Globally, health consciousness amongst consumers continues to influence their lifestyle choices. As a result, many consumers are opting for healthier alternatives or the inclusion of dietary supplements into their diets, such as Probiotics, to ensure their gut remains healthy and to manage and prevent digestive and general health issues. Moreover, consumers are particularly moving towards Probiotics that have been added to various food products, the most popular being breakfast cereals.
Insight Survey’s latest SA Probiotics Industry Landscape Report 2019 uncovers the global and local markets based on the latest information and research. It describes the market drivers and restraints as well as the relevant global and local market trends to present an objective insight into the South African Probiotics industry environment, market dynamics and its future.
The Global Probiotic Dietary Supplements market was valued at US$2.8 billion in 2019, as illustrated in the graph below. The market is predicted to grow strongly, at a compound annual growth rate (CAGR) of 7.5%, between 2019 and 2024. In terms of the regional markets, Asia-Pacific represented the largest regional market in 2019 and is predicted to grow at a CAGR of 9.6% between 2019 and 2024. This was followed by North America and Europe, representing the second and third largest regional markets, respectively.
Similarly, the South African Probiotic Supplements market has increased with a compound annual growth rate (CAGR) of 13.2% between 2014-2019, and is forecast to continue growing with a CAGR of 9.1% over the 2020-2024 period. The growth of the market is attributed to more and more consumers becoming aware of the benefits and importance of Probiotics in maintaining their digestive health. One of the key trends that have been observed both globally and in South Africa, is the combination of Probiotics with various food products, such as meal replacements and protein shakes, fermented products, and more popularly breakfast cereals.
The combination of Probiotics with food products makes it easy and convenient for consumers to maintain their gut health. Some manufacturers are already focusing on this growing trend, with the launch of products containing Probiotics. As an example, FUTURELIFE was the first company in the world to combine cereal with live Probiotics. Their Bran Flakes with Probiotics product contains 10 individually packed sachets of Howaru Premium Probiotics, which includes the Lactobacillus Acidophilus NCFM and Bifidobacterium Lactis HN019 bacterial strains.
Additionally, this trend has also been observed in the development of baby cereal products which includes added Probiotics. A company, Happy Family, for example, have developed and introduced a range of baby oatmeal cereal containing probiotics.
Another example is the inclusion of Probiotics in meal replacements and protein shakes. Velobiotics, a global brand available in South Africa, is a meal replacement shake with Probiotics. Primal Nutrition is a South African range of scientifically formulated meal replacement and protein shakes as well as energy bars. The company recently launched a range of Diet Shakes that are specifically formulated for women and contains Prebiotics, Probiotics, and Digestive Enzymes, amongst other ingredients.
The growing awareness amongst consumers regarding gut health is having a significant impact on the Probiotics industry, which has resulted in the launch of innovative, new products to address consumer trends and needs.
The South African Probiotics Industry Landscape Report 2019 (97 pages) provides a dynamic synthesis of industry research, examining the local and global Probiotics industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from manufacturing to retailing, market size trends, industry trends, industry drivers and challenges, and pricing analysis.
Some key questions the report will help you to answer:
- What are the current market dynamics of the global Probiotics industry?
- What are the latest SA Probiotic industry trends, drivers, and restraints?
- What are the value and volume trends in the SA Probiotic Supplements market (2014-2019)
and forecasts (2020-2024)?
- Who are the key manufacturing, distribution and retail players in the SA Probiotics industry?
- What are the prices of popular Probiotic brands at retail outlets and pharmacies?
Please note that the 97-page report is available for purchase for R27,500 (excluding VAT). Alternatively, individual sections can be purchased for R10,000 (excluding VAT). For additional information simply contact us at firstname.lastname@example.org or directly on (010) 140-5756 or (021) 045-0202.
For a full brochure please go to: South African Probiotics Industry Landscape Report 2019
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