Transparency
Market Research (TMR), in its recent outlook titled, “Probiotics
Market: Global Industry Analysis and Opportunity Assessment
2018-2026”, projects that in terms of value, global Probiotics
market revenue will expand at a CAGR of 8.3% during the forecast
period. In terms of revenue, the global Probiotics market accounted
for around US$ 6,762.2 Mn in 2018 and is anticipated to increase too
roughly about US$ 12,753.4 Mn by 2026.
As
indicated by research, excessive usage of antibiotics by an
individual results in imbalance of microbiota, and also lowers the
bacterial diversity as well as overall bacterial count in the gut.
Harmful effects of excess antibiotic consumption has been reported,
necessitating the additional supplementation of friendly bacteria
into the body. Some of these bacteria have also developed antibiotic
resistant characteristics, and do not respond to the consumed
antibiotics. Therefore, it is also important to replenish such
bacteria in the body, thus nucleating targeted bacterial strain
consumption. A larger chunk of such population relying on antibiotics
has absorbed the importance of probiotic supplements, and have
started consuming them.
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Key
Taxonomy Insights
- By form, the dry segment is likely to be the most attractive segment in the forecast period owing to the availability of larger product variants coupled increasing product offerings in powder/granule format.
- On the basis of packaging type, the containers segment is estimated to account for a significant revenue share of 24.7% in 2018 and is expected to register significant growth rate during the forecast period. However, the bottle segment is expected to register a higher CAGR value of 8.7%.
- Furthermore, on the basis of distribution channel, relatively higher internet penetration across the globe has led to the emergence of e-Commerce as an easily accessible and convenient sales channel for a range of products.
- In terms of value, North America and Europe are likely to account for approximately a share of 79.9% by the end of 2026. Also, North America is expected to dominate the market through 2026 in terms of demand, followed by Europe and Asia Pacific.
Key
Vendor Insights
Probiotic
supplements are available across all geographies, claiming initial
higher penetration in developed markets. Though the adoption among
existing users of probiotic supplements is strengthening, the
acquisition of newer customers is relatively low. Leading probiotic
supplement manufacturers have been maintaining a targeted approach in
BRICS countries, through hefty investments in marketing. Such factors
collectively are expected to support the overall demand for probiotic
supplements across the globe. Many manufacturers and retailers have
also set up online distribution options on their websites and other
popular e-Commerce chains. Through this, consumers are increasingly
inclined towards purchasing such products online due to the various
discounts offered by e-retailers. Stakeholders are also putting their
best foot forward to increase the mass awareness of the associated
benefits of using probiotic supplements, consumers haven’t been
observed to be reciprocating on a similar threshold.
The
report includes detailed profiles of probiotics manufacturers, along
with detailed evaluation of their long-term and short-term
strategies, key offerings, and recent developments in the Probiotics
market space. Some of the companies include Chr. Hansen
Holding A/S, BioGaia AB, Probi AB, Nestlé S.A., DowDuPont Inc., The
Procter & Gamble Company, Probiotics International Limited,
Lallemand Inc. Pfizer Inc., PharmaCare Laboratories, Dr. Willmar
Schwabe Group, and SymbioPharm GmbH.
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