LONDON–(BUSINESS WIRE)–Technavio’s latest market research report on the global probiotic dietary supplements market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global probiotic dietary supplements market is expected to grow at a CAGR of above 8% during the forecast period, owing to rising awareness of the benefits of probiotic supplements. Moreover, with the increasing health-consciousness, consumers are conscious about their snacking habits and prefer to consume healthy snacks.
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The top three emerging market trends driving the global probiotic dietary supplements market according to Technavio research analysts are:
- Growing demand for weight management
- Increasing investments in R&D
- Rise in promotional and marketing initiatives
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Growing demand for weight management
Nowadays, consumers are conscious about their snacking habits and are following healthy snacking. Healthy snacking helps in the weight-loss plan and simultaneously, satisfies hunger while supplying the vitamins and nutrients needed by the body. In 2016, North America was the largest market for weight loss management supplements. Most of the revenue was derived from meal replacement products and weight-loss supplements and it accounted for more than one-third of the sales.
According to Manjunath Reddy, a lead analyst at Technavio for food “The rise in obesity rates has led to weight management becoming increasingly popular. With focus on satiety, calorie-burning, and fat-burning ingredient properties, weight management has become one of the most significant food trends. The growing demand for weight management is expected to drive the global probiotic dietary supplements market during the forecast period.”
Increasing investments in R&D
R&D is a critical part of the global probiotics market, for the development of new products, strains, applications, and technology. Studies pertaining to microencapsulation and probiotic strains that would withstand temperature fluctuations are constantly being undertaken. Companies such as Yakult and Danone have increased their R&D expenditure by 4% and 10% respectively, from 2015 to 2016. These investments in R&D is expected to increase during the forecast period.
Rise in promotional and marketing initiatives
The recent trends that are influencing the market are the increasing promotional and marketing initiatives by vendors of dietary supplements. The outcome has been positive for such initiatives, which have been marketed extensively by vendors through various campaigns. Market operations of the major players are impacted by intense competition and rapid technological advancements.
“To attract health-conscious people, manufacturers of other nutritional products, such as dietary supplements and sports nutrition product manufacturers, have been marketing their products based on health claims. Such marketing and promotional activities will help in the growth of the market,” says Manjunath.
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