Probiotics Dietary Supplement Market Forecast and CAGR
According to the latest research by Transparency Market Research, the probiotic dietary supplements market is set to witness steady growth during 2021-2031. Demand for probiotic dietary products will witness steady recovery in the short term, with significant growth. Increasing demand for healthy and nutrition-based products drives the market with significant CAGR.
What is Driving Demand for Probiotics Dietary Supplement?
Consumers are not satisfied with a substantial amount of fermented foods and beverages due to some reasons like a busy life schedule, food allergies. Over the years increasing health awareness among consumers & in search of healthy food products for consumption most drives the probiotics dietary supplement market.
Probiotics have many strong benefits related to health, especially regarding the human digestive system. Healthy probiotic dietary supplements such as fruit juices, yogurt, and cultured dairy drinks have become the main attractions of the millennials. Dairy products are the important driver of this market as readily available and easy-to-consume functional dairy products that contain the most commonly used bacteria like bifidobacterial and lactobacilli which are natural probiotics.
Due to sudden impact of COVID-19, to surge in demand for products which provides immune health, vitamin and minerals have impacted probiotics dietary supplements market positively. Owing to meet the increasing demand for healthy food products many significant product launches have been made.
Innovation to Augment Probiotics Dietary Supplement Sales
Yogurt is the most popular and healthy option for consumption of probiotics in the category of dairy products owing to get the attraction of the consumers key players started adding new flavors and aroma with probiotic supplements.
The probiotics manufacturers and processors of probiotics dietary products are continuously seeking the invention of products to create and retain a wider consumer base. Investments in R&D and increment in capacity are some of the typical trends observed with operating in this market. In the developed countries probiotic products ranging from fortified drinks to candies that contain natural probiotic bacteria like Lactobacillus and Bifidobacterium genera are available that has augmented the sales of these products.
Evolve BioSystems Inc. is the company works in the sector of probiotic supplements which has been funded by Bill & Melinda gates foundation and li ka shing foundation to expand the area of infant formulas, infant probiotic product, for long-term immune and nutritional health in the U.S. and worldwide.
US and Canada Probiotics Dietary Supplement Market Outlook
Strong consumer awareness regarding easy availability, probiotics usage, and the presence of major industry producers of probiotic dietary supplements has increased the demand for products in the North American region. The focus of manufacturers toward product innovation and supply is expected to play a major key role in the rapid growth of the market.
The probiotic dietary supplements market is majorly positively affected by increasing interest in online self-education, strong emphasis on preventive healthcare driving the regional demand. Convenience dietary products like chewable gummies, capsules are responsible for the significant growth of probiotic dietary supplements.
Europe Demand Outlook for Probiotics Dietary Supplement
It is expected that Europe is being a dominating market of probiotics dietary supplement products. Over the past few years the consumption of probiotics dietary supplements has been grown significantly owing to the competition of various international and domestic key players. Increasing health consciousness among consumers has led Europe to be an exporter of probiotics dietary supplements.
Europe Market of Probiotics Dietary Supplements has been driven by UK, Spain, France, Italy, and Germany owning to health consciousness. Easy availability, rising consumer awareness regarding the use of probiotics dietary food products, and inclination towards spending money on probiotic dietary supplements have triggered the product growth. As easy availability of probiotic dietary supplements at modern trade channels and pharmacy stores has also driven the market.
Who are the Key Manufacturers and Suppliers of Probiotics Dietary Supplement?
Key players which are included in the production of the Probiotics Dietary Supplement products are Rajvi Enterprise, Bifodan, Custom Probiotics Inc., Probi USA Inc., Nutraceutix, BioCare Copenhagen, BioGaia, NutraScience Labs, Mercola Probiotics, Procter & Gamble, Church & Dwight Co., Inc., Chr. Hansen Holding A/S, Daflorn, Nebraska Cultures, UAS Labs, ProbioFerm, UP4 Probiotics, Koninklijke DSM NV, Contract NUTRA, Clancare Lifesciences Private Limited, Pavan Nutra, Alvizia Healthcare Private Limited, , Reckitt Benckiser LLC, Biovencer Healthcare Private Limited, Nebraska Cultures, Vitakem Nutraceuticals Inc. and others.
Key players focus on inventory management to fulfill the demands of the consumers. Increasing instances of direct purchase in bulk from the manufacturers by the end-users have witnessed a heightened trend in the global probiotics dietary market. Mergers & acquisitions, geographical expansions, include new product launches, and R&D investments help key players to explore the market potential. Key players make agreements with dealers and distributors to ensure the fluent flow of the products over the regions.
By End-use Industry
- Food & beverages industry
- Infant Formula
- Functional food
- Dietary supplements
- Animal Feed
- Non-dairy beverages
- Dairy products
- Animal feed
By Distribution Channel
- Business to Business
- Business to Consumer
- Specialty stores
- Pharmacy/Health Store
- Online retail
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.