Market Research Report
Global Probiotic Dietary Supplement Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Global Probiotic Dietary Supplement Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 95 Pages
Delivery time: 2-3 business days
The global probiotics dietary supplement market is poised to grow at a CAGR of 10.58%, during the forecast period (2020 - 2025).
Impact of COVID-19 on the Market:
Globally, there has been a significant rise in the percentage of consumers preferring probiotic products, especially supplements, to maintain their well-being, in order to keep their healthcare costs down. The demand for probiotics is escalating owing to the increased awareness of consumers and healthcare providers about the numerous health benefits of probiotics that stretch beyond digestive health and the various delivery forms that are more convenient for consumers. Manufacturers are experimenting with the formulation and production of probiotics incorporating multiple strains, especially in supplements, to offer consumers high-quality products with the added benefit of immunity.
Formulations are evolving to include Kosher and Halal probiotics, time-release options, combinations with different ingredients for added health benefits, and sugar-, dairy-, and allergen-free options. In addition to strain-specific benefits, multi-strain formulations and their advantages are highly dependent on the final blend and the clinical research associated with that multi-strain formulation. For instance, Bio-Kult is a unique multi-strain live bacteria supplement with 14 strains of live bacteria, which can help a more diverse range of digestive disorders. Its powerful formulation targets the digestive tract, and it can be stored at room temperature without the need for refrigeration.
Europe dominated the global market for probiotic dietary supplements, with around one-third of the market share. Strong consumer awareness regarding probiotics usage, easy availability, and the presence of major industry manufacturers and their focus toward product innovation is expected to play a key role in the rapid growth of the market. Asia-Pacific is emerging as the fastest-growing probiotic supplement market due to its high population growth, rapid urbanization, and the awareness about the nutritional benefits of dietary supplements are contributing to the growth of this market.
Some of the major players in the probiotic dietary supplements are BioGaia, Reckitt Benckiser LLC, Procter & Gamble, Koninklijke DSM NV, Church & Dwight Co., Inc., among others. BioGaia and Reckitt Benckiser LLC (Schiff Vitamins) are leading the probiotic supplements segment. Schiff Vitamins was acquired by Reckitt Benckiser LLC to expand its portfolio and capture the consumer base, which is inclined toward buying supplements supporting digestive and immunity health. Key players in probiotic supplements are focusing on the European region.