Asia-pacific Whey Protein Ingredients Market Research Report Information By Type (Whey Protein Isolates, Whey Protein Concentrates, and Whey Protein Hydrolysates), and By Application (Dairy & Frozen Desserts, Bakery & Confectionery, Beverages, Dietary Supplements, Nutrition Supplements, and Others) - Forecast Till 2030

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 16

1.1 OVERVIEW 16

1.1.1 MARKET SYNOPSIS 16

2 MARKET INTRODUCTION 17

2.1 DEFINITION 17

2.2 SCOPE OF THE STUDY 17

2.3 RESEARCH OBJECTIVE 17

2.4 MARKET STRUCTURE 18

2.5 LIST OF ASSUMPTIONS 19

3 RESEARCH METHODOLOGY 20

3.1 OVERVIEW 20

3.2 DATA MINING 20

3.3 SECONDARY RESEARCH 21

3.4 PRIMARY RESEARCH 22

3.4.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS 22

3.4.2 BREAKDOWN OF PRIMARY RESPONDENTS 23

3.5 FORECASTING TECHNIQUES 24

3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 25

3.6.1 BOTTOM-UP APPROACH 26

3.6.2 TOP-DOWN APPROACH 26

3.7 DATA TRIANGULATION 27

3.8 VALIDATION 27

4 MARKET DYNAMICS 28

4.1 OVERVIEW 28

4.2 DRIVERS 29

4.2.1 RISING DEMAND FOR DIETARY SUPPLEMENTS 29

4.2.2 INCREASING FITNESS AND SPORTS NUTRITION TRENDS 29

4.2.3 INCREASING DISPOSABLE INCOME LEVELS ACROSS THE ASIA-PACIFIC REGION 30

4.3 RESTRAINTS 31

4.3.1 HIGH COST OF WHEY PROTEIN INGREDIENTS 31

4.4 OPPORTUNITY 32

4.4.1 RISING HEALTH AND WELLNESS AWARENESS 32

5 MARKET FACTOR ANALYSIS 33

5.1 VALUE CHAIN ANALYSIS 33

5.1.1 RAW MATERIALS 33

5.1.2 MANUFACTURING / PRODUCTION/ PROCESSING 33

5.1.3 PACKING 33

5.1.4 DISTRIBUTION 33

5.1.5 END-USER 33

5.2 SUPPLY CHAIN ANALYSIS 34

5.2.1 RAW MATERIAL SUPPLIERS 34

5.2.2 MANUFACTURERS 34

5.2.3 DISTRIBUTION CHANNEL 35

5.2.4 END USER 35

5.3 PORTER’S FIVE FORCES MODEL 36

5.3.1 THREAT OF NEW ENTRANTS 36

5.3.2 BARGAINING POWER OF SUPPLIERS 37

5.3.3 THREAT OF SUBSTITUTES 38

5.3.4 BARGAINING POWER OF BUYERS 38

5.3.5 INTENSITY OF RIVALRY 39

5.4 IMPACT OF COVID-19 ON THE ASIA-PACIFIC WHEY PROTEIN INGREDIENTS 39

5.4.1 IMPACT ON SUPPLY CHAIN 39

5.4.2 IMPACT ON KEY PLAYERS 41

5.4.3 IMPACT ON WHEY PROTEIN INGREDIENTS CONSUMERS 41

6 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY TYPE 42

6.1 OVERVIEW 42

6.2 WHEY PROTEIN ISOLATES 46

6.3 WHEY PROTEIN CONCENTRATES 47

6.4 WHEY PROTEIN HYDROLYSATES 48

7 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY APPLICATION 50

7.1 OVERVIEW 50

7.2 DAIRY & FROZEN DESSERTS 56

7.3 BAKERY & CONFECTIONERY 58

7.4 BEVERAGES 59

7.5 DIETARY SUPPLEMENTS 61

7.6 OTHERS 63

8 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY COUNTRY 66

8.1 OVERVIEW 66

8.1.1 CHINA 70

8.1.2 INDIA 72

8.1.3 JAPAN 74

8.1.4 AUSTRALIA 76

8.1.5 SOUTH KOREA 78

8.1.6 SINGAPORE 80

8.1.7 INDONESIA 82

8.1.8 THAILAND 84

8.1.9 PHILIPPINES 86

8.1.10 MALAYSIA 88

8.1.11 VIETNAM 90

8.1.12 TAIWAN 92

8.1.13 REST OF ASIA-PACIFIC 94

9 COMPETITIVE LANDSCAPE 96

9.1 OVERVIEW 96

9.2 COMPETITIVE BENCHMARKING 97

9.3 MAJOR GROWTH STRATEGY IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET 98

9.4 THE LEADING PLAYER IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET 98

9.5 KEY DEVELOPMENT ANALYSIS 99

9.6 KEY DEVELOPMENTS & GROWTH STRATEGIES 99

9.6.1 PRODUCT LAUNCH 99

9.6.2 ACQUISITION 100

9.6.3 AGREEMENT 100

9.7 MAJOR PLAYERS FINANCIAL 101

9.7.1 SALES (USD MILLION), 2022 101

9.7.2 RESEARCH & DEVELOPMENT EXPENDITURE (USD MILLION), 2022 101

9.8 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, IMPORT AND EXPORT ANALYSIS (2018-2030) 102

