Japan Probiotics Market - Growth, Trends and Forecasts (2019 - 2024)
The Japan probiotics market is forecasted to reach USD 11.23 billion by 2024 growing at a CAGR of 8.6% during the forecast period (2019 - 2024).
The probiotic market in Japan offers different types of products such as functional food and beverage, dietary supplement and animal feed. The probiotic products are made available to the consumers through various distribution channels such as supermarkets/ hypermarkets, specialty stores, convenience stores, online retail stores, vending machines, variety stores and other distribution channels.
High Consumption Rate of Probiotics in the Country
According to the Japanese tradition, development of probiotic ingredients and finished products are based on scientific proofs and supported by demonstrated Japanese health requirements. Japanese consumers have had been very conscious for replenishing the bacterial flora in their gut on a regular basis and perceive probiotic bacteria to be the best solution, which is further driving the probiotics market in the country.Probiotic yogurts and beverages are widely available and are ideal healthy snacks for busy Japanese workers. Japan is one of the leaders in the probiotics market in terms of revenue across the globe, especially in the Asia Pacific region.
The Prevalence of Geriatric Population in Japan
The prevalence of geriatric population in the country is strongly driving the sales of dietary supplements followed by functional foods and beverages. Japan holds the largest elderly population in the world followed by Italy, Portugal, and Germany. Prevention and cure of lactose intolerance and inflammatory bowel disease are some of the benefits offered by probiotics, with rising health-consciousness levels and wider access to probiotic dietary supplements. Thus dietary probiotics supplements are one of the fastest growing segments in the country.
The probiotic industry in Japan is a fragmented market due to the presence of both local as well as major players. The country has one of the largest dairies, such as Yakult Honsha, Meiji, and Morinaga, which have been continuously seeking to expand their presence in countries like India and the United States; particularly owing to saturation in the overall Japanese functional beverage market. Danone holds a 20% interest in Yakult's equity, the number one brand for probiotics in Japan and Asia as a whole, and this partnership has resulted in increasing both the companies' market share. Yakult holds a strong market position in Japan and is currently expanding its presence in countries, like China, the United States, and India.