The global probiotics market is a competitive and robust business landscape. The market is increasingly driven by changing consumer preferences and intense rivalries among top players, reports Transparency Market Research (TMR). Prominent players in the global probiotics market are Probi AB, Chr. Hansen Holding A/S, DowDuPont Inc., Nestlé S.A, and BioGaia AB.
Key players in the global probiotics market are focused on improving distribution channels as online sales grow and offer potential to reach new consumers in the market. Additionally, these players are investing in promotions in emerging countries as the awareness about probiotics in these markets is still in its nascent stages. The key players in the global probiotics market are also investing in research and promotions to further the cause of probiotics as a health supplement to appeal to consumers.
According to a report on the global probiotics market by TMR, the market was valued at US$6,762.2 mn in 2018. TMR predicts that the global probiotics market will expand at 8.3% CAGR during 2018-2026. The market is anticipated to reach US$12,753.4 mn in valuation by 2026 end.
Bottled packaging is expected to remain popular with consumers in the global probiotics market. It is expected to garner 8.7% CAGR growth during 2018-2026 period. The global probiotics market in North America region is also expected to register significant growth. Its appealing and convenient qualities make it a popular offering.
Growing Awareness about Consumption of Probiotics to Fuel Growth of Market
Antibiotics are increasingly used in various medical ailments around the world. Additionally, disposable income is on the rise in emerging countries. Growing awareness regarding side-effects of antibiotics is expected to boost the global probiotics market. Probiotics such as lactobacillus acidophilus are believed to lower cholesterol, and also help with diarrhea and bacterial vaginosis.
On the other hand, increased use of antibiotics can result in imbalance in microbiota and reduces the healthy bacterial activity as well. This is especially significant for small children who have low resistance to ailments like diarrhea. The global probiotic market is expected to chip in to meet the demand for healthy bacteria activity with heavy investments in promotional activity during the forecast period.
Additionally, antibiotics are in high demand in BRICS (Brazil, Russia, India, China and South Africa) countries. As the awareness about antibiotics is still limited in these markets, some antibiotics are easily available over the counter. To counter the influx of antibiotics, probiotics manufacturers have adopted a task-driven approach to chase consumers. Growing advancements in tracking consumer activity online and large penetration of smartphones in the BRICS markets are expected to drive growth of the global probiotics market.
Europe Market Presents a Challenge to Overall Growth
The global probiotics market also faces considerable challenges during the forecast period. The EU has banned the word ‘probiotic’ from promotions. This is a major setback to the global probiotic market during the forecast period. However, the market is expected move towards emerging economies with high capital investments. The rise of e-commerce offers more promotional and distribution opportunities for players in the global probiotics market.
This information is based on the new report by TMR, titled “Probiotics Market (Packaging Type - Blisters, Bottles, Containers, Sachets, Stick Packs, Droppers, others; Form – Dry and Liquid; Distribution Channel - Hypermarkets/Supermarkets, Pharmacies/Drugstores, Specialty Stores, and Online Sales) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026”
The global probiotics market has been segmented as presented:
- Stick Packs
- Specialty Stores
- Online Sales
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC