Increasing convenience provided by pharmacies and awareness among women consumers have bolstered the probiotic supplements market

Development of antibiotic resistant strains necessitates additional probiotic complementation

Consumption of antibiotics per capita is increasing in the backdrop of an 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.

Therefore, it is also important to replenish such bacteria in the body, thus nucleating targeted bacterial strain consumption. A larger chunk of such population relying on antibiotics has learnt the importance of probiotic supplements and has started consuming it.

Antibiotics consumption has indicated a significant rise in BRICS countries in the last decade and some of the antibiotics are available over the counter in these countries. Nevertheless, probiotic supplement manufacturers have also adopted a targeted approach in these countries and have invested in marketing efforts. These factors are collectively anticipated to support the overall demand for probiotic supplements across the globe.

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Global sales of probiotic supplements were valued at nearly US$ 3,720 Mn in 2016, and are projected to be valued at around US$ 17,440 Mn by 2027 end. Sales revenue is expected to register a CAGR of 15.4% during the forecast period (2017–2027).

Limited or no knowledge of probiotic supplements among consumers hampers market growth

Although probiotic supplements producers are putting their best foot forward to increase the mass awareness of the associated benefits of using probiotic supplements, consumers haven’t been observed to be reciprocating at a similar threshold.

Limited product knowledge among the target customer base stands as a key challenge that is preventing the industry to unfold at its potential.

An encouraging sign can be observed in the market with changing consumer trends. The market sentiments in developing countries are positive but not aggressive. This hesitation in preference is likely to remain strong till the end of 2019, and is projected to neutralize with increasing competition in the ASEAN and Indian market.

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Increasing convenience provided by pharmacies and awareness among women consumers have bolstered the probiotic supplements market

Over the last few years, retail and pharmacy chains have grown rapidly in most countries across the globe.

Due to this pharmacy stores are considered as ideal distribution channels for the purchase of probiotic supplements. These stores also enable customers to compare the product offerings and price range of different suppliers before making a purchase decision.

Global Women Probiotic Supplements Market Attractiveness Analysis, by Distribution Channel

The Pharmacy Stores segment is expected to register relatively high CAGR during the forecast period. The pharmacy stores segment is estimated to account for a value share of almost 40% by 2017 end, and is anticipated to register a CAGR of 19.8% in terms of value over the forecast period.

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This release was published on openPR.