Probiotics Dietary Supplements Market size is valued at $ 4.91Bn by 2019, and is anticipated to grow at a CAGR of 12.4% during the forecast period 2020-2025. The Probiotics Dietary Supplements Market growth rate is attributed to the rising preference towards preventive healthcare coupled with inherent health benefits of probiotics with increasing prevalence of diseases such as obesity, diabetes, blood pressure, owing to hectic lifestyle and improper diet, use of these supplements to improve immune system to treat various gastrointestinal diseases, breast cancer, dental caries is set to be the major driving factor of Probiotics Dietary Supplements industry. Probiotics are defined as live microbial food ingredients that provide several benefits to human health. These dietary supplements are living microorganisms, that when consumed, benefit health by improving the balance of bacteria in intestines. The ingredients stimulate natural digestive juices and enzymes in the body to ensure proper functioning of the digestive system, and can be administered through food or in the form of supplements. The normal human digestive tract contains about 400 types of probiotic bacteria that reduce growth of harmful bacteria and promotes a healthy digestive system. In addition, probiotics protect healthy organisms from harmful counterparts. Nowadays, probiotic products are employed to diagnose mental illness, and treat digestive problems and neurological disorders. Moreover, they strengthen the human immune system, protect proteins & lipids from oxidative destruction, and reduce body pathogens. Probiotic ingredients are sold in the form of capsules, tablets, powders, and gel. The use of probiotics has gained popularity in recent years with increasing demand in various industries. An emphasis on improving digestive health in humans and animals along with surging demand for natural functional ingredients in application industries are the major driving factors for the global probiotics market growth. Consequently, the probiotics manufacturers and processors are seeking to innovate on niche offerings thereby creating and retaining wider consumer base. Furthermore, investments in R&D and capacity expansions are anticipated to propel the Probiotics Dietary Supplements Market during the forecast period 2020-2025.
Microbial Genus- Segment Analysis
Yeast segment held the largest share in the market. The yeast segment is projected to be the fastest-growing during the forecast period 2020-2025. The increasing demand for products incorporating Saccharomyces boulardii, unique tropical yeast with several beneficial, effects on human intestinal health positively. Furthermore, increasing awareness about the health benefits of probiotics has driven the consumption of probiotic yogurts in developing countries such as China, Brazil, and India.
However, Lactobacillus-based probiotic supplements continue to exert stronger consumer appeal and vaginal probiotic supplements based on lactobacillus have been garnering significant traction over the years. Rise in adoption of bifidobacterium and streptococcus-based probiotic supplements is to be seen in the near future. In Japan, a variety of probiotic-containing products are available in supermarkets, ranging from fortified drinks to candies containing strains from the Lactobacillus and Bifidobacterium genera.
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Application Type-Segment Analysis
Based on application, nutritional supplements segment held the major share of the market in terms of revenue and is estimated to grow with a CAGR of 7.22%. The reason is set to be attributed to the ability of nutritional supplements to benefit the overall body functions such as digestion of the consumer. Besides, ability of supplements to suit specific needs of customers such as immunity and gastrointestinal functions and recent advancements in product development are anticipated to aid demand growth over the forecast period 2020-2025.
However, the application of specialty nutrient is anticipated to gain a significant CAGR of 3.21% owing to Easy availability of specialty nutrient products and effectiveness against diseases have contributed to the segment growth in the recent past, and this trend is set to continue over the forecast period 2020-2025. Infant nutrition formula is the most important application within in this segment. Growing Probiotics infant formula comes in different forms such as concentrated liquid, powder, and can be mixed with other liquids such as milk. The customized product offering specifically designed to match the metabolic and intestinal needs of infants is set to benefit the segment growth over the years.
By Geography - Segment Analysis
Europe dominated the Probiotics Dietary Supplements Market with a share of 36% in 2019. The application of Probiotics Dietary Supplements has grown rapidly over the last few years owing to the presence of various domestic and international market players and increasing health concerns among individuals in the countries in the region and has resulted in Europe being a net exporter is anticipated to promote the market over the forecast period 2020-2025. Furthermore, Europe Probiotics Dietary Supplements market size driven by Spain, UK, Italy, France and Germany should witness a significant growth during the foreseeable timeframe. Strong consumer awareness regarding probiotics usage, easy availability and willingness to spend on dietary supplements is set to augment the product growth. Moreover, in Europe, as probiotic supplements are easily available in pharmacy stores and modern trade channels. Accounting for around half of global revenues, market in Europe is set to be majorly driven by strong emphasis on preventive healthcare and increasing interest in online self-education, thereby driving the regional demand.
