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.
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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