Asia-Pacific Probiotics Market- Growth, Trends, and Forecast (2019 - 2024)

Asia Pacific probiotic market is segmented By Application into Functional Food and Beverage and Animal Feed; By Distribution Channel into Supermarkets/ Hypermarkets, Pharmacies/Health Stores, Convenience Stores, and Others & Geography

Market Snapshot

APAC probiotic
Study Period:

2019-2024

Base Year:

2018

CAGR:

9.6%

Largest Market:

Japan

Key Players:

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Market Overview

The  Asia Pacific probiotic market forecasted to reach USD 33.04 billion by 2024 growing at a CAGR of 9.6%  during the forecast period (2019 - 2024).

  • The Asia Pacific probiotic market is driven by robust demand for health-based products, like probiotics, among consumers, especially the younger generations. Probiotics are part of functional foods and beverages and are known for improving gut functionality, along with other benefits, including immunity boost and so on.
  • Due to the high cultural acceptance of improving health through particular ingredients in food and drink like probiotics, there is high acceptance for these products all over the Asia-Pacific region. The market has had experienced increased innovation and customization of products based on requirement and effective communication across age groups. 

Scope of the Report

The type of probiotics present in the Asian market namely Functional Food and Beverage and Animal Feed. The probiotic products are made available to the consumers through various distribution channels which include Supermarkets/ Hypermarkets, Pharmacies/Health Stores, Convenience Stores, and others.  The market is also studied for various Asia Pacific countries like China, Japan, India, South Korea, Australia and the rest of Asian countries.

By Product Type
Functional Food and Beverage
Dietary Supplement
Animal Feed
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Pharmacies And Drug Stores
Online Retail Stores
Others
Geography
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific

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Key Market Trends

Japan Holds a Prominent Share in the Market

According to the Japanese tradition, development of probiotic ingredients and finished products are based on scientific proofs and supported by demonstrated Japanese health requirements. Also, Japanese consumers have had been very conscious for replenishing the bacterial flora in their gut on a regular basis and perceive probiotic bacteria to be the best solution, which is strongly driving the probiotics market in the country. Notably, the countries home brand Yakult is so prevalent in the country that it is served in school lunches and delivered to homes by Yakult ladies and thus augmenting its growth in the country.

APAC, japan pro

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Convenience Store is the Fastest Growing Segment

The convenience store segment is experiencing above-average growth, supported by an increasing store count and a business model that is well suited to address consumers’ on-the-go lifestyles. Many convenience stores stay open for longer hours than traditional retail stores, which gives more time, in the day, for the company’s product to be sold and also for last-minute purchases to be made. Convenience stores are the most preferred sales channel by consumers in most of the developing countries as they offer great services and competitive prices. The consumer demand for healthier food and beverage options is leading to a growth of the market for probiotics through this channel.

apac probiotic, convenince stores

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Competitive Landscape

Probiotic foods are currently dominated by dairy products, such as fermented milk drinks, probiotic yogurts, and probiotic yogurt drinks. The market’s biggest players include Yakult and Danone, followed by Morinaga and Nestlé. The bigger players have further consolidated their positions in recent years. The launch of new innovative products in the market is one of the major strategy adopted by the players in the market so as to expand their product portfolio as well as consumer base

Major Players

  1. PepsiCo, Inc.
  2. Danone S.A.
  3. Yakult Honsha Co. Ltd
  4. Nestle SA
  5. Bio-k Plus International

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Functional Food and Beverage

      2. 5.1.2 Dietary Supplement

      3. 5.1.3 Animal Feed

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Pharmacies And Drug Stores

      4. 5.2.4 Online Retail Stores

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 China

      2. 5.3.2 Japan

      3. 5.3.3 India

      4. 5.3.4 South Korea

      5. 5.3.5 Australia

      6. 5.3.6 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Nestle SA

      2. 6.4.2 Groupe Danone

      3. 6.4.3 PepsiCo Inc.

      4. 6.4.4 Yakult Honsha Co. Ltd

      5. 6.4.5 Cell Biotech

      6. 6.4.6 BIO-K PLUS INTERNATIONAL

      7. 6.4.7 Next Foods

      8. 6.4.8 Anand Milk Union Limited

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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