinogenic agent.
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Regional Insights
Among regions, Asia Pacific accounted for the largest revenue share in the global bacillus coagulans market in 2016 and was valued at US$ 236 million in 2016. The region is also estimated to be the fastest growing, exhibiting a CAGR of 7.91% over the forecast period. This is owing to rising expenditure on healthcare facilities 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 major contributors in the region for bacillus coagulans, as these are major consumers of functional food and beverages. Moreover, increasing geriatric population in these economies is expected to drive the market growth in the near future. 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. Moreover, 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 global bacillus coagulans market growth.
Furthermore, North America accounted for the second largest share in the global bacillus coagulans market 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. The U.S. is projected to be the major contributor in the 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.
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Market Outlook
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. This is owing 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.
Competitive Landscape
Major companies operating in the global bacillus coagulans market are Ganeden, Sabinsa Corporation, UAS Laboratories, Sanzyme, Mitsubishi Chemical Foods Corporation, Mystical Biotech Pvt. Ltd., Aumgene Bioscience, and Unique Biotech Ltd.
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Bacillus Coagulans Market Detailed Analysis of Business Opportunities, Growth & Forecast to 2026