Europe Probiotic Supplements Envisions 4.78% CAGR Surge Up to 2028
Europe Probiotic Supplements Market Research Report: Forecast (2023-2028)
The Europe Probiotic Supplements Market is projected to grow at a CAGR of around 4.78% during the forecast period, 2023-28. The key factor behind the growth is the changing food patterns of consumers, which are associated with an increase in diabetes, liver problems, and other diseases, leading to the growing use of probiotic supplements in food products. Further, an increase in disposable income in countries such as France, and Italy, among others, boosted the growth of the Europe Probiotic Supplement market during the historical period.
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Market Dynamics
Key Driver: Growing Demand for Functional Food & Beverages to Escalate the Market Growth
In the region, due to the high prevalence of obesity, lactose intolerance, and the aging population, the demand for functional foods & beverages has experienced considerable growth during the historical years. In addition, the sales through supermarkets & hypermarkets are primarily augmenting the overall sales of probiotics in the regional countries such as Russia, Germany, and Spain, among others. Furthermore, the rising consumer awareness about the nutritional benefits of probiotic supplements, particularly among lactose intolerance consumers, is adding to the strong market growth.
Moreover, retailers like Sainsbury’s are offering probiotic supplements under their private labeled tags to meet the growing demand for probiotic supplements among consumers in the area as a result of the region’s increased consumption of probiotics. In addition, with the growing population as well as the increase in the demand for probiotic supplements, the manufacturing companies are expanding their operations through acquisition. For instance:
- In 2021, Archer Daniels Midland acquired Deerland Probiotics & Enzymes to expand its health & wellness products, which include probiotics & dietary supplements across the region.
Leading Companies in Europe Probiotic Supplements Market:
-NutraScience Labs
-Probium LLC
-Deerland Enzymes
-Chr. Hansen Holdings
-ProbioFerm
-Danone S.A
-PepsiCo Inc.
-Bio-K Plus International Inc.
-Yakult Honsha Co Ltd
-Daflorn ltd
Segmentation of the Industry
The Europe Probiotic Supplements Market is highly fragmented and bifurcates into the following segmentations:
By End User
-Infant
-Kids
-Adults
–16-35 Years
–36-50 Years
–51-65 Years
–Above 66 Years
By Distribution Channel
-Pharmacies
-Health & Beauty Speciality Stores
-Supermarkets & Hypermarkets
-Convenience Stores
-Online Stores
–Via E-commerce Players
–Supplier Selling Via Own Website
- Of them all, the Online Stores witnessed a considerable market share in the Europe Probiotic Supplements market.
By Diseases
-Digestive Health
–Lactose Intolerance
–Constipation
–Others (Ulcerative Colitis, Colic, etc.)
-Irritable Bowel Syndrome (IBS)
-Oral Disease
-Immunity-based Disease
-Others
–Cardiovascular Diseases
–Respiratory Infections
–Obesity
–Memory/Mood/Relaxing
Regional Landscape
On the geographical front, the Europe Probiotic Supplements Market expands across the following:
By Country
-Germany
-The UK
-France
-Italy
-Spain
-Others
- Of all the countries, Germany has been portraying a noticeable market growth since 2017.
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In conclusion, the Europe Probiotic Supplements Market is anticipated to witness substantial growth, with a projected CAGR of approximately 4.78% during the forecast period from 2023 to 2028. This growth is primarily attributed to shifting consumer dietary patterns, driven by increased incidences of diabetes, liver problems, and other health concerns, leading to a rising demand for probiotic supplements incorporated into food products. Additionally, the surge in disposable income across countries like France and Italy has further propelled market expansion, as observed during the historical period.
The market dynamics are significantly influenced by factors such as the growing demand for functional foods and beverages, particularly due to prevalent health conditions like obesity and lactose intolerance, as well as an aging population. Sales through supermarkets and hypermarkets have played a pivotal role in bolstering the overall market, especially in countries such as Russia, Germany, and Spain. Moreover, heightened consumer awareness regarding the nutritional advantages of probiotic supplements, particularly among lactose intolerant individuals, has contributed to robust market growth.
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