FOOD, NUTRITION AND ANIMAL FEED

Vitamin E market outlook: Cosmetics & Dietary applications to offer dynamic growth opportunities over 2016-2024.

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Shifting consumer focus toward health and wellness benefits from vitamins consumption will surge the global vitamin E market. Increasing consciousness of adopting healthy food habits coupled with rise in spending capacity will significantly stimulate the vitamin E industry. According to Global Market Insights, Inc., “Vitamin E market size is estimated to grow at a CAGR of 3.5% over the period of 2016-2024.” Vitamin E has many benefits to the human health, including regulation of blood pressure, reproduction system, and in prevention of health problems. The trend of maintaining a healthy lifestyle which includes dietary supplements along with regular diets is equally popular across the developed as well as the developing economies. In addition to this, rising disposable incomes in these regions will boom the vitamin E industry in the coming years.

UK Vitamin E Market size, by application, 2013-2024 (USD Million)

UK Vitamin E Market size, by application, 2013-2024 (USD Million)

Furthermore, growing geriatric population base in U.S., Europe, and Japan has multiplied the use of medications for the cure of disorders coupled with precautionary supplements which will help to stay healthy and fit. This scenario has stimulated the need for mandatory intake of vitamin E from supplementary sources fueling the vitamin E market size.

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Based on products, vitamin E market is segmented into synthetic vitamin E and natural vitamin E. Natural vitamin E is further categorized into Tocopherol and Tocotrienols by products. Tocopherol is naturally found in fish, vegetable oils, nuts, and leafy vegetables. Tocopherols is projected to surpass USD 300 million by 2024, owing to rise in per capita income and consumers’ willingness to spend more on nutrition and dietary supplements. Europe and U.S. are the largest contributors to the overall consumption, as the majority of the population is inclined towards maintaining healthy lifestyles in turn boosting the vitamin E industry.

U.S. vitamin E market is set to witness escalating gains, owing to healthy food consumption and high disposable income. Moreover, healthcare regulations are also contributing in driving the regional growth. U.S. vitamin E market generated revenue over USD 50 million in 2015 and is estimated to grow considerably in the coming seven years.

Europe vitamin E market is projected to expand significantly due to increase in consumption of dietary supplements. Moreover, rising demand for high protein diets, particularly in Russia and Germany has slated the Europe animal feed market size. Rising prescriptions and recommended health supplements from the health professionals will further complement the regional industry growth.

Cosmetics applications in the vitamin E market is witnessing high growth rate increasing at 7% over the period of 2016-2024. The willingness to pay more for the products which prevents skin ageing and assures various other skin benefits with UV protection & moisture content for healthy and youthful skin will generate huge scope for vitamin E industry share in the coming seven years. Its usage in sunscreen and other cosmetics products where vitamin E helps in reducing inflammation on the skin will escalate the industry growth over the coming timeframe.

Dietary supplements application is another lucrative segment assuring heavy gains in the vitamin E industry. Rising demand for nutritional edibles in the form of powders, liquids, tablets, pills, and capsules particularly in the western countries will spur the vitamin E market growth. Dietary supplements vitamin E demand is expected to register a CAGR of 4% over the period of 2016-2024. Reduction of migraine headaches, strengthening of the immune system, controlling blood pressure levels, and protection from flu and cold are the major benefits obtained from the consumption of these dietary supplements.

Another profitable segment in the vitamin E industry is the animal nutrition market, which was worth USD 1 billion in 2015. Growing meat export from Asia Pacific countries will generate animal nutrition demand. Rising prevalence of livestock diseases has enabled the usage of better animal nutrition in turn driving the vitamin E market. Moreover, rising cattle breeding in China, India, Russia, and Brazil will generate heavy demand for Animal feed additives market. Synthetic vitamin E is a major product used in animal feed industry.

Asia Pacific dominated the global meat production, which was projected to be over 130 million tons. China vitamin E animal nutrition market worth USD 70 million in 2015, is anticipated to surge noticeably over the coming seven years.

Presently the vitamin E industry is highly competitive with emerging markets from India and China. Moreover, many other industry participants are focusing on investigating substitute sources to improve the characteristic of vitamin E.  The vitamin E market share is consolidated with top five industry participants catering to 50% of the global demand in 2015. The major market players include COFCO Tech Bioengineering DSM, BASF, American River Nutrition, Cargill, and ADM.