10 COMPANY PROFILES 104

10.1 CARBERY 104

10.1.1 COMPANY OVERVIEW 104

10.1.2 FINANCIAL OVERVIEW 104

10.1.3 PRODUCTS OFFERED 105

10.1.4 KEY DEVELOPMENTS 105

10.1.5 KEY STRATEGIES 105

10.2 MORINAGA MILK INDUSTRY CO. LTD 106

10.2.1 COMPANY OVERVIEW 106

10.2.2 FINANCIAL OVERVIEW 106

10.2.3 PRODUCTS OFFERED 107

10.2.4 KEY DEVELOPMENTS 107

10.2.5 SWOT ANALYSIS 107

10.2.6 KEY STRATEGIES 108

10.3 FRIESLANDCAMPINA INGREDIENTS 109

10.3.1 COMPANY OVERVIEWS 109

10.3.2 FINANCIAL OVERVIEW 109

10.3.3 PRODUCTS OFFERED 109

10.3.4 KEY DEVELOPMENTS 110

10.3.5 SWOT ANALYSIS 110

10.3.6 KEY STRATEGIES 111

10.4 LACTALIS INGREDIENTS 112

10.4.1 COMPANY OVERVIEW 112

10.4.2 FINANCIAL OVERVIEW 112

10.4.3 PRODUCTS OFFERED 112

10.4.4 KEY DEVELOPMENTS 113

10.4.5 KEY STRATEGIES 113

10.5 MILK SPECIALTIES GLOBAL 114

10.5.1 COMPANY OVERVIEW 114

10.5.2 FINANCIAL OVERVIEW 114

10.5.3 PRODUCTS OFFERED 114

10.5.4 KEY DEVELOPMENTS 114

10.5.5 KEY STRATEGIES 114

10.6 ARLA FOODS INGREDIENTS GROUP P/S 115

10.6.1 COMPANY OVERVIEW 115

10.6.2 FINANCIAL ANALYSIS 115

10.6.3 PRODUCTS OFFERED 116

10.6.4 KEY DEVELOPMENTS 116

10.6.5 SWOT ANALYSIS 117

10.6.6 KEY STRATEGIES 117

10.7 DMK GROUP 118

10.7.1 COMPANY OVERVIEW 118

10.7.2 FINANCIAL OVERVIEW 118

10.7.3 PRODUCTS OFFERED 118

10.7.4 KEY DEVELOPMENTS 118

10.7.5 SWOT ANALYSIS 119

10.7.6 KEY STRATEGIES 119

10.8 FONTERRA CO-OPERATIVE GROUP LIMITED 120

10.8.1 COMPANY OVERVIEW 120

10.8.2 FINANCIAL OVERVIEW 120

10.8.3 PRODUCT OFFERED 121

10.8.4 KEY DEVELOPMENTS 121

10.8.5 KEY STRATEGIES 121

10.9 GLANBIA PLC 122

10.9.1 COMPANY OVERVIEW 122

10.9.2 FINANCIAL OVERVIEW 123

10.9.3 PRODUCTS OFFERED 123

10.9.4 KEY DEVELOPMENTS 124

10.9.5 SWOT ANALYSIS 124

10.9.6 KEY STRATEGIES 124

10.10 KERRY GROUP PLC 125

10.10.1 COMPANY OVERVIEW 125

10.10.2 FINANCIAL OVERVIEW 125

10.10.3 PRODUCTS OFFERED 126

10.10.4 KEY DEVELOPMENTS 126

10.10.5 KEY STRATEGIES 126

11 ADDITIONAL CUSTOMIZATION 127

11.1 COMPETITIVE LANDSCAPE 127

11.1.1 CHINA 127

11.1.2 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 127

11.1.3 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 128

11.1.4 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 128

11.1.5 JAPAN 129

11.1.6 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 129

11.1.7 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 129

11.1.8 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 130

11.1.9 SOUTH KOREA 130

11.1.10 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 130

11.1.11 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 131

11.1.12 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 131

11.1.13 AUSTRALIA 132

11.1.14 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 132

11.1.15 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 132

11.1.16 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 133

11.1.17 INDIA 133

11.1.18 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 133

11.1.19 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 134

11.1.20 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 134

11.1.21 VIETNAM 135

11.1.22 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 135

11.1.23 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 135

11.1.24 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 136

11.1.25 THAILAND 136

11.1.26 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 136

11.1.27 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 137

11.1.28 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 137

11.1.29 TAIWAN 138

11.1.30 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 138

11.1.31 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 138

11.1.32 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 139

11.1.33 INDONESIA 139

11.1.34 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%) 139

11.1.35 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%) 140

11.1.36 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%) 140

11.2 GLOBAL WHEY PROTEIN INGREDIENTS MARKET BY REGION, 2018-2030 (USD MILLION) 141

11.3 APAC MILK PROTEIN MARKET BY TYPE, 2018-2030 (USD MILLION) 141

11.4 GLOBAL MILK PROTEIN MARKET BY REGION, 2018-2030 (USD MILLION) 142

11.5 GLOBAL MILK PROTEIN MARKET DRIVERS 142

11.5.1 RISE IN DEMAND FOR NUTRITION-RICH PRODUCTS IN THE DIETARY SUPPLEMENT SEGMENT 142

11.5.2 GROWING DEMAND FOR HIGH-QUALITY PROTEIN 142

12 APPENDIX 144

12.1 REFERENCES 144

12.2 RELATED REPORTS 145

LIST OF TABLES

TABLE 1 LIST OF ASSUMPTIONS & LIMITATIONS 19

