Wecare Probiotics ranked third globally and first in Asia by probiotic raw powder production volume in 2025, even as large amounts of its capacity lay idle last year
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Key Takeaways:
- Wecare Probiotics has filed to list in Hong Kong, reporting its overseas sales have grown steadily to contribute 40.2% of revenue last year
- The company has attracted a diverse group of investors, including industrial capital, state-backed funds and market-oriented investment institutions
Growing health consciousness among global consumers is providing a boost for probiotics, with China emerging as one of the world’s largest markets. Behind such familiar products as yogurt and supplements are a platoon of upstream manufacturers focused on things like strain research and production, providing the industry with the latest raw materials.
Now, a member of that upstream mix is aiming to give investors a taste of its business as Wecare Probiotics Co. Ltd., based in the East China city of Suzhou, filed last week for a Hong Kong IPO. Second-tier underwriter Haitong International is acting as the listing’s sole sponsor, indicating it’s likely to be mid-sized, probably raising less than $100 million.
Founded in 2013, Wecare develops and sells probiotic strains, which are naturally occurring microorganisms like bacteria and yeast that assist in digestion and fighting some diseases. Probiotics are often created in the fermenting process, and are found in foods like yogurt, sauerkraut and aged cheeses.
Wecare ranked third globally and first in Asia by probiotic raw powder production volume in 2025, according to third-party research in its listing document. Its products are mainly used in functional foods, dietary supplements, dairy products, agriculture and other sectors. The company generates most of its revenue from the sale of probiotic powder and also for processing such powder into probiotic formulations based on customer requirements.
Wecare’s core strength lies in its integrated capabilities combining product development and manufacturing. Leveraging its proprietary strain bank and supporting production capabilities, the company has been able to achieve mass production of probiotic powder with …
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