Ingredients for dairy success
The future looks bright for probiotics, prebiotics and stevia, but a bit darker for sugar.
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$75 billion
That’s the value the global probiotics market is expected to reach by 2025. And as more U.S. consumers become aware of the correlation between digestive health and overall health — and new science drives food product innovations and supports product claims — the U.S. probiotics segment is expected to continue to grow at double-digit rates annually.
Source: Sterling-Rice Group, Boulder, Colo.
9.45%
That’s the projected compound annual growth rate for the global inulin market for 2017 through 2024. Growth of this dietary fiber, commonly derived from chicory root, will be driven by increased use of prebiotic ingredients in foods such as yogurt, ice-cream and cheese. The growth of the dairy industry is expected to be a primary driver for the market growth.
Source: “Global Inulin Market Forecast 2017-2024,” Inkwood Research, Boston.
47%
That’s the percentage of global consumers who say they are more concerned now with their sugar intake than they were three years ago. Moreover, 59% of U.S. consumers “often” or “always” check the label of a food or beverage product for sugar content.
Source: “Sugar reduction is the new normal: Rethinking sugar labeling strategies,” a 2017 study from DSM Food Specialties, the Netherlands.
$720 million
That’s the annual revenue the global stevia market is forecast to reach by 2022. The stevia market is growing at a compound annual growth rate of 8.6%. Demand is being driven by changing lifestyles, rising disposable income and consumer awareness of stevia’s health benefits. North America is the second-largest market for stevia, with the largest being the Asia-Pacific.
Source: “Stevia/Stevia Rebaudiana Market,” August 2017, IndustryARC, Rockville, Md.