Prescriptive Analysis of Probiotics Market to Grow at a Stayed CAGR with Huge Profits by 2029
The global revenue generated from Probiotics market is estimated to be valued at roughly US$ 6,762.2 Mn by the end of 2018 and is expected to increase at a CAGR of 8.3% over the forecast period. Global Probiotics market are expected to be valued at approximately US$ 12,753.4 Mn by the end of 2026.
Key Drivers & Restraints Impacting the Market Performance through 2026
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.
Market Taxonomy on the Basis of Form, Packaging Type, & Distribution Channel
By form, the Probiotics market is segmented into dry and liquid. The dry segment is further sub-segmented as tablets/ caplets, capsules, powder/ granules and chewables. The dry segment is likely to be the most attractive segment in the forecast period owing to the availability of larger product variants coupled increasing product offerings in powder/granule format.
On the basis of packaging type, the Probiotics market can be segmented into blisters, bottles, containers, sachets, stick packs, droppers and others. Among all these segment the containers segment is estimated to account for a significant revenue share of 24.7% in 2018 and is expected to register significant growth rate during the forecast period. However the bottle segment is expected to register comparatively largest CAGR growth of 8.7% during the forecast period.
Furthermore, on the basis of distribution channel, the Probiotics market is segmented into hypermarkets/ supermarkets, pharmacies/ drugstores, specialty stores and online sales.
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Analysis of Key Regional Markets & Key Market Players
On the basis of region, the market in North America and Europe is expected to dominate in terms of value share over the forecast period followed by Asia Pacific. Asia pacific is expected to become a prominent market by the end of the forecast period with a significant CAGR attributed to increase in product penetration and rising awareness through various promotional activities.
Some of the major companies operating in the global Probiotics market are Chr. Hansen Holding A/S, BioGaia AB, Probi AB, Nestlé S.A., DowDuPont Inc., The Procter & Gamble Company, Probiotics International Limited, Lallemand Inc. Pfizer Inc., PharmaCare Laboratories, Dr. Willmar Schwabe Group, SymbioPharm GmbH and others.
Increasing Demand for Healthy Bacteria for Gut Health will Boost Probiotics Market
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. Needles to says, probiotic supplement makers have additionally embraced a focused on methodology in these nations, and have put resources into promoting endeavors. These variables all in all are required to help the general interest for probiotic supplements across the globe.
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