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Probiotics Dietary* Supplements Market Demand, Evolving Trends, Future Perspectives, Size, Share And ForecastTo2033
Probiotics Dietary* Supplements Market Demand
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According to The Business Research Company's, The Probiotics Dietary* Supplements market size has grown strongly in recent years. It will grow from $6.94 billion in 2023 to $7.53 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in digestive diseases, growing number of health-conscious consumers and the covid-19 impact.
The Probiotics Dietary* Supplements market size is expected to see strong growth in the next few years. It will grow to $10.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing number of diseases, rising older population, rising penetration of organized retail, increased dietary consciousness and increasing demand for sports nutrition . Major trends in the forecast period include focusing on dairy-free probiotics, developing probiotic ingredients for sports nutrition, focusing on long-life probiotics, focusing on customized probiotic supplements, focusing on product innovations and leveraging partnerships and collaborations.
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Market Drivers and Trends:
The rising demand for sports nutrition products is expected to drive the growth of the probiotic dietary supplements market in the forecast period. Probiotic may provide support for athletes to counter the stresses of high physical activity levels by enhancing gut barrier function, immune function and others. Many athletes, including over 85% of elite track and field competitors, use dietary supplements as part of their regular training or competition routine. Vitamins, minerals, protein, creatine and various ergogenic chemicals are all regularly utilized supplements. For instance, in May 2021, according to the Australian Institute of Sport (AIS), a sports training institution in Australia, a total of 49 national and international fencers (18 men and 31 women) completed a questionnaire about sports supplements (SS) use and the potential effects on health and/or sports performance. The main incentive for 46.9% of fencers to use SSs was to increase their performance (34.2%). Medical doctors were the ones who were most likely to recommend that males take SSs. Women were the ones who were more inclined to get advice from their friends. Sports drinks (44.9%), vitamin C (43.4%), sports bars (38.8%) and caffeine were the most commonly consumed SS (28.6%). Therefore, the growing consumption of dietary *supplements for functional benefits amongst athletes across the globe is expected to drive the probiotic dietary *supplements market in the forecast period.
Technological advancement is the key trend gaining popularity in the dietary *supplements market. Major companies operating in the probiotic dietary* supplements market are focused on developing advanced technology to sustain their market position. For instance, in June 2022, COSMAX NBT, a US-based company that delivers dietary* supplement products, launched Zeta probiotics. Zeta probiotics are a technology to improve the intestinal survival rate and adhesion ability of probiotics. Zeta probiotic technology uses a lysine-based mixture to rehydrate freeze-dried probiotics. This improves their viability during in vitro simulated gastric and duodenum stress conditions.
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Major Key Players of the Market:
Darling Ingredients Inc, Ridley Corporation Limited, APC Proteins, Essentia Protein Solutions, Daka Denmark A/S, Veos Group, West Coast Reduction Ltd, FASA Group, FeedWorks Pty. Ltd., Kraeber & Co Gmbh, Frigorifico Allana Private Limited (FAPL), Allanasons Private Limited, Premier Nutrition Limited, AB Agri Ltd, SARIA Bio-Industries AG & Co. KG, Sera Scandia A/S, North-West Regional Company, Vitomek, Intercom, Sewa Sante Animalu, Agrofid Rus, Puretein Agri, Rocky Mountain Biologicals, Ekofood, Mars, Hill's Pet Nutrition, Nestle Brazil Ltda, ADM, Affinity Petcare SA, Nestle Purina Arabia, Nestle Middle East, Bio-Pet Ltd, Tropikal Pet, Cagatay Pet Food, Nestle South Africa Pty Ltd, African Gazelle Products, Maneli Pets, RCL Foods, Mars Africa Pty Ltd, Martin & Martin Pty Ltd, PROMEAL
Probiotics Dietary* Supplements Market 2024 Key Insights:
• The Probiotics Dietary* Supplements market size is expected to see strong growth in the next few years. It will grow to $10.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Elevated Demand In Sports Nutrition Fuels Growth In Probiotic Dietary* Supplements Market
• Innovative Technological Advancements Shape The Future Of The Probiotic Dietary *Supplements Market
• North America was the largest region in the Probiotics Dietary* Supplements market in 2023
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