Global Probiotic Dietary Supplement Market - Growth, Trends, and Forecast (2018-2023)

Market Insights

The global probiotic dietary supplement market value is expected to reach USD 48.32 billion by 2023. The use of probiotics as a primary ingredient in sports nutrition is becoming a popular trend. For instance, companies like Ingredion, GoodBelly, and NextFoods Inc., are aiming to tap into the sports drink market, by improving their products using probiotics.

Market Dynamics

The demand for preventive medicine industries is on the rise, due to the high number of baby boomers suffering from digestive ailments, the higher interest of middle-aged adults in maintaining digestive health, along with the lack of balanced dietary intake.
The probiotic dietary supplements industry is highly competitive, and there is a huge opportunity for probiotic dietary supplements, with innovations such as personalized nutrition, vegan probiotic dietary supplements, etc.

Market Segmentation

The probiotic dietary supplements market is segmented by type into sports & energy supplements, food supplements, nutrition supplements, infant formula, and others. Nutrition supplements and infant formula are expected to register a CAGR of 6.04%.
The specialty nutrients segment has developed as one of the leading segments. Easy accessibility of specialty nutrient products and their health benefits have added to the growth of the segment in the recent past, and this trend is expected to continue over the forecast period.

Regional Analysis

Europe dominated the global market for probiotic dietary supplements, with around one-third of market share. Strong consumer awareness regarding probiotics usage, easy availability, and the presence of major industry manufacturers and their focus towards product innovation are expected to play a key role in the rapid growth of the market. Asia-Pacific is emerging as the fastest growing probiotic supplement market and is expected to witness a CAGR of 8.1% over the next five years. Increasing population and rising standards of living, owing to the increase in disposable incomes, are the key reasons for the demand.

Key Developments

• March 2017 - General Mills venture fund made an investment in Farmhouse Culture, a maker of probiotic-rich foods and beverages.
• June 2016 - Bacillus subtilis MB40, a unique strain of probiotics that is safe for consumption, is manufactured in BIO-CAT OPTI-BIOME™. The strain provides a better shelf-life and does not require refrigeration, making it ideal for inclusion not just in supplements, but in bars and powders as well.

Major players - BIFODAN, BIOCARE COPENHAGEN, BIOGAIA, CHR. HANSEN HOLDING A/S, CONTRACT NUTRA, CUSTOM PROBIOTICS, INC., DAFLORN, DEERLAND ENZYMES, LALLEMAND, MERCOLA PROBIOTICS, NEBRASKA CULTURES, NUTRACEUTIX, among others.

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• Analyzing outlook of the market with the recent trends and Porters five forces analysis
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• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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