Malaysian Probiotics Market is expected to grow at a compound annual growth rate of 6.03% over the forecast period.Malaysia’s food retail industry is driven by an expanding economy and increased consumer spending. Although the country’s halal requirements complicate trade for certain products, Malaysia’s trade and regulatory policies are relatively open and provide opportunities for a broad range of imported, consumer-oriented, food & beverage products. Malaysia’s total agricultural product imports in 2018 reached nearly USD 18.5 billion. Further, Malaysia’s retail sector is rapidly developing, and high-end/premium grocery stores are increasingly popular. Total sales for the sector in 2018 reached USD 26 billion. The Malaysian food processing industry accounts for 12% of the country’s manufacturing output and is growing at a pace of roughly three percent per year. Moreover, many Malaysian supermarkets are now offering in-store dining facilities where customers have the option to purchase products from the store and have them prepared and served on-site.Further, as of 2019 The Malaysian hotel, restaurant, and institutional (HRI) industry is one of the fastest-growing sectors in the country and is largely driven by robust tourism and increased consumer spending [Source: USDA]. In view of the above, the total food and beverage expenditure borne by consumers recorded by the tourism sector in 2019 was to the tune of RM11,457.1 million, which accounted for 13.3% of the share of total expenditures [Government of Malaysia]. In addition to the increasing inclination to sample food and beverage the health and wellness trends that were also increasingly prevalent during 2019[Source: USDA]. This is further exemplified by anincrease in preference for functional foods and beverages that are fueled by demand for digestive health benefits, and a high level of awareness of probiotic benefits.
In light of the above, there has been considerable development in recent times as far as market players of probiotics for human consumption is concerned, which reaffirms the health growth estimation of the Malaysia probiotic market during the forecast period.As of February 2020, it was reported that HEY YOGURT a local Australian brand under WK Holdings Limited, will commence its expansion plans by initially opening 100 shops in 2020 with shops in Kuala Lumpur, Malacca and Johor in Malaysia are already underway. Further, the new year 2020 of the Malaysian probiotic market started with Nestlé’s new and improved NANKID OPTIPRO®. It is the latest breakthrough in child nutrition and is scientifically-formulated with a “hundred million probiotics”. It also contains a new revolutionary ingredient – 2’-FL Oligosaccharide, a type of carbohydrate derived from lactose to help improve children’s gut function. Moreover, according to OECD-FAO Agricultural Outlook 2019-2028, Malaysian meat production, among others was projected to be 2483 KtCwe and the consumption to be 2772KtCwe, thus to maintain a sustainable livestock farming there is great potential for probiotics to be used in animal feed thus partially contributing to the Malaysia probiotic market growth during the forecast period.
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