Global probiotics market to grow at CAGR of 7.2% during 2013-2018 period amid increasing awareness about probiotic products
December 20, 2013
– Research and Markets has announced the addition of the "Global Probiotics Products Market 2014-2018" report to their offering.
The analysts forecast the Global Probiotics market to grow at a CAGR of 7.23 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing awareness about probiotic products. The Global Probiotics market has also been witnessing the increase in R&D activities. However, government regulation could pose a challenge to the growth of this market.
The key vendors dominating this market space are Danisco A/S, Danone S.A., Nestlé SA, and Yakult Honsha Co. Ltd.
Other vendors mentioned in the report are Arla Foods Inc., BioGaia AB, Chr. Hansen A/S, Clover Industries Ltd., Fonterra Co-operative Group Ltd., Ganeden Biotech plc, General Mills Inc., Institut Rosell-Lallemand, Lifeway Foods Inc., Probi AB, Royal DSM N.V., and Seven Seas Ireland Ltd.
Commenting on the report, an analyst from the team said: R&D activities are critical for vendors in the Global Probiotic Products market as they enable them to develop new products and technologies for the production of probiotic products. An increase in R&D activities has led to an increase in applications of new strains of probiotics and the demand for probiotic products. Ireland is one of the leading countries that pursues research in probiotics. Also, vendors such as Danone and Yakult heavily invest in R&D activities for probiotics. These two vendors together established the Global Probiotics Council in 2004 to create awareness, develop new products, and collaborate with government bodies with regard to probiotics. Thus, the increase in R&D activities is expected to open up new avenues for the growth of the Global Probiotic Products market during the forecast period.
According to the report, one of the major drivers in the market is the increasing awareness about probiotic products among consumers across the world. Awareness about the benefits provided by probiotics to humans and animals is increasing, in turn creating a favorable demand for probiotic products.
Further, the report states that one of the major challenges hindering the growth of the market is the increasing government regulations regarding production, distribution, and marketing of probiotic products in many countries such as the US.
For more information visit http://www.researchandmarkets.com/research/cghf24/global_probiotics
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