NEWARK, Del, July 04, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global probiotic supplement market is expected to reach US$ 7,524.6 million in 2024. It is projected to exhibit steady growth during the forecast period, with global demand for probiotic supplements rising at 11.2% CAGR. Accordingly, the total market valuation is projected to reach US$ 23,874.5 million by 2034.
Consumers are becoming health-conscious and aware of the benefits of probiotic supplements in their day to day lives. The probiotic supplement market is expected to rise due to increasing online self-education and regional demand for preventive healthcare.
Supermarkets and hypermarkets are popular for purchasing protein-based supplement products due to their accessibility and availability of a variety of brands. Consumers are more selective in their approach to probiotics supplements, leading to market growth due to the wide range of products available in these retail channels.
Leading companies are focusing on marketing specific functional products and investing in research & development to produce probiotic supplements for particular groups. Technological advancements are gaining popularity in the probiotic supplement market, with key players focusing on developing new solutions to improve the quality and life cycle of probiotic products.
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Manufacturers Focusing on Product Differentiation to Strengthen Respective Positions in Market Headed for Saturation
The per capita intake of probiotics has been steadily rising over the past few years. This is a result of consumers preferring to spend more on products that are potentially beneficial for their health. The popularity of probiotic supplements has particularly skyrocketed across the BRICS countries owing to easy availability of products. Manufacturers are firmly focused on differentiating their products as the entry of emerging players is leading to market saturation. Without innovative branding initiatives and strategies, emerging companies are likely to fall behind established names.
For instance, to appeal to children, several manufacturers are offering probiotic supplements in fruit flavors and animal shapes. Manufacturers are also focusing on sophisticating product packaging. As probiotic supplements are not regulated by medical bodies, manufacturers have the liberty to experiment with bold claims and colorful designs for making their products visually attractive.
Key Takeaways from the Global Probiotic Supplement Market Study:
- The global market valuation is projected to reach US$ 23,874.5 million by 2034.
- By 2034, the United States market is expected to surge at 8.1% CAGR.
- Probiotic supplement demand in China is anticipated to rise at a steady CAGR of 9.0% during the forecast period.
- The probiotic supplement market is projected to increase in India at a CAGR of 12.6% through 2034.
- Based on form, the capsule segment is anticipated to rise at a CAGR of 9.2% through 2034.
“Probiotic supplements are advertised to boost mood by promoting gut-friendly bacteria linked to improved mental health. They also help reduce anxiety and depression symptoms by regulating neurotransmitter production, driving market growth,” says Nandini Roy Choudhury, Client Partner at Future Market Insights
Why is India Likely to Emerge as a Prominent Market for Probiotic Supplements?
India’s Position as a Leading Milk Producer to Make it a Lucrative Market for Probiotic Supplements Manufacturers
According to FMI, India market for probiotic supplements is predicted to accelerate at a 12.6% CAGR from 2024 to 2034. The market for probiotic supplements in India is accelerating steadily, and the circumstances are favorable for rapid expansion in the coming years. Along with its thriving economy, India has a significant advantage in the probiotic industry as it is the world's top milk producer.
Expanding disposable income of the country's middle class and escalating awareness of probiotics’ health benefits are powering the market. Manufacturers are expected to leverage innovative promotional and marketing strategies to propel probiotic supplements sales in India between 2024 and 2034. In the Asian region, India’s customer base is substantial and the country’s market holds a 3.3% in the global industry.
How is the United States Anticipated to Dominate the Market for Probiotic Supplements?
Inclination towards Reducing Healthcare Expenses to Drive Market for Probiotic Supplements in the United States
The market for probiotic supplements in the United States is estimated to account for a dominant share of 40.1 % in the global industry. From 2024 to 2034, it is anticipated to expand at a robust CAGR of 9.1%. Lifestyles of consumers in the United States have been altering across recent years as they turn to organic solutions for maintaining and managing their health. This trend is set to take the United States market forward in the coming years.
The country is also home to multiple prominent names in the nutrition industry that are intent on expanding their global footprint. For instance, in February 2023, ADM announced the commencement of operations at a brand new facility that it opened in the Spanish city of Valencia. The facility is aimed at increasing the company’s production of probiotics and postbiotics.
What is the Outlook for the Probiotic Supplements Market in the United Kingdom?