TABLE 2 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (USD MILLION) 45

TABLE 3 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS) 45

TABLE 4 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN ISOLATES, BY COUNTRY, 2018-2030 (USD MILLION) 46

TABLE 5 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN ISOLATES, BY COUNTRY, 2018-2030 (VOLUME IN TONS) 46

TABLE 6 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN CONCENTRATES, BY COUNTRY, 2018-2030 (USD MILLION) 47

TABLE 7 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN CONCENTRATES, BY COUNTRY, 2018-2030 (VOLUME IN TONS) 47

TABLE 8 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN HYDROLYSATES, BY COUNTRY, 2018-2030 (USD MILLION) 48

TABLE 9 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN HYDROLYSATES, BY COUNTRY, 2018-2030 (VOLUME IN TONS) 48

TABLE 10 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR APPLICATION, 2018-2030 (USD MILLION) 54

TABLE 11 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY APPLICATION, 2018-2030 (VOLUME IN TONS) 54

TABLE 12 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (USD MILLION) 54

TABLE 13 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS) 55

TABLE 14 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR NUTRITION SUPPLEMENTS, BY COUNTRY, 2018-2030 (USD MILLION) 55

TABLE 15 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR NUTRITION SUPPLEMENTS, BY COUNTRY, 2018-2030 (VOLUME IN TONS) 56

TABLE 16 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR DAIRY & FROZEN DESSERTS, BY COUNTRY, 2018-2030 (USD MILLION) 56

TABLE 17 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR DAIRY & FROZEN DESSERTS, BY COUNTRY, 2018-2030 (VOLUME IN TONS) 58

TABLE 18 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR BAKERY & CONFECTIONERY, BY COUNTRY, 2018-2030 (USD MILLION) 58

TABLE 19 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR BAKERY & CONFECTIONERY, BY COUNTRY, 2018-2030 (VOLUME IN TONS) 59

TABLE 20 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR BEVERAGES, BY COUNTRY, 2018-2030 (USD MILLION) 59

TABLE 21 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR BEVERAGES, BY COUNTRY, 2018-2030 ( VOLUME IN TONS) 61

TABLE 22 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR DIETARY SUPPLEMENTS, BY COUNTRY, 2018-2030 (USD MILLION) 61

TABLE 23 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR DIETARY SUPPLEMENTS, BY COUNTRY, 2018-2030 (VOLUME IN TONS) 63

TABLE 24 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR OTHERS, BY COUNTRY, 2018-2030 (USD MILLION) 63

TABLE 25 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR OTHERS, BY COUNTRY, 2018-2030 ( VOLUME IN TONS) 65

TABLE 26 ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET, BY COUNTRY, 2018–2030 (USD MILLION) 69

TABLE 27 ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET, BY COUNTRY, 2018–2030 (VOLUME IN TONS) 69

TABLE 28 CHINA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION) 70

TABLE 29 CHINA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (VOLUME IN TONS) 70

TABLE 30 CHINA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION) 70

TABLE 31 CHINA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (VOLUME IN TONS) 71

TABLE 32 CHINA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION) 71

TABLE 33 CHINA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (VOLUME IN TONS) 71

TABLE 34 INDIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION) 72

TABLE 35 INDIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (VOLUME IN TONS) 72

TABLE 36 INDIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION) 72

TABLE 37 INDIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (VOLUME IN TONS) 73

TABLE 38 INDIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION) 73

TABLE 39 INDIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (VOLUME IN TONS) 73

TABLE 40 JAPAN: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION) 74

TABLE 41 JAPAN: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (VOLUME IN TONS) 74

TABLE 42 JAPAN: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION) 74

TABLE 43 JAPAN: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (VOLUME IN TONS) 75

TABLE 44 JAPAN: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION) 75

TABLE 45 JAPAN: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (VOLUME IN TONS) 75

TABLE 46 AUSTRALIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION) 76

TABLE 47 AUSTRALIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (VOLUME IN TONS) 76

