Report : Asia Pacific Probiotic Supplements Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Capsules and Tablets, Gummies, Powder, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 9.3% CAGR, the Asia Pacific Probiotic Supplements Market is speculated to be worth US$ 3,776.63 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific probiotic supplements market was valued at US$ 2,212.18 million in 2022 and is expected to reach US$ 3,776.63 million by 2028, registering a CAGR of 9.3% from 2022 to 2028. Increasing consumer focus on preventive health and rising demand for probiotic supplements for women’s health are the critical factors attributed to the Asia Pacific probiotic supplements market expansion.
Over the past few years, awareness regarding health and nutrition has increased significantly. Due to a busy lifestyle and hectic work schedules, people cannot concentrate on their health, fitness, and regular diet. This has led to an increase in the prevalence of various diseases such as obesity, diabetes, high blood pressure, skin problems, and digestive issues. Therefore, people are increasingly focusing on preventive health and preferring dietary supplements that provide enhanced nutritional benefits. Probiotic supplements support healthy body systems from mouth to gut and help control harmful microorganisms. The demand for probiotic-infused dietary supplements has also increased significantly in recent years due to rising population of health-conscious people and increasing prevalence of digestive diseases. Thus, people are getting more aware of their digestive health. After the onset of the COVID-19 pandemic, consumers are prioritizing their health and actively searching for healthy alternatives and fitness activities to prevent lifestyle-related illnesses. People have started preferring immunity-boosting products such as probiotic supplements. Thus, with the rising consumer focus on preventive health, the demand for probiotic supplements that offer nutritional benefits is also increasing. Thus, the above factors are expected to significantly drive the Asia Pacific probiotic supplements market in the coming years.
On the contrary, complexities and variations in regulations hurdles the growth of Asia Pacific probiotic supplements market.
Based on product type, the Asia Pacific probiotic supplements market is sub segmented into capsules and tablets, gummies, powder, and others. The capsules and tablets segment held 51.5% market share in 2022, amassing US$ 1,139.69 million. It is projected to garner US$ 1,908.46 million by 2028 to expand at 9.0% CAGR during 2022–2028.
Based on distribution channel, the Asia Pacific probiotic supplements market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores held 53.5% market share in 2022, amassing US$ 1,183.30 million. It is projected to garner US$ 2,044.33 million by 2028 to expand at 9.5% CAGR during 2022–2028.
Based on country, the Asia Pacific probiotic supplements market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 31.3% market share in 2022. It was assessed at US$ 692.26 million in 2022 and is likely to hit US$ 1167.72 million by 2028, exhibiting a CAGR of 9.1% during the forecast period.
Key players dominating the Asia Pacific probiotic supplements market are Bayer AG; BioGaia AB; Church & Dwight Co., Inc.; GNC Holdings, LLC; Nature's Bounty; Nestlé S.A.; NOW Foods; and SFI Healthamong others.
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