The global probiotic supplements market size is expected to reach US$ 11,529.10 million by 2028, registering a CAGR of 7.6% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Probiotic supplements are live microorganisms in available formats such as powers, tablets, and capsules among others; these supplements are consumed to restore or improve the gut flora. The market opportunities for probiotic supplements are increasing at a high pace as consumers are increasingly focusing on preventive healthcare measures and consumption of dietary supplements for overall health & wellness.
Health has become a top priority for consumers across the globe, leading to a boom in demand for functional supplements. Consumers are willing to pay more for products that offer enhanced health benefits. There has been a massive demand for plant-based and non-GMO probiotic supplements. In addition, the plant-based and non-GMO (Genetically Modified Organism) trend is rapidly evolving across the global market, which has compelled various manufacturers of probiotic supplements to develop plant-based supplements. Thus, with increasing preference for non-GMO and vegan probiotic supplements, manufacturers are developing and launching these probiotic supplements to cater to the demand of consumers.
Moreover, veganism has gained significant momentum in recent years. Consumers are highly inclined toward plant-based products as they perceive them to be healthier than conventional products. Thus, due to the flourishing trend of veganism, the manufacturers of dietary supplements such as probiotic supplements are launching plant-based products. For instance, Nature’s Bounty manufactures probiotic gummies consisting of a special probiotic strain naturally found in the intestinal microbiome and made with natural flavors. They are plant-based and non-GMO. This provides customers with friendly bacteria for their digestive system along with a desirable taste. Thus, the growing inclination toward vegan and non-GMO probiotic supplements due to the rising popularity of veganism and health consciousness is expected to bring new trends to the probiotic supplement market during the forecast period.
A few players operating in the probiotic supplements market are Bayer AG; Pharmavite LLC; BioGaia AB; Nature’s Way Products, LLC; Nestle SA; SFI Health; GNC Holdings, LLC; Nature’s Bounty; Church & Dwight Co., Inc. ; NOW Foods among few others.
According to the National Centre of Biotechnology Information (NCBI), women are two- to six-times more likely to experience irritable bowel syndrome than men, and this disease is diagnosed at a rate of 2:1 in women compared with men. Hence, they tend to focus on their health to stay fit and avoid infections and illnesses. This has led to high demand for probiotic supplements that support women’s health.
The COVID-19 pandemic affected economies and industries in various countries due to lockdowns travel bans, and business shutdowns. The pandemic disturbed the manufacturing processes due to lockdown restrictions imposed by government authorities in various countries. However, it also drove the demand for probiotic supplements with significant changes in consumption trends as consumers gravitated toward immunity-boosting and nutritious products in 2020. As a result, the sales of dietary supplements consisting of vitamins, multivitamins, probiotics, and other immunity-boosting components increased after the onset of this global health crisis.
