Download full report with analyst certification and important disclosures
Feb 6 2018, 06:45 GMT
Ratings and price correct at time of issue
|Company||Rating||Date||Previous Rating||Date||Closing Price|
Starbucks’s new range of Evolution Fresh Daily Probiotic smoothies will reach shelves in February 2018, signalling the arrival of probiotics to fast moving consumer goods (FMCG) categories beyond dairy. Largely driven by acquisition, capabilities in probiotics have evolved from specialist players (Chr Hansen, Probi, Danisco and Ganeden) to value-add ingredient solution providers (Kerry, Symrise and DSM). A broadening of the application canvass beyond dairy presents a sizable and immediate opportunity with demand pull and positive pricing attributes. While technical and regulatory hurdles remain (shelf-life, stability), we are optimistic on the burgeoning revenue opportunity for more integrated players.