The Asia-Pacific fermented ingredient market is forecasted to witness a CAGR of 6.45% during the forecast period (2020 - 2025).
Key Market Trends
Increasing Application of Vitamins in the Southern Asian Countries
There has been a considerable shift in the lifestyles and diet habits of people over the past two decades, particularly in the South Asian Region. Urbanization and consumerism drove this shift, leading to a rapid rise in the consumption of artificial and synthetic food products, which has resulted in an increased incidence of lifestyle diseases. Thus, people are becoming aware of these problems and gradually moving toward functional foods and beverages enriched with vitamins and other minerals, which are promoted as beneficial basic nutrition. These products are reported to provide optimal nutrition and reduce the risk of disease occurrence. Thus, increasing the market for fermented ingredients in the country.
Moreover, various government initiatives are being taken, in order to increase the consumption of fortified food and beverages, especially in developing countries, like China and India, thereby driving the market further. For instance:
Increasing Preference for Fermented Food and Beverage in the Region
The popularity of packaged fermented drinks remains attributed to its perceived health benefits is increasing the application of fermented ingredients in the Asia-Pacific region. For instance, enriched with organic acids, kombucha exhibits a significant antimicrobial activity and may be utilized for many therapeutic applications, which is expected to boost the market growth further in countries like China. Moreover, fermented products, like Kombucha (fermented green tea, black tea), have a long history in the country, popularly known for their detoxifying and energizing properties.
In India, the fermented foods are largely consumed by the local population, not just as a diet but as traditional medicine too. Many of the foods were observed to have beneficial effects during ailment by the local people and they are used as a special diet or medicine, which is driving the demand of fermented food ingredients in the country.
Competitive Landscape
The Asia-Pacific fermented ingredient market is a competitive market, worldwide. Nonetheless, the market exhibits a strong presence of global key players, such as DuPont, Ajinomoto Co., Inc., and Chr. Hansen Holding A/S alongside other domestic producers such as KYOWA HAKKO BIO CO., LTD., and XIAMEN KINGDOMWAY GROUP
Leading companies in China are entering into joint ventures, and partnership as a key strategy to maintain the leading position in the vitamin A market, thereby also in the fermented ingredient market. For an instance, the Xiamen Kingdomway Group announced its joint venture with iHerb Inc., which is a global food retailer of vitamins, minerals, VMS, and personal care products, by buying a minority share of 4.8%. This in turn, helped the company in forming a stronger bond with the overseas business system in the vitamin market.
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- Consumer inclination towards the use of fermented food and ingredients is increasing across the Asia-Pacific due to their benefits to the human digestive system, further helping in increasing immunity and brain functions. The source of the gut-healing properties of fermented foods is probiotics, or good bacteria, which is found in products such as kombucha, sauerkraut, kimchi, kefir, and pickles.
- Therefore, the size of the market studied is expected to grow during the forecast period, owing to the demand for functional and nutritionally enriched processed food products and the prevalence of vitamin and other mineral deficiencies, along with feed fortification, due to the rise in global meat and dairy product consumption.
Key Market Trends
Increasing Application of Vitamins in the Southern Asian Countries
There has been a considerable shift in the lifestyles and diet habits of people over the past two decades, particularly in the South Asian Region. Urbanization and consumerism drove this shift, leading to a rapid rise in the consumption of artificial and synthetic food products, which has resulted in an increased incidence of lifestyle diseases. Thus, people are becoming aware of these problems and gradually moving toward functional foods and beverages enriched with vitamins and other minerals, which are promoted as beneficial basic nutrition. These products are reported to provide optimal nutrition and reduce the risk of disease occurrence. Thus, increasing the market for fermented ingredients in the country.
Moreover, various government initiatives are being taken, in order to increase the consumption of fortified food and beverages, especially in developing countries, like China and India, thereby driving the market further. For instance:
- Promotion of fortified foods by China’s Ministry of Health, coupled with growing health concerns related to age, myopia in adults, and other diseases, is expected to drive the market studied.
- Similarly, the Food and Agricultural Organization (FAO) and World Health Organization (WHO) have identified food fortification as one of the strategies to reduce the prevalence of malnutrition, particularly in the underdeveloped countries.
Increasing Preference for Fermented Food and Beverage in the Region
The popularity of packaged fermented drinks remains attributed to its perceived health benefits is increasing the application of fermented ingredients in the Asia-Pacific region. For instance, enriched with organic acids, kombucha exhibits a significant antimicrobial activity and may be utilized for many therapeutic applications, which is expected to boost the market growth further in countries like China. Moreover, fermented products, like Kombucha (fermented green tea, black tea), have a long history in the country, popularly known for their detoxifying and energizing properties.
In India, the fermented foods are largely consumed by the local population, not just as a diet but as traditional medicine too. Many of the foods were observed to have beneficial effects during ailment by the local people and they are used as a special diet or medicine, which is driving the demand of fermented food ingredients in the country.
Competitive Landscape
The Asia-Pacific fermented ingredient market is a competitive market, worldwide. Nonetheless, the market exhibits a strong presence of global key players, such as DuPont, Ajinomoto Co., Inc., and Chr. Hansen Holding A/S alongside other domestic producers such as KYOWA HAKKO BIO CO., LTD., and XIAMEN KINGDOMWAY GROUP
Leading companies in China are entering into joint ventures, and partnership as a key strategy to maintain the leading position in the vitamin A market, thereby also in the fermented ingredient market. For an instance, the Xiamen Kingdomway Group announced its joint venture with iHerb Inc., which is a global food retailer of vitamins, minerals, VMS, and personal care products, by buying a minority share of 4.8%. This in turn, helped the company in forming a stronger bond with the overseas business system in the vitamin market.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- DuPont de Nemours, Inc.
- Ajinomoto Co., Inc.
- Chr. Hansen Holding A/S
- Evonik Nutrition & Care GmbH
- Foodchem Group
- Cargill, Incorporated
- BASF SE
- XIAMEN KINGDOMWAY GROUP
- KYOWA HAKKO BIO CO.,LTD
- Lonza Group Ltd.
Methodology
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