Probiotics Market to be worth US$ 12 Billion by 2026
According to a report on the global probiotics market by TMR, the market was valued at US$6,762.2 mn in 2018. TMR predicts that the global probiotics market will expand at 8.3% CAGR during 2018–2026. The market is anticipated to reach US$12,753.4 mn in valuation by 2026 end.
Bottled packaging is expected to remain popular with consumers in the global probiotics market. It is expected to garner 8.7% CAGR growth during 2018–2026 period. The global probiotics market in North America region is also expected to register significant growth. Its appealing and convenient qualities make it a popular offering.
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Increasing Awareness about Consumption of Probiotics to Fuel Growth of Market
As an impact of busy, modern lifestyle, the consumption of healthy food among humans has been limited, and at times, individuals disturb the delicate balance of the body’s intestinal flora, which can cause occasional gastrointestinal discomfort, and infection in other body parts. Therefore, a healthy balance of intestinal flora and infection control can be supported through the consumption of food or food supplement products that contain friendly live bacteria cultures, commonly referred to as ‘probiotics’. Probiotics are live micro-organisms, when administered in adequate amount confer a health benefit on the host”, is the standard definition provided by the Food and Agriculture Association (FAO) of the United Nations. Consumption of antibiotics per capita is increasing on the backdrop of the increase in healthcare expenditure and out of pocket pharmaceutical spending. Low and middle income countries are growing in terms of per capita disposable income, and this factor is boosting antibiotic consumption in these countries. Furthermore, favorable policies to push antibiotics in these countries have amplified the usage of antibiotics in some of these countries. Excessive usage of antibiotics by an individual results in imbalance of microbiota, and also lowers the bacterial diversity as well as overall bacterial count in the gut.
Harmful effects of excess antibiotic consumption has been reported, necessitating the additional supplementation of friendly bacteria into the body. Some of these bacteria have also developed antibiotic resistant characteristics, and do not respond to the consumed antibiotics. It is thus important to replenish such bacteria in the body, thus nucleating targeted bacterial strain consumption. A larger chunk of such population relying on antibiotics has absorbed the importance of probiotic supplements, and have started consuming them. The consumption of antibiotics has shown a significant rise in BRICS countries in the last decade; some antibiotics are available over the counter in these countries. Needles to says, probiotic supplement manufacturers have also adopted a targeted approach in these countries, and have invested in marketing efforts. These factors collectively are expected to support the overall demand for probiotic supplements across the globe.
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Rising Demand for Healthy Bacteria for Gut Health Helping Market Development
The rising popularity of customized medication is likely to aid in expansion of the global probiotics market. Utilization of anti-infection agents per capita is expanding on the scenery of the increment in medical services use and cash based drug spending. Low and center pay nations are filling as far according to capita extra cash, and this factor is boosting anti-toxin utilization in these nations. Besides, good arrangements to push anti-toxins in these nations have enhanced the use of anti-infection agents in a portion of these nations. The demand for healthy bacteria with heavy investments for promotional activity will further aid in expansion of the global probiotics market in the future years.
Anti-microbials are progressively utilized in different clinical diagnosis around the globe. Furthermore, discretionary cashflow is on the ascent in arising nations. Developing mindfulness with respect to results of anti-infection agents is relied upon to help the worldwide probiotics market. Probiotics, for example, lactobacillus acidophilus are likely to bring down cholesterol, and furthermore assist with loose bowels and bacterial vaginitis. The contradictory effects of consuming antibiotics have been accounted for, further propelling the addition of bacteria that benefits the body. A portion of these microscopic organisms have additionally evolved anti-microbial safe attributes, and don’t react to the devoured anti-infection agents. It is accordingly important to recharge such microorganisms in the body, along these lines nucleating focused on bacterial strain utilization. A bigger piece of such populace depending on anti-toxins has assimilated the significance of probiotic supplements, and has begun burning-through them. The utilization of anti-microbial has indicated a huge ascent in BRICS nations in the most recent decade; a few anti-infection agents are accessible over the counter in these nations.
Key players in the global probiotics market are focused on improving distribution channels as online sales grow and offer potential to reach new consumers in the market. Additionally, these players are investing in promotions in emerging countries as the awareness about probiotics in these markets is still in its nascent stages. The key players in the global probiotics market are also investing in research and promotions to further the cause of probiotics as a health supplement to appeal to consumers.
The global probiotics market is a competitive and robust business landscape. The market is increasingly driven by changing consumer preferences and intense rivalries among top players, reports Transparency Market Research (TMR). Prominent players in the global probiotics market are Probi AB, Chr. Hansen Holding A/S, DowDuPont Inc., Nestlé S.A, and BioGaia AB.
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