The global probiotic supplements market is projected to register a staggering expansion at 15.4% CAGR through 2027, according to a report by Future Market Insights (FMI). FMI’s report estimates the revenue amassed from global sales of probiotics to account for US$ 3,716.4 Mn in 2017. These revenues are further estimated to reach US$ 17,442.7 Mn by 2027-end.
Increasing Consumption of Antibiotics to Drive Growth of the Global Probiotics Supplements Market
Increasing consumption of antibiotics across the globe has resulted into imbalance of microbiota among individuals, and lowered the bacterial diversity as well as overall bacterial count in the gut. This has been propelling demand for probiotic supplements in order to cater additional supplementation of friendly bacteria in the body of individuals who consume excess antibiotics. Probiotic supplements are also helping patients with vaginal and urinary tract infections. These factors are expected to fuel growth of the global probiotic supplements market. In addition, factors such as usage of probiotics in infants or kids associated with C-section delivery, increasing incidences of stomach indigestion in kids, and health benefits of probiotic supplements are expected to drive demand for probiotic supplements.
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Limited Availability of Probiotic Supplements in Developing Countries to Impede Growth of the Market
However, there is a limited availability of probiotic supplements in developing countries. Medical practitioners in these countries therefore have limited knowledge and awareness about probiotic supplements. Although manufacturers of probiotic supplements are taking huge steps in increasing awareness about associated benefits, consumers have not been reciprocating at similar threshold. Factors such as these are expected to impede growth of the global probiotic supplements market.
In a bid to foster a better understanding of the global probiotic supplements market, the report offers market forecast & analysis on
- Women– Lactobacillus bacteria is expected to remain dominant based on bacteria type, with over 50% share of the market. By formulation, sales of powder premixes will register highest CAGR in the market, while sales of capsules will reach US$ 946 Mn in 2017. Based on function, urogenital health will account for largest revenues by 2027-end, expanding at 19.9% CAGR through 2027. Pharmacy stores will remain preferred distribution channel, with sales estimated to reach US$ 851 Mn in 2017. North America will remain the largest market for probiotic supplements during the forecast period.
- Kids– By bacteria, revenue amassed from bifidobacterium is anticipated to reach US$ 256 Mn in 2017. Based on formulation, sales of tablets are projected to register the highest 16.3% CAGR, to reach nearly US$ 1,400 Mn in revenues by 2027-end. Hypermarket/supermarket will be the fastest growing distribution channel in the market, with sales expected to surpass US$ 1,000 Mn by 2027-end. Western Europe is expected to register a relatively high CAGR in the market through 2027.
- Senior– Streptococcus is expected to register a relatively low CAGR in the market based on bacteria type. By formulation, sales of capsules are estimated to reach nearly US$ 1,700 Mn by 2027-end. Specialty stores are expected to be the fastest growing distribution channel in the market. North America will continue to be the most-lucrative region for probiotic supplements in the global market.
Among the above mentioned segments, global revenues generated from sales of probiotics for women are expected to remain highest, expanding at 18.1% CAGR through 2027. Probiotic supplements for women are anticipated to account for over 50% share of the global probiotic supplements market during the forecast period.
Key market players identified in FMI’s report include Church & Dwight Co. Inc., DR. WILLMAR SCHWABE GROUP, The Clorox Company, i-Health, Inc., Jarrow Formulas, NOVA Probiotics, Natural Factors Inc., PharmaCare Laboratories, Total Nutrition, Inc., BioGaia AB, Lifeway Foods, Inc.