Probiotic market is is expanding very quickly in India
The probiotics market is one of the highest growth potential markets in the country. Due to growing health consciousness among the people, change in diet, increasing number of patients with Type II Diabetes, and lifestyle-related disorders like obesity, probiotics have become popular among the masses as an organic solution to the problem. This has created quite a significant supply-demand gap and has birthed new opportunities for entrepreneurs who want to enter in this field.
According to the research conducted by the World Health Organization (WHO), nearly 31% of all deaths worldwide are caused by heart-related diseases. Alarmingly, 82% of these premature deaths happened in low and middle-income countries like India. This has made people adopt a more health-centric lifestyle and has increased the demand for probiotics in the market. Moreover, the demand for probiotics isn’t just limited to humans. Many farmers practising animal husbandry are opting for probiotics food products and supplements for their cattle as well.
Although, there are many foreign and domestic brands that are already enjoying a trailblazing performance in the lucrative probiotic market of India, last year, 87 startups and entrepreneurs were funded by the Government. Earlier, the market had been divided into three major segments: Probiotic functional food and beverages; Probiotic drugs and dietary supplements; and Probiotic animal feed. Lately, beauty & cosmetics also becomes a prominent category in this realm.
Risers Accelerator, a conglomerate of 35 successful young entrepreneurs based out of Delhi aims at empowering startups with good market potential. Even though the probiotic market is relatively new in India, it is expanding very quickly and those who stick their feet into it now, will have a very lucrative future.
Pravin Khandelwal, Director, Leadership and Motivation at Risers Accelerator said, “Given the increasing healthcare cost, rising lifestyle disorders and a generation that is health conscious, complemented with the increasing purchasing power of the Indian customer and rapid urbanization, the probiotic market in India is going to really bloom in the coming few years. This health-centric lifestyle is a boon for probiotic startups. At Risers Accelerator, we have always invested in startups that have shown great market potential, and startups in the field of probiotics have a real opportunity now to make their impact on the market. We intend to empower such startups to attain their goals and contribute in raising the country’s economy.”