Probiotic Supplements Market is Poised to Exhibit A Moderate 9.8% CAGR through 2027
In this report, Research Report Insights (RRI) delivers key insights on the global probiotics supplements market in its published report, titled “Probiotic Supplements Market by 2027.” In terms of revenue, the global senior probiotics supplements market is estimated to expand at a CAGR of 9.8% over the forecast period 2027, owing to numerous factors, about which RRI offers thorough insights and forecasts in this report.
The market is segmented based on bacteria, formulation type, distribution channel, and region. Based on formulation type, the market is segmented into capsules, tablets, liquid, and powder premixes. Among all the formulation type segment, capsule is expected to account for the highest market share, followed by powder premixes over the forecast period. The capsule segment is expected to register a significant CAGR of 11.4% during the forecast period in terms of value. The powder premixes is projected to register a CAGR of 9.0% over the forecast period in terms of value. The factors fuelling demand for probiotics supplements in elders is that, as their bodies cannot easily digest food and they also have lack of immune support. These factors are collectively supporting demand for probiotic supplements among the global elderly population.
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To provide in-depth insights on the pattern of demand for senior probiotics supplements, the market is segmented on the basis of bacteria, formulation type and distribution channel. The limited knowledge and awareness of medical practitioners along with low penetration of probiotic supplements across wider non-urban clusters is limiting the probiotic supplement industry to unfold at its potential. The market has been segmented by bacteria type which includes Lactobacillus, Streptococcus, Bifidobacterium and others. Elders are becoming aware about the health benefits probiotics supplements which in turn is surging the demand for senior probiotics supplements based products. Thus, enhancing the sales for formulation containing probiotic supplements. By the end of 2016, over 550 million people were aged over 65 year or older, which translates to roughly 8% of the world population. Over next thirty years, the number of people ageing sixty year or above will increase thrice and projected to surpass 1.5 billion- representing over 15% of the global population.
Problems of Digestion and Lack of Immune System Support Among Elders to Drive Growth of the Global Senior Probiotics Supplements Market: RRI
Associated health benefits of probiotic supplements, digestive system is responsible for catalyzing the food products consumed and absorption of vitamins and minerals from food and nutritional supplements, maintaining the digestive health is very important factor in optimizing nutrient intake and preventing from deficiency related bodily conditions. If the body remains deficient of required essential nutrients, immune function is likely to be compromised and there is higher probability of developing several health concerns. Medical practitioners and individuals realized the associated health benefits and thus recommending probiotic supplement to senior instead of high dosage of chemical based medicines.
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This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to senior probiotics supplements manufacturers looking to enter the market.
This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to senior probiotics supplements manufacturers looking to enter the market. The North America market has been estimated to dominate the senior probiotics supplements market, accounting for maximum revenue share of the market by 2017 end. Collectively, North America and Western Europe markets are expected to account for over 70.6% revenue share of the global senior probiotics supplements market by 2017 end. Among the emerging markets, APEJ is estimated to exhibit a significant CAGR of 8.8% over the forecast period, followed by Western Europe market, due to the increasing elderly population.
Some of the key players in the global senior probiotics supplements market include Church & Dwight Co. Inc., DR. WILLMAR SCHWABE GROUP, The Clorox Company, i-Health, Inc., Jarrow Formulas, NOVA Probiotics, Natural Factors Inc., Total Nutrition, Inc., PharmaCare Laboratories, BioGaia AB, and Lifeway Foods, Inc. In this report, we have discussed individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, product offerings, mergers and acquisitions. The ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and company share collectively.
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