The global probioticsmarket is acompetitive and robust business landscape. The market is increasingly driven bychanging consumer preferences and intense rivalries among top players, reportsTransparency Market Research (TMR). Prominent players in the global probioticsmarket are Probi AB, Chr. Hansen Holding A/S, DowDuPont Inc., Nestlé S.A, andBioGaia AB.
Keyplayers in the global probiotics market are focused on improvingdistribution channels as online sales grow and offer potential to reach newconsumers in the market. Additionally, these players are investing inpromotions in emerging countries as the awareness about probiotics in thesemarkets is still in its nascent stages. The key players in the globalprobiotics market are also investing in research and promotions to further thecause of probiotics as a health supplement to appeal to consumers.
Accordingto a report on the global probiotics market by TMR, the market was valuedat US$6,762.2 mn in 2018. TMR predicts that the global probiotics market willexpand at 8.3% CAGR during 2018-2026. The market is anticipated to reachUS$12,753.4 mn in valuation by 2026 end.
Bottledpackaging is expected to remain popular with consumers in the global probioticsmarket. It is expected to garner 8.7% CAGR growth during 2018-2026 period. Theglobal probiotics market in North America region is also expected to registersignificant growth. Its appealing and convenient qualities make it a popularoffering.
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GrowingAwareness about Consumption of Probiotics to Fuel Growth of Market
Antibioticsare increasingly used in various medical ailments around the world.Additionally, disposable income is on the rise in emerging countries. Growingawareness regarding side-effects of antibiotics is expected to boost the globalprobiotics market. Probiotics such as lactobacillus acidophilus are believed tolower cholesterol, and also help with diarrhea and bacterial vaginosis.
Onthe other hand, increased use of antibiotics can result in imbalance inmicrobiota and reduces the healthy bacterial activity as well. This isespecially significant for small children who have low resistance to ailmentslike diarrhea. The global probiotic market is expected to chip in to meet thedemand for healthy bacteria activity with heavy investments in promotionalactivity during the forecast period.
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Additionally,antibiotics are in high demand in BRICS (Brazil, Russia, India, China and SouthAfrica) countries. As the awareness about antibiotics is still limited in thesemarkets, some antibiotics are easily available over the counter. To counter theinflux of antibiotics, probiotics manufacturers have adopted a task-drivenapproach to chase consumers. Growing advancements in tracking consumer activityonline and large penetration of smartphones in the BRICS markets are expectedto drive growth of the global probiotics market.
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EuropeMarket Presents a Challenge to Overall Growth
Theglobal probiotics market also faces considerable challenges during the forecastperiod. The EU has banned the word ‘probiotic’ from promotions. This is a majorsetback to the global probiotic market during the forecast period. However, themarket is expected move towards emerging economies with high capitalinvestments. The rise of e-commerce offers more promotional and distributionopportunities for players in the global probiotics market.
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