Global Probiotic Market: Keen Companies Leverage Competitive Pricing to Gain an Edge, finds TMR
Albany, NY -- (SBWIRE) -- 04/17/2018 -- The competitive landscape of the global probiotic market includes players such as Yakult Honsha Co. Ltd., Nestle S.A., Lifeway Foods Inc., Groupe Danone S.A., General Mills Inc., PROBI AB, Chr. Hansen, E.l. du Pont de Nemours and Company, BioGaia AB, and Mother Dairy. The key players are witnessing an increased demand for human probiotics, says Transparency Market Research (TMR) in a new report. In fact, the human probiotics segment contributes majorly towards the market revenue. The market players are focusing on creating awareness about probiotic food and beverages as this application segment has led the overall market and is anticipated to display a CAGR of 7.20% during the period between 2014 and 2020.
Among the key regions in global probiotic market, Asia Pacific was the leading region in 2013. The region is anticipated to retain its position during the forecast period, expanding at a CAGR of 7.10%. "The growing consumption of functional foods across India and China has augmented the growth of this regional market," TMR report states.
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EU Regulations Mandate Verification of Potential Health Benefits Offered by Probiotic Products
In terms of sales of probiotic products, Europe is one of the major regions for the market players. During the period between 2014 and 2020, Germany and France are expected to register steady growth at a CAGR of 6.80% and 6.60% respectively. Furthermore, the EU regulations have mandated the submission of any health claims made by probiotics manufacturers to the European Commission. This is expected to offer reliable guidance to consumers regarding the potential health benefits of probiotic products. On the other hand, North America accounts for a small share in the market. However, the region is anticipated to register substantial growth in the coming years.
The global probiotic market is estimated to expand at a CAGR of 7.40% during the period between 2014 and 2020. The market was worth US$62.6 bn in 2014 and is expected to reach a valuation of US$96.0 bn by 2020.
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Lack of Standardization to Restrict Growth of Global Probiotic Market
The growing awareness about the role of probiotic in gut health has aided the growth of the global probiotic market. Highly efficient healthy bacteria strains from probiotic such as Lactobacillus fermentum and Lactobacillus rhamnosus optimize the gut flora and prevent diseases such as diabetes, obesity, depression, and others. The growing consumption of functional food and the launch of new functional food products by the market players have further supported the market's growth.
However, the lack of standardization in the probiotic industry, in terms of enzyme concentration, is expected to hamper the growth of the market during the forecast period. The overall market has a significant opportunity to grow across the emerging economies with the rising awareness about the benefits of probiotics. "The ban on the usage of antibiotics in animal feed and the development of probiotics in new application areas hold immense growth opportunities for the market," a TMR analyst points out.