TABLE 48 AUSTRALIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION) 76

TABLE 49 AUSTRALIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (VOLUME IN TONS) 77

TABLE 50 AUSTRALIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION) 77

TABLE 51 AUSTRALIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (VOLUME IN TONS) 77

TABLE 52 SOUTH KOREA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION) 78

TABLE 53 SOUTH KOREA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (VOLUME IN TONS) 78

TABLE 54 SOUTH KOREA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION) 78

TABLE 55 SOUTH KOREA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (VOLUME IN TONS) 79

TABLE 56 SOUTH KOREA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION) 79

TABLE 57 SOUTH KOREA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (VOLUME IN TONS) 79

TABLE 58 SINGAPORE: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION) 80

TABLE 59 SINGAPORE: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (VOLUME IN TONS) 80

TABLE 60 SINGAPORE: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION) 80

TABLE 61 SINGAPORE: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (VOLUME IN TONS) 81

TABLE 62 SINGAPORE: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION) 81

TABLE 63 SINGAPORE: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (VOLUME IN TONS) 81

TABLE 64 INDONESIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION) 82

TABLE 65 INDONESIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS) 82

TABLE 66 INDONESIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION) 82

TABLE 67 INDONESIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (VOLUME IN TONS) 83

TABLE 68 INDONESIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION) 83

TABLE 69 INDONESIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS) 83

TABLE 70 THAILAND: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (USD MILLION) 84

TABLE 71 THAILAND: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS) 84

TABLE 72 THAILAND: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (USD MILLION) 84

TABLE 73 THAILAND: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (VOLUME IN TONS) 85

TABLE 74 THAILAND: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (USD MILLION) 85

TABLE 75 THAILAND: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS) 85

TABLE 76 PHILIPPINES: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (USD MILLION) 86

TABLE 77 PHILIPPINES: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS) 86

TABLE 78 PHILIPPINES: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (USD MILLION) 86

TABLE 79 PHILIPPINES: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (VOLUME IN TONS) 87

TABLE 80 PHILIPPINES: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (USD MILLION) 87

TABLE 81 PHILIPPINES: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS) 87

TABLE 82 MALAYSIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (USD MILLION) 88

TABLE 83 MALAYSIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS) 88

TABLE 84 MALAYSIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (USD MILLION) 88

TABLE 85 MALAYSIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (VOLUME IN TONS) 89

TABLE 86 MALAYSIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (USD MILLION) 89

TABLE 87 MALAYSIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS) 89

TABLE 88 VIETNAM: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (USD MILLION) 90

TABLE 89 VIETNAM: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS) 90

TABLE 90 VIETNAM: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (USD MILLION) 90

TABLE 91 VIETNAM: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (VOLUME IN TONS) 91

TABLE 92 VIETNAM: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (USD MILLION) 91

TABLE 93 VIETNAM: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS) 91

TABLE 94 TAIWAN: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (USD MILLION) 92

TABLE 95 TAIWAN: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS) 92

TABLE 96 TAIWAN: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (USD MILLION) 92

TABLE 97 TAIWAN: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (VOLUME IN TONS) 93

TABLE 98 TAIWAN: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (USD MILLION) 93

TABLE 99 TAIWAN: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS) 93

TABLE 100 REST OF ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (USD MILLION) 94

TABLE 101 REST OF ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS) 94

TABLE 102 REST OF ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (USD MILLION) 94

TABLE 103 REST OF ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018-2030 (VOLUME IN TONS) 95

TABLE 104 REST OF ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (USD MILLION) 95

TABLE 105 REST OF ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS) 95

TABLE 106 MAJOR PLAYERS IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET 96

TABLE 107 MOST ACTIVE PLAYER IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET 98

TABLE 108 PRODUCT LAUNCH 99

TABLE 109 ACQUISITION 100

TABLE 110 AGREEMENT 100

TABLE 111 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR IMPORT, BY COUNTRY, 2018–2030 (VOLUME IN TONS) 102

TABLE 112 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR EXPORT, BY COUNTRY, 2018–2030 (VOLUME IN TONS) 103

TABLE 113 CARBERRY: PRODUCTS OFFERED 105

TABLE 114 MORINAGA MILK INDUSTRY CO. LTD: PRODUCTS OFFERED 107

TABLE 115 FRIESLANDCAMPINA INGREDIENTS: PRODUCTS OFFERED 109

TABLE 116 FRIESLANDCAMPINA INGREDIENTS: KEY DEVELOPMENTS 110

TABLE 117 LACTALIS INGREDIENTS: PRODUCTS OFFERED 112

TABLE 118 MILK SPECIALTIES GLOBAL: PRODUCTS OFFERED 114

TABLE 119 ARLA FOODS INGREDIENTS GROUP P/S: PRODUCTS OFFERED 116

TABLE 120 ALLERGAN PLC: KEY DEVELOPMENTS 116

TABLE 121 DMK GROUP: PRODUCTS OFFERED 118

TABLE 122 FONTERRA COOPERATIVE GROUP: PRODUCT OFFERED 121

TABLE 123 GLANBIA PLC: PRODUCTS OFFERED 123

TABLE 124 GLANBIA PLC: KEY DEVELOPMENTS 124

TABLE 125 KERRY GROUP PLC: PRODUCTS OFFERED 126

LIST OF FIGURES

FIGURE 1 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET STRUCTURE 18

FIGURE 2 BOTTOM-UP AND TOP-DOWN APPROACHES 25

FIGURE 3 MARKET DYNAMICS: ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET 28

