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Global Probiotic Industry

  • March 2016
  • -
  • Global Industry Analysts
  • -
  • 443 pages

This report analyzes the worldwide markets for Probiotics in US$ Million. The Global and Regional Markets are further analyzed by the following Product Segments: Food and Beverage, Dietary Supplements, and Animal Feed. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Annual estimates and forecasts are provided for the period 2015 through 2022. Also, a six-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs. The report profiles 105 companies including many key and niche players such as -

AMUL
BioGaia AB
Bright Food (Group) Co., Ltd.
China-Biotics Inc.
Chobani, LLC

Table Of Contents

Global Probiotic Industry


I. INTRODUCTION, METHODOLOGY and PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations I-1 Disclaimers.............. I-2 Data Interpretation and Reporting Level I-2 Quantitative Techniques and Analytics I-2 Product Definitions and Scope of Study I-3 Food and Beverage..............I-3 Dietary Supplements..............I-4 Animal Feed.............. I-4

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW.............. II-1 Probiotics: Transforming Health and Wellness by Offering a Lifetime of Benefits..............II-1 Potential of Probiotics in Preventing and Treating Various Health Conditions: Foundation for Market Growth II-4 Probiotics: A Step towards Better Nutraceuticals II-4 Areas of Benefit of Certain Probiotic Bacteria II-5 Select Probiotic Bacteria and their Area of Benefit II-5 Lifestyle-related Disorders..............II-6 Improvement of Human Gut Health and Addressing Intestinal Complaints.............. II-7 Microbial Function..............II-7 Gut Flora Composition..............II-8 Hay Fever Treatment..............II-8 Allergy Prevention.............. II-9 Lowering Side Effects of Antibiotics II-9 Benefits of Psychobiotics..............II-9 Reducing Risk of Heart Diseases II-9 Significance in Bone Health..............II-10 Improves Oral Health..............II-10 Supports Iron Absorption..............II-10 Irritable Bowel Syndrome Treatment II-10 Reduces Bloating.............. II-11 Help Reduce Common Cold..............II-11 Helpful in Liver Disease..............II-12 Helps Combat Flu.............. II-12 Probiotics: Vital to Endure Chemotherapy? II-12 Global Market Outlook..............II-12 Preventive Healthcare and Unabated Health Consciousness Sustain Growth in the Developed Markets II-13 Impact of EFSA Ban on Probiotics in Labels in a Nutshell II-14 Developing Countries Continue to Offer Lucrative Growth Opportunities.............. II-14 Table 1: Annual Household Spend on Probiotics in Asia (2015E): Unfurling the Market Potential (includes corresponding Graph/Chart)..............II-15

Table 2: World Market for Probiotics: Geographic Regions Ranked by CAGR (2015-2022) - Asia-Pacific, Middle East and Africa, Latin America, US, Canada, Japan and Europe (includes corresponding Graph/Chart) II-15 India and China: Markets with Immense Growth Potential II-16 Stagnation of Developed Markets Causes a Shift in Focus to China.............. II-16

2. COMPETITION.............. II-17 Probiotics: An Intensely Competitive Market II-17 Table 3: Leading Probiotics Companies Worldwide (2014): Percentage Breakdown of Market Share for Chr Hansen, Danisco, Danone, Nestle, Yakult, and Others (includes corresponding Graph/Chart).............. II-17 Select Probiotic Strains Manufactured by Leading Players for Prominent Brands..............II-18 Table 4: Leading Yoghurt Companies Worldwide (2015E): Percentage Share Breakdown of Volume Sales for Danone, Lactalis, Private Label, Yoplait and Others (includes corresponding Graph/Chart)..............II-18

Table 5: Leading Probiotic Yogurt Brands Worldwide (2015E): Percentage Breakdown of Share for Actimel, Activia, Bio Danone, Chamyto, Chobani, Private Label, R 1, Wahaha and Yakult (includes corresponding Graph/Chart) II-19 Select Probiotic Yogurt Brands and their Bacterial Strains II-19 Pharmaceutical Companies Ride the Probiotic Wave II-20 Growing Consumer Awareness Favors Manufacturers' Margins II-21 Focus on Healthier Innovations: Need of the Hour II-21 Need for Regional and Cultural Customization II-21 Research Backed Ingredients and Media Coverage: Vital for Product Differentiation..............II-21 E-Retailing Expands Growth Opportunities for Market Participants II-22 Table 6: Factors Influencing Online Purchase Decision - Percentage Share Breakdown by Consumer Preferences (includes corresponding Graph/Chart)..............II-23 Innovative Marketing Strategies: Essential for Success in the Marketplace.............. II-23

3. MARKET TRENDS, ISSUES, AND DRIVERS II-24 Surging Demand for Probiotic Dairy Products Drives Strong Market Growth.............. II-24 Dairy Products: The Most Popular Probiotic Delivery Vehicle II-24 Probiotic Yogurt: One of the Dominant and Fastest Growing Probiotic Products..............II-25 Table 7: Annual Per Capita Consumption (in Kilograms) of Yogurt for Select Countries: 2015E (includes corresponding Graph/Chart).............. II-26

