Global Probiotics Market: Overview
Probiotics are the small micro-organisms originated through yeast and bacteria that benefit human and animals by maintaining intestinal microbial balance. These probiotics ingredients stimulate enzymes and natural digestive juices to maintain proper functioning of the digestive system and are administered through supplements or processed food. Probiotics help in strengthening the human immune system reduce body pathogens and protect proteins and lipids from oxidative destruction. Probiotics are marketed in the form of tablets, capsules, gels and powders.
The factors influencing the growth of the probiotics market growth are increasing consumer preference towards natural products, increasing concerns regarding preventive healthcare and rising cases of lifestyle difficulties such obesity, constipation and intestinal bowel syndrome. In addition, rising disposable income and improved standard of living in the developing economies have supplemented the growth of the probiotics market. The demand of probiotics is also surged because of its proven dietary benefits, apart from providing basic nutrition. However, the market is restrained due to low consumer awareness, significant operating costs and International standards and regulations for probiotics product quality.
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The global probiotic market is expected to expand at a CAGR of 7.40% from 2014 to 2020. The market was worth US$62.6 bn in 2014 and is projected to touch a valuation of US$96 bn by 2020.
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Top Impacting Factors
Rising Health Concerns: Due to hectic lifestyle patterns, drinking and other hereditary problems causing obesity, gastrointestinal and digestive problems, and players in the probiotics manufacturing are focused on eradicating such concerns.
Low awareness among consumers: In current scenario, the awareness of the probiotics among consumers is low. Several conferences by the reputed agencies such as International Food Information Council (IFIC) are expected to create awareness regarding their benefits.
Huge investment on R&D: The companies establishedtheir own research and development centers to cater the needs of the industry and thus to remain competitive in the industry. Increase in investments in the probiotics market is expected to bring innovative product launches by the key players.
The growth of the probiotics market in the North America is growing at a CAGR of 6.2% owing to rise in consumption of dairy products and increasing usage of supplements. Moreover, growing consumer inclination towards healthy eating lifestyle and growing middle class disposable income to have affordability for the nutritional supplements containing probiotics as an ingredient are expected to be major growth engines.
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Global probiotics industry share is moderately concentrated with participants including Lallemand, Danone, Arla Food, Danisco A/S, Chr Hansen, Yakult and Probi. The key market participants are focusing on research and development coupled with efficient production capability should bolster product demand. Players are adopting strategies such as acquisition, mergers and partnerships to strengthen product portfolio. For instance, in 2014, Bifodan A/S announced to establish a joint venture for probiotics micro-encapsulation for the efficient delivery of live microbes in the targeted areas of the intestinal tract. In November, 2017, U.K based start up Alive Biome introduced new probiotics drink claiming to contain live vitamins, bacteria and botanicals.
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