Newly released market study: Global Probiotics Market 2015-2019.
[USPRwire, Tue Jan 26 2016] Technavio's 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.
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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
* Dietary supplements
* Animal feed
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
* Animal probiotics
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
* Latin America
* North America
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