APAC Fermented Ingredient Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 6.45 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
APAC Fermented Ingredient Market Analysis
The Asia-Pacific fermented ingredient market is forecasted to witness a CAGR of 6.45% during the forecast period (2020 - 2025).
- 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.
APAC Fermented Ingredient Market Trends
This section covers the major market trends shaping the APAC Fermented Ingredient Market according to our research experts:
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.
APAC Fermented Ingredient Industry Overview
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.
APAC Fermented Ingredient Market Leaders
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Ajinomoto Co., Inc.
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Chr. Hansen Holding A/S
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Evonik Nutrition & Care GmbH
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Lonza Group Ltd.
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DuPont de Nemours, Inc.
*Disclaimer: Major Players sorted in no particular order
APAC Fermented Ingredient Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables & Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product Type
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5.1.1 Amino Acids
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5.1.2 Organic Acids
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5.1.3 Polymers
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5.1.4 Vitamins
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5.1.5 Industrial Enzymes
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5.1.6 Antibiotics
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5.2 By Form
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5.2.1 Dry
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5.2.2 Liquid
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5.3 By Application
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5.3.1 Food and Beverages
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5.3.2 Feed
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5.3.3 Pharmaceutical
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5.3.4 Industrial Use
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5.3.5 Other
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5.4 By Geography
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5.4.1 India
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5.4.2 China
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5.4.3 Japan
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5.4.4 Australia
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5.4.5 South Korea
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5.4.6 Reso of Asia-Pacific
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 DuPont de Nemours, Inc.
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6.3.2 Ajinomoto Co., Inc.
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6.3.3 Chr. Hansen Holding A/S
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6.3.4 Evonik Nutrition & Care GmbH
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6.3.5 Foodchem Group
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6.3.6 Cargill, Incorporated
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6.3.7 BASF SE
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6.3.8 XIAMEN KINGDOMWAY GROUP
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6.3.9 KYOWA HAKKO BIO CO.,LTD
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6.3.10 Lonza Group Ltd.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Fermented Ingredient Industry Segmentation
The Asia-Pacifc fermented ingredients market is segmented by type, form, application, and geography. On the basis of type, the market is segmented into amino acids, organic acids, polymers, vitamins, industrial enzymes, and antibiotics. On the basis of form, the market is segmented into dry and liquid. On the basis of application, the market is segmented into food and beverages, feed, pharmaceutical, industrial use, and other applications. Additionally, the study provides an analysis of the fermented ingredients market in the emerging and established markets across the Asia-Pacific.
By Product Type | |
Amino Acids | |
Organic Acids | |
Polymers | |
Vitamins | |
Industrial Enzymes | |
Antibiotics |
By Form | |
Dry | |
Liquid |
By Application | |
Food and Beverages | |
Feed | |
Pharmaceutical | |
Industrial Use | |
Other |
By Geography | |
India | |
China | |
Japan | |
Australia | |
South Korea | |
Reso of Asia-Pacific |
APAC Fermented Ingredient Market Research FAQs
What is the current Asia-Pacific Fermented Ingredient Market size?
The Asia-Pacific Fermented Ingredient Market is projected to register a CAGR of 6.45% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Fermented Ingredient Market?
Ajinomoto Co., Inc., Chr. Hansen Holding A/S, Evonik Nutrition & Care GmbH , Lonza Group Ltd. and DuPont de Nemours, Inc. are the major companies operating in the Asia-Pacific Fermented Ingredient Market.
What years does this Asia-Pacific Fermented Ingredient Market cover?
The report covers the Asia-Pacific Fermented Ingredient Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Fermented Ingredient Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Fermented Ingredient Industry Report
Statistics for the 2024 Asia-Pacific Fermented Ingredient market share, size and revenue growth rate, created by ÌÇÐÄvlog´«Ã½â„¢ Industry Reports. Asia-Pacific Fermented Ingredient analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.