Market outlook of the probiotics market
Technavios market research analyst predicts the global probiotics market to grow at a CAGR of around 7% during the forecast period. The increasing health consciousness among the consumers globally is driving the growth of this market. APAC is the fastest growing region in the probiotics market with the maximum demand arising from Japan.
The increasing product innovations in the probiotic market is also expected to fuel the market growth. New probiotic products are being introduced in the form of chocolate, biscuits, and gums to pique the interest of the customer. For instance, during 2014, Milsling introduced a probiotic dark chocolate brand named Chocowise. The brand is sold in numerous markets such as Serbia, Croatia and Bosnia and is expected to enter other European markets as well.
Competitive landscape and key vendors
The global probiotics market is highly competitive. 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.
The key vendors in the market are
Other vendors in the market include Attune Foods, Bifodan, BioCare CopeHagen, Daflorn, Deerland Enzymes, Lallemand, and Winclove Probiotics.
Segmentation by product application and analysis of the global probiotics market
Functional food and beverages
Functional food and beverages were the dominant segment during 2014 and is expected to retain its leadership until the end of 2019. This segment is further classified into fermented meat, dairy, bakery, beverages, breakfast cereals, fats and oil, and soy products.
Segmentation by end use and analysis of the probiotics market
Human probiotics was the dominant sector during 2014 due to its constant extension to fields other than food and drugs. This segment is expected to reach USD 44 billion by the end of 2019. Due to the rising health awareness among people in countries like the US, the demand for the probiotics in functional food, beverages and dietary supplements is expected to increase.
Geographical segmentation and analysis of the global probiotics market
APAC was the market leader with the largest share of around 40% during 2014. The research report predicts the leadership of this region to continue until the end of the forecast period, with a growth rate of around 8%. The use of probiotics in dairy products in this region is the primary driver for the growth of the market. Japan is the largest market for probiotics in this region, closely followed by China.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the global probiotics market?
What are the key market trends impacting the growth of the probiotics market?
What are the challenges to market growth?
Who are the key vendors in the probiotics market?
What are the market opportunities and threats faced by the vendors in the global probiotics market?
Trending factors influencing the market shares of APAC, Europe, Latin America, North America, and ROW?
What are the key outcomes of the five forces analysis of the global probiotics market?
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