How has the probiotics market evolved over the last 12 months?
We have seen some interesting market shifts over the past 12 months. A small pull back on market growth in the US, probably fueled by a combination of education gaps at the HCP and consumer level and too many copycat products in the market. Then in APAC, that market is starting to experience exponential growth. Where in Europe we are starting to see a small comeback in the supplement market. So varying situations which are region specific, just like the regulatory environments around the globe.
What is on the cutting-edge of probiotics research?
As you know the science cycle and research takes some time before we start seeing any results. I believe that this year we’ll probably see all the brain gut research initiated from the last two years which many companies began. Additionally, earlier this year we started seeing sports application research coming out and I also believe many of these strains will be tied into weight management and metabolic syndrome type applications.
What challenges are probiotics companies facing in 2019? What can they do to overcome them?
This years and upcoming year’s challenges will be product development with specific applications for one – seeing that companies are trying to differentiate themselves. Consequently this will be influenced primarily by the regulatory environment. As IPA continues to meet up with different governments globally to educate on appropriate models to product commercialization and support Argentina with the Codex work, IPA’s role of being ‘The Global Voice of Probiotics®’ could not be and come at a more significant time.
What innovations will be most influential for the probiotics market over the next five years?
What we are seeing at this moment is dose delivery research in a vast array of applications. Will they all turn into finish products; only time will tell. The other and more significant innovation is the all other ‘biotic’ (parabiotic, eubiotic, psychobiotic, etc…) market which we are seeing develop. Again, as a differentiator companies are investing heavily into these areas.
What can attendees expect from the Probiotics Resource Center at SupplySide West 2019?
As show and collaborating partner, it will be IPA’s forth year hosting the PRC and it keeps growing. In this probiotic specific area of the exhibition, visitors will be able to access a wide range of content, including scheduled PRC theater presentations with specific themes, product showcases, and have the opportunity to network with the product category players. It’s a coming together of the industry and IPA membership. See all the details at this link;
What benefits does IPA provide for its members?
To name a few opportunities (but not limited to) of being an IPA member:
- Have a voice and be at the table through our committees and possibility to be a board member;
- Help establish regulatory frameworks;
- Leverage insights and networking opportunities with key stakeholders;
- Access in-depth information on key developments and market data for the probiotic industry;
- Participate in the leader’s forum;
To learn more please drop by the Probiotic Resource Center in the Expo Hall at booth #5646. Looking forward to seeing you there.