Table 8: Global Yogurt Market by Category (2015E): Percentage Breakdown for Conventional and Pro/Pre-Biotic Yogurt Categories (includes corresponding Graph/Chart) II-27 Probiotics Cash in on Greek Yogurt's Popularity II-27 Table 9: Factors Influencing Sales of Greek Yogurt: Percentage Share Breakdown by Consumer Preferences (includes corresponding Graph/Chart)..............II-28 Promising Applications of Probiotics in Non-Dairy Products Offers Immense Growth Potential II-28 Select Probiotics Applications in Non-Dairy Products II-29 Meat-Based Probiotic Products: An Efficient Mode of Probiotic Delivery to the GI Tract..............II-30 Probiotic Confectionery: The Next Big Thing II-30 Surging Demand from the Food and Beverages Industry Benefit Market Expansion.............. II-31 Biopolymers for Stabilization of Probiotics in Foods II-31 Rising Popularity of Functional Foods Supports Market Growth II-31 Sales of Mood Enhancing and Brain Health Probiotic Food Products Gain Momentum..............II-32 Probiotics: The Preferred Ingredient for Digestive Health Related Food and Drinks..............II-33 Table 10: Global Market for Digestive Health Food and Drinks by Ingredients (2015): Percentage Breakdown for Food Enzymes, Prebiotics and Probiotics (includes corresponding Graph/Chart).............. II-34

Table 11: Global Market for Digestive Health Foods and Drinks by Region (2015): Percentage Breakdown for Americas, Asia-Pacific, Europe and Middle East and Africa (includes corresponding Graph/Chart)..............II-34 Probiotic Dietary Supplements: One of the Fastest Growing Nutritional Supplements Categories II-34 Table 12: Global Market for Dietary Supplements by Category (2015): Percentage Breakdown for Conventional and Pro/Pre-Biotic Categories (includes corresponding Graph/Chart).............. II-35 Women: An important Consumer Category for Probiotic Dietary Supplements.............. II-35 Myriad Benefits of Probiotics in Children and Infants Health Lends Traction to Market Growth II-36 Probiotics Reduces Antibiotic-Associated Diarrhea among Infants II-37 Probiotics Help Children Fight Atopic Dermatitis II-37 Infant Probiotics - Bifidobacterium and Lactobacillus II-37 Probiotics in Pediatric Gastrointestinal (GI) Therapy II-37 Key Opportunity Indicators:..............II-38 Table 13: Global Population of Children in the Age Group of 0-15 Years by Region (2015E): Less than 15 Years Population (In Millions) for Africa, Americas, Asia, Europe, and Oceania (includes corresponding Graph/Chart) II-38

Table 14: Global Population of Less than 15 Years Children (2015E): Percentage of Less than 15 Years Population of the Total Population for Major Regions and Countries (includes corresponding Graph/Chart)..............II-39

Table 15: Global Population of Children Between 0-4 years (2015E and 2020P) (includes corresponding Graph/Chart) II-40 Improvement in Skin Functioning and Other Superior Attributes Drives Adoption in Personal Care Products II-40 Probiotic Skincare: The Latest Beauty Trend II-41 American Academy of Dermatology Reveals Probiotic Advancements for Skin Care..............II-41 Growing Prominence of Probiotics in Weight Management Offers Opportunities on a Platter..............II-41 Probiotics to Enhance Metabolism in Obese Patients II-42 Facts and Statistics on the Global Obesity Epidemic Important Opportunity Indicators..............II-43 Table 16: Severely Obese Population (in Thousands) Worldwide by Country: 2014 and 2025 (includes corresponding Graph/Chart) II-44

Table 17: Global Obesity Levels (2013): Percentage Share Breakdown of Total Obese Population by Leading Countries (includes corresponding Graph/Chart) II-44 Rising Demand for Quality Animal Produce Drives Demand for Animal Feed Probiotics..............II-45 Probiotics in Poultry Feed to Enhance Yield without Adverse Effects.............. II-46 Growing Interest in Food Nanotechnology Opens Up New Avenues of Growth for Nano-Sized Probiotic Additives II-46 Nanoencapsulation to Offer Eco-Friendly Delivery of Probiotics II-47 Ever-changing Consumer Preferences Triggers Research and Development Activity..............II-47 List of Currently Used Probiotic Cultures II-48 Favorable Demographic and Economic Trends Strengthen Market Prospects.............. II-49 Aging Population: A Weighty Demographic Driver II-49 Table 18: Aging (65+) Demographics as a Percentage of Total Population for Major Countries: 2000, 2011, and 2020 (includes corresponding Graph/Chart) II-50

Table 19: Global Aging Population (in Thousands) by Age Group: 1975, 2000, 2025, and 2050 (includes corresponding Graph/Chart).............. II-51

Table 20: Global Population Statistics for the 65+ Age Group (Male and Female) for Major Countries/ Regions: 2013 (includes corresponding Graph/Chart)..............II-52 Longer Life Expectancy..............II-53 Table 21: Life Expectancy for Select Countries in Number of Years: 2015E (includes corresponding Graph/Chart) II-53

Table 22: Global Life Expectancy at Age 60 and 80 Years: 2010-2015; 2020-2025; and 2045-2050 (includes corresponding Graph/Chart) (includes corresponding Graph/Chart) II-54 Shift Towards Less Invasive/Non Invasive Treatments II-54 Ballooning Global Population..............II-54 Table 23: Global Population Estimates (2000-2050) (includes corresponding Graph/Chart)..............II-55 Table 24: World Population in Millions by Geographic Region: 2010, 2020, and 2030 (includes corresponding Graph/Chart) II-55 Rapid Urbanization.............. II-55 Table 25: Total Population Worldwide by Urban and Rural Population in Thousands: 1950-2050P (includes corresponding Graph/Chart).............. II-56 Mounting Healthcare Costs Driving the Need for Preventive Healthcare.............. II-57 Rising Disposable Incomes..............II-57 Growing Middle Class Population II-57 Table 26: Global Middle Class Population (in Millions) by Geographic Region: 2010, 2020P and 2030P (includes corresponding Graph/Chart)..............II-58

