The India Probiotics Market is expected to grow at a compound annual growth rate of 16.55% over the forecast period to reach a market size of US$2.069 billion in 2027, up from US$ 0.708 billion in 2020. India has emerged as the second fastest-growing major economy in the world and is expected to be one of the top three economic powers by 2025, backed by its strong institutions and trade partnerships. India is the second most populated country in the world with a population of 1.37 billion, of which 62 % are below the age of 35. India’s population continues to drive annual real GDP growth, with private consumption accounting for almost 60 %of GDP. Food processors, importers, wholesalers, retailers, and food service operators are all part of a developing agribusiness sector. Apart from being a large food producer, India’s bulk, intermediate, consumer-oriented, and agricultural-related imports grew from $22 billion in 2013 to $25 billion in 2018, an increase of 10%.
The market for consumer-oriented foods that are imported has risen by 68% in the six years before 2019, at an annual growth rate of 9 percent. This growth is facilitated by a growing number of professional, brand-oriented importers, and an increase in the number of modern retail outlets and hotels carrying imported products.
Despite India's market remains limited due to high tariffs, ongoing import restrictions, and strong competition from the domestic industry, the imported packaged and consumer-ready foods are found in a growing number of gourmet grocery stores, in the imported foods sections of larger store formats, and in thousands of small neighbourhood stores. Nevertheless, such a diverse purchasing preference is also coupled with health-conscious consumers, which is on the rise in India.
With yogurt occupying a traditional presence across the nation, many market players are making a significant investment in R&D as well as making various combinations of both “spoonable” and drinkable probiotic yogurt, available to Indian consumers.
These products are increasingly being regarded as healthy snacks owing to the presence of a balanced source of proteins, carbohydrates, fats, minerals, and vitamins. For example, in 2017, Epigamia launched Epigamia Artisanal Curd, India’s first lactose-free curd that reportedly contained two gut-friendly strains - Lactobacillus Acidophilus and Bifidobacteria, which are important for a healthy digestive system.
Further, Yakult Danone India, a 50:50 joint venture between Yakult Honsha and Danone, released in 2018 the latest variant of its signature probiotic drink, called Yakult Light. It reportedly contains vitamins D and E, as well as Yakult's trademark Lactobacillus casei strain Shirota (LcS), but is made with less sugar.
Moreover, in 2019, Anlit Limited unveiled a few products in delectable VitaBite formats targeting immune health, which include LLPImmuneProbiotics, among others. The immune probiotic bites are composed of two active probiotic strains, Bifidobacterium lactis (Bl-04) and Lactobacillus acidophilus (La-14), and are infused with the company’s flagship Long Life Probiotics (LLP) technology that ensures high stability for the live bacteria in an edible chewable matrix under ambient conditions for up to 24 months, simultaneously protecting the active probiotic bacteria from the harsh conditions of the stomach, without hindering colonization, thus ensuring the bacteria thrive inside the colon. Thus, due to the aforementioned upward trends, various developments have taken place in the Indian Probiotic Market that is poised to fuel the healthy growth of the market during the forecast period.
The novel coronavirus pandemic has positively impacted the growth of India's probiotics market. Probiotics are known to boost immunity so in order to strengthen their immunity consumers in India created a huge demand for probiotics for the protection of their gut health during the pandemic. Additionally, the rise in the ageing population and growing understanding of the importance of preventive health has boosted the demand for probiotic drinks across India.
|Market Size Value in 2020||US$0.708 billion|
|Market Size Value in 2027||US$2.069 billion|
|Growth Rate||CAGR of 16.55% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Application, End-User, Function, Type, And Form|
|Companies Covered||Yakult, Danone, Nestle, Amul|
|Customization Scope||Free report customization with purchase|
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. India Probiotics Market, By Application
5.2. Functional Food and Beverages
5.3. Dietary Supplements
5.4. Animal Feed
6. India Probiotics Market, By End-User
7. India Probiotics Market, By Function
7.3. Preventative Healthcare
8. India Probiotics Market, By Type
8.5. Spore Formers
9. India Probiotics Market, By Form
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
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