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U.S. Probiotics MarketPublished by: Frost & Sullivan Published: May. 1, 2001 Table of Contents
AbstractMarket Success Depends on Consumer Education The benefits of eating foods with probiotics, or live microbial ingredients, have been known for a century, but demand for probiotic foods has risen precipitously in the last few decades as more consumers reach for natural, healthful products. Nevertheless, most consumers are unable to differentiateone probiotic product from another. Probiotic companies must increase customer education while expanding their promotion of probiotics to awidening pool of potential buyers.This Frost & Sullivan report examines the U.S. market for probiotics, includingspecific analyses of the yogurt and dietary supplements markets. In addition, a comprehensive analysis of the market for probiotic cultures/bacteria is included in this research. By evaluating market drivers and restraints, tracking emerging trends, and providing expert forecasts, this study offers companies a comprehensive guide to the future of the industry. Innovative Products and Convenience Will Attract New Customers "Product innovation is a key factor for increasing market share," says the author of this study. The introduction of diverse products with new probiotic strains has had a significant impact on the growth of the yogurt market in recent years. For most consumers, though, taste and convenience will continue to be the most important selling points. Foods that are easy to eat, taste good, and are healthy are more realistic for the current American lifestyle and have better chances of success in this competitive market. This report examines consumer needs and offers strategic recommendations, helping market participants attract new customers and accelerate gains. Manufacturers Strive to Overcome High Costs of Producing Quality Products "Incorporating high-quality strains into functional food systems or dietary supplements involves greater investment," indicates the author. However, consumers may not be willing to pay more for products whose benefits they do not fully realize. Interestingly, the pricing analysis of probiotic dietary supplements found that, on the basis of bacterial numbers per product unit, the highest quality, higher priced products are not necessarily the most expensive.
Currently, the most expensive products are found in more specialized stores and bought by more knowledgeable customers. To appeal to wider audiences, manufacturers must find a way to compete against low-priced generic probiotic products sold in mass markets. This report highlights challenges that participants will face, enabling your firm to anticipate and overcome any hurdles that may lie ahead. |
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