Table 27: Global Middle Class Population by Geographic Region: Percentage Share Breakdown for 2010, 2020P and 2030P (includes corresponding Graph/Chart) II-59 Viability: A Cause of Concern..............II-59 Microencapsulation Improve Delivery of Probiotics II-60 Key Growth Restraining Factors in a Nutshell II-60

4. REGULATORY ENVIRONMENT..............II-61 Evaluation of Probiotics in Food - A Systematic Approach II-61 Guidelines by Joint FAO/WHO Working Group II-61 Introduction.............. II-61 Guidelines for Probiotics..............II-61 Genus/Species/Strain..............II-61 In Vitro Tests to Screen Potential Probiotics II-62 Safety Considerations..............II-62 In Vivo Studies Using Animals and Humans II-63 Health Claims and Labeling..............II-63 Recommendations..............II-64 Growing Regulatory Control..............II-64 The European Health Claim Regulations (No. 1924/2006) II-65 The Generic Descriptors Regulation (No. 907/2013) II-65

5. PRODUCT OVERVIEW.............. II-66 Introduction.............. II-66 Probiotics Defined..............II-66 Probiotic Functioning Mechanism..............II-67 Concept of Prebiotics..............II-67 Synbiotics.............. II-67 Probiotic Products - A Briefing..............II-68 Probiotic Strains.............. II-68 Lactobacillus Acidophilus..............II-68 Bifidiobacterium Bifidum..............II-69 Bifidiobacterium Longum..............II-69 Lactobacillus GG.............. II-69 Lactobacillus Bulgaricus..............II-70 Lactobacillus Casei..............II-70 Lactobacillus Reuteri..............II-70 Major Species/Strains of Select Probiotics Bacteria II-70 Major Applications..............II-71 Animal Feed.............. II-71 Dietary Supplements..............II-71 Food and Beverage.............. II-71 Key Benefits of Probiotics and Prebiotics II-71 Hypocholesterol Action..............II-72 Bowel Cancer.............. II-72 Effect of Pathogens..............II-72 Reduction in Virulence..............II-73 Tips to Customers.............. II-73 Species.............. II-73 Potency.............. II-73 Refrigeration.............. II-73 Desiccants.............. II-74 Stability.............. II-74 Fructo-oligosaccharides..............II-74 Method of Consumption..............II-74 Dosage.............. II-74 Probiotic Risk Factors..............II-75 A Need for Consultation..............II-75 Safety Measures.............. II-75 Probiotics and Probiotics Research: Historical Perspective II-75 Research Validity..............II-76 Application Effectiveness: Pulse and Rotation Methods II-76

6. PRODUCT INNOVATIONS/INTRODUCTIONS II-77 New Probiotic Sparkling and Ade Product Lines Added by GoodBelly II-77 Suja, Bob's Red Mill, FlapJacked Roll Out New Probiotic Based Products.............. II-77 Lallemand Health to Unveil New Probiotic Strains and Probiotic Formula and Strains..............II-77 Sanofi Korea Introduces New Probiotic Supplement II-77 GHT Rolls Out New Probiotic Supplement II-77 Derbycare, AB-Biotics to Unveil AB-Kolicare in China II-77 Nestle Introduces Probiotic Powder Formula for Children II-77 MLF Biotech Develops Liv-Pro Probiotics II-78 GoodBelly Launches Probiotic Protein Shakes II-78 Suja to Launch Probiotic-Based Functional Waters II-78 Essential Source Unveils TriActive Biotics Junior II-78 MegaFood Extends MegaFlora Range of Products II-78 Ganeden and Morning Sunshine Kitchen to Roll Out Probiotic Pro2Bites.............. II-78 UAS LifeSciences Unveils UP4 ADULT CUBES II-78 Nature Made Advanced Dual Support, a New Probiotic from Nature Made.............. II-78 KirkmanA® Unveils Pro-Bio Gold in Chocolate Flavor II-79 Natrol Introduces Probiotic Defense+ II-79 Nature Made Rolls Out Nature Made Advanced Dual Support II-79 Lallemand Introduces New Probiotic Solutions II-79 KeVita Introduces Cleansing Probiotic Tonic II-79 Skystar to Roll Out New Probiotic Product for Cows II-79 Solgar Unveils New Line of Capsules II-79 Lallemand Introduces Oral Health Probiotics II-79 Probi Unveils Digestis in Turkey II-80 ReNew Life Introduces New Capsules II-80 Probi Introduces Digestis in Korea II-80 Probi Introduces Travel-friendly Digestis II-80 Probi Introduces Mage in South Korea II-80 Probi Introduces New Oral Care Line II-80 Ganeden Introduces New Lines..............II-80 Ganeden Introduces BC30 Cappuccino in K-Cups II-80 Ganeden Introduces BC30 Probiotic HPP Juice II-81 Fruit d'Or Unveils Supplement for Women II-81 Wakunaga Launches Probiata..............II-81 Pure Encapsulations Launches PureHeartacents Probiotic II-81 ReNew Life Rolls Out Ultimate Floraao Women's Complete 90 Billion II-81 Culturelle Rolls Out Culturelle Digestive Health Probiotic Chewables.............. II-81 AB-Biotics Unveils AB-Dentis..............II-81 DuPont Secures FDA GRAS..............II-81 BioGaia Introduces Drops and Tablets in Brazil II-82 Nebraska Cultures and Viva 5 Introduce Probiotic Gummies II-82 The Bite Market Introduces GF Cookies II-82 Morinaga Obtains GRAS for Bifidobacterium breve M-16V II-82 DuPont Introduces Howaru..............II-82 Nordic Naturals Reveals Vegetarian Probiotic II-82 Pure Encapsulations Reveals PureHeart II-82 Wakunaga Reveals Probiata™..............II-82 Jarrow Introduces Jarro-Dophilus EPS 25 Billion II-83 Daflorn LLC Introduces Probiotic Coffee II-83 AB-Biotics Secures EU Patent..............II-83 ReNew Life Unveils Ultimate Flora™ Women II-83 Ganeden Unveils New Products..............II-83 Gencor Unveils New Technology..............II-83 Scimera BioScience Unveils New Probiotic Formulation II-83 TheB?™ Introduces Organic Probiotic Kombucha II-83