Author NameOjaswita Kutepatil

Prebiotics market outlook: Food & beverage sector to stimulate the industry growth over 2016-2023

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Prebiotics market has gained immense recognition in the recent years due to various health benefits of prebiotics which are increasingly appealing to the health-conscious population. Growing emphasis on improving digestive health and enhancing gut functionality are together responsible for the growth of prebiotics industry. As per a report by Global Market Insights Inc., Prebiotics Market is anticipated to surpass USD 7.5 billion with expected gain at a rate of 11.5% over the period of 2016-2023. Rising concerns about obesity and other lifestyle diseases such as diabetes, CVD, and intestinal related diseases will enable the consumers to opt for prebiotics ingredients and dietary supplements, in turn fueling the prebiotic market share.

Europe prebiotics market size, by application, 2015 & 2024 (USD Million)

Europe prebiotics market size, by application, 2015 & 2024 (USD Million)

Prebiotics acts as a support system to probiotics, in simple terms probiotics are the beneficial bacteria and prebiotics are its food supplements. Prebiotics naturally exits in small portion in certain foods, which can be easily added to the groceries such as wheat bran, bananas, onions, garlic, and food products such as table spreads, cereals, biscuits, breads, and yoghurts. The common types of prebiotics ingredients are inulin, galacto-oligosaccharides (GOS), fructo-oligosaccharides (FOS), and mannan-oligosaccharide (MOS). Increasing intake of these dietary supplements, owing to its tremendous health benefits will favor the growth of prebiotics market.

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Rising intake of inulin ingredient which helps in maintaining cholesterol levels and improving digestion will propel the prebiotics industry. Inulin market size is anticipated to surpass demand of 550 kilotons by 2023. Consumption of GOS based ingredients improves mineral absorption and relieving constipation, thereby surging prebiotics market size. MOS ingredient which is obtained from yeast of saccharomyces cerevisiae is anticipated to surpass USD 800 million by 2023.

The global prebiotics industry is segmented into animal feed, dietary supplements, and food & beverage industry. Rising use of prebiotics in cattle feed to enhance the immune system and metabolism of animals is expected to boost the overall demand for prebiotics market. Dairy, dry food, cereals, and fermented meat products in the food & beverage industry is another lucrative application augmenting the prebiotic market. The growth prospects and industry parameters in the application landscape of the global prebiotics market is as follows:

  • Dairy products application worth 2.1 billion in 2015, dominated the prebiotics market. Increasing sugar free and fat free products penetration due to high growth in obesity and diabetes will drive the dairy application demand in prebiotics industry.
  • Animal feed application is projected to exceed USD 750 million in the coming six years. MOS ingredient is majorly used in the formulations of animal feed for refining gut health of aquaculture poultry, swine, and bovine.
  • Fermented meat based products application is anticipated to witness maximum gains, owing to its properties such as improving fiber functionality, fat replacement, and stability & texture improvement.

Taking into consideration the regional outlook, North America prebiotics market is estimated to surpass a volume of 155 kilotons demand by 2023. US led the regional growth due to extensive use of prebiotics in animal feed ingredients for heath and quality of meat products.

Asia Pacific prebiotics market witnessing highest gains, is expected to grow significantly with a value generation of USD 2.5 billion in the coming years, owing to high demand from China and Japan. Increasing prevalence of chronic disease, high demand for protein, and increasing consumer spending capacity has fueled the prebiotics industry share. China and India prebiotic market are likely to witness ingredients demand over 495 kilotons in the coming six years.

Europe prebiotic industry is anticipated to register a CAGR of 9% over the period of 2016-2023. Growing food & dietary supplement application and rising digestive health concerns among consumers will boost the regional outlook.

Global prebiotics market share continues to be fragmented and highly competitive. The key industry participants include Beghin, FrieslandCampina, BENEO GmbH, Cargill, and Roquette


Author Name
Ojaswita Kutepatil

 

Food safety testing market outlook: Rising food safety & security concerns to significantly influence the growth over 2016-2024

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Increasing threats over food consumption have stimulated global food safety testing market and generated demand for effective test products that can ensure food safety. Food supply worldwide is facing a range of risks from environmental toxins, bacteria, and food allergens. Food safety testing industry size has been growing substantially, owing to the increasing threat of foodborne illness, and stringent food safety regulations. Moreover, expansion of import and export business of food supply across the globe is expected to further boost the demand for food safety testing market. According to Global Market Insights, Inc., “Food Safety Testing Market size worth USD 9 billion in 2015, is estimated to grow at a CAGR of 7% over the period of 2016-2024.”  The food safety testing industry growth will also be influenced by the expansion of global processed food industry which is anticipated to surpass USD 7 trillion by 2024.

