The probiotic dietary supplements market size will grow from $6.4B in 2022 to $6.8Bin 2023 at a compound annual growth rate (CAGR) of more than 7%. The probiotic dietary supplements market size is then expected to grow to $9.4B in 2027 at a CAGR of more than 8%, according to a report from the Business Research Company.
The market is fairly concentrated, with a few large players. One strategy these players use is focusing on delivering tailored health benefits through the launch of new products. An example of this can be seen in the strategy of Reckitt Benckiser Group. For instance, in September 2020, Reckitt launched Bodi-Ome, a first-of-its-kind microbiome brand. The Bodi-Ome offers a line of five probiotic dietary supplements that uses targeted and clinically-proven probiotic strains for supporting digestive and immune health, vaginal health, heart health, and mood.
Companies are also forming strategic collaborations and partnerships. For instance, in September 2020, P&G partnered with DuPont for developing next-generation probiotics (NGPs), which will initially be used in dietary supplements.