7. RECENT INDUSTRY ACTIVITY..............II-84 Novozymes Takes Over PVG..............II-84 Novozymes Enters Into Partnership with Adisseo II-84 Lifeway Foods to Extend Distribution of Probiotic Smoothies to Mexico.............. II-84 Glanbia Nutritionals Extends Cooperation with Ganeden for Offering GanedenBC30®..............II-84 Pharmavite and Probi Ink New Distribution and Marketing Agreement II-84 DuPont and AB-Biotics Ink Collaboration and Licensing Agreement for AB-Life(R)..............II-84 Probi Inks Distribution Agreement with Sanofi II-84 Novozymes Announces Plans to Enter Probiotic Animal Feed Market II-85 Probi Obtains Dietary Supplement Order from Pharmavite II-85 Quest Selects Capsugel DRCaps..............II-85 BiO-LiFE and Probi Enter into Partnership for Introduction of Probiotic Product in Malaysia II-85 BioGaia Enters into Various Distribution Agreements II-85 Probi Enters Long-Term Agreement with Health World Australia II-85 Probi Enters Probiotic Partnership with Bio-Life II-86 DuPont Establishes Probiotic Unit in China II-86 BioGaia and Nestle Enter Agreement II-86 BioGaia Enters Distribution Agreement for China II-86

8. FOCUS ON SELECT GLOBAL PLAYERS..............II-87 AMUL (India).............. II-87 BioGaia AB (Sweden).............. II-87 Bright Food (Group) Co., Ltd. (China) II-88 China-Biotics Inc. (China)..............II-88 Chobani, LLC (US).............. II-88 Chr. Hansen A/S (Denmark)..............II-89 Groupe Danone SA (France)..............II-89 DuPont Nutrition and Health (US) II-89 Garden of Life LLC (US)..............II-90 General Mills (US)..............II-90 Hangzhou Wahaha Group (China)..............II-90 Kirkman (US).............. II-91 Lallemand-Institut Rosell (Canada) II-91 Lifeway Foods, Inc. (US)..............II-91 Meiji Holdings Co., Ltd. (Japan) II-92 Mother Dairy (India)..............II-92 Natren, Inc. (US).............. II-92 Nestle Nutrition (Switzerland) II-93 Probi AB (Sweden).............. II-93 Renew-Life (USA).............. II-94 Seven Seas Ltd. (UK)..............II-94 Valio Ltd. (Finland)..............II-94 Yakult Honsha Co., Ltd. (Japan)..............II-95

9. GLOBAL MARKET PERSPECTIVE..............II-96 Table 28: World Recent Past, Current and Future Analysis for Probiotics by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Africa and Latin America Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart)..............II-96

Table 29: World Historic Review for Probiotics by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Africa and Latin America Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart).............. II-97

Table 30: World 14-Year Perspective for Probiotics by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East and Africa and Latin America Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) II-98

Table 31: World Recent Past, Current and Future Analysis for Probiotic Food and Beverage by Geographic Region - US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart)..............II-99

Table 32: World Historic Review for Probiotic Food and Beverage by Geographic Region - US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart).............. II-100

Table 33: World 14-Year Perspective for Probiotic Food and Beverage by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) II-101

Table 34: World Recent Past, Current and Future Analysis for Probiotic Dietary Supplements by Geographic Region - US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart)..............II-102

Table 35: World Historic Review for Probiotic Dietary Supplements by Geographic Region - US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart).............. II-103

Table 36: World 14-Year Perspective for Probiotic Dietary Supplements by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) II-104

Table 37: World Recent Past, Current and Future Analysis for Probiotic Animal Feed by Geographic Region - US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart)..............II-105

Table 38: World Historic Review for Probiotic Animal Feed by Geographic Region - US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) II-106

Table 39: World 14-Year Perspective for Probiotic Animal Feed by Geographic Region - Percentage Breakdown of Dollar Sales for US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of World Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)..............II-107

