The global probiotics market is estimated to be valued at USD 49.4 billion in 2018 and is projected to reach USD 69.3 billion by 2023, at a CAGR of 7.0% during the forecast period. The probiotics market is driven by the growing popularity of functional foods such as yogurt, particularly in emerging countries of the Asia Pacific. The increased demand for dietary supplements in the North American region is further projected to boost sales of probiotic dietary supplements in the region. The ban on the use of antibiotics particularly in the European region is projected to create growth prospects for probiotics manufacturers in the coming years.
Key players in the global probiotics market include Chr. Hansen (Denmark), DowDuPont (US), Danone (France), Yakult Honsha (Japan), and Nestlé (Switzerland). Expansions and new product launches were the core strengths of leading players in the probiotics market. These strategies were adopted by key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Market leaders such as Chr. Hansen (Denmark), DowDuPont (US), Danone (France), Nestlé (Switzerland), and Yakult Honsha (Japan) are focusing on tapping the potential markets through expansions and new product launch.
To know about the assumptions considered for the study, download PDF brochure
Danone (France) is one of the major players in the global probiotics market. The company focuses on expansion and new product launch strategies to enhance its presence in the probiotics market. For instance, in 2017, Yakult Danone India expanded its presence in the Indian probiotics market by opening a manufacturing unit at Sonepat (India), to meet the rising demand for probiotic drinks. The company focuses on expanding its capacity to 2,80,000 bottles of 65 ml per day from 2,00,000 bottles per day. The company offers probiotic yogurt under various brand names, namely, DanActive, Activia, Actimel, Danacol, ProViva, and Bio. Activia was one of the top-selling probiotic brands in 2017. In 2018, the company formed a partnership agreement with Yakult (Japan) for developments associated in the probiotics market.
Yakult Honsha (Japan) is one of the leading players in the probiotic drinks market. The company’s probiotic products are sold in over 38 countries at the global level. The company is engaged in the manufacturing and marketing of products for industries such as food & beverage, cosmetics, and pharmaceutical. Yakult Honsha has strengthened its position in the probiotics market through expansions and new product launches. For instance, in 2017, Yakult (China) Corporation, a subsidiary of Yakult Honsha, established a branch in Wuxi, Jiangsu Province, to sell Yakult and Yakult Light fermented milk drinks through supermarkets and other retail.
The Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rising in disposable income and the increase in demand for nutritional food products, along with the growing technology base, leading to the increased demand for probiotics in the region. The rapid economic growth in countries such as China, Japan, Brazil, and Argentina have led to a significant increase in the disposable incomes of livestock owners. This, in turn, is driving the demand for probiotic-based food, making the Asia Pacific the fastest-growing market globally.
Request Sample of this Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=69
Health benefits associated with probiotics fortified food is a major driver for the market
Health awareness among consumers is on the rise and most consumers are constantly in search of healthy food products for consumption. Probiotics have proven strong benefits related to health, more specifically to the human digestive system.
Probiotics are found in supplement form or as components of foods & beverages. Their integration with inexpensive health foods, such as yogurt, fruit juices, and cultured dairy drinks has contributed to a significant market size. The most commonly used bacteria include Bifidobacteria and Lactobacilli, which are found in various dairy products, including yogurt. In the dairy category, yogurt is the most popular option for consumption of probiotics. Manufacturers are coming up with a variety of options in the yogurt category; for instance, in 2013, Chobani, LLC (US) introduced a line of Greek yogurt in the US market, which has now become one of the leading brands across North America.
