The South America probiotics market is expected to register a CAGR of 7.1%, during the forecast period of 2018–2023. While the share of South America in the global market for probiotics is the smallest, estimated to be 12% in 2017, the region’s demand for these products is expected to post a healthy growth.
The past decade has been witness to the launch of more than 500 food & beverage probiotic products that have garnered exceptional response in terms of acceptance. Prevention and cure of disorders, such as lactose intolerance and inflammatory bowel disease are some of the benefits offered by probiotics, with rising health-consciousness levels and wider access to probiotic dietary supplements being the major factors sustaining growth. The beneficial effects of food with added live microbes (probiotics) on human health are being increasingly promoted by health professionals. Probiotic products available in the South American market today are usually in the form of fermented milk and yoghurts. However, with an increase in the consumer vegetarianism globally, there is also a demand for the vegetarian probiotic products.
The South America probiotics market is segmented by applications into functional food & beverages, animal feed, dietary supplements, and specialty nutrients. Dairy records a significant growth rate and is expected to continue to register a CAGR of 14%, during the forecast period, 2018 – 2023. Probiotic yogurts and beverages are widely available and are ideal healthy snacks. Feed probiotics are used to improve animal weight gain and feed efficiency, and also, to maintain and promote normal health status of domestic animals and fowls. Feed probiotics are widely used by the major mills as feed ingredients for piglets, calves, sows, and fowls.
Brazil holds the maximum market share in South America probiotics market with an estimated share of 48% in 2017 and also the fastest growing regional market for probiotics with a higher CAGR of about 11%, between 2018 and 2023.
Major Players - American Biologics, CHR Hansen Holdings A/S, Fonterra Cooperative Group, FrieslandCampina, General Mills Inc., FMC Corporation, Morinaga Milk Industry, Nestlé SA, Royal DSM NV, Yakult Honsha Co Ltd., among others.
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