Consumers are increasingly turning to alternative remedies and supplements to improve their well-being in today's environmentally conscious world. Probiotic supplements are now an important force among them, offering an array of benefits for the digestive tract along with other areas. The probiotic supplements market continues to grow impressively as people get increasingly conscious of the significance that gut health has become. This offers exciting potential for companies in the industry who want to get into this growing market.
Rise in Probiotics
Many reasons have contributed to the rise in demand for probiotic supplements. First, it has become evident that consumers are becoming more interested in preventive healthcare and holistic wellness. People actively search for products that can promote a healthy gut flora as evidence of the importance of gut health continues to grow.
According to a 2021 International Food Information Council survey, 51% of Americans take probiotics to support gut health, 33% to support immune health, 38% to support overall health and wellness, and 13% to support emotional health. The growing popularity of probiotics as a natural option for preserving gut balance and general health has also been fuelled by factors including the rising incidence of digestive problems and worries about the negative effects of prescribed medications.
Market Dynamics
The global probiotic supplement market has seen substantial growth in recent years, and experts predict this trend to continue in the foreseeable future. Factors such as rising health awareness, growing disposable incomes, and an aging population are driving this growth trajectory.
According to WHO Report 2023, by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
While this shift in distribution of a country's population towards older ages – known as population ageing – started in high-income countries (for example in Japan 30% of the population is already over 60 years old), it is now low- and middle-income countries that are experiencing the greatest change. By 2050, two-thirds of the world’s population over 60 years will live in low- and middle-income countries.
Furthermore, advancements in formulation technologies and product innovation have led to a diverse range of probiotic supplements catering to various demographics and health needs. From traditional capsules and tablets to functional foods and beverages, manufacturers are expanding their product offerings to meet the diverse preferences of consumers.
In July 2023, Danone SA, has used its expertise in breastmilk research and breastfeeding to develop Almimama, a probiotic supplement that can help reduce the incidence of mastitis. Affecting approximately one in four mothers, mastitis (inflammation in the breast) causes flu-like symptoms and breast pain, as well as skin rashes, fever and breast engorgement. Breastmilk is widely recognized as nature’s most powerful nutrition and tailormade for a baby’s needs, providing many short- and long-term benefits for both babies and mothers. Despite these benefits, only 48% of babies under six months of age are exclusively breastfed.
Key Opportunities
Targeted Formulations:
With consumers increasingly seeking personalized health solutions, there's a growing demand for probiotic supplements tailored to specific health concerns. Companies have an opportunity to develop formulations that address issues ranging from immune support to mood management and weight management.
Functional Foods and Beverages:
The incorporation of probiotics into everyday foods and drinks presents a significant growth opportunity. Products like yogurt, kefir, kombucha, and snack bars are being fortified with probiotics to appeal to health-conscious consumers looking for convenient ways to improve their gut health.
Online Retail Expansion:
The rise of e-commerce has revolutionized the way consumers shop for health supplements. Online retail channels offer convenience and access to a wider range of products, making them essential for probiotic supplement brands to reach and engage with their target audience.
Online retail is a major and fast-growing distribution channel for probiotic supplements. The COVID-19 pandemic led to a surge in online sales of probiotic supplements as consumers sought immunity solutions. In 2021, the e-commerce market for probiotic supplements was valued at $1.7 billion. In 2022, growth remained strong at 18%.
Investment in Research and Development:
Continued investment in research and development is crucial for driving innovation and staying competitive in the probiotic supplement market. Companies that invest in scientific research to validate the efficacy of their products and explore novel probiotic strains stand to gain a significant advantage in this rapidly evolving landscape.
Conclusion
In summary, the burgeoning market for probiotic supplements offers ample opportunities for companies willing to innovate and meet the evolving needs of consumers. By understanding key trends, embracing product innovation, and investing in research and development, businesses can position themselves for success in this dynamic landscape. As consumers continue to prioritize health and wellness, the future of the probiotic supplement market looks promising, with plenty of room for growth and innovation.
For more information: Global Probiotic Supplements Market