III. MARKET

1. THE UNITED STATES.............. III-1 A.Market Analysis.............. III-1 Market Overview.............. III-1 The United States: A Flourishing Market for Probiotics III-2 List of Leading 10 Probiotics Brands in the US: 2015 III-2 Table 40: List of Select Commercial Probiotics III-3 New Products Hold Immense Growth Potential III-5 Changing Preferences of US Consumers Augurs well for Probiotics.............. III-5 Sales of ‘Probiotic Shots' Gain Momentum III-5 Consumer Education: Key to Market Success III-5 Consumer Marketing Trends..............III-6 Probiotic Food Manufacturers Target Kids Segment III-6 Product Innovation..............III-6 Quality Control: Need of the Hour III-6 Surging Demand for Yogurt Drives Market Growth III-6 List of Leading 5 Yogurt Companies in the US: 2015E III-7 Key Opportunity Indicators..............III-7 Table 41: Yogurt Shipments (in US$ Million) in the US: 2012, 2013, 2014 and 2015E (includes corresponding Graph/Chart).............. III-7

Table 42: Per Capita Consumption (in Pounds) of Yogurt in the US: 2012, 2013, and 2014 (includes corresponding Graph/Chart).............. III-8

Table 43: Frozen Yogurt Production (in Thousand Gallons) in the US: 2012, 2013, 2014 and 2015 (includes corresponding Graph/Chart).............. III-8

Table 44: Yogurt Market in the US by Product Category (2015E): Percentage Breakdown of Value Sales for Frozen Yogurt, Refrigerated Yogurt, and Yogurt Drinks (includes corresponding Graph/Chart) III-9

Table 45: Yogurt Launches in the US by Product Category (2015E): Percentage Breakdown of Number of Launches for Spoonable Yogurt, and Yogurt Drinks and Liquid Milk (includes corresponding Graph/Chart) III-9 Demand for Greek Yogurt Driven by Rising Health Consciousness III-9 Table 46: Greek Yogurt Sales (in US$ Million) in the US: 2012, 2013 and 2014 (includes corresponding Graph/Chart) III-10

Table 47: US Market for Greek Yogurt by Subcategory (2015E): Percentage Share Breakdown of Number of Launches for Cake and Sweet Products, Cereals/Energy Bars/Snacks, Cultured Milk and Yogurt Drinks, Dips, Frozen (dairy-based), Fruit, Spoonable and Others (includes corresponding Graph/Chart).............. III-10 Booming Functional Foods Market Offers the Perfect Platform for Market Expansion..............III-11 Rising Popularity of Probiotics in Functional Foods Augurs Well for the Market..............III-11 Profile of American Functional Food Consumers III-11 Growing Prominence of Gut and Digestive Health Boosts Probiotics Consumption..............III-12 Probiotics Piggy-Backing on Colon Cleansing's Rising Popularity.............. III-12 Probiotics: Addressing Various Comorbidities and Promoting Preventive Healthcare..............III-13 Health Concerns among American Consumers III-13 Women's Health: A Potential Niche III-13 Heart Health: A Major Area of Concern for Americans III-14 Aging Baby Boomers: An Important Growth Driver III-14 Table 48: Percentage Breakdown of Population in the US by Age Group: 2015, 2050, and 2100 (includes corresponding Graph/Chart).............. III-14

Table 49: North American Aging Population by Age Group: 1975, 2000, 2025P, and 2050P (includes corresponding Graph/Chart).............. III-15

Table 50: CVD in the US: Cardiovascular Disease Prevalence in Adults by Gender and Age Group (includes corresponding Graph/Chart).............. III-15

Table 51: CVD in the US: Cardiovascular Disease Incidence by Gender and Age Group (per 1,000 Adults) (includes corresponding Graph/Chart) III-16

Table 52: Leading Causes of CVD Fatalities in the US: Percentage Breakdown of Mortality for Coronary Heart Disease, HBP, Heart Failure, Stroke, and Others (includes corresponding Graph/Chart) III-16 Table 53: Obesity Prevalence in the US Adults: 2014 ( includes corresponding Graph/Chart) III-17 Table 54: High Obesity Prevalence among US Adult Population (2014): Percentage of US Adults who are Underweight, Normal Weight, Overweight, and Obese (Class I, Class II, and Class III) (includes corresponding Graph/Chart).............. III-17 Probiotic Supplements Offers Huge Growth Opportunities III-18 List of Leading Probiotic Supplement Brands in the US: 2016E III-18 Organic Probiotics: A Niche yet Growing Market III-18 Key Challenges Hampering Probiotic Prospects in the US III-18 GMO Ingredients..............III-18 Price and Quality..............III-19 Shelf Life of the Product..............III-19 Distribution Channels..............III-20 Regulatory Environment..............III-20 List of FDA Regulated Probiotics Product Categories III-21 International Probiotics Association III-21 Product Launches..............III-21 Strategic Corporate Developments III-26 Select Key Players..............III-27 B.Market Analytics..............III-30 Table 55: US Recent Past, Current and Future Analysis for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-30

Table 56: US Historic Review for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-31

Table 57: US 14-Year Perspective for Probiotics by Segment - Percentage Share Breakdown of Dollar Sales for Food and Beverage, Dietary Supplements and Animal Feed Markets for years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-32

