Market Leaders : Danone and Yakult Honsha are Focusing on Expansion, and new Product Launches Strategies to Strengthen Their Market Position in Probiotics Market
The global probiotics market is estimated to be valued at USD 61.1 billion in 2021 and is projected to reach USD 91.1 billion by 2026, at a CAGR of 8.3% during the forecast period. The increase in the consumption of functional foods such as yogurt especially in developing economies like Asia Pacific and awareness of health has resulted in the growth of probiotics market. The ban on the use of antibiotics particularly in the European region is projected to create growth prospects for probiotics manufacturers in the coming years.
Key players in the global probiotics market include Chr. Hansen (Denmark), Dupont (US), Danone (France), Yakult Honsha (Japan), and Nestlé (Switzerland). Expansions and new product launches were the core strengths of leading players in the probiotics market. These strategies were adopted by key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Market leaders such as Chr. Hansen (Denmark), Dupont (US), Danone (France), Nestlé (Switzerland), and Yakult Honsha (Japan) are focusing on tapping the potential markets through expansions and new product launches.
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Danone (France) is one of the major players in the global probiotics market. It offers probiotics products under the essential dairy and plant-based products business segment and under the brand names DanActive, Activia, Actimel, Danacol, ProViva, and Bio. The company has been focusing on strategies like expansion and new product launches to enhance its presence in the probiotics market. For instance, in December 2020, Danone launched a probiotic product for preventing lactation mastitis in breastfeeding mothers, which is sold exclusively in China. In 2018, the company formed a partnership agreement with Yakult (Japan) for developments associated in the probiotics market. The company sells its products in over 120 countries spanning Europe, North America, Asia Pacific, Latin America, the Middle East, and Africa.
Yakult Honsha (Japan) is one of the leading players in the probiotic drinks market. The company’s probiotic products are sold in over 38 countries at the global level. The company is engaged in the manufacturing and marketing of products for industries such as food & beverage, cosmetics, and pharmaceutical. Yakult Honsha has strengthened its position in the probiotics market through expansions and new product launches. For instance, in March 2019, Yakult Honsha started the production of Yakult fermented milk drink at its Foshan plant due to the increasing health awareness of probiotics in the satellite cities. The company has developed its probiotic operations in the Americas, Asia & Oceania, and Europe. As of March 2018, an average of 29.82 million bottles of probiotics were sold per day at a global level.
Related Reports:
Probiotics Market by Application (Functional Food & Beverages (Dairy Products, Non-dairy Beverages, Infant Formula, Cereals), Dietary Supplements, Feed), Ingredient (Bacteria, Yeast), Form (Dry, Liquid), End User, & Region - Global Forecast to 2026
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