The country’s probiotic market is emerging as one of the as potentially one of the biggest growth markets in the world, with other factors, like changing food tastes, higher diabetes rates and rising disposable income, also influencing the trend.
The availability of probiotics has also been on the rise due to expanding distribution channels across the country as a bridge to what was once a supply gap.
Five years of growth
According to a recently published report by TechSci Research, India’s probiotic market will register revenue growth of 19.80% each year to 2019. North India dominates the market, in terms of sales revenue, followed by southern and central regions.
Mother Dairy, Amul, Danone Yakult and Nestlé India are among the leading producers of probiotic functional foods and beverages in India. TechSci has predicted that these companies will register strong revenue growth due to their expanding distribution networks and focus on establishing exclusive outlets.
Probiotic functional foods and beverages is the largest segment in the India market in terms of revenue share. The market for these is expected to witness significant growth from 2014-19 due to an increase in popularity among young people.
Women and children to the fore
Meanwhile, 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, which is largely unorganised due to presence of a large number of medium and small players.
"Despite being in an early stage of development, the probiotic market is projected to register strong growth through 2019 due to growing health concerns, rising incidences of lifestyle related disorders and increasing healthcare cost,” said Karan Chechi, TechSci’s research director.
“The demand for probiotic drugs and dietary supplements is increasing rapidly, especially due to the rising need for female and pediatric nutrition. With consumer purchasing power growing and urbanisation on the rise, the demand for probiotic products is expected to grow further over the coming years."