The new report by Expert Market Research titled, ‘Global, Share, Size, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of global probiotic supplements market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Probiotic Supplements Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
- Forecast CAGR (2023-2028): 9.8%
The growing awareness of probiotics’ health advantages is boosting the growth of the probiotic supplement market. Digestion-related problems are on the rise as a result of poor eating habits, obesity, and stress brought on by fast-paced lifestyles.
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This is driving a growing demand for probiotic pills, or beneficial bacteria, to help restore the gut’s bacterial equilibrium. Mental health illnesses associated with gut health can be efficiently treated with probiotic supplements, which also provide general health, stress, and anxiety benefits. In the forecast period, rising awareness of the benefits of probiotic supplements and rising health consciousness are expected to favorably impact market growth. Furthermore, the increasing popularity of online retail purchasing in both developing and developed countries is expanding the range of products available to meet specific consumer needs. As a result, demand for probiotic supplements is increasing, propelling the market forward. The market is also being fueled by the development of age-specific protein supplements.
Probiotic Supplements Industry Definition and Major Segments
Probiotic supplements are a way to supplement your body with beneficial bacteria. Probiotics are made up of bacteria as well as yeast. Lactobacillus and bifidobacterium are two common probiotic bacteria. Saccharomyces boulardii is the most common yeast found in probiotics.
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By Major Sources, the market is divided into:
By Forms, the market is divided into:
By Distribution Channels, the market is divided into:
- Hypermarkets and Supermarkets
By Application, the market is divided into:
- Gastrointestinal Health
- Immune Health
- Oral Health
- Urinary Tract Health
- Vaginal Health
By region, the industry is categorized into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Probiotic Supplements Market Trend
Probiotic products, particularly supplements, have become increasingly popular among the consumers as a way to retain their health while lowering healthcare expenditures. The rising awareness of consumers and healthcare providers about the myriad health benefits of probiotics that extend beyond digestive health, as well as the various administration modalities that are more convenient for consumers, is driving up demand for probiotics. Manufacturers are experimenting with the formulation and manufacture of multi-strain probiotics, particularly in supplements, in order to provide consumers with high-quality goods that also provide immunity.
Probiotic supplements for newborns are most typically available in powder or liquid form, with no distinct flavor. As a result, these items can be blended easily with infant formulae, pumped breast milk, and other liquids fed to infants. Over the next few years, the segment’s expansion is likely to be aided by customized product offerings that are specifically tailored to meet the metabolic and intestinal demands of newborns. Because the products in these forms are pleasant and easy to swallow, the chewables & gummies segment is expected to increase at the highest rate over the forecast period. Furthermore, enticing colors, shapes, such as teddy bears, and gummy flavor combinations are expected to drive demand for the market during the forecast period.
During the historical period, Europe dominated the market for probiotic supplements. Due to the presence of various domestic and international market players, as well as rising health concerns among individuals in the region, the use of probiotic dietary supplements has grown rapidly in recent years, resulting in Europe becoming a leading contributor, which is expected to propel the market forward during the forecast period. Furthermore, the European probiotic dietary supplement market, which is dominated by Spain, the United Kingdom, Italy, France, and Germany, is expected to rise significantly in the near future.
Consumer awareness of the benefits of probiotics, as well as their willingness to spend money on dietary supplements, is expected to boost product sales. Furthermore, probiotic supplements are widely available in pharmacies and modern trade channels in Europe. The European market, which accounts for around half of worldwide revenues, is expected to be primarily driven by a strong emphasis on preventative healthcare. Over the projection period, Asia Pacific is expected to expand considerably, owing to strong demand from countries like India and China. Moreover, the market has changed dramatically over time, with China and Japan accounting for more than half of regional sales.
The market for probiotics in India and several Central and Southeast Asian nations is expected to continue to grow as consumers become more aware of specialty nutritional products. The developing middle class in South America and Africa, combined with rising expenditure, is expected to boost growth in the coming years.
Key Market Players
The major players in the market are BioGaia, Chr. Hansen Holding A/S, Custom Probiotics Inc., Dietary Pro Labs, Koninklijke DSM N.V., NutraScience Labs (Twinlab Consolidated Holdings Inc.), Probi USA Inc. (Symrise AG), ProbioFerm, Protexin (Archer-Daniels-Midland Company), Reckitt Benckiser Group plc and Vitakem Nutraceuticals Inc., among Others.
The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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