U.S. Food Safety Testing Market size, by contaminants, 2013-2024 (USD Million)
U.S. Food Safety Testing Market size, by contaminants, 2013-2024 (USD Million)

The most common source for contamination of food is pathogens. These pathogens can cause various gastrointestinal disorders such as abdominal cramps, vomiting, diarrhea and nausea leading to increase in illness and death of around 2 million people every year. Growing food epidemic has mandated the laboratory testing for Salmonella, Listeria, E. Coli, Campylobacter types of pathogens, in turn making food pathogen testing market to be a major revenue pocket accounting for 30% of the global demand. Pesticide is another type of contaminant causing health disorders. The pesticide food safety testing market worth USD 800 million in 2015, will witness substantial growth, owing to regulatory norms in using of certified and organic pesticides.

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Contaminated food is a very serious issue which may result into demise. As per WHO’s statistical report in 2014, over 2.5 million people died due to diarrheal diseases. Moreover, U.S is facing an alarming rate of increase in foodborne illness resulting into nearly 5 thousand deaths and more than 325 thousand hospitalizations every year. This has generated the need to implement quality and safety checks, where consumers have the authority to trace their ready to eat meals, processed products, bakery, preserved & canned products. In this regard the EU and FDA have given conformities with consumers’ rights to track food through all production and distribution stages, in turn driving the food safety testing industry. In addition, major food regulatory bodies and authorities such as Good Hygiene Practices (GHP), Good Manufacturing Practices (GMP), Hazard Analysis Critical Control Point (HACCP), and Good Agricultural Practices (GAP) are extending extensive support in ensuring food authenticity, thereby, propelling the food safety testing market growth.

The food safety testing technology market has witnessed a noticeable shift towards rapid food safety testing technology market from the time consuming traditional food safety testing industry. Increase adoption in biosensors, ELISA, rapid culture detection, and PCR-based techniques are widely adopted technologies used to examine the count, metabolites, and type of micro-organisms.

The growth in food safety testing market is also poised to benefit from increasing consumption of meat, poultry, and dairy products. Unhygienic condition while skinning and handling animals in slaughter house is the key responsible factor favoring the meat and poultry food safety testing market. Similarly, dairy products can also get easily contaminated through infected animals. Regulatory bodies such as the FSIS and HACCP are taking major steps in preventing meat & poultry product contamination and implementing adequate pasteurization of dairy products stimulating the food safety testing industry share.

Europe food safety testing market valued over USD 2.5 billion in 2015, with U.K and Germany leading the regional demand. Increasing consumer awareness and stringent food safety regulations will boost the demand for Europe food safety testing market over the coming years. Asia Pacific food safety testing industry will emerge rapidly due to rising population, growing demand for food products, and increasing stringent regulations for food safety. China being the major export trade market is anticipated to witness annual growth rate of 11% over the period of 2016-2024.

The food safety testing market is consolidated with top three players sharing 45% of the overall business space. The key industry participants include Intertek, Bureau Veritas, SGS, Det Norske Veritas, Eurofins Laboratories, Idexx Laboratories, ALS Laboratory and Bio-Rad Laboratories.

Author NameOjaswita Kutepatil

Nutraceutical industry to primarily drive carotenoids market size over 2016-2024: Global revenue to surpass USD 300 million by 2024

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Rampant application of carotenoids across food & beverages, cosmetics, pharmaceuticals, and animal feed industries has fueled carotenoids market size. According to Global Market Insights, Inc., “Global carotenoids market share is projected to surpass USD 300 million by 2024.” Heavy use of carotenoids in the nutraceutical industry, owing to its positive effect on immune & cardiovascular system are expected to boost the carotenoids industry trends over the coming years. Higher spending on medical & healthcare insurance services along with the growing life expectancy of aging population is further expected to stimulate the global industry size over the next few years. Carotenoids act as a main precursor for amino acids in animal feeds and possess anti-oxidative characteristics, further enhancing its demand across animal feed additives market.

