Vietnam Probiotics Market is expected to grow at a compound annual growth rate of 13.33% over the forecast period to reach a market size of US$165.479 million in 2027, up from US$68.927 million in 2020.
Vietnam’s economy is one of the fastest-growing economies in Asia, with Gross Domestic Product (GDP) growth in 2020 with an annual change of 2.9 percent. This has allowed the country to join the ranks of the world’s lower-middle-income economies. Further, modern retail channels are expanding in response to growing consumer demand. In 2021, Revenue from consumer goods retail sales increased by 9.8 percent year on year. Moreover, strong economic growth, increasing foreign investment, benefits from free trade agreements (FTAs), a growing middle class with higher disposable income, rapid urbanization, and heightened concerns about hygiene and food safety are major factors fuelling sustainable growth [Source: USDA]. This also paves the way for various probiotics integrated beverages to be made available to Vietnamese consumers. To this end, in 2019, Kirin has expanded the availability of its iMUSE products for the first time beyond Japan, with the launch of an afunctional probiotic beverage in Vietnam. The iMUSE yogurt and lemon-flavoured drink contain 100 billion Lactococcus lactis strain plasma, which is reported to have immune health benefits, according to Kirin. It is reportedly made available to Vietnamese consumers in supermarkets, convenience stores, school cafeterias, and school stores. In the same year, dairy giant Vinamilk launched Vinamilk Yoko Gold, a premium milk product for children made from ingredients that include BB-12 probiotics imported from Denmark to ensure the development of children’s digestive systems, brains, bodies, and bones.
Probiotics are beneficial bacteria and play a key role in improving health and cutting the odds of contracting digestive diseases. It is suggested that the majority of the Vietnamese population suffers from gastritis.
A large proportion of Vietnamese people are currently suffering from digestive diseases as a result of a loss of a healthy balance of beneficial bacteria in their intestinal system. Foods may still contain antibiotic and chemical residues, which pose a threat to beneficial spore agents in the intestine and cause intestinal diseases. As a result, spore probiotics are thought to be an effective way to help the body build resistance to antibiotic abuse. However, more in-depth research on spore probiotics is needed to expand their functions and find new applications in treating not only gastrointestinal diseases but also respiratory infections, ear infections, dermatitis, and gynaecological inflammation. This will then make it possible to gradually replace antibiotics. As a result, on May 18, 2022, the world's first Spobiotic Research Center will be established, LiveSpo Global JSC hopes to be a driving force in getting more scientists interested in and developing Spore Probiotics as a solution to an antibiotic-free future. Search for more potent probiotic alternatives for human consumption, such a breakthrough in research also acts as fuel for the furtherance of the Vietnam probiotic market’s growth. Further, with regards to livestock, the reduced demand for pork after and the temporary border closure with China in February 2020 due to COVID-19 have made local pork prices profitable, which is motivating farmers to restart their businesses and commercial farms to rebuild their pig herds using good biosecurity practices in light of the possibility of an ASF recurrence. Furthermore, beef, poultry, and aquaculture production increased by 4.4 percent, 16.5 percent, and 6.5 percent, respectively, in 2019 compared to 2018 [Source: USDA]. Moreover, in recent times the need to keep the aquatic animal’s gut microbiota healthy by applying active probiotics for microbiome moderation and, in the long run, to achieve shrimp production without the use of antibiotics has also gained a lot of traction. This is a great opportunity that is expected to allow the Vietnamese probiotics market to enter areas in the animal feed sector that will eventually contribute to healthy growth during the forecast period.
Recent development and expansions
The Covid-19 outbreak has boosted the growth of the Vietnam probiotic industry in February 2020. Probiotics can treat drug-associated diarrhoea and gastrointestinal tract infections, as well as infections at other sites such as the respiratory tract and sepsis. Probiotics' role as an immune booster in controlling this epidemic. Because of this, people in Vietnam have chosen to consume probiotic products; additionally, existing Vietnamese companies are heavily investing in probiotic product research and development.
1.1. Market Overview
1.2. Covid 19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Vietnam Probiotics Market, By Application
5.2. Functional Food and Beverages
5.3. Dietary Supplements
5.4. Animal Feed
6. Vietnam Probiotics Market, By End-User
7. Vietnam Probiotics Market, By Function
7.3. Preventative Healthcare
8. Vietnam Probiotics Market, By Type
8.5. Spore Formers
9. Vietnam Probiotics Market, By Form
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.2. PAN JSC Food
11.4. Kirin Group
PAN JSC Food
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