FIGURE 4 DRIVER IMPACT ANALYSIS 30

FIGURE 5 RESTRAINT IMPACT ANALYSIS 31

FIGURE 6 SUPPLY CHAIN ANALYSIS: ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET 34

FIGURE 7 PORTER’S FIVE FORCES ANALYSIS: ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET 36

FIGURE 8 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, TYPE SEGMENT ATTRACTIVENESS, 2018-2030 (USD MILLION) 44

FIGURE 9 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2022 & 2030 (USD MILLION) 44

FIGURE 10 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET SAHRE, BY TYPE, (%) 2022 45

FIGURE 11 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, APPLICATION SEGMENT ATTRACTIVENESS, 2018-2030 (USD MILLION) 52

FIGURE 12 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY APPLICATION, 2022 & 2030 (USD MILLION) 53

FIGURE 13 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET SHARE, BY APPLICATION, (%) 2022 53

FIGURE 14 ASIA-PACIFIC MARKET ANALYSIS: WHEY PROTEIN INGREDIENTS MARKET, 2018-2030 67

FIGURE 15 ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET SHARE (%), BY COUNTRY, 2022 68

FIGURE 16 ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET, BY COUNTRY, 2022 & 2030 (USD MILLION) 68

FIGURE 17 BENCHMARKING OF MAJOR COMPETITORS 97

FIGURE 18 MAJOR STRATEGY ADOPTED BY KEY PLAYERS IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET 98

FIGURE 19 ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET: COMPETITIVE LANDSCAPE 99

FIGURE 20 MAJOR PLAYERS SALES (USD MILLION), 2022 101

FIGURE 21 MAJOR PLAYER R&D EXPENDITURE (USD MILLION), 2022 101

FIGURE 22 CARBERRY: FINANCIAL OVERVIEW SNAPSHOT 104

FIGURE 23 MORINAGA MILK INDUSTRY CO. LTD: FINANCIAL OVERVIEW SNAPSHOT 106

FIGURE 24 MORINAGA MILK INDUSTRY CO. LTD: SWOT ANALYSIS 107

FIGURE 25 FRIESLANDCAMPINA INGREDIENTS: SWOT ANALYSIS 110

FIGURE 26 ARLA FOODS INGREDIENTS GROUP P/S: FINANCIAL OVERVIEW SNAPSHOT 115

FIGURE 27 ARLA FOODS INGREDIENTS GROUP P/S: SWOT ANALYSIS 117

FIGURE 28 DMK GROUP: SWOT ANALYSIS 119

FIGURE 29 FONTERRA COOPERATIVE GROUP: FINANCIAL OVERVIEW SNAPSHOT 120

FIGURE 30 GLANBIA PLC: FINANCIAL OVERVIEW SNAPSHOT 123

FIGURE 31 GLANBIA PLC: SWOT ANALYSIS 124

FIGURE 32 KERRY GROUP PLC: FINANCIAL OVERVIEW SNAPSHOT 125

FIGURE 33 CHINA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 127

FIGURE 34 CHINA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 128

FIGURE 35 CHINA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 128

FIGURE 36 JAPAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 129

FIGURE 37 JAPAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 129

FIGURE 38 JAPAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 130

FIGURE 39 SOUTH KOREA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 130

FIGURE 40 SOUTH KOREA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 131

FIGURE 41 SOUTH KOREA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 131

FIGURE 42 AUSTRALIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 132

FIGURE 43 AUSTRALIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 132

FIGURE 44 AUSTRALIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 133

FIGURE 45 INDIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 133

FIGURE 46 INDIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 134

FIGURE 47 INDIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 134

FIGURE 48 VIETNAM: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 135

FIGURE 49 VIETNAM: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 135

FIGURE 50 VIETNAM: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 136

FIGURE 51 THAILAND: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 136

FIGURE 52 THAILAND: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 137

FIGURE 53 THAILAND: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 137

FIGURE 54 TAIWAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 138

FIGURE 55 TAIWAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 138

FIGURE 56 TAIWAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 139

FIGURE 57 INDONESIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%) 139

FIGURE 58 INDONESIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%) 140

FIGURE 59 INDONESIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%) 140

1 EXECUTIVE SUMMARY

1.1 OVERVIEW

The growing demand for dietary supplements products, increasing fitness and sports nutrition trends, and increasing disposable income levels across the Asia-Pacific region will help the market in overall growth. Additionally, rising health and wellness awareness will provide growth opportunities for the market in the future.