 

U.S. Carotenoids Market size, by product, 2015 & 2024 (USD Million)
U.S. Carotenoids Market size, by product, 2015 & 2024 (USD Million)

Major carotenoids products comprise lycopene, beta-carotene, astaxanthin, lutein, and canthaxanthin. Beta-carotene industry size worth USD 40 million in 2015, is forecast to register an annual growth rate of 4% over the coming seven years. Heavy product demand can be attributed to its increasing usage as an essential ingredient in diets, to avoid ailments pertaining to the eyes, heart, and skin. Canthaxanthin, which contributed towards nearly 10% of the global carotenoids market share in 2015, is projected to witness a high surge over the next few years due to rising consumer preference for bakery items, snacks, breakfast cereals, fruits, and baby ingredients. Moreover, its extensive usage across cosmetics industry due to its anti-tanning properties will further stimulate the product demand over the coming years.

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Lutein is another major carotenoid product, forecast to witness a substantial growth in the near future. The growth will primarily be driven by its high demand across pharmaceuticals, food, dietary supplements, nutraceuticals, and animal feed applications. Lycopene industry worth USD 15 million in 2015, is expected to grow considerably over the next few years due to its high application in cosmetics and pharmaceuticals sectors.

Shifting focus of consumers towards natural products has pushed growth of natural carotenoids market. Natural carotenoids industry size is expected to register a CAGR of 4% over the period of 2016-2024. The other prominent extraction of carotenoids is from the synthetic sources. Synthetic carotenoids market dominated the source landscape with a market value of USD 190 million in 2015. Low production cost and easy availability of synthetic resources will boost its industry share over the forecast timeframe.

Carotenoids market size in food & beverage sector is anticipated to grow substantially over the forecast period, owing to its large-scale application as food additives globally. Animal feed sector, which accounted for nearly 30% of the overall carotenoids market share in terms of volume, is projected to grow considerably over the coming years. The growth can be credited to its high nutrient content and improved taste. Growing consumer preference towards healthy meat appearance is expected to boost the carotenoids industry growth.

LATAM carotenoids market is expected to witness a considerable growth over 2016-2024, owing to changing lifestyles, rise in per capita income, and high consumer awareness about the benefits of product use. Argentina, Peru, Brazil, and Chile are expected to be the key growth drivers of the region.

Europe carotenoids industry will witness a substantial surge over the coming years due to the rapidly expanding food sector along with heavy product use as food coloring agent. Russia, Germany, Italy, and France are likely to be the key revenue pockets of the region.

Middle East & Africa carotenoids market is projected to witness a significant growth over the next few years, owing to rise in the aging population as well as high demand for the product across health supplements sector.

Market players will try to enhance their share by adopting business strategies such as product differentiation and high R& D investments. Key carotenoids industry players include Cyanotech Corporation, Allied Biotech Corporation, Chr. Hansen, Divis Laboratories Limited, D.D. Williamson, and Naturex Company.

Author NameDhananjay Punekar

Global animal feed additives industry size to surpass USD 22 billion by 2022

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Animal feed additives market size worth USD 16.11 billion in 2014, is expected to grow at a CAGR of 3.7 % over the period of 2015-2022. Rise in meat consumption of livestock such as poultry, cattle, and swine as a protein source is expected to boost the global industry trends over the coming years. Animal feed additives such as minerals, vitamins, fatty acids, and amino acids enhances metabolism and weight gains of the livestock. Livestock production estimated at 305 million tons in 2014, is expected to increase significantly over the coming years and will drive animal feed additives market growth. Furthermore, increase in meat consumption due to growing purchasing capacity and population base is expected to drive the global animal feed additives industry size over the next few years.Asia Pacific meat production sector contributed over 41% of the overall demand in 2014, while Europe and North America meat production industry contributed over 18% and 14% of the overall demand in 2014.

Europe animal feed additives market size, by product, 2012-2022 (USD Million)

Europe animal feed additives market size, by product, 2012-2022 (USD Million)
Based on the livestock, animal feed additives market is segmented into cattle, poultry, swine, and aquaculture. Animal feed additives market share in poultry worth USD 6 billion in 2014, is expected to witness high surge over the coming timeframe. The growth can be attributed towards rising health awareness along with strict monitoring of meat quality by the government due to increasing occurrence of diseases such as bird flu, etc.  Animal feed additives industry size in aquaculture is expected to record a CAGR of 4.2% over the coming six years.

