The North American probiotics market is projected to grow at a CAGR of 7.7% from 2014 to 2019. The market is lagging behind the European and Asia-Pacific markets because of a difference in lifestyles and food habits. The U.S. is the largest market in North America, followed by Canada and Mexico. The increasing concerns about preventive healthcare are driving North America's market growth. In the U.S., more than 70 million adults suffer from digestive problems caused by poor consumption habits. Awareness about the benefits offered by probiotics is a key driver for the probiotics industry here.
In this report, the North American probiotics market has been broadly categorized by its applications such as functional foods, functional beverages, dietary supplements, animal nutrition, and personal care. The functional foods market is projected to grow at the highest CAGR from 2014 to 2019. Awareness about the benefits of probiotic food is the major diving force for the industry in North America.
The U.S. is the largest probiotics market in North America, with a share of 58.12%, followed by Canada and Mexico. Mexico is projected to grow at the highest CAGR during the review period. The major factors driving growth in the Mexican market are awareness about probiotic foods, increase in purchasing power parity, and availability of FMCG products incorporated by probiotics.
The major factors driving growth in the Mexican market are awareness about probiotic foods, increase in purchasing power parity, and availability of FMCG products incorporated by probiotics.
The Groupe Danone (France) has a major chunk in the North American probiotics market. Other firms such as Chr. Hansen (Denmark), DuPont (U.S.), Lallemend Health Solutions (Canada), and Yakult Honcha Co. Ltd. (Japan) are competing for market share in this region. These companies are adopting strategies such as mergers & acquisitions, joint ventures, new product development, and expansion to increase their share in the North American probiotics market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis-industry analysis, market share analysis of top players, company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging- and high-growth segments of the North American probiotics market, high-growth regions and countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn, will help firms in garnering a greater market share. Firms purchasing the report could use any one or a combination of the five strategies mentioned below (market penetration, product development/innovation, market development, market diversification, and competitive assessment) to strengthen their market share.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on probiotics offered by the top 10 players in the North American probiotics market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the North American probiotics market.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various applications of probiotics across North America.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the North America probiotics market.
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the North American probiotics market.
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