1.1.1 MARKET SYNOPSIS

Source: MRFR Analysis

2 MARKET INTRODUCTION

2.1 DEFINITION

Whey protein ingredients are derived from whey, which is a byproduct of cheese production. Whey is the liquid portion that separates from the curds during the cheese-making process. It contains a high concentration of proteins, including whey protein. Whey protein ingredients are obtained by further processing and isolating the proteins from whey. The most common types of whey protein ingredients include whey protein concentrate (WPC), whey protein isolate (WPI), and whey protein hydrolysate (WPH).

2.2 SCOPE OF THE STUDY

The scope of the Asia-Pacific whey protein ingredients market study includes market size analysis and a detailed analysis of the manufacturer’s services and strategies. The market has been segmented based on type, application, and country.

2.3 RESEARCH OBJECTIVE

 To provide a comprehensive analysis of the Asia-Pacific whey protein ingredients market and its sub-segments, thereby providing a detailed structure of the industry

 To provide detailed insights into factors driving and restraining the growth of the Asia-Pacific whey protein ingredients market

 To estimate the market size of the Asia-Pacific whey protein ingredients market where 2018 to 2021 would be the historic period, 2022 shall be the base year, and 2023 to 2030 will be the forecast period for the study

 To provide country-level analysis of the market for various segments of the Asia-Pacific whey protein ingredients market

 To provide strategic profiling of key companies (manufacturers and distributors) present across the globe and comprehensively analyze their competitiveness/competitive landscape in this market

 To provide a distribution chain analysis/value chain for the Asia-Pacific whey protein ingredients market

2.4 MARKET STRUCTURE

FIGURE 1 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET STRUCTURE

Source: MRFR Analysis

2.5 LIST OF ASSUMPTIONS

TABLE 1 LIST OF ASSUMPTIONS & LIMITATIONS

Parameter Assumptions & Limitations

Currency Value All forecasts have been made with the revenue and value calculated under the standard assumption that the value of the globally accepted currency, the US dollar, remains constant over the next five years.

Exchange Rates and Currency For the conversion of various currencies to USD, the average historical exchange rates have been used according to the year specified. For all historical and current exchange rates required for calculations and currency conversions, the OANDA website has been used in this research study.

Conversion

Niche Market Segments For niche market segments where accurate data of the respective timeline was not available, the data were calculated using trend line analysis. In some instances, where mathematical and statistical models could not be applied to arrive at the number, a generalization of specifically related trends to that particular market has been made.

Qualitative Analysis The qualitative analysis is arrived at from the quantitative data based on the understanding of the market and its trends by the team of experts involved in making this report.

Average Selling Prices (ASP) The ASP, wherever applicable, was calculated using all kinds of suitable statistical and mathematical methods and considering external qualitative factors affecting the price. All the calculations are interconnected based on the finalized ASPs.

Source: MRFR Analysis

3 RESEARCH METHODOLOGY

3.1 OVERVIEW

The research starts with the extensive procurement process of data/information and statistics from company annual reports, government websites, statistic agencies, and paid databases. This information creates a basis for the study. This information also helps to define the scope and to narrow down the area for study of the market. This raw information is processed and analyzed to extract crisp data points that currently affect or are likely to affect the industry over the forecast period. After analyzing the information, a proprietary statistical tool is used for market estimation & forecast, which generates the quantitative figures/sizes of the market/sub-segments in the current scenario as well as over the forecast period.

After estimating the market sizes and estimates, numbers are verified with the industry participants and key opinion leaders. The wide network of industry participants performs a value addition in the research and verifies the numbers & estimates of the study. In the last stage of the research process, a final report is prepared, which is then published on different websites as well as distributed through various channels. The below figure contains the different stages of the whole research performed to produce the report.

3.2 DATA MINING

Data mining is one of the extensive stages of our research process. It involves the procurement of market data and related information through different verified & credible sources. This step helps obtain the raw information about components in the industry and their deployment, the monetary process for different end-uses, the pool of market participants & the nature of the industry, and the scope of the study. The data mining stage comprises both primary and secondary sources of information.

3.3 SECONDARY RESEARCH

In the secondary research process, various sources are used to identify and gather industry trends and information for the research process. We at MRFR have access to some of the most diversified and extensive paid databases, which give us the most accurate data/information on market sizes, components, and pricing. Mentioned below is a detailed list of sources that have been used for this study. Please note that this list is not limited to the names as mentioned. We also access other data sources depending on the need.

