Global Probiotic Supplements Market to Expand at 10.43% CAGR till 2027
According to a new Netscribes report published by Research on Global Markets, the global probiotic supplements market is expected to experience a significant compound annual growth rate (CAGR) of 10.43%, and reach a market size of USD 3.28 Bn by 2027.
According to the report, rising awareness about health and fitness is accentuating the need for nutritional diets and maintenance of healthy microbiota, thereby augmenting the demand for probiotic supplements. The probiotic supplements market includes bacteria and yeast-based probiotic formulations, which are used for maintaining gastrointestinal health, immunity, vaginal health, urinary tract health, and oral health, among others. The report further reveals that the increasing number of digestive disorders among different age groups, and the growing prevalence of chronic diseases are the most important factors contributing towards market growth.
The report suggests that probiotics are consumed mostly in dry form as capsules, powder, chewable, and tablets. The dry probiotic supplements segment held a market share of 83% in 2017. Also, with respect to distribution channels, the online medium contributed to 51% of the global probiotic supplements market in 2017. The key online distribution channels for probiotic supplements include Amazon, Costco, and The Vitamin Shoppe, according to the Netscribes report. Region-wise, the Asia-Pacific probiotic supplements market is expected to expand at the highest CAGR between 2018 and 2027.
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Key highlights of this report:
- Trends in the global probiotic supplements market
- Comprehensive global market overview, including market attractiveness analysis, and geography-wise market revenue (USD Mn)
- Qualitative analysis of the drivers and challenges affecting the market and its segments
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Detailed analysis of the strategic imperatives for success and growth
- Market segmentation based on source (yeast and bacteria)
- Market segmentation based on form (liquid, and dry [capsules, chewable, tablets, powder, and others])
- Market segmentation based on distribution channel (pharmacy, hypermarkets/supermarkets, online sales, specialty stores, and others)
- Market segmentation based on application (gastrointestinal health, immunity, vaginal health, urinary tract health, oral health, and others)
- Market segmentation based on region (North America, Europe, Asia-Pacific, Latin America, and The Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for probiotic supplements across the world, to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.