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(Health-NewsWire.Net, March 26, 2020 ) Market Overview
The Global Probiotic Supplements Market is expected to grow at a CAGR of 7.3% during the forecasting period (2019-2026).
Probiotics are the live bacteria and yeast that are beneficial for digestive health. Many bacterial stains such as Lactobacillus, Bifidobacterium, and Saccharomyces Boulardii are proven to be beneficial to human health in several ways. The key health related advantages associated with the consumption of Probiotic supplements includes improved digestive health, ability to prevent diarrhea, improved mental health conditions, heart health, and ability to reduce allergies.
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Market Dynamics:
Growing consumer interest towards precautionary intake of dietary supplements for heathy maintenance of metabolic activities is the major factor driving the global probiotic supplements market. Growing shift from prescription based probiotic supplements to over the counter probiotic supplements is expected to further boost the market for probiotic supplements globally during forecast period. Additionally. growing millennial preferences towards healthy diet intake and changing lifestyle are contributing to the growth of global probiotic supplements market. This is directly reflecting over the kids born to the millennials and Gen-X, as these parents are increasing their spending in dietary supplementations for their kids as a preventive health measure. The health benefits such as improved gut health, ability to treat and prevent diarrhea, improved mental health conditions, and reduced severity in allergies are attracting wide range of consumers for preventive and current health maintenance.
However, lack of awareness among the communities regarding probiotics supplements and high cost nature are major factors hindering the growth of global probiotic supplements market.
Market Segmentation
Global probiotic supplements market is segmented on the basis of source into lactobacillus, bifidobacterium, saccharomyces boulardii, and others. Lactobacillus is dominating the global probiotic supplements market owing to its extensive consumption in maintaining healthy gut. Lactobacillus supplements are commercially available in the form of capsules, powder and liquids. The unique health benefits associated with consumption of lactobacillus over its compatriots led this bacterial stain to dominate the global probiotic supplements market. Lactobacillus Acidophilus contain unique ability to reduce cholesterol, prevent diarrhea, improve symptoms of irritable bowel syndrome, treat vaginal infections, weight loss and others.
Geographical Presentation
By region, the global probiotic supplements market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa.
North America is dominating the global probiotic supplements market owing to increasing consumer awareness regarding probiotics and growing visibility of probiotics supplements at point of sale at pharmaceutical centers and natural food stores. Additionally, increasing presence of obese population and growing adoption of healthy diet by these communities to reduce weight are contributing to the growth of North America probiotic supplements market. United States established as a dominant country across the globe in probiotic supplements across the globe owing to increased individual spending over healthy diet and preventive measure for various health related diseases through probiotic supplements.
Asia-pacific is expected to grow at a higher pace during the forecast period owing to increasing consumer lifestyle and growing disposable spending by consumers over healthy diet. Increasing awareness among the communities regarding probiotics and their supplements is expected to further boost market during the forecast period in Asia-Pacific.
Competitive Analysis
The major players in functional foods and probiotic industry are focusing on acquiring probiotic supplements and probiotic companies to improve its product diversification and market presence across the globe. The market is also experiencing new age-specific product launches to meet the growing demand for probiotic supplements in babies.
In April 2019, Bicodex launched new probiotic supplement FlorastorBaby for babies designed to maintain digestive health and immune systems of new born babies.
In August 2018, Archer Daniels Midland Company acquired probiotic International Limited to expand its product portfolio and wellness offering for both human and animal nutrition consumers.
In November 2017, Royal DSM acquired Biocare Copenhagen to expand its gut health portfolio with probiotics.
Some of the key players in the global probiotic supplements market includes I-Health, Inc (Koninklijke DSM N.V.), Puritan's Pride, Inc., Now Health Group Inc, and ADM Protexin Limited.
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