The increasing awareness of wellness and health is fueling the psychobiotic supplements market. Psychobiotics regulate neurotransmitters and proteins, including gamma-aminobutyric acid, serotonin, glutamate, and BDNF (brain-derived neurotrophic factor), which act as an important role in regulating cognitive function, neural excitatory-inhibiting balance, mood, memory learning, and processes. This beneficial attribute of psychobiotic acts as an important role in triggering the requirement for the global psychobiotic supplement market.
Key Developments
Manufacturers are discovering new ways to explore the gut-brain axis, as it might help regulate behavioral and mood disorders. Novel applications for psychobiotic are being developed by manufacturers to gain a competitive advantage. Recently, Bened Biomedica collaborated with European health firm Beopanax to supply a new psychobiotic product, PS128 strain, to new regions, claiming that it could induce a range of mental health benefits.
COVID-19 Impact Analysis
The US FDA, in the face of the COVID-19 crisis, declared that it is descaling GMP inspections as well as is forfeiting certain FSMA prerequisites. On the other hand, market players are limiting to limit panic buying and offered a dedicated one-hour shopping window for the vulnerable and elderly. The players are also taking steps to reassure their consumers of its enhanced hygiene controls and inform of novel measures to ascertain customers could get the health products that are higher in demand amid this fast-developing COVID-19 pandemic.
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Key Takeaways of the Market Study
- Based on the application, the market is fragmented into dietary supplements, infant formula, specialty nutrients, nutritional supplements, and food supplements.
- Based on Form, the market is fragmented into tablets, capsules, liquid, and powder.
- In terms of distribution channels, the market is categorized into online retail, specialty stores, supermarkets/hypermarkets, store-based retail, pharmacies & drugstore, and others.
Regional Insights
North America accounts for the highest market share as several health-conscious consumers are growing rapidly. The healthy lifestyle awareness and nutritious food are rising in APAC, it is likely to foresee maximum growth during 2020-2030.
In the US, nutritional supplements directed as psychobiotic supplements are likely to stay dominant throughout the assessment period. The rising inclination towards preventive healthcare care, an extensive product range, and a growing awareness of its use will support the sales of the psychobiotic supplement.
The Asia Pacific is slated to expand at a rapid pace and will see a sturdy growth rate over the assessment period. Expanding population, together with the standard of living and rise in disposable income, is likely to augment regional demand for psychobiotic supplements. Higher demand from nations like China and India will boost market growth.
Competitive Landscape
Market players are focusing on innovating psychobiotic supplements products with new packaging, special diet needs, and forms. Producers are launching gluten-free and vegan psychobiotic supplements because of which the need for psychobiotic supplements is increasing from vegan and health-conscious consumers.
The psychobiotic supplements market is highly competitive and diverse. Market players are increasingly expending on R&D exercises to produce unique and new psychobiotic supplements products.
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