2. CANADA.............. III-33 A.Market Analysis.............. III-33 Market Overview.............. III-33 Surging Functional Foods Market Benefit Probiotics Consumption III-33 Rising Popularity of Yogurt Signals Opportunities III-34 Table 58: Average Annual Household Spending (In C$) on Yogurt in Canada: 2012, 2013, and 2014 (includes corresponding Graph/Chart)..............III-34 Regulations.............. III-35 Probiotic Health Claims Permitted by Health Canada III-35 Product Launches..............III-36 Lallemand-Institut Rosell - A Major Canada- Based Company III-36 B.Market Analytics..............III-37 Table 59: Canadian Recent Past, Current and Future Analysis for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-37

Table 60: Canadian Historic Review for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart)..............III-38

Table 61: Canadian 14-Year Perspective for Probiotics by Segment - Percentage Share Breakdown of Dollar Sales for Food and Beverage, Dietary Supplements and Animal Feed Markets for years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-39

3. JAPAN.............. III-40 A.Market Analysis.............. III-40 Japan: A Global Leading Market for Probiotics III-40 Key Growth Driving Factors in a Nutshell III-40 Development of New Microorganism Strains to Sustain Healthy Market Growth.............. III-41 Aging Population: The Best Target for Japanese Food Makers III-41 Table 62: Percentage Breakdown of Population in Japan by Age Group: 2015, 2050, and 2100 (includes corresponding Graph/Chart).............. III-42

Table 63: Japanese Elderly (65+ Years) Population: 2000-2020 (includes corresponding Graph/Chart) III-42

Table 64: Aging Population Growth (%) in Japan: 2015E-2060P (includes corresponding Graph/Chart) III-43 Yogurt: A Potential Laden Market III-43 Table 65: Japanese Market for Yoghurt (2015E): Percentage Breakdown of Production by Dairy and Non-Dairy Companies (includes corresponding Graph/Chart) III-43 Japanese Health and Wellness Products Market: A Macro Perspective.............. III-44 Select Key Players..............III-44 B.Market Analytics..............III-45 Table 66: Japanese Recent Past, Current and Future Analysis for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-45

Table 67: Japanese Historic Review for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart)..............III-46

Table 68: Japanese 14-Year Perspective for Probiotics by Segment - Percentage Share Breakdown of Dollar Sales for Food and Beverage, Dietary Supplements and Animal Feed Markets for years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-47

4. EUROPE.............. III-48 A.Market Analysis.............. III-48 Market Overview.............. III-48 Favorable Demographics Propel Market Growth III-49 Table 69: European Population By Age Group (2014): Percentage Share Breakdown of Age groups 0-19, 20-39, 40-59, 60-79, and 80+ (includes corresponding Graph/Chart) III-50 Competitive Landscape..............III-50 Noteworthy Trends and Issues III-51 Prebiotics and Probiotics: A Promising Combination III-51 Flourishing Dairy Sector to Promote Probiotics Consumption III-51 Yogurt Drink Drives Demand for Probiotics III-51 Table 70: European Market for Yogurt (2014): Percentage Breakdown of Number of Launches for Germany, France, UK, Italy, and Spain (includes corresponding Graph/Chart) III-52

Table 71: European Market for Sour Milk Products (2014): Percentage Breakdown of Number of Launches for Germany, France, UK, Italy, and Spain (includes corresponding Graph/Chart).............. III-52 Rising Popularity of Functional Foods Drives Probiotics Consumption.............. III-52 Eastern Europe: A High Growth Region III-53 Intense Research and Development Activity on Prebiotic Strains Benefits Market Prospects..............III-53 Key Regulations.............. III-53 The European Health Claim Regulations (No. 1924/2006) III-53 The Generic Descriptors Regulation (No. 907/2013) III-54 B.Market Analytics..............III-55 Table 72: European Recent Past, Current and Future Analysis for Probiotics by Geographic Region - France, Germany, Italy, UK, Spain, Russia, and Rest of Europe Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart).............. III-55

Table 73: European Historic Review for Probiotics by Geographic Region - France, Germany, Italy, UK, Spain, Russia, and Rest of Europe Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-56

Table 74: European 14-Year Perspective for Probiotics by Geographic Region - Percentage Share Breakdown of Dollar Sales for France, Germany, Italy, UK, Spain, Russia, and Rest of Europe Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-57

Table 75: European Recent Past, Current and Future Analysis for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-58

Table 76: European Historic Review for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014(includes corresponding Graph/Chart)..............III-59

Table 77: European 14-Year Perspective for Probiotics by Segment - Percentage Share Breakdown of Dollar Sales for Food and Beverage, Dietary Supplements and Animal Feed Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-60

4a. FRANCE.............. III-61 A.Market Analysis.............. III-61 Market Overview.............. III-61 Aging Populace Offers Huge Market Potential III-61 French Health and Wellness Foods and Drinks Market: A Macro Perspective.............. III-61 Groupe Danone SA - A Major France-Based Company III-61 B.Market Analytics..............III-62 Table 78: French Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-62

Table 79: French Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-63

4b. GERMANY.............. III-64 A.Market Analysis.............. III-64 Market Overview.............. III-64 Changing Consumer Preferences to Drive Market Growth III-64 Health and Wellness Products Market: A Macro Perspective III-64 Economic Recovery Benefits Health and Wellness Food and Beverages.............. III-64 Biggest Winners are Organic and Locally Sourced Health and Wellness Products..............III-65 Competitive Environment Remains Fragmented III-65 Discounters Continues to be the Strongest Channel III-65 Future Prospects Shaped by Changing Consumer Preferences III-65 B.Market Analytics..............III-66 Table 80: German Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-66

