India Probiotic Market Pegged to Grow at Around 20% by 2019
Rising health concerns, growing risk of stress and lifestyle related disorders and increasing number of foreign and domestic players in the market are propelling the demand for probiotic in India
The India Probiotic market is emerging as one of the most high growth potential markets worldwide due to multiple factors such as growing health concerns among consumers especially among the youth, changing food consumption patterns, increasing diabetic population, growing risk of stress/lifestyle related and cardiovascular diseases, and rising disposable income. The availability of probiotic is also increasing gradually due to expanding distribution channels across the country, which is steadily bridging the demand-supply gap.
According to the recently published report by TechSci Research “India Probiotic Market Forecast and Opportunities, 2019”, the probiotic market in India is projected to register a CAGR of 19.80% during 2014-19, in revenue terms. North India dominates the India probiotic market, in terms of sales revenue, followed by the Southern and Central regions of the country. Mother Dairy, Amul, Danone Yakult and Nestle India are among the leading producers of probiotic functional foods and beverages in India. These companies are forecast to register strong CAGR growth, in revenue terms, due to their expanding distribution network and focus on establishing exclusive outlets.
Probiotic functional foods and beverages is the largest segment in the India probiotic market, in terms of revenue share. The market for probiotic functional foods and beverages is expected to witness significant growth during 2014-19 due to rising popularity for these products among the youth. The probiotic drugs and dietary supplements segment is dominated by Dr. Reddy’s Laboratories, Tablets India and USV India, while Zeus Biotech, Unique Biotech and Polchem Hygiene Laboratories are leaders in the probiotic animal feed segment. The India probiotic animal feed market is largely unorganized due to presence of a large number of medium and small players.
“Despite being in nascent development stage, the probiotic market in India is projected to register strong growth through 2019 due to growing health concerns, rising incidences of lifestyle related disorders and increasing healthcare cost. The demand for probiotic drugs and dietary supplements is increasing rapidly, especially due to rising need for women and pediatric nutrition. With increasing purchasing power of consumers and rising urbanization, the demand for probiotic products in India is expected to grow further in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Probiotic Market Forecast and Opportunities, 2019” has evaluated future growth potential of the probiotic market in India and provides statistics and information on market structure, consumer behavior trends, etc. The report includes probiotic projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the probiotic market in India.