Market Synopsis:
There has been a growing inclination towards standardizing food habits and healthy way of living which has opened up new frontiers of opportunities in global dietary supplement market. The presence of national and international players, diversified product offerings, etc. are fuelling the healthy competition in the market and leading to the growth of the market globally. A huge mass of the population belonging to all age groups, from Gen Z to the aging population, is changing the market trend by showing interest in healthy food supplements. The exemplary health benefits of probiotic dietary supplements such as colonizing gut with useful microflora, replacing harmful bacteria with healthy bacteria, sustaining microbial balance, growth of useful bacteria, healthy digestive tract, etc. are the key drivers of the market growth. Probiotic supplements also cures and prevents certain health problems like, eczema (skin condition), irritable bowel syndrome, infectious diarrhea, inflammatory bowel disease, allergies, etc. which has pushed consumers to adopt probiotic dietary supplements products.
The awareness related to probiotic dietary supplements has enhanced over the time with international organizations like Food and Agriculture Organization (FAO) and World Health Organization (WHO) participating in creating the awareness along with papers being published by researchers in various symposiums to highlight the benefits of the products.
The key advantage of probiotic supplements is that it has minimum side effects and for most of the products, physician’s consultancy isn’t required. Also, probiotic products are inclusive of all age groups; for instance, in December 2017, BIOHM Health, a microbiome and probiotic company has launched probiotic dietary products for children.
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Competitive Dashboard:
The global market for probiotic dietary supplements is flocked with the presence of plethora players trying to gain an edge over others and intensifying the market competition. Established organizations are investing huge amounts for research & development to come up with probiotic supplements amalgamated with unique food products. The organizations are also conducting researches and developing products to satiate specific functional demands of the consumers. Other ways and means opted by the players to strengthen their bases in the market are increased awareness, standardization of products, regulatory certification, patents, etc.
Some of the major players of the global probiotic dietary supplement market profiled in MRFR’s report are Deerland Enzymes, Inc. (U.S.), BioGaia AB (Sweden), Winclove Probiotics BV (the Netherlands), AB Biotics, SA (Spain), Protexin (U.K), Bifodan A/S (Denmark), Probi AB (Sweden), Biocare Copenhagen ApS (Denmark), Probiotical SpA (Italy), and, Super Smart Holdings Limited (Hong Kong).
Market Segmentation:
On the basis of the bacteria, it is segmented Lactobacillus, Streptococcus, Bifidobacteriaum, and others. Lactobacillus segment has witnessed a rise in demand of lactobacillus strain leading it to dominate the market.
On the basis of the form, it has been segmented into tablet, capsule, powder, liquid, and others. The tablet segment has holds highest potential owing to factors such as, dose accuracy, handy in nature, etc.
On the basis of the distribution channel, it is segmented into store based and non-store based. The store-based distribution channel is dominating the market as it facilitates an enriched one-stop shopping experience.
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Regional Analysis:
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe holds the largest share of the market because of increased awareness about the health benefits of probiotic supplements. Asia Pacific will be in second place in terms of market growth. Its growth can be attributed to factors like multiplying disposable income, rise in demand for nutraceutical and pharmaceutical products, increasing inclination towards healthy living, growing needs of the aging population to leady healthy lives, large customer base, etc.
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