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Amino acids market price valued at USD 5.3 billion in 2014, is expected to grow significantly over the coming years. The growth can be credited to the use of threonine, lysine, methionine, and tryptophan in feed additives of poultry and swine.

Asia Pacific animal feed additives market revenue worth USD 5.1 billion in 2014, is projected to witness a substantial growth over the coming six years. The growth can be attributed to rapid urbanization, strong economic development and increase in purchasing capacity of the consumers. Philippines, India, China, Thailand, Malaysia, and Indonesia are expected to be the major regional revenue contributors.

Latin America animal feed additives industry size, which contributed over 8% of the overall revenue in 2014, is anticipated to witness a substantial surge over the coming years. The growth can be credited to high standards of living, rising disposable income of the consumers, and high demand for meat. Argentina and Brazil are anticipated to contribute significantly towards the regional share.

Market players will try to increase their product portfolio and grow their regional presence through mergers & acquisitions. Key industry participants include BASF, Danisco Company, Nutreco Company, Evonik Industries, Addcon Group, Adisseo, Cargill Corporation, Biomin Company, and Kemin Industries.

Author NameDhananjay Punekar

Asia Pacific to generate heavy growth opportunities for the aquafeed market over 2016-2023

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The increasing global population base, which has already crossed the 7 billion mark is leading to scarcity of resources. Health constraints are one of the major issues, arising by this tight imbalance of supply/demand of these essential resources. However, people in this technologically advanced era are well-aware and informed about their health and the nutrition their body demands. This rising awareness and health consciousness among the people has led to a high demand for fish consumption globally. Fishes are a rich source of protein and omega-3 fatty acid, which enables the body to be resistant against diseases such as cardiovascular disorders, diabetes, obesity, etc. The intake of fishes demands for their healthiness as well, which is fostering the growth of aquafeed market worldwide. As per Global Market Insights, Inc., ‘the global aquafeed market is anticipated to surpass a revenue of USD 185 billion by 2023.’

North America Aquafeed Market Size, By End-use, 2012-2023 (Kilo Tons)

North America Aquafeed Market Size, By End-use, 2012-2023 (Kilo Tons)

The human fish consumption accounted for nearly 138 million tons in 2015, and is estimated to surpass 205 million tons by 2023, which in turn will stimulate the demand for aquafeed market. Moreover, surging demand from the pharmaceutical industries for the fish oil will also drive the industry growth over the coming years. The aquaculture additives market is also witnessing high growth, with CAGR estimations of 4% over 2016-2023. These additives are added to the fish food to enhance its nutritional value, thereby, ensuring sound health of the aquatic animals. These additives are mostly added in the form of Antibiotics, Amino Acids, Feed Acidifiers, and Vitamins.

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The government initiatives towards animal health management coupled with regulatory norms restricting any harm to the wildlife will further boost the aquafeed and the aquaculture additives market share. The antibiotics additives may witness a declining market over the coming years, owing to the FDA norm towards eradicating the use of antibiotics. EU commission indeed insisted on plant-based growth promoters in the animal feed industry. Amino acids market dominated the aquaculture additive product landscape in 2015, with a revenue of USD 255 million. The trend is likely to continue owing to the benefits offered by these additives such as faster metabolism, nutrient and protein absorption, etc. Feed acidifiers additives will also witness huge demand with the market witnessing the highest CAGR of 6% over the period of 2016-2023.

Carp, being the most popular aquatic species contributed towards a major share of the overall aquafeed market, having had a revenue of USD 21.5 billion in 2015. They are estimated to witness substantial growth over the coming years, owing to the high nutritional value and various health benefits such as lowering cholesterol levels, offered by these species. Another attractive class of aquatic animal contributing towards the aquafeed market share is Salmon. The recent estimates depict salmon farming to have been increased by almost 10 times in countries such as Chile and Norway. Salmons are an excellent source for strengthening muscles, improve cardiac health, and increase the metabolism process. Owing to these health perks, the salmon aquafeed market is anticipated to grow at a CAGR of 11% over 2016-2023.

The Asia Pacific aquafeed market dominated the regional landscape in 2015, with a consumption of almost 30 million tons in 2015. The region will continue to witness heavy demand over the coming years owing to the easy farming coupled with fresh water availability across this region. Moreover, heavy consumption, especially in countries like Thailand and Vietnam, which are popular for fish food meal, will contribute towards the regional growth. India and China will be the major revenue pockets for the Asia Pacific. North America aquafeed market, primarily led by the US is estimated to witness a revenue of USD 22 billion by 2023, owing to the heavy demand for seafood across this region.

