Growth in Functional Beverages is expected to drive the Growth in Probiotic Market
The functional beverages market is the fastest-growing in the food & beverage sector. The market is expected to register a growth rate of 7.3%, during the forecast period. The growth of functional beverages is proposed to drive the probiotic drinks market, which is likely to have a high impact on the market for the 2-3 years. Further, the impact is projected to be medium during the forecast period, as the functional beverages market stabilizes.
The functionality of probiotic strains aids in effective digestion and prevents bacterial contamination, yeast infection and urinary tract infection. Probiotics are part of functional foods and beverages and help to improve the gut functionality. Consumers have become more interested in consuming probiotics as a way to boost their gut health is driving the in sales of beverages with functional ingredients and is proposed to drive the probiotic drinks market, which is likely to have a high impact on the market during the forecast period. Since 2016, there has been a rise of 31.2% in the sales of refrigerated probiotic drinks and juices. Further, the impact is projected to be medium during the forecast period, as the functional beverages market stabilizes.
Probiotics have become important in maintaining a healthful gut and stronger immunity. The probiotic drinks market has been segmented by type (dairy and fruit-based), distributional channel (online stores, super markets, health stores, others) and region (North America, South America, Europe, the Middle East & Africa and Asia-Pacific).
Traditionally, dairy drinks were fermented and used as yogurt, kefir, etc. Due to the growing awareness of their efficiency, these products were commercialized and brought to the forefront. The dairy drinks segment occupied the highest share in the market, owing to wide acceptance and adoptability. However, fruit-based drinks are expected to drive the market over the forecast period, due to the high nutrient profile of the fruits. However, the lactose-intolerant population and the high-fat content in dairy drinks are restraining the probiotic drinks market.
Growing awareness of the probiotic health benefits and high spending power on natural products are driving the market in the Asian countries. Asia-Pacific is the fastest growing market for probiotic drinks. In addition, fermented foods are the traditional foods consumed in Japan, China and others. All the factors, along with product innovations are expected to drive the market for probiotic drinks in this region. Europe and North America also hold a major market for probiotic products and ingredients. In Europe, consumers have a positive attitude towards probiotic products. Germany dominates the probiotic products market followed by U.K. and France. The most common probiotics used in the United States are lactobacillus and bifidobacterium.
MAJOR PLAYERS: AMUL, BIO-K PLUS INTERNATIONAL, BRIGHT DAIRY, CARGILL INC, FONTERRA CO-OP GROUP LTD., GOODBELLY, GROUPE DANONE SA, GRUPO LALA, KEVITA, INC. , LIFEWAY, NESTLÉ, ROYAL DSM NV, and YAKULT, amongst others.
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timeline
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. MARKET OVERVIEW
3.1.1 Growing Demand for Functional Food and Beverages
3.1.2 Preference for Probiotic Products Gaining from Evolving Applications
3.2.1 Regulations for Probiotic Products
3.3.1 High-Scope in Developing Economies
3.3.2 Increasing Demand for Natural Ingredients Market
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Type
4.2 By Distribution Channel
4.2.1 Online Stores
4.2.2 Super Market/Hyper Markets
4.2.3 Health Stores
4.3 By Region
4.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
4.3.4 South America
126.96.36.199 South africa
5. Competitive Landscape
5.1 Strategies Adopted by Key Players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. Company Profiles
6.2 Bio-K Plus International
6.3 Bright Dairy
6.4 Cargill Inc
6.5 Fonterra Co-op Group Ltd.
6.7 Groupe Danone SA
6.8 Grupo Lala
6.9 Kevita, Inc.
6.12 Royal DSM NV