Rising Adoption of Gummies and Chewable Probiotic Supplements
DUBLIN: The "Global Probiotic Supplements Market (2018-2027)" report has been added to ResearchAndMarkets.com's offering.
The global probiotic supplements market is projected to expand at a compound annual growth rate (CAGR) of 10.43% and will reach USD 3.28 Bn by 2027.
Awareness about health and fitness is augmenting the need for nutritional diets and maintenance of healthy microbiota, thereby propelling the demand for probiotic supplements.
Form Segment Insights:
Probiotics are consumed mostly in dry form as capsules, powder, chewable, and tablets. The rising adoption of gummies and chewable probiotic supplements is expected to increase the growth of the dry probiotics market across the world. The dry probiotic supplements segment held a market share of 83% in 2017. The development of dry probiotic supplements for chronic diseases will fuel the growth of the segment, at an expected CAGR of 10.15% during the 2018-2027 period.
Source Segment Insights:
Based on the source, the market was dominated by the bacteria-based probiotic supplements segment, with a 91% share in 2017. Most probiotic supplements include bacterial strains, of which, Lactobacillus sp and Bifidobacterium sp are used widely for the maintenance of healthy microbiota.
Distribution Channel Segment Insights:
The pharmacy store-based probiotic supplements segment was the leading contributor to the global probiotic supplements market, having generated 46% of the market value in 2017. However, the online store-based probiotic supplements segment is expected to witness the highest expansion, at a CAGR of 13.49% during the 2018-2027 period. The key online distribution channels for probiotic supplements include Amazon, Costco, and The Vitamin Shoppe, among others.
Application Segmentation Insights:
The segment for gastrointestinal health will be the leading contributor to the global probiotic supplements market and is anticipated to contribute approximately 64% to the global market value by 2027. The reason for being the leading application segment can be attributed to the increasing prevalence of digestive diseases and diarrhea, due to changing food habits and lifestyle, especially in developing countries.
Regional Insights:
The North America probiotic supplements market is projected to expand at a CAGR of 10.68% during the 2018-2027 period, leading to global revenue of USD 1483.1 Mn by 2027. Increasing awareness about the benefits of probiotic supplements and inclinations towards preventive care will aid the growth of the market. The Asia-Pacific probiotic supplements market is expected to expand at the highest CAGR of 11.34% between 2018 and 2027.
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