The industry will flourish in the coming years with the growing consumption of aquatic species. The market players will focus on improving their product quality through investments in R&D activities. Consumer satisfaction will be the top priority for the industry participants to sustain their value in the market. Key market players sharing this business space are Cargill, Addcon, Biomin, Aller-Aqua, Avanti Feeds, BASF, Beneo, Cermaq ASA, DSM, and Skretting.

Author NameShikha Sinha

Asia Pacific to offer lucrative opportunities for the probiotics market over 2016-2023

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It was during 1980s when the concept of functional food first took its commercial shape in Japan. Since then, the business space for functional food has been expanding and will continue to rise over the coming years. Functional foods are referred to as the food additives with health benefits. The growing awareness among the consumers pertaining to the relation between health, nutrition, and diet is basically propelling the demand for these functional food products. One of the most popular names in this industry is ‘Probiotics’ which has become the eye-catcher for the food manufacturers to increase their product’s value. According to Global Market Insights, Inc. “the global probiotics market worth USD 36.6 billion in 2015, is anticipated to surpass a revenue of USD 64 billion by 2023.”

Probiotics are gaining utter significance owing to their high nutritional value and their ability to strengthen the immune system. These are referred to as ‘good’ bacteria which are capable of keeping the gut or the abdominal system healthy. Moreover, the researchers are continuously exploring the new benefits associated with the probiotics and are encouraging the intake of these friendly bacteria. For instance, a recent finding suggests that probiotics are proving to be of a high value in helping people with ailments such as diabetes, sugar levels, and Alzheimer’s disease.

U.S.  probiotics market size, by application, 2012 – 2023 (USD Million)

U.S.  probiotics market size, by application, 2012 - 2023 (USD Million)

The consumption of probiotics is popular among the humans as well as the animals. The rising livestock production and the growing meat consumption worldwide are encouraging the intake of probiotics in animals. Animal feed probiotics market having had a market share of USD 2.46 billion in 2015, is estimated to grow rapidly over the coming years, with revenue estimations of USD 4.2 billion by 2023. Human consumption of probiotics, which attained an appreciable revenue of USD 34.2 billion in 2015, is set to dominate the industry over the coming timeframe. The growth can be attributed to the rising health awareness among the consumers coupled with the frequent occurrence of diseases such as diabetes, obesity, etc.

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The most common sources for the intake of Probiotics are dairy products, fermented meat products, cereals, dry foods, non-dairy products, baked foods, and dietary supplements. Among these, food & beverages have been the most popular source of probiotics worldwide, accounting for nearly 84% of the total probiotics market share in 2015. The dairy products formulated with probiotics have witnessed significant gains and are estimated to surpass a revenue of USD 49 billion by 2023. Yogurt was the most popularly consumed dairy product with a share of nearly 57% of the global probiotics dairy market. Dietary food supplements will also contribute significantly towards the global probiotics market over the coming years, with an estimated CAGR of 7.4% over 2016-2023.

‘The global probiotics market size is estimated to grow at a CAGR of 7% over the period of 2016-2023.’ The increasing adoption of probiotics is being witnessed prominently on a global scale. The government support and favorable norms are also boosting the market size. For instance, on account of a favorable political scenario, the Europe probiotics market will see positive developments over the coming years. Organizations such as European Food Safety Authority, Scientific Committee on Animal Nutrition, and Novel Food Regulation will support the probiotics market growth. Dietary supplements are likely to be the prominent intake source in Europe, owing to the prevalence of digestive issues and obese patient base across this region.

The Asia Pacific probiotics market will be the most lucrative region for the manufacturers to explore new opportunities in this business space. India and China will be the key growth areas in APAC market, and Japan will continue to be the largest probiotics consumption hub over the coming seven years.

The probiotics industry is highly fragmented and will witness new developments year on year. The industry will spend heavily on R&D activities to add more value to the products. The players will try to enhance their brand value, as it will have a major impact on the buying decision of the consumers. Key market participants currently sharing this business space are Danone, Nestle, Yakult, Chr. Hansen, Arla Foods, Danisco, Mother Dairy, General Mills, Probi AB, Lallemand, Nebraska Cultures, and BioGaia AB.

Author NameShikha Sinha