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THE PROBIOTICS MARKET IN THE AMERICAS: FROM CANADA TO CHILE PROBIOTA AMERICAS 2015
PRESENTED BY MONICA FELDMAN, HEAD OF INDUSTRY RESEARCH
CONSUMER HEALTH
INTRODUCTION
THE RETAIL VALUE OF PROBIOTICS IN THE
AMERICAS AND DRIVERS OF GROWTH
RETAIL INNOVATION – FORMULATION,
DELIVERY, PACKAGING, PRICE AND
MARKETING
THE AMERICAS EVOLVING CONSUMER –
HEALTH AND WELLNESS TRENDS
FUTURE OPPORTUNITIES AND CHALLENGES
ACROSS THE AMERICAS
© Euromonitor International
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Disclaimer
Some of the information in this presentation is of a statistical nature and, while every attempt has been made to ensure accuracy and reliability,
Euromonitor International cannot be held responsible for omissions or errors.
Figures in tables and analyses are calculated from unrounded data and may not sum. Analyses may not totally reflect the companies’ opinions, viewer
discretion is advised.
Scope
INTRODUCTION
All values expressed in this presentation are in US$ terms, using a fixed 2014 exchange rate.
2014 figures are based on part-year estimates.
All historical and forecast data are expressed in constant terms; inflationary effects are excluded.
Consumer Health
US$216.2 billion
Vitamins and Dietary
Supplement
US$88.4 billion
Probiotic supplements
US$3.9 billion
Americas Probiotic
Supplements
US$1.8 billion
Health and Wellness
US$765.3 billion
Fortified Functional
Packaged Foods
US$275 billion
Total Pro/Pre Biotic Yoghurt
US$31.5 billion
Americas Total Pro/Pre Biotic
Yoghurt
US$8.5 billion
Sour Milk Products
US$8.0 billion
Americas Sour Milk Products
US$0.5 billion
Global (Retail Value 2014)
10.8
billion US$ RETAIL VALUE IN THE AMERICAS 2014
8.4% RETAIL VALUE UP FROM 2013
30.5% EXPECTED GROWTH BY YEAR 2019
© Euromonitor International
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Same continent with striking contrasts
THE RETAIL VALUE OF PROBIOTICS IN THE AMERICAS AND DRIVERS OF GROWTH
North America 354 million consumers 56.6% of Retail Value
Latin America 617 million consumers 43.4% of Retail Value
US$10.8 billion
Retail Value
in 2014
© Euromonitor International
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North America Latin America
29%
71%
Retail Value US$5.6 billion
Probiotic Supplements
Total Pro/Pre Biotic Yoghurt
4%
96%
Retail Value US$4.7 billion
Probiotic Supplements
Total Pro/Pre Biotic Yoghurt
2014 snapshot of North vs. Latin America markets
THE RETAIL VALUE OF PROBIOTICS IN THE AMERICAS AND DRIVERS OF GROWTH
© Euromonitor International
7
90
73
50
15
83 80
143
25
73 77
12
39
0
20
40
60
80
100
120
140
160
0
1,000
2,000
3,000
4,000
5,000
6,000
% g
row
th r
ate
20
09
/20
14
US
$ m
illi
on
Probiotics Retail Value Sales and Growth by Relevant Country
2014 % Growth 2009/2014
Top countries in probiotic value
THE RETAIL VALUE OF PROBIOTICS IN THE AMERICAS AND DRIVERS OF GROWTH
Top three countries hold
85% of retail value share
© Euromonitor International
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Probiotics retail value share by country in 2014 – figures in%
THE RETAIL VALUE OF PROBIOTICS IN THE AMERICAS AND DRIVERS OF GROWTH
Canada
8.3%
Ecuador
0.2%
Peru
0.4%
Chile
1.9%
Argentina
1.9%
Venezuela
1.3%
Brazil
28.1%
United States
48.3%
Mexico
6.3%
Bolivia
0.2%
Colombia
1.0%
© Euromonitor International
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0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
US
$ m
illi
on
North America – Retail Value of Probiotics by Type 2000/2019
Probiotic Supplements Total Pro/Pre Biotic Yoghurt Sour Milk Products
Year 2002
Decisive shift in probiotic
consumption by form
Consumption gap
US$2,404 million 2014
The North American new love for probiotics
THE RETAIL VALUE OF PROBIOTICS IN THE AMERICAS AND DRIVERS OF GROWTH
© Euromonitor International
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0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
US
$ m
illi
on
Latin America – Retail Value of Probiotics by Type 2000/2019
Probiotic Supplements Total Pro/Pre Biotic Yoghurt Sour Milk Products
Consumption gap
US$4,269 million 2014
Latin America preference for probiotic-rich foods and beverages
THE RETAIL VALUE OF PROBIOTICS IN THE AMERICAS AND DRIVERS OF GROWTH
© Euromonitor International
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North America US$1,621 million
Latin America US$203 million
Probiotic Supplements
North America US$3,653 million
Latin America US$372 million
Pro/Pre Biotic Spoonable
Yoghurt
North America US$372 million
Latin America US$2,842 million
Pro/Pre Biotic Drinking
Yoghurt
Market insights reveal regional options and preferences
THE RETAIL VALUE OF PROBIOTICS IN THE AMERICAS AND DRIVERS OF GROWTH
© Euromonitor International
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Science support
Specialty
Health claim
Delivery
Drivers of innovation
RETAIL INNOVATION – FORMULATION, DELIVERY, PACKAGING, PRICE AND MARKETING
