BOI backing powers Thailand’s rise in global probiotics industry

The probiotic market is fast becoming a key driver in the market as consumers increasingly focus on health and boosting their immunity.
 
In 2023, this market grew by 10.30% and it is expected to continue expanding in the future, with the current global market value reaching US$74.5 billion (2.45 trillion baht).
 
Probiotics have become a crucial component of functional foods thanks to their ability to balance gut microbiota, boost the immune system, reduce stress and depression, and improve mental health, leading to their growing popularity.
 
Asia, particularly Thailand, is also playing an important role in this market. The probiotic market in Thailand has an average annual growth rate (CAGR) of 12.21%, with the market valued at approximately $250 million. 
 

However, Thailand still relies on importing probiotic microorganisms from abroad, costing 25,000 to 45,000 baht per kilogram. 
 
This limitation presents a significant opportunity for investment and the development of Thai probiotic strains, which can enhance global market competitiveness and reduce import dependency.
 
It also presents a promising business opportunity, as those who can integrate local innovation and development will be well-positioned to capitalise on the strong global market growth.
 
From health trends to investment opportunities
 
All About Extracts Co, Ltd, is a prime example of applying biotechnology in the food industry. With an investment of over 12 million baht, the company not only develops high-quality probiotic products but also focuses on developing Thai probiotic strains that can compete in the global market.
 
This project has been promoted by the Board of Investment of Thailand (BOI) in the category of "Biotechnology Development", playing a key role in helping the company expand production capacity and research and development to meet the growing demand of the export market. This reflects its potential to compete internationally, especially in countries with high demand.
 

Leveraging local resources 
 
Research and development by a team from Maejo University, in collaboration with the company, have led to the creation of unique probiotic products using local strains such as Lactobacillus salivarius and Lactobacillus paracasei, which have been meticulously cultured and tested. 
 
The development of biotechnology and commercial production of microorganisms through a memorandum of understanding (MOU) adds economic value and assures international consumers that these Thai probiotic products are of high quality and based on advanced research. 
 
This project has the potential for continuous market expansion, especially in the dietary supplement segment, focusing on sustainability and health safety, which aligns with the preferences of health-conscious consumers.
 
Probiotics are becoming a rising star in the business world, driven by consumer health trends and the BOI's investment promotion. The production of Thai probiotic strains in this project exemplifies how research can expand the market reach, pushing Thailand's economy forward in line with future food trends that will propel the country's food industry toward a sustainable future.
 
Source: Board of Investment of Thailand