Millennials & Gen-Z Augmenting Probiotic Supplements Market Growth – Exclusive Report by Mordor Intelligence

November 10 22:32 2021
Millennials & Gen-Z Augmenting Probiotic Supplements Market Growth - Exclusive Report by Mordor Intelligence
Mordor Intelligence
The major consumption of probiotic supplements is observed among millennials due to their growing awareness of health and wellness through multi-channel publicity, which influences their consumption patterns to a large extent. Millennials, being technologically advanced, update themselves with the facts related to health and, thereby, try to amend their routines and consumption habits accordingly.

ASEAN Probiotic Supplements Market Overview

The ASEAN probiotic supplements market is forecasted to grow at a CAGR of 11.74% during the forecast period (2021 – 2026). 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 having a positive impact on the growth of the ASEAN probiotic supplements market. The probiotics market has witnessed significant growth due to the increasing demand for health-based products among consumers, especially from the younger generations.

The tablets/capsules segment holds the major share in the market, followed by powders and other products. 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.

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ASEAN Probiotic Supplements Market – Geographical Overview 

Indonesia holds a significant market share in the ASEAN probiotic supplements market

According to World Bank Data, Indonesia’s health expenditure per capita increased from USD 27 in 2004 to USD 112 in 2018, growing at an annual rate of 11.52%. This rise is primarily due to increased demand from the younger population. Indonesians’ standard of living is improving as a result of better-paying jobs that expand the middle class, which spends more on health products, including probiotic supplements. A rising population and greater consumer awareness of health issues, along with technological advancement and fast-paced life of people are leading to change in lifestyle patterns of people. As a result of this upward consumer trend, numerous changes have occurred in the Indonesian probiotic supplement market, including research activities sponsored by probiotic manufacturers, which are positioned to fuel a healthy expansion during the projected period.

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Key Highlights of the ASEAN Probiotic Supplements Market

  • The ASEAN probiotics supplements market enjoys the presence of various global and regional players. The market studied was led by Procter & Gamble, BioGaia, Reckitt Benckiser LLC, Amway Corporation, Blackmores Limited, Nestle SA, and Church & Dwight Co. Inc.
  • In Sep 2021, BioGaia partnered with Abbott to distribute probiotics to medical professionals in Singapore. The two products are Gastrus and Protectis, with the latter being the company’s most popular product targeted at gastrointestinal problems in infants and children.

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List of Key Players in the ASEAN Probiotic Supplements Market

  • Bio Gaia
  • Reckitt Benckiser LLC
  • Procter & Gamble
  • Amway Corporation
  • Church & Dwight Co. Inc.
  • Pharma Care Laboratories Pty Ltd
  • Nature’s Way Products LLC
  • GNC Holdings LLC
  • Blackmores Probiotics
  • Nestle
  • Guangzhou Synthgensys Biotechnology Co. Ltd.

*List Not Exhaustive 

Mordor Intelligence has segmented the global ASEAN probiotic supplements market on the basis of product form, distribution channel, and geography:

  • Product Form (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Tablets/Capsules
    • Powders
    • Liquids
    • Other Products
  • Distribution Channel (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Supermarkets/Hypermarkets
    • Pharmacies & Drug Store
    • Specialty Stores
    • Online Stores
  • Geography (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Indonesia
    • Malaysia
    • Thailand
    • Vietnam
    • Singapore
    • Philippines
    • Rest of ASEAN

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