Dublin, Oct. 05, 2022 (GLOBE NEWSWIRE) — The report “Over-the-Counter Probiotic Supplements Market – Forecast 2022 to 2027” has been added to from ResearchAndMarkets.com offer.
The global over-the-counter probiotic supplements market is expected to grow at a CAGR of 13.79% during the forecast period to reach a total market size of US$23.367 billion by 2027, from US$9.462 billion in 2020.
Over-the-counter probiotic supplements include all types of supplements available through various distribution channels and are often referred to as non-prescription probiotic supplements. Rising popularity of probiotic supplements coupled with growing health awareness is expected to drive the market growth over the forecast period. Also, expanding the scope of probiotics is expected to drive demand in the coming years.
Additionally, people are supportive of medical nutrition in developed countries like the United States and Germany due to the increasing prevalence of diseases and digestive issues. Growing health awareness has led to increased spending on probiotic supplements, and factors such as changes in lifestyle and dietary habits have further increased the consumption of sodium-rich foods, contributing to the high prevalence of gastrointestinal disorders. All these factors are expected to drive the demand for probiotic supplements over the forecast period. However, the availability of substitutes remains a major challenge to the widespread adoption of probiotic pharmaceuticals.
Growing Scope Expands Growth Opportunities for Manufacturers and Suppliers
Currently, the application of probiotics is limited to a few health problems. However, with the growth in research and development activities, the application scope of probiotics is expected to expand over the forecast period. Additionally, in the years to come, over-the-counter pharmaceutical probiotics may replace other pharmaceutical agents. With the growing consumer awareness about the health benefits, the market is expected to grow exponentially. Additionally, increasing launches of advanced and novel flavored probiotic products, coupled with the growing popularity of over-the-counter pharmaceutical probiotic products, are expected to further broaden the scope of growth opportunities for manufacturers and suppliers.
Availability of substitutes is expected to restrain market growth
Probiotic supplements are widely used to treat intestinal issues such as diarrhea and irritable bowel, among other forms of infections. All these problems and questions are also solved by alternative means such as herbal remedies. The availability of substitutes leads consumers to quickly switch to an alternative, even if there is a fractional price change. Additionally, because of this, the industry has become more competitive as consumers can choose to purchase substitutes like digestive remedies instead of over-the-counter pharmaceutical probiotics. Rising popularity of over-the-counter pharmaceutical probiotic alternatives such as healthier beverages like kombucha tea that contain probiotics that can help gut flora is further expected to restrain the market growth over the forecast period.
Segmentation:
By form
- capsules
- Tablets
- Powder
- Syrups
By ingredients
- bacteria
- Lactobacilli
- Bifidobacterium
- Streptococcus Thermophilus
- Yeast
By distribution channel
- On line
- Offline
- Drugstores and pharmacies
By geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- France
- UK
- Spain
- Middle East and Africa
- Saudi Arabia
- Israel
- Asia Pacific
- China
- Japan
- India
- Thailand
- Indonesia
- Taiwan
Main topics covered:
1. Introduction
2. Research methodology
3. Executive Summary
4. Market dynamics
5. Global OTC Probiotic Supplements Market Analysis, By Form
6. Global OTC Probiotic Supplements Market Analysis, By Ingredient
7. Global OTC Probiotic Supplements Market Analysis, By Distribution Channel
8. Global OTC Probiotic Supplements Analysis, By Geography
9. Competitive environment and analysis
10. Company Profiles
Companies cited
- Du Pont
- Danone
- Probi AB
- Lifeway Foods, Inc.
- Kibow Biotech
- Pharmavite LLC
- Osmotica Pharmaceuticals Corp.
- Diet Pros, Inc.
- Royal DSM
For more information on this report, visit https://www.researchandmarkets.com/r/tgo426
-
Over-the-Counter Probiotic Supplements Market
