DUBLIN--(BUSINESS WIRE)--The "OTC Probiotics Supplements Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global OTC probiotic supplements market is expected to grow at a CAGR of 8.29% over the forecast period to reach a total market size of US$11,980.809 million by 2025, increasing from US$7,389.581 million in 2019.
OTC probiotics supplements includes all types of supplements that are available in various distribution channels and are often called nonprescription probiotics supplements. The increasing popularity of probiotic supplements coupled with the rising health awareness is expected to drive the growth of the market during the forecast period. In addition, the expanding scope of probiotics application is anticipated to boost the demand in the coming years. Furthermore, there is a favorable outlook of people toward medical nutrition in the developed countries like United States and Germany on account of the growing prevalence of digestive diseases and problems. Rising health awareness has resulted in the increasing expenditure on probiotic supplements and due to factors, such as changing lifestyle and eating habits has further increased the consumption of high-sodium based foods which is contributing towards the high prevalence of gastrointestinal disorders. All such factors and expected to boost the demand for probiotics supplements over the forecast period. However, the availability of substitutes remains a major challenge to widespread adoption of pharmaceutical probiotic products.
- Probi AB
- Lifeway Foods, Inc.
- Kibow Biotech
- Pharmavite LLC
- Osmotica Pharmaceuticals Corp
- Dietary Pros, Inc.
- Royal DSM
Growing scope of application is widening the growth opportunities for manufacturers and vendors
Currently, the application of probiotics is limited to a few health problems. But with the growing research and development activities, the scope of probiotics application is expected to expand during the forecast period. Also, in the coming years, the OTC pharmaceuticals probiotics may also replace other pharmaceutical agents with the rising consumer awareness about the health benefits the market is expected to witness exponential growth. Furthermore, growing product launches of advance and new flavored probiotic products coupled with the growing popularity of OTC pharmaceutical probiotic products is further expected to widen up the scope of growth opportunities for manufactures and vendors.
Availability of substitute is expected to restrain the growth of the market
Probiotics supplements are widely used to treat bowel problems such as diarrhea and irritable bowel among other forms of infections. All such problems and issues are also resolved through alternative ways such as herbal remedies. The availability of substitutes leads to consumers easily switching to an alternative even if there is a fractional price change. Also, due to this, the industry becomes more competitive because consumers can choose to purchase the substitute like digestive remedies instead of OTC pharmaceutical probiotics. The growing popularity of OTC pharmaceutical probiotics substitutes such as healthier drinks like kombucha tea that contain probiotics that can help gut flora is further expected to restrain the growth of the market over the forecast period.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global OTC Probiotics Supplement Market Analysis, By Form
6. Global OTC Probiotics Supplement Market Analysis, By Ingredients
6.2.3. Streptococcus Thermophilus
7. Global OTC Probiotics Supplement Market Analysis, By Distribution Channel
7.3.1. Drug stores and pharmacies
8. Global OTC Probiotics Supplement Analysis, by Geography
8.2. North America
8.3. South America
8.5. The Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ufkgk