Probiotics dietary supplement market is projected to witness a CAGR of 8.09% during the forecast period to reach a total market size of US$10.225 billion by 2022, increasing from US$6.928 billion in 2017
Shifting people focus towards health and fitness is augmenting the need for nutritional diet while propelling demand for probiotics dietary supplements.
In addition, growing number of digestive ailments among different age groups coupled with growing prevalence of chronic diseases is further contributing to the market growth. Other drivers include expanding urbanization, increasing disposable income along with changing lifestyle in developing countries. By application, the nutritional supplement is expected to grow at the high CAGR over the projected period. Growing demand for nutritional diet owing to mounting concern over health and fitness propel the segment growth.
Asia Pacific is expected to grow at the highest rate over the projected period. Large customer base coupled with rapidly urbanizing society drive the regional growth. The growing disposable income as well as increasing disease prevalence further contributes to the APAC market growth. Other drivers include growing demand for infant formula owing to rising awareness among parents about its benefits and increasing local players.
The Probiotics Dietary Supplement market is highly competition owing to the presence of numerous small and large vendors.
Some of the key players discussed in the report include DowDuPont, Chr. Hansen Holding A/S, Royal DSM N.V., Cargill. Lifeway Foods, and Kibow Biotech among others. New product launch owing to continuous R&D and industry integrations are the major strategies being adopted by players to differentiate themselves from the competition.