Probiotic Supplements Sales in the United Kingdom to Spur Owing to Their Benefits for Certain Skin Predicaments
According to FMI, the United Kingdom market for probiotic supplements market registered a steady CAGR of 8.5%. FMI analysis points to a 7.2% share for the United Kingdom market in the global industry. Probiotic products are becoming more popular in the United Kingdom as a result of the significance of gut health and its relationship to mental health, weight loss, and healthy skin.
Since probiotics boost the likelihood of healthy bacteria colonizing the gut, consumers are choosing digestive supplements with potent bacterial strains and high CFU. Those with hormonal imbalances or acne also choose probiotics & prebiotics that concentrate on the immune system specifically to calm skin irritability. Probiotics are becoming more common in the nation as more people realize that treating the underlying causes of sickness is more effective than using band aid solutions.
Competitive Landscape
Key leaders of the probiotic supplement market are Culturelle (i-Health, Inc.), Align, Billion Cheers (Fermentis Life Sciences Pvt Ltd), Digestive Advantage, Garden of Life (Nestle SA), Spring Valley, Now Foods, Nature Made, and HUM Nutrition Inc.
Leading players are taking key steps like meeting demands of quality and convenience while maintaining a competitive price. Increased spending on research & development and intriguing market techniques are a handful of the growth strategies renowned players are directed toward to expand their customer base.
Key Companies Profiled
- Culturelle (i-Health, Inc.)
- Align
- Billion Cheers (Fermentis Life Sciences Pvt Ltd)
- Digestive Advantage
- Garden of Life (Nestle SA)
- Spring Valley
- Now Foods
- Nature Made
- HUM Nutrition Inc.
- OLLY
- Ora Organics
- Natrol
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For instance,
- In 2023, Jarrow Formulas introduced Fem-Dophilus Advanced. This product is designed to provide complete support for vaginal, urinary tract, digestive and immune system health benefits.
- In 2023, True Grace launched its newest product line, “True Littles,” which targets the babies probiotic market. The product is formulated for kids and babies and has considerations based on their taste preferences and digestive health needs.
- In 2022, Kemin Industries introduced a probiotic solution called ENTEROSURE, a ground-breaking effort designed to help reduce the risk of diseases that spread in the intestines of poultry and livestock.
Get Valuable Insights into Global Probiotic Supplement Market
Future Market Insights (FMI), in its new offering, provides a thorough, detailed and unbiased analysis of the global probiotic supplement market, presenting historical demand data for the years 2019 to 2023 and forecast statistics for the years 2024 to 2034.
The study categorises the valuable insights on global probiotic supplement market based on bacteria type (lactobacillus, streptococcus, bifidobacterium, bacillus coagulants, saccharomyces, lactococcus lactis), CFU count (less than 1 billion, 1 billion to 5 billion, 5 billion to 10 billion, 10 billion to 20 billion, 20 billion to 30 billion, 30 billion to 50 billion, and more than 50 billion), sales channel (hypermarkets / supermarkets, specialty stores, e-commerce, drug stores & pharmacies, health & wellness stores, convenience stores, departmental stores, others), form (tablets / pills, capsules, liquid, powder, gummies / chewable, lozenges, others [gels, soft gel]), customer orientation w.r.t. functionality (babies/infants, women, men and unisex), and region
Global Probiotic Supplement Market Segmentation by Category
By Customer Orientation w.r.t. Functionality:
- Baby / Infant
- Digestive Health
- Metabolic Health
- Immune Support
- Others
- Women
- Digestive Health
- Gut Brain Axis
- Metabolic health
- Others
- Men
- Digestive Health
- Gut Brain Axis
- Metabolic Health
- Others
- Unisex
- Digestive Health
- Gut Brain Axis
- Metabolic Health
- Others
By Bacteria Type:
- Lactobacillus
- Streptococcus
- Bifidobacterium
- Bacillus coagulants
- Saccharomyces
- Lactococcus lactis
By Sales Channel:
- Hypermarkets / Supermarkets
- Specialty Stores
- E-commerce
- Drug Stores & Pharmacies
- Health & Wellness Stores
- Convenience Stores
- Departmental Stores
- Others
By CFU Count:
- Less than 1 Billion
- 1 Billion to 5 Billion
- 5 Billion to 10 Billion
- 10 Billion to 20 Billion
- 20 Billion to 30 Billion
- 30 Billion to 50 Billion
- More than 50 Billion
By Form:
- Tablets / Pills
- Capsules
- Liquid
- Powder
- Gummies / Chewable
- Lozenges
- Others (Gels, Soft Gels)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/probiotic-supplements-for-kids-market
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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