What is OTC Probiotics Supplement Market?
OTC probiotic supplements encompass all types of supplements available in various distribution channels, often referred to as non-prescription probiotic supplements. The increasing popularity of probiotic dietary supplements coupled with increasing health awareness should drive the growth of the market over the forecast period. In addition, the growing scope of probiotics is expected to drive demand in the years to come. In addition, there are favorable prospects for medical nutrition in developed countries such as the United States and Germany due to the increasing prevalence of digestive diseases and problems. Growing health awareness has led to increased spending on probiotic supplements and, due to factors such as changes in lifestyle and eating habits, further increases the consumption of foods high in sodium, contributing to the high prevalence of gastrointestinal diseases. All of these factors should drive demand for probiotics over the forecast period. However, the availability of substitutes remains a major challenge for the widespread adoption of pharmaceutical probiotic products.
The market study is being classified, by Application (Adults and Children) and major geographies with country level break-up.
DuPont (United States), Danone (France), Probi AB (Sweden), Lifeway Foods, Inc. (United States), Kibow Biotech (United States), Pharmavite LLC (United States), Osmotica Pharmaceuticals Corp (United States), Dietary Pros, Inc. (United States) and DSM (Netherlands) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global OTC Probiotics Supplement market throughout the predicted period.
Analyst at AMA have segmented the market study of Global OTC Probiotics Supplement market by Type, Application and Region.
On the basis of geography, the market of OTC Probiotics Supplement has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Consumption of Probiotic Tablets due to Health Benefits Associated with the Same
- Rise of Awareness Regarding Fitness and Gym Culture
- High Adoption Due to Their Various Health Benefits
- Increasing Awareness about Highly Efficient Probiotic Supplements
- Increased Interest in Functional Foods
- Technological Advancements and Increasing Participation of R&D Activities in Probiotic Tablet Development
- High Adoption due to Environmental Friendly and Efficient Materials
- Introduction to Probiotic Supplements which can Replace Pharmaceutical Agents
- Volatile Stringent International Regulations might stagnate the International Trades
- Higher Initial Investments in developing Probiotic Tablets with Negligible Manufacturing Tolerance
- High Cost of Products
- Increasing Health Consciousness across the Global Population
- Increasing Demand for Probiotic Supplements from Developing Economies
- Ease to Consume Due to High Soluble and Concentrated Form
- Safety Consideration while Manufacturing Probiotics Supplements
- Skilled Workers are Required in Developing Probiotic Supplements
The Food Safety and Standards Act of 2005 (FSSA) defines the foods for special nutritional purposes or functional foods, nutraceuticals, or dietary supplements. At present, probiotics in India are characterized as functional foods rather than medicinal products and are regulated by food laws that regulate general foods. The FSSA was passed by the Government of India with the aim of regulating various types of edible regulations for nutraceuticals, foods, and dietary supplements. Functional foods are legally defined according to the FSSA, but the categorization of food categories such as nutraceuticals and biotherapeutics is still unclear.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers of Probiotics Supplement, Suppliers and Distributors of Probiotics Supplement, Venture Capitalists and Private Equity Firms and End-Use Industry
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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