Segmentation By Application (Infant Formula, Food Supplement, Specialty Nutrients, Nutritional Supplements); By End Use (Human and Animal Probiotics); By Strain Type (Lactobacillus, Bifidobacterium and Others); By Sales Channel (Hypermarket, Pharmacies, Direct Sellers, Specialty Stores, Retailers and Online) – Demand Analysis & Opportunity Outlook 2027
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Rising Prevalence of Lifestyle Diseases
The prevalence of diseases such as blood pressure, obesity, diabetes, gastrointestinal disease, breast cancer and dental caries among other disorders is increasing around the globe. According to WHO, around 1.6 million deaths were directly caused by diabetes in 2016. The rising awareness regarding maintaining a healthy lifestyle and the use of supplements to improve immune system is expected to support the growth of the market.
Increasing Investment in Research and Development
In developing countries such as India and China, rising concerns related to health disorders is enhancing the R&D activities across the probiotics industry, which in turn is expected to drive the growth of the market during the forecast period.
Restraints
Limited Knowledge about Safety and Security Measures
The limited knowledge and lack of awareness regarding safety and security measures that are required while consuming the dietary supplements are some of the restraining factors that might hinder the growth of the market over the forecast period.
The market is observing vibrant growth on account of rising awareness about health consciousness and efficacy of probiotics dietary supplements in the health sector. Additionally, the increasing investment in research and development, prevention from the diseases and introduction of improved version of the existing products pertaining to these supplements are some of the significant factors that are expected to boost the growth of the market.
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The probiotics dietary supplement market is anticipated to record a CAGR of 7.7% over the forecast period i.e. 2019-2027. The market is segmented by application into infant formula, food supplement, specialty nutrients and nutritional supplements, out of which, the infant formula segment is expected to have the highest growth on the back of customized product offering to meet the needs of infants and the availability of product in different forms.
Our-in depth analysis of the global probiotics dietary supplements market includes the following segments:
By Application
By End Use
By Strain Type
By Sales Channel
By Region
On the basis of regional analysis, the global probiotics dietary supplements market is segmented into five major regions including North America, Europe, Asia Pacific, Central and South America and Middle East & Africa.
Europe is expected to have the largest market share on the back of rising awareness regarding probiotics, easy availability and the presence of major industry participants in this region. Further, Asia Pacific is expected to emerge as the fastest growing market on the back of rising population coupled with increasing disposable income and improving standard of living in the region.
The global probiotics dietary supplements market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
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