Global Probiotic Products Market 2019-2023
About this market
Increasing M&A activities to drive growth in the market. As a part of expansion strategy, manufactures acquire or merge their businesses with other companies who can offer competitive advantages. This will aid companies to share their expertise in specific fields such as distribution network, production expertise, wide product lines, and others. Technavio’s analysts have predicted that the probiotic products market will register a CAGR of close to 8% by 2023.
Increase in new product launches
New product launches by regional and international players contribute to the growth of the global probiotic products market. Manufacturers of probiotics are adopting innovative and distributive strategies to increase the market size of these products. Successful new product launches are expected to accelerate the growth of vendors. A successful new product launch helps increase the revenue flow of a vendor and expand its consumer base.
Availability of counterfeit probiotic product
With the increasing consumption of probiotic supplements. there has been an equal increase in the cases of counterfeit products. The regulatory authorities have been identifying and taking legal actions against the manufacturers of such counterfeit products.
For the detailed list of factors that will drive and challenge the growth of the probiotic products market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Probi and Yakult Honsha the competitive environment is quite intense. Factors such as the increasing M&A activities and the increase in new product launches, will provide considerable growth opportunities to probiotic products manufactures. Chr.Hansen, Danone, Nestlé, Probi, and Yakult Honsha are some of the major companies covered in this report.
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