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.
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.
Request a PDF Sample at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=386