The probiotic supplements market is expected to grow from $6.9B in 2021 to $11.529B by 2028, according to a study by Research & Markets. It is estimated to grow at a CAGR of 7.6% from 2022 to 2028.
Probiotic supplements are live microorganisms available in the form of powders, tablets, capsules, etc.; these supplements are consumed to restore or improve gut flora. Health has become a top priority for consumers across the world, leading to a boom in demand for functional supplements.
Consumers are willing to pay more for products that offer enhanced health benefits. There has been a massive demand for plant-based and non-GMO (containing no genetically modified organisms/components) probiotic supplements. In addition, the growing trend of plant-based and non-GMO products is rapidly evolving worldwide, which has compelled probiotic supplement manufacturers to develop plant-based supplements. Veganism has gained significant momentum in recent years. Consumers are highly inclined toward plant-based products as they perceive them to be healthier than conventional products. Thus, due to the flourishing trend of veganism, the manufacturers of dietary supplements such as probiotic supplements are launching plant-based products.