Market Sizing & Revenue Qualitative Information & Trends

Company Websites • White Papers

• Magazines

• Company Websites

• Annual Reports

• Press Releases

• Investor Presentations

• Paid Databases

• Authenticated Directories

• Independent Studies

• Internal Audit Reports & Archives

• Government and Regulatory Published Material

• World Health Organization

• Asia Pacific Clinical Nutrition Society

• Asian Nutrition Society for Sport and Health

• Asia-Pacific Network for Food and Nutrition

• The Parenteral and Enteral Nutrition Society of Asia

• Chinese Nutrition Society

• Indian Association for Parenteral and Enteral Nutrition

• Nutrition Society of India

• China Nutrition and Health Food Association

• Australian Health Promotion Association

• Nutrition Society of Australia

• Australasian Society of Parenteral and Enteral Nutrition

• Physicians Association for Nutrition India

• Taiwan Society for Parenteral and Enteral Nutrition

• Australian Institute of Food Science and Technology

• Nutrition Society of Taiwan

Annual Reports

Investor Presentations

Authenticated Directories

Hoover’s, Factiva, Bloomberg

3.4 PRIMARY RESEARCH

In the primary research process, in-depth primary interviews are conducted with the CXOs. Primary interviews help analyze the market share, customer base, pricing strategies, and other necessary information of each key player. Besides, in-depth primary interviews are conducted with the CXOs of companies, and others to validate the supply-side information. Moreover, various key industry participants from both the supply and demand sides are interviewed to obtain qualitative and quantitative information on the market. In-depth interviews with key primary respondents, including industry professionals, subject matter experts (SMEs), industry consultants, and C-level executives of major companies, are conducted to obtain critical qualitative and quantitative information pertaining to the market, as well as to assess the prospects for market growth during the forecast period. Detailed information on these primary respondents is mentioned below.

Primary Source Service Side Subject Matter Experts, Top Management, and CXOs

Technical Persons of Organizations Operating in the Market

Marketing and Business Development Managers, VPs, and Marketing Directors

Various Partner Consultants from the Demand and Supply Sides

3.4.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS

Respondents Data Points Received

Service Producer and Provider • Market Size

• Top of the Mind Key Market Players

• Direct Competitors

• Company Market Shares

• Growth Rate (%)

• Market Trends and Prominent Market Drivers

• Major Brands

• Product Pricing and Catalogues

• Regional Scenario

• Market Trends

• Upcoming Services

End Users • Acceptance Ratio

• Product Cost

3.4.2 BREAKDOWN OF PRIMARY RESPONDENTS

Note: Tier 1, Tier 2, and Tier 3 are classifications used to categorize companies based on their size, revenue, market presence, and other factors. These classifications can vary depending on the industry and context. Here's a general understanding of what these tiers represent:

Tier 1 Companies: Tier 1 companies are typically the largest and most well-established companies in an industry. They often have a global presence, significant market share, and high brand recognition. Tier 1 companies are usually leaders in their respective sectors and have substantial financial resources. They often have a wide range of products or services and may operate in multiple geographic regions. Examples of Tier 1 companies include multinational corporations like Arla Foods and Glanbia Plc.

Tier 2 Companies: Tier 2 companies are generally smaller than Tier 1 companies but still have a significant market presence. They may operate regionally or nationally and have a moderate market share within their specific industry. Tier 2 companies often focus on specific niches or segments and may have a more specialized product or service offering. While they may not have the same level of global recognition as Tier 1 companies, they can still be influential players in their respective markets. Examples of Tier 2 companies can vary depending on the industry but may include regional banks, mid-sized technology firms, or specialized manufacturers.

Tier 3 Companies: Tier 3 companies are typically smaller and more localized than Tier 1 and Tier 2 companies. They may operate within a specific region or serve a niche market. Tier 3 companies often have limited resources and a smaller market share compared to higher-tier companies. They may focus on serving a specific customer base or providing specialized products or services. Examples of Tier 3 companies can include local retailers, small-scale manufacturers, or neighborhood service providers.  

3.5 FORECASTING TECHNIQUES

We at MRFR follow an extensive process for arriving at market estimations, which involves the use of multiple forecasting techniques, as mentioned below.

Forecasting Techniques Description

Qualitative and Quantitative Analysis A combination of qualitative approach, i.e., primary interviews with industry experts to understand the interviewees’ opinions and judgments, more commonly known as the Delphi method, and quantitative analysis to forecast future data based on historical and current data.

Weighted Average Approach Via this approach, future data is calculated based on the mean of the past data under the assumption that some factors affecting the market in the past will continue to have a similar impact in the future.

Drift Method This approach is used to vary the forecast, which increases or decreases in market factor over time, depending on various parameters affecting the change in the trends of the market.

Time Series Methods The integration of several time series methods such as moving average, moving weighted average, linear prediction, and trend estimation is applied while determining the year-on-year growth rate and the compound annual growth rate of the market being studied.

Causal/Econometric Forecasting Methods Various economic factors such as inflation rate, fiscal policies, changes in government regulations, taxes, labor costs, and interest rates are taken into consideration while determining the current market size and predicting the future market growth rate.

Judgmental Methods This involves the collection of intuitive judgment, opinions, and probability estimates from industry experts in the case of new or upcoming markets/technologies for which no prior data is available.

Regression Analysis This type of statistical modeling is carried out for predicting and forecasting dependent and independent variables that will directly or indirectly impact the market.

