The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, March 20, 2023 /PRNewswire/ -- As per The Business research Company's Probiotic Dietary Supplements Global Market Report 2023, probiotic dietary supplements market size will grow from $6.4 billion in 2022 to $6.8 billion in 2023 at a compound annual growth rate (CAGR) of more than 7%. The probiotic dietary supplements market size is then expected to grow to $9.4 billion in 2027 at a CAGR of more than 8%.
The global probiotic dietary supplements market is segmented -
- By Source: Yeast, Bacteria
- By Form: Capsules, Chewables And Gummies, Powders, Tablets And Softgels, Other Forms
- By Distribution Channel: Business To Business, Business To Consumer
- By Application: Infant Formula, Food Supplement, Specialty Nutrients, Nutritional Supplements
- By End Use: Human Probiotics, Animal Probiotics
The top opportunities in the probiotic dietary supplements market segmented by source will arise in the bacteria segment, which will gain $2.3 billion of global annual sales by 2027.
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https://www.thebusinessresearchcompany.com/sample.aspx?id=6267&type=smp
The global probiotic dietary supplements market is fairly concentrated, with a few large players. Reckitt Benckiser LLC was the largest competitor with 8.3% share of the probiotic dietary supplements market, followed by Procter & Gamble, International Flavors & Fragrances (IFF), Church & Dwight Co Inc, Koninklijke DSM NV, Chr. Hansen Holding A/S, BioGaia AB, PharmaCare Laboratories, Probi AB, and Protexin.
One of the strategies used by these players in the global probiotic dietary supplements market is focusing on delivering tailored health benefits through the launch of new products. An example of this can be seen in the strategy of Reckitt Benckiser Group. For instance, in September 2020, Reckitt launched Bodi-Ome, a first-of-its-kind microbiome brand. The Bodi-Ome offers a line of five probiotic dietary supplements that uses targeted and clinically-proven probiotic strains for supporting digestive and immune health, vaginal health, heart health, and mood.
Another strategy we see being used in the global probiotic dietary supplements market is an increase in innovation in the field of metabolic health through strategic collaborations and partnerships. For instance, in September 2020, P&G partnered with DuPont for developing next-generation probiotics (NGPs), which will initially be used in dietary supplements. Through this partnership, P&G aims at providing innovative probiotic solutions for the well-being of consumers across the world.
Read The Full Global Probiotic Dietary Supplements Market Here:
Probiotic dietary supplements market report 2023 by the business research company describes and explains the probiotic dietary supplements market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report covers market sizing information, market trends, strategies, and opportunities for the seven regions and major players of the probiotic dietary supplements market.
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