In the post-COVID market landscape, the probiotic supplements market is expected to grow at a CAGR of over 6% during the period 2019-2025
NEW YORK, June 3, 2020 /PRNewswire/ -- In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Probiotic Supplements Market Report
Read the full report: https://www.reportlinker.com/p05903753/?utm_source=PRN
In the post-COVID market landscape, the probiotic supplements market is expected to grow at a CAGR of over 6% during the period 2019–2025.
The global probiotic supplement market is expected to witness consistent growth. The growth in probiotic foods, yogurts, and dairy products has led to the growth of the probiotics industry, which is getting reflected in the dietary supplement segment. The flexibility in storage options, strains with multiple benefits, consumer awareness, and the rise in health benefits of probiotics are expected to fuel the demand for probiotic supplements during the forecast period. APAC is estimated to grow at the fastest CAGR during the forecast period.
While the outbreak of the COVID–19 has led to the downfall of major business operations, with major distribution outlets being completely shut down in Italy, Taiwan, Germany, the US, India, and Canada, the demand for vitamin and dietary supplements declined significantly. However, the market for dietary supplements, especially immunity oriented probiotic supplements, is expected to witness a surge in demand in the third and fourth quarter of 2020. Therefore, the market is expected to sail through during the forecast period, with the market reviving in the later stage.
The following factors are likely to contribute to the growth of the probiotic supplements market during the forecast period:
• Increasing Influence of Internet in Shaping End-users' Purchasing Behavior
• Innovations and Marketing Strategies
• Demand for Vaginal and Pregnancy Health
• Growth in Health Concerns
The study considers the present scenario of the probiotic supplements market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
PROBIOTIC SUPPLEMENTS MARKET SEGMENTATION
This research report includes a detailed segmentation by form, gender, application, distribution, and geography. More than 90% of vendors offer probiotic supplements in the capsule format, thereby driving the revenue share. As advances, which include delay release and combined strain formula, are effective, over 60% of new product launches are taking place in this format. Capsule based probiotics are also the most dominant delivery method in the distribution channel. The dominance of the capsule segment is expected to grow consistently during the forecast period.
The introduction of chewable formats is a major driver for the growth of the tablet segment. Children and kids are the key end-users of tablets as they are convenient to consume and are available in several flavors. North America is expected to contribute over 48% of the total revenue by 2025, followed by Europe.
Vaginal and pregnancy care supplements majorly drive the female segment. More than 70% of women worldwide suffer from yeast infection, which provides immense opportunities for vendors to introduce supplements related to vaginal health. As most vendors have been offering probiotics for women, the key differentiator is going to be the delivery medium.
The male segment is expected to grow steadily during the forecast period as a majority of vendors offer men-focused health supplements. The adoption of gastrointestinal and gut health, immune system, urinary tract infection, oral health, and bone health supplements among men is expected to contribute to the segment revenue.
The gut & digestive health segment constituted over 60% of the shares in 2019 on account of the high prevalence of digestive disorders in the age group of 30–65 years. As gut health directly reflects over 70% of the immunity in the body, consumers are more concerned about the ingredients. With the growth of digestion disorders, chronic diseases such as ulcerative colitis, Crohn's disease is further adding to the reliance on probiotic dietary supplements.
Supermarkets and hypermarkets are expected to dominate during the forecast period. Major retail channels serve as the major source of sales in western countries. The growing regions, such as India, Indonesia, and Brazil, are contributing to the overall revenue generation. Drug stores and pharmacies are the most preferred outlets.
The online distribution channel is estimated to be the second fastest-growing distribution channel for the industry where amazon, ubuy, Alibaba, vitamin shoppe are the major websites for purchase.
Market Segmentation by Form
• Capsule
• Tablets
• Powder
• Liquid
• Others
Market Segmentation by Gender
• Male
• Female
Market Segmentation by Application
• Digestive & Gut Health
• Immunity Response
• Urinary Tract
• Pregnancy
• Vaginal Health
• Bone Health
• Oral Health
• Others
Market Segmentation by Distribution
• Supermarkets & Hypermarkets
• Drug Stores & Pharmacies
• Specialty Stores
• Direct Selling
• Online
• Others
INSIGHTS BY GEOGRAPHY
North America and Europe probiotics supplement market are highly developed. The growth is due to the pre-existing awareness of probiotic products such as cheese, dairy, and yogurt. APAC, Latin America, and the Middle East & Africa, on the other hand, are potential regions with high growth opportunities.
Despite the shaky downfall due to the outbreak of COVID-19, the probiotic supplement market is expected to witness a consistent growth across geographies during the forecast period. The virus will adversely impact the market in the United States, China, the UK, Italy, Spain, France, India, Germany, Singapore in 2020 owing to the complete lockdown and lack of sufficient distribution channels. APAC is the most prominent and reliable market for the probiotic supplements industry.
Segmentation by Geography
• North America
o US
o Canada
• APAC
o Japan
o China
o India
o Australia
o South Korea
• Europe
o UK
o Germany
o France
o Italy
o Russia
• Latin America
o Brazil
o Mexico
• Middle East & Africa
o Saudi Arabia
o South Africa
o UAE
INSIGHTS BY VENDORS
The probiotic supplement market is highly competitive, with a considerable number of vendors in the market. The clinically proven formulas and scientific research is the major differentiating factors that can substantially increase the level of investment required. Innovations, research derivations, competitive landscape, the threat from substitutes, stringent regulations from standard bodies can further intensify the challenges and competition in the coming years.
Key Vendors
• BioGaia
• CHR Hansen
• Bifodan
• Renew Life
Other Prominent Vendors
• Probi
• BioCare Copenhagen
• UAS Labs
• DuPont
• Vitakem
• AB-BIOTICS
• Super Smart
• ADM Protexin
• Bayer
• Essential Formulas
• Daflorn
Key Questions Answered:
1. How much is the probiotic supplements industry worth?
2. What are the latest market trends and drivers of the global market?
3. Who are the probiotic supplement industry leaders?
4. What are the key growth strategies of the vendors?
Read the full report: https://www.reportlinker.com/p05903753/?utm_source=PRN
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