Probabilistic Forecasting This forecasting method is carried out to assign a probability to every possible outcome ranging from the least optimistic to highly optimistic, which helps in gauging the market under stable conditions.

PESTLE Analysis Political, economic, social, technological, legal, and environmental factors are taken into consideration while deriving the fluctuations in the growth rate of the market.

Porter’s Five Forces Analysis By understanding the supplier-side and demand-side factors, the current market scenario can be estimated, and future market scenarios predicted, which aid in deriving the growth rate of the market.

3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION

Understanding and penetrating the market in terms of valuation is a crucial task in the process of business research. This again becomes significantly important while investing and choosing business opportunities. In this regard, we at MRFR performs two ways market sizing approach simultaneously, namely top-down and bottom-up approaches. In this step, we place different data points, numeric attributes, information, and industry trends in an appropriate space to deduce the estimates & forecast values over the coming years. We use different mathematical models to estimate the market sizes of different economies and segments. Each of which is further summed up to define the total market.

We at MRFR own a proprietary statistical tool for market estimations, which helps us comprehend market size estimates & forecasts for different markets and industries.

FIGURE 2 BOTTOM-UP AND TOP-DOWN APPROACHES

Source: MRFR Analysis

3.6.1 BOTTOM-UP APPROACH

In the bottom-up approach, the revenue of key companies and their shares in the market are assessed to deduce the market size. Major players operating in the Asia-Pacific whey protein ingredients market are studied. The segmental revenue of each player is analyzed, and the size of the Asia-Pacific whey protein ingredients market is extracted from the segmental revenue with the help of secondary and primary research. The extracted size for the market is then validated with industry experts and partner consultants. This derived market size contributes to the total region market share in terms of revenue for the Asia-Pacific whey protein ingredients market. Using the data triangulation method, the overall global market size is estimated.

3.6.2 TOP-DOWN APPROACH

The overall market size is then used in the top-down procedure to estimate the size of the other sub-markets with the help of percentage splits of the market segments from secondary and primary research. The demand-side analysis is conducted, in which the expenditure of significant industry players in each region is studied. The end-users considered in the scope of this research study contribute around 70% of the total spent in the Asia-Pacific whey protein ingredients market.

The countries considered in the scope of the Asia-Pacific whey protein ingredients market are China, India, Japan, Australia, South Korea, Vietnam, Thailand, Taiwan, Indonesia, Malaysia, Philippines, Singapore, and Rest of Asia-Pacific. However, the availability of the products can differ owing to the product approval processes.

The figure below depicts the process of market estimation using independent tools employed by our analysts to arrive at the sizing of the market.

Source: MRFR Analysis

As a part of the market engineering, both top-down and bottom-up approaches are utilized along with data triangulation models to derive and verify the market sizes and forecast over the coming years.

3.7 DATA TRIANGULATION

After arriving at the overall market sizes, the total market is divided into several segments and sub-segments. Again, the market breakdown and data triangulation procedures are implemented, wherever applicable, to complete the overall market engineering process and gather the exact statistics for all segments and sub-segments. The data is triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size is validated using the top-down and bottom-up approaches.

3.8 VALIDATION

Validation is the most important stage of the report-making process. Validation via an intricately designed feedback process helps us finalize the sizing estimates and forecast for the final collation. Extensive primary research is performed to verify the information. This includes telephonic and personal interviews, e-mails, feedback forms, questionnaires, and polling options/answers with a group of relevant industry participants. Validation helps to duly check the authenticity of the key industry trends, market dynamics, company market share, different business models, and conclusions.

4 MARKET DYNAMICS

4.1 OVERVIEW

The Asia-Pacific whey protein ingredients market is emerging due to rising demand for dietary supplements products, increasing fitness and sports nutrition trends, and increasing disposable income levels across the Asia-pacific region. Additionally, rising health and wellness awareness will provide growth opportunities for the market in the future. However, the high cost of whey protein might hamper the market's growth in the forecast period.

FIGURE 3 MARKET DYNAMICS: ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET

Source: MRFR Analysis

4.2 DRIVERS

4.2.1 RISING DEMAND FOR DIETARY SUPPLEMENTS

The increase in demand for dietary supplements has been a major driving factor for the growth of the whey protein ingredients market. Dietary supplements are widely consumed by individuals looking to improve their overall health and well-being, as well as manage specific health concerns. Whey protein is a popular ingredient in many dietary supplements due to its numerous health benefits.

For example, whey protein is rich in essential amino acids, which are important for muscle growth and repair. It is commonly used by athletes and fitness enthusiasts as a post-workout supplement to aid in muscle recovery and enhance performance. The growing popularity of protein dietary supplements products has significantly contributed to the increased demand for whey protein ingredients based dietary supplements which in turn drives the growth whey protein ingredients market. As whey protein ingredient is the major component required in whey protein ingredients based dietary supplements.

Moreover, whey protein has gained attention for its potential weight management benefits. It has been found to promote satiety and reduce appetite, making it a preferred choice for individuals looking to manage their weight. The rising