ASEAN Probiotic Supplements Market Size

ASEAN Probiotic Supplements Market Analysis

The ASEAN Probiotic Supplements Market size is expected to grow from USD 84.24 billion in 2023 to USD 146.75 billion by 2028, at a CAGR of 11.74% during the forecast period (2023-2028).

With the sudden impact of COVID-19, the market has witnessed a surge in demand for products that provide immune health, which has impacted the probiotic supplements market positively in the region. Owing to such factors there are significant product launches to cater to the growing demand. In the ASEAN Region, Countries like Singapore, Malaysia have surged in the highest number of new food, drinks, and supplements that bear immune system-boosting claims launched in the last five months, followed by Indonesia. For instance, A Singapore-based online customized supplement firm stated that the COVID-19 pandemic has helped consumers overcome skepticism to subscription services in the Nutra space, after recording a significant Year-on-Year boost in sales. Consumers are continuing to browse for probiotics products, which offers opportunities for retailers to adopt a strategy that matches consumers' current needs by showcasing products that are more essential to their needs.

Over the medium term, the probiotics market has witnessed significant growth due to the increasing demand for health-based products among consumers, especially from the younger generations.Additionally, due to the large retail space and convenient conventional services, supermarkets/hypermarkets remain one of the most preferred points of sale for probiotics. In contrast, online retail stores are expected to gain prominence in the market in the coming years. The growth has been fueled by the exponential performance of probiotics owing to heavy demand from Gen-Z and millennial consumers, coupled with the advancements in probiotic technology.

Probiotic supplements are moving beyond digestive health to immunity, feminine health, oral health, skin health, weight control and diabetes, cognitive health, sports endurance, gut-brain axis, gut-muscle axis, and cardiovascular health and thus, the constant innovation in formulation is also driving the market in the region..Formulations are evolving to include Kosher and Halal probiotics, time-release options, and combinations. In addition to strain-specific benefits, multi-strain formulations and their advantages are highly dependent on the final blend and the clinical research associated with that multi-strain formulation. For instance Bio-Kult is a unique multi-strain live bacteria supplement with 14 strains of live bacteria, which can help a more diverse range of digestive disorders. Its powerful formulation targets the digestive tract, and it can be stored at room temperature without the need for refrigeration.