Table 81: German Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-67

4c. ITALY.............. III-68 Market Analysis.............. III-68 Table 82: Italian Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-68

Table 83: Italian Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-69

4d. THE UNITED KINGDOM..............III-70 A.Market Analysis.............. III-70 Market Overview.............. III-70 Probiotic Drinks: Consumption Demographics III-70 Booming Functional Foods Market Bodes Well for Probiotics Consumption.............. III-71 Increasing Yogurt Sales to Promote Market Expansion III-71 Prominence of Gut Health Drives Probiotics Demand III-71 Favorable Demographics to Fuel Market Growth III-71 Table 84: Obesity Prevalence Rates (%) in the UK by Region: 2013 (includes corresponding Graph/Chart) III-72 Dairy Sector: A Major End-User III-72 Table 85: UK Dairy Market by Distribution Channels (2015E): Percentage Breakdown of Volume Sales for Convenience Stores, Discounters, Supermarkets/Hypermarkets, Traditional Grocers and Others (includes corresponding Graph/Chart) III-73 Strategic Corporate Development III-73 Seven Seas Ltd. - A Major UK-Based Company III-73 B.Market Analytics..............III-74 Table 86: UK Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-74

Table 87: UK Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-75

4e. SPAIN.............. III-76 A.Market Analysis.............. III-76 Market Overview.............. III-76 Spanish Market for Health and Wellness Products: A Macro Perspective.............. III-76 Product Launches..............III-76 B.Market Analytics..............III-77 Table 88: Spanish Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-77

Table 89: Spanish Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-78

4f. RUSSIA.............. III-79 A.Market Analysis.............. III-79 Market Overview.............. III-79 Rapidly Growing Yoghurt Market Benefits Market Expansion III-79 Table 90: Russian Yoghurt Market by Product Category (2015E): Percentage Share Breakdown of Volume Sales for Aromatized Yoghurt, Probiotic Yoghurt, Yoghurt Drinks, and Yoghurt with Fruit Fillings (includes corresponding Graph/Chart).............. III-79 Health and Wellness Products in Russia: A High Potential Market III-80 TV Shows and Brands' Advertising Facilitate Consumer Education III-80 Competition in Health and Wellness Tightens III-80 Development of Modern Retail Formats Facilitates Growth of Health and Wellness..............III-80 Russia Remains a Market with a High Growth Potential for Health and Wellness..............III-80 B.Market Analytics..............III-81 Table 91: Russian Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-81

Table 92: Russian Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-82

4g. REST OF EUROPE.............. III-83 A.Market Analysis.............. III-83 Product Launches..............III-83 Strategic Corporate Developments III-84 Select Key Players..............III-85 B.Market Analytics..............III-87 Table 93: Rest of Europe Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart).............. III-87

Table 94: Rest of Europe Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-88

5. ASIA-PACIFIC.............. III-89 A.Market Analysis.............. III-89 Asia-Pacific: Fastest Growing Market Worldwide III-89 Table 95: World Market for Probiotics: Geographic Regions Ranked by CAGR (2015-2022) - Asia-Pacific, Middle East and Africa, Latin America, US, Canada, Japan and Europe (includes corresponding Graph/Chart) III-89

Table 96: Annual Household Spend on Probiotics in Asia (2015E): Unfurling the Market Potential (includes corresponding Graph/Chart)..............III-90 High Rate of Lactose Intolerance: A Potential Opportunity III-90 India and China Offer Significant Growth Opportunities III-90 Table 97: China and India Lead Global Population (July 2013): Table Depicting China and India's Huge Population Vis-a-vis Other Countries' Population (in Million) by Age Group (includes corresponding Graph/Chart) III-91 Expanding Middle Class to Drive Growth III-91 Table 98: Global Middle Class Population by Geographic Region: Percentage Share Breakdown for 2010, 2020P and 2030P (includes corresponding Graph/Chart) III-92 Asia's Aging Population Offers Significant Growth Opportunities III-93 Table 99: Over 65 Years Individuals as % of Total Population in Select Asian Countries (includes corresponding Graph/Chart)..............III-93 B.Market Analytics..............III-94 Table 100: Asia-Pacific Recent Past, Current and Future Analysis for Probiotics by Geographic Region - China, India and Rest of Asia-Pacific Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-94

Table 101: Asia-Pacific Historic Review for Probiotics by Geographic Region - China, India and Rest of Asia-Pacific Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart)..............III-95

Table 102: Asia-Pacific 14-Year Perspective for Probiotics by Geographic Region - Percentage Share Breakdown of Dollar Sales for China, India and Rest of Asia-Pacific Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-96

Table 103: Asia-Pacific Recent Past, Current and Future Analysis for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-97

Table 104: Asia-Pacific Historic Review for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart)..............III-98

Table 105: Asia-Pacific 14-Year Perspective for Probiotics by Segment - Percentage Share Breakdown of Dollar Sales for Food and Beverage, Dietary Supplements and Animal Feed Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-99

