Probiotics market: Key market research findings
- Plentiful health benefits of probiotics
- Immense consumption of probiotics across new sectors
Technavio has added a new market research report on the global probiotics market, which is expected to grow at a CAGR of around 7% between 2015 and 2019. Vendors are launching new probiotic products in the form of chocolate, biscuits, and gums to pique the interest of the customer. APAC occupies 40% of the global market for probiotics, owing to the mammoth usage of probiotics in dairy products. Japan is the largest market for probiotics in this APAC, closely followed by China.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Probiotics or ‘good bacteria’ have immense health benefits which makes it highly preferred among consumers. It prevents the growth of harmful bacteria and enhances nutritional absorption and bowel movements in one’s body. Probiotics help in an improved and clear digestive system, by reducing the pH levels. Moreover, consumption of probiotics protect the immune system against cancer, dental caries and infections,” says Sriram Mohan, Lead Analyst, Food & Retail, Technavio Research.
Huge demand for probiotics is mainly due to the surging consumption of functional food and beverages such as fermented milk and probiotic yogurt. Now-a-says, people are immensely ingesting probiotic ingredients in the form of dietary supplements and as an additive in chocolates, cheese, muffins, and sausages. Besides, the presence of probiotics in skin care and personal care products has gained significance. Many research studies have favoured the usefulness of probiotics for achieving a healthier skin.
The major vendors in the global probiotics market are BioGaia, Hansen, Danisco, Danone, Nestlé, Probi, and Yakult. This market is highly competitive, where vendors compete on the basis of added health benefits, product differentiation, category extension, and innovation in product and application. Companies often engage in brand wars, especially in the probiotic functional food and beverages product segment.
A more detailed analysis is available in the Technavio report, Global Probiotics Market 2015-2019.
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