Asia Pacific is anticipated to witness robust growth over the forecast period 2020-2025, owing to the strong demand from countries, such as India and China is likely to boost the regional demand. In addition, the market has evolved rapidly over the years with China and Japan occupying more than half of the regional sales. The demand of probiotics in India and some countries in Central and South-East Asia is to remain promising amid rising awareness towards such as specialty nutritional offerings. The expanding middle class with growing spending of South America and Africa is anticipated to further fuel the growth
Drivers – Probiotics Dietary Supplements Market
Health benefits associated with probiotics fortified food:
With health awareness among consumers is on the rise and most consumers are constantly in search of healthy food products for consumption. Probiotics have proven strong benefits related to health, more specifically to the human digestive system. Probiotics are found in supplement form or as components of foods & beverages. Their integration with inexpensive health foods, such as yogurt, fruit juices, and cultured dairy drinks has contributed to a significant market size. The most commonly used bacteria include Bifidobacteria and Lactobacilli, which are found in various dairy products, including yogurt. In the dairy category, yogurt is the most popular option for consumption of probiotics. The probiotics manufacturers and processors are seeking to innovate on niche offerings thereby creating and retaining wider consumer base. Investments in R&D and capacity expansions are one of the typical trends observed with operating in this market. For instance, in June 2018, Evolve BioSystems Inc. received a C series funding from Bill & Melinda Gates Foundation and Horizons Ventures, to expand the accessibility of Evolve’s infant probiotic product, infant formulas, in the U.S. and worldwide.
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Challenges – Probiotics Dietary Supplements Market
High R&D costs for developing new probiotic strains:
The major challenge for the market is attributed to the Substantial investments in R&D activities and investments in laboratories, research equipment, and high cost of hiring trained professionals create barriers for the development of the probiotic market. The scientific validation regarding the usage of probiotics in their applications becomes a success to this market. Probiotics applications are linked with health benefits, which make it challenging for manufacturers to get an adequate return on investments on high initial investments. Probiotic supplements and products are developed and produced as per the international food regulations. Owing to the high cost of production, the cost of the final product is also high. Marketing and distribution of these products also add to the product price, as they require different packaging and distribution channels as compared to common products. Though consumers are aware of the health benefits of probiotics, their high prices are restraining them from buying the product, thereby impacting the galacto oligosaccharide market landscape.
Probiotics Dietary Supplements Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Probiotics Dietary Supplements Market. In 2019, Probiotics Dietary Supplements Market share is fragmented by the top ten players present in the market. Probiotics Dietary Supplements Market top 10 companies are Bifodan, BioCare Copenhagen, BioGaia, Chr. Hansen Holding A/S, Contract NUTRA, Custom Probiotics Inc., Daflorn, Nebraska Cultures, NutraScience Labs, Probi USA Inc. (Nutraceutix), and others.
Acquisitions/Product Launches
In June 2020, Yakult Japan launched its first shelf-stable probiotic supplement sachets to improve consumer convenience. The powder form of the sachets contains Lactic Acid Bacteria and Bifidobacteria probiotic strains.
In June 2019, Chaban in collaboration with Chr.Hasen developed a new product in the kefir and bio yogurt having probiotic strains of Lacto-bacteria.
In August 2017, DuPont expanded its probiotic facility in Madison, Wisconsin, US. The company made an investment of USD 10 million. The motive behind the expansion was to further expand its presence in the probiotics market.
Key Takeaways
Europe dominated the Probiotics Dietary Supplements Market with a share of 36% in the year 2019.
The factors such increasing consumer preference for natural products, increasing concerns of consumers on preventive healthcare and effectiveness of probiotic bacteria on health drive are amongst the major factor projected to impel growth of Probiotics Dietary Supplements Market.
The demand for preventive medicine industries is on the rise, owing to the high number of baby boomers suffering from digestive ailments, the higher interest of middle-aged adults in maintaining digestive health, along with the lack of balanced dietary intake are the key factors owing to the growth in the segment during forecast period 2020-2025.
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