5a. CHINA.............. III-100 A.Market Analysis.............. III-100 Market Overview.............. III-100 Stagnation of Developed Markets Causes a Shift in Focus to China.............. III-100 Surge in Functional Foods Consumption Signals Opportunities III-101 Probiotic Children's Supplements Offers Significant Potential III-101 Favorable Demographics Bodes Well for Future Market Growth III-101 Table 106: Prevalence (%) of Overweight and Obese Population in China (2013) (includes corresponding Graph/Chart).............. III-102 Yucheng: China's Probiotic Hub III-102 Government Lends a Push to Probiotics Consumption III-102 Chinese Market for Health and Wellness Foods and Drinks: A Macro Perspective..............III-103 Product Launches..............III-103 Strategic Corporate Developments III-104 Select Key Players..............III-104 B.Market Analytics..............III-106 Table 107: Chinese Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-106

Table 108: Chinese Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-107

5b. INDIA.............. III-108 A.Market Analysis.............. III-108 Indian Probiotics Market on a Fast Growth Track III-108 List of Select Probiotic Formulations Available in India III-109 Increasing Incidence of Lifestyle and Stress Related Diseases: A Major Demand Driver III-110 Probiotics Make Inroads into the Functional Foods Market III-110 Popularity of Yogurt Augurs Well for Market Prospects III-111 List of Select Yogurt Brands in India III-111 Bigwigs Lock Horns..............III-111 Key Factors Favoring Growth in the Indian Probiotic Market III-112 Major Pharmaceutical Companies into Probiotics III-112 Physicians Promoting Probiotics III-112 Dairy Companies Exploring Probiotics Segment III-112 Economic Development Aids Growth III-112 Ageing Population..............III-113 Pharma Growth.............. III-113 Pricing.............. III-113 Lack of Stringent Regulation..............III-113 Regulatory Environment..............III-113 Labeling Requirements for Probiotics: III-114 Select Key Players..............III-114 B.Market Analytics..............III-115 Table 109: Indian Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-115

Table 110: Indian Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-116

5c. REST OF ASIA-PACIFIC..............III-117 A.Market Analysis.............. III-117 Focus on Select Markets..............III-117 Australia and New Zealand..............III-117 Growing Awareness of Health Issues Spur Probiotics Market III-117 Competitive Scenario..............III-117 Table 111: Australian Dairy Products Market by Distribution Channel (2015): Percentage Breakdown of Volume Sales for Foodservice, Retail Supermarkets and Others (includes corresponding Graph/Chart) III-118 South Korea: Growing Prominence of Health and Wellness Signals Bright Prospects for Probiotics III-118 Product Launch.............. III-119 Strategic Corporate Developments III-119 B.Market Analytics..............III-120 Table 112: Rest of Asia-Pacific Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart)..............III-120

Table 113: Rest of Asia-Pacific Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-121

6. THE MIDDLE EAST and AFRICA..............III-122 Market Analysis.............. III-122 Table 114: Middle East and Africa Recent Past, Current and Future Analysis for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-122

Table 115: Middle East and Africa Historic Review for Probiotics by Segment - Food and Beverage, Dietary Supplements and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-123

Table 116: Middle East and Africa 14-Year Perspective for Probiotics by Segment - Percentage Share Breakdown of Dollar Sales for Food and Beverage, Dietary Supplements and Animal Feed Markets for years 2009, 2016 and 2022 (includes corresponding Graph/Chart)..............III-124

7. LATIN AMERICA.............. III-125 Market Analysis.............. III-125 Table 117: Latin America Recent Past, Current and Future Analysis for Probiotics by Geographic Region - Brazil and Rest of Latin America Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-125

Table 118: Latin America Historic Review for Probiotics by Geographic Region - Brazil and Rest of Latin America Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-126

Table 119: Latin America 14-Year Perspective for Probiotics by Geographic Region - Percentage Share Breakdown of Dollar Sales for Brazil and Rest of Latin America Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-127

Table 120: Latin America Recent Past, Current and Future Analysis for Probiotics by Segment - Food and Beverage, Dietary Supplement, and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-128

Table 121: Latin America Historic Review for Probiotics by Segment - Food and Beverage, Dietary Supplement, and Animal Feed Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart)..............III-129

Table 122: Latin America 14-Year Perspective for Probiotics by Segment - Percentage Share Breakdown of Dollar Sales for Food and Beverage, Dietary Supplement, and Animal Feed Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-130

7a. BRAZIL.............. III-131 A.Market Analysis.............. III-131 Market Overview.............. III-131 Functional Dairy Products Popular among Brazilians, Bodes Well for the Market..............III-131 Product Launch.............. III-131 B.Market Analytics..............III-132 Table 123: Brazilian Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) III-132

Table 124: Brazilian Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) III-133

7b. REST OF LATIN AMERICA..............III-134 A.Market Analysis.............. III-134 Mexico: An Important Regional Market III-134 Table 125: Leading Companies in the Mexican Yogurt Market (2015E): Percentage Share Breakdown of Value Sales for Danone, Yakult, Yoplait, and Others (includes corresponding Graph/Chart).............. III-134 Popularity of Functional Foods Augurs Well for Probiotics III-134 B.Market Analytics..............III-135 Table 126: Rest of Latin America Recent Past, Current and Future Analysis for Probiotics with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart)..............III-135

Table 127: Rest of Latin America Historic Review for Probiotics Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-136

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 105 (including Divisions/Subsidiaries - 111

The United States (65) Canada (6) Japan (3) Europe (23) - France (2) - Germany (1) - The United Kingdom (5) - Spain (2) - Rest of Europe (13) Asia-Pacific (Excluding Japan) (13) Middle East (1)

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