BizCommunity - 25 Oct 2022
As global and South African consumers become increasingly aware of the many benefits associated with probiotics, there has been a growing demand for probiotic products. This has now expanded to the children's and infants' market, as parents increasingly seek to improve their children's health, by providing them with probiotics. Moreover, the health benefits of probiotics for children have become a growing research and media focus area, which has resulted in both global and local players launching probiotic products specifically designed for children or infants, to meet this growing consumer demand and appeal to the parent target market.
Insight Survey’s latest South African Probiotics Industry Landscape Report 2022 carefully uncovers the global and local probiotics market (including the impact of Covid-19), based on the latest intelligence and research. It describes the latest global and local market trends, innovation and technology, drivers, and challenges, to present an objective insight into the South African probiotics market environment and its future.
Globally, the probiotic dietary supplements market is expected to experience continued growth over the next few years, with the total market value projected to reach approximately US$8.5 billion in 2026, from US$6.4 billion in 2022. In particular, the market is predicted to achieve a compound annual growth rate (CAGR) of 7.5%, over the 2022 to 2026 forecast period.
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