Report : Asia Pacific Probiotic Ingredients Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Lactobacillus, Bifidobacterium, and Others) and Application (Functional Food & Beverages, Pharmaceuticals & Nutraceuticals, Animal Feeds, and Others)
At 9.0% CAGR, the Asia Pacific Probiotic Ingredients Market is speculated to be worth US$ 2,072.09 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC probiotic ingredients market was valued at US$ 1,236.95 million in 2022 and is expected to reach US$ 2,072.09 million by 2028, registering an annual growth rate of 9.0% from 2022 to 2028. Rising consumer focus on preventive health and increasing demand for probiotic-fortified food & beverages.
Probiotic-infused products are gaining huge popularity across the APAC due to their significant health benefits. Manufacturers across various industries are making notable investments in product innovation to attract many consumers. Further, yogurt is gaining huge demand, and manufacturers are continuously introducing various products, thereby fueling the market growth of probiotics. For instance, Jarrow Formula launched probiotic gummy supplements in three variations: probiotic duo gummies, probiotic and prebiotic gummies, and probiotic and immune gummies. They are pectin-based, non-GMO (Genetically Modified Organism), gluten-free, and vegetarian. They contain no artificial flavors, sweeteners, colors, or preservatives that address various consumer requirements. Moreover, with the increasing demand for beverages, manufacturers are developing products that address the local needs of consumers. For instance, In November 2021, Lifeway Foods, Inc. introduced Lifeway Oat, dairy-free cultured oat milk that is organic, gluten-free, and contains 10 active live probiotic cultures with no dairy, artificial ingredients, GMOs, or stabilizers and emulsifiers such as gums and oils. Such product innovations help companies enter the domestic markets and offer a competitive edge in international markets. This is expected to drive the market during the forecast period.
On the contrary, regulatory problems hurdles the growth of APAC probiotic ingredients market.
Based on type, the APAC probiotic ingredients market is divided into lactobacillus, Bifidobacterium, and others. The lactobacillus probiotic ingredients segment held 61.7% market share in 2022, amassing US$ 762.82 million. It is projected to garner US$ 1,260.84 million by 2028 to expand at 8.7% CAGR during 2022–2028.
Based on application type, the APAC probiotic ingredients market is categorized into functional food & beverages, pharmaceuticals & nutraceuticals, animal feed, and others. The functional food & beverages segment held 76.2% market share in 2022, amassing US$ 942.32 million. It is projected to garner US$ 1,553.01 million by 2028 to expand at 8.7% CAGR during 2022–2028.
Based on country, the APAC probiotic ingredients market has been categorized into the China, Japan, India, Australia, South Korea, and Rest of APAC. Our regional analysis states that Rest of APAC captured 38.7% market share in 2022. It was assessed at US$ 479.11 million in 2022 and is likely to hit US$ 767.87 million by 2028, exhibiting a CAGR of 8.2% during the forecast period.
Key players dominating the APACprobiotic ingredients market are ADM; Novozymes A/S; Chr. Hansen Holding A/S; Kerry Group plc; Lallemand Inc; IFF Nutrition & Biosciences; AngelYeast Co., Ltd; Probiotical S.p.A; Adisseo; and Probi among others.
- In Jan 2022, Danisco Animal Nutrition further expands portfolio in ruminants.
- In Sept 2020, Probiotical S.p.A. launches gut-brain-axis products for the whole family!
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