Prebiotics are non-digestible food ingredients that help stimulate the growth and activity of beneficial microorganisms like bacteria and fungi in the gut. They function as food for probiotics and promote a healthy balance of microbes in the intestinal tract. Prebiotics in dietary supplements aid in improving digestion, nutrient absorption, and bowel regularity. They also help reduce risks of certain cancers, cardiovascular diseases, and diabetes. Being natural in origin with no side effects, prebiotics for supplements are gaining widespread acceptance among health-conscious consumers.
The global Prebiotics for Dietary Supplements Market is estimated to be valued at US$ 2430.9 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
The increasing prevalence of gastrointestinal disorders due to sedentary lifestyle and changing dietary patterns has raised awareness about gut health management. More consumers are recognizing the role of prebiotics in maintaining a healthy gut microbiome and seeking dietary supplements with prebiotic ingredients. This growing awareness presents lucrative opportunities for manufacturers to expand their prebiotics product lines for supplements targeted at digestive health. The market is expected to witness high demand for prebiotic supplements aimed at reducing gut inflammation, minimizing risks of bowel cancer, and enhancing immune function during the forecast period.
Porter's Analysis:
Threat of new entrants: Low economies of scale in production and high costs of R&D pose as barriers for new companies. Established brands have established supply chains and customer loyalty.
Bargaining power of buyers: Buyers have moderate to high bargaining power given the availability of substitutes. They can negotiate on price and switch to alternatives easily.
Bargaining power of suppliers: A few companies dominate the supply of prebiotics like inulin and FOS giving them moderate bargaining power over buyers. Suppliers also have to maintain quality standards.
Threat of new substitutes: Alternatives like probiotic supplements, fibre supplements pose a threat. However, prebiotic supplements have benefits over substitutes.
Competitive rivalry: Intense competition among established brands drives higher marketing spends and pressure on prices. Focus on differentiation through proprietary blends and formulations.
SWOT Analysis:
Strengths: Growing health & wellness trend drives demand. Prebiotics support gut and digestive health. Clinical research validates health claims.
Weaknesses: High manufacturing and R&D costs. Complex extraction and refining processes. Storage and shelf-life issues for some prebiotics.
Opportunities: Potential in therapeutics, medical foods and infant formula categories. Scope for combination with probiotics. Growth in Asia Pacific and Latin American markets.
Threats: Intense price competition. Stringent regulations around claims and approvals. Supply constraints for some niche prebiotics. Economic slowdowns impacting discretionary spending.
Key Takeaways:
The global Prebiotics For Dietary Supplements Market Growth is expected to witness high growth over the forecast period led by health trends, aging populations and awareness. The global Prebiotics for Dietary Supplements Market is estimated to be valued at US$ 2430.9 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
North America currently dominates the market benefiting from nutrition awareness, adoption of supplements and concentration of leading market players. However, Asia Pacific is witnessing the fastest gains supported by growing middle class, increasing discretionary spend on wellness and shift towards preventive healthcare in countries like China, India and Japan. North America currently has the largest market share of over 35% owing to increased consumer spending on supplements and probiotic foods. Europe being an established market is growing at a steady rate of around 5-6% annually with Germany and UK being major markets.
Key players operating in the prebiotics for dietary supplements market are Archer Daniels Midland Company, Cargill Inc., DowDuPont Inc., Imcopa Food Ingredients B.V., CHS Inc., Crown Soya Protein Group, Wilmer International Ltd., Foodchem, Kerry Ingredients Inc., Burcon NutraScience Corporation, and others.
For more insights, read- https://www.newsanalyticspro.com/prebiotics-for-dietary-supplements-market-trends-size-and-share-analysis/
