The Asia-Pacific probiotics market is expected to register a CAGR of about 7.7% during 2018-2023 (the forecast period). Due to the high adoption of probiotic-based food and beverages, Asia-Pacific is expected to be the leading contributor in the global probiotics market. The bacteria-derived probiotics segment is likely to dominate the market throughout the forecast period, as yeast strains are still under research and testing phase, also, the approvals from the Food and Drug Administration may take time to implement.
Over the past decade, around 500 food and beverage probiotic products have been launched and garnered an exceptional response, in terms of acceptance. Prevention and cure of disorders, such as lactose intolerance and inflammatory bowel disease, are some of the benefits offered by probiotics, with the rising health-consciousness levels and wider access to probiotic dietary supplements being the major factors influencing the growth. The beneficial effects of food, with added live microbes (probiotics) on the human health, are being promoted by health professionals. Probiotic products available in the markets today are usually in the form of fermented milk and yoghurts. However, with an increase in the consumer vegetarianism globally, the demand for vegetarian probiotic products is growing.
Based on application, the market is segmented into functional food and beverages, animal feed, dietary supplements, and specialty nutrients. The dairy segment accounts for a significant growth rate and is expected to continue to grow, registering a CAGR of about 14% during the forecast period. Probiotic yogurts and beverages are ideal healthy snacks, which are widely available in the market. Feed probiotics are used to improve animal weight gain and feed efficiency, and maintain and promote normal health status of domestic animals and fowls. Feed probiotics are used widely by the major mills as feed ingredients for piglets, calves, sows, and fowls.
Though the Asia-Pacific market for probiotics is globally the largest, which accounted for an estimated share of 38% in 2017, the market maturity is expected to curtail growth prospects over the coming years, with other regions taking the lead. In 2017, Japan occupied the largest share of about 45% of the Asia-Pacific probiotics market. However, the growth in the demand for probiotics in Asia-Pacific is likely to be the fastest, especially in China, registering a CAGR of about 13.2% during the forecast period.
- February 2018 - Yakult Danone launched a new version of signature probiotic drink in India. The new formulation contains vitamin D and E, as well as Yakult’s trademark Lactobacillus casei strain Shirota (LcS).
- December 2017 – Royal DSM, a global science-based company active in health, nutrition and materials, acquired BioCare Copenhagen A/S, based in Copenhagen (Denmark). With the acquisition, DSM expanded its offering in gut health ingredients with probiotics, an attractive market segment in nutritional ingredients.
Major Players - American Biologics, CHR Hansen Holdings A/S, Fonterra Cooperative Group, FrieslandCampina, General Mills Inc., FMC Corporation, Morinaga Milk Industry, Nestlé SA, Royal DSM NV, and Yakult Honsha Co Ltd, among others.
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Dynamics
188.8.131.52 Preference for Probiotic Products in Evolving Applications
184.108.40.206 Functional Food and Beverage Growing in Popularity
220.127.116.11 Wider Acceptance and Convenience Offered
18.104.22.168 Effectiveness of Probiotics Comes Under the Scanner
22.214.171.124 Lack of Consumer Awareness
126.96.36.199 Innovation and Customization of Product Based on Needs
3.1.4 Porter's Five Forces Analysis
188.8.131.52 Bargaining Power of Suppliers
184.108.40.206 Bargaining Power of Buyers
220.127.116.11 Threat of New Entrants
18.104.22.168 Threat of Substitute Products and Services
22.214.171.124 Degree of Competition
4. Market Segmentation
4.1 By Application
4.1.1 Animal Feed
4.1.2 Dietary Supplements
4.1.3 Functional Food and Beverages
4.1.4 Specialty Nutrients
4.2 By Ingredient
4.4 By Geography
126.96.36.199 Rest of APAC
5. Competitive Landscape
5.1 Strategy Adopted by Key players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. Company Profiles
6.1 American Biologics
6.2 CHR Hansen Holdings A/S
6.3 Royal DSM NV
6.4 Fonterra Cooperative Group
6.6 General Mills Inc.
6.7 FMC Corporation
6.8 Morinaga Milk Industry
6.9 Nestlé SA
6.10 Yakult Honsha Co. Ltd