© Euromonitor International
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Diarrheal
treatment
Digestive health
Oral health
Vaginal health
Skin health
Weight control
Sports endurance
New discoveries to bring new opportunities in the retail space
RETAIL INNOVATION – FORMULATION, DELIVERY, PACKAGING, PRICE AND MARKETING
© Euromonitor International
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Specialty premium
Sparkling drink Segmented by type of consumer
Health benefit specific
Convenient shot Confectionery
New formulations that help differentiate brands
RETAIL INNOVATION – FORMULATION, DELIVERY, PACKAGING, PRICE AND MARKETING
© Euromonitor International
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• Firms teach North American consumers how to make cultures at home
• Cultures available for sale online
North America
• Latin American consumers traditionally have made cultured yoghurt and drinks at home
• Cultures such as are available for sale at open public markets and equivalent merchants to eBay
Latin America
The do-it-yourself approach: Is homemade cultured re-emerging?
RETAIL INNOVATION – FORMULATION, DELIVERY, PACKAGING, PRICE AND MARKETING
© Euromonitor International
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Gastroenterologist recommendation claim
Align – US and Canada
Pharmacist recommendation claim
Florastor - US
Infomercials via ambassadors
Bio-K Plus - Canada
Digestive health improvement
challenge competition
Activia - US
Sponsored editorial content in mass media
Culturelle – US
Healthcare practitioner channel
(HPC)
Thorne Research - US
North America – examples of marketing strategies
RETAIL INNOVATION – FORMULATION, DELIVERY, PACKAGING, PRICE AND MARKETING
© Euromonitor International
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Dr. Barriga tablet game against diarrhea
Floratil - Brazil
Mommy internet Portal
Sinuberase - Mexico
Irritable bowel relief and vaginal health
Bion Transit
Bion Intime - Chile
Digestive health improvement
challenge competition
Activia - Mexico
Endorsement by gastroenterologist
association
Regeneris – Colombia
Segmentation by consumer: Child,
teenagers, and adult
Yakult - Mexico
Latin America – examples marketing strategies
RETAIL INNOVATION – FORMULATION, DELIVERY, PACKAGING, PRICE AND MARKETING
© Euromonitor International
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The number of baby boomers suffering from digestive ailments due to aging keeps increasing
Higher interest of middle-aged adults in maintaining digestive health
Increasing consumer awareness on health and wellness lifestyles
Certification of strains and CFUs
Mass and social media outreach
What drives consumers to purchase probiotics in North America
THE AMERICAS EVOLVING CONSUMER – HEALTH AND WELLNESS TRENDS
© Euromonitor International
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Younger adults are more receptive to health and wellness trends that drive sales of supplements
Strong recommendations from healthcare practitioners in the use of probiotic supplements for treatment
Recommendations from friends and family highly influence the purchase decision of probiotic supplements for health maintenance
Consumer education on probiotic supplements has increased at pharmacies
Supplements of questionable origin still sold in internet exchange sites such as Mercado Libre
What drives consumers to purchase probiotics in Latin America
THE AMERICAS EVOLVING CONSUMER – HEALTH AND WELLNESS TRENDS
© Euromonitor International
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Cannibalizing sales as probiotics applications expand? Foods/beverages vs. dietary supplements
FUTURE OPPORTUNITIES AND CHALLENGES ACROSS THE AMERICAS
Probiotic supplement
Combined supplement with probiotics
Multivitamin with probiotic
Yoghurt
Functional foods and beverages
Fermented foods and beverages
Consumer dilemma:
Why purchase a supplement if my food and/or beverage already contains probiotics?
© Euromonitor International
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Opportunities Challenges
Higher consumer interest on healthy lifestyles
Demographic shift to an adult population who may require products to maintain digestive health
Untapped opportunities in Latin America for probiotic supplements, not foods
Regulation of health claims
Cannibalization of sales
High prices of probiotics supplements
Achievement of positive return on investment (ROI) for new delivery forms and premium formulations
Final thoughts
FUTURE OPPORTUNITIES AND CHALLENGES ACROSS THE AMERICAS
THANK YOU FOR LISTENING Monica Feldman
Head of Industry Research – Consumer Health
Euromonitor International
224 South Michigan Ave. Suite 1500
Chicago, IL 60604
@euromonitor
www.facebook.com/euromonitorinternational
www.youtube.com/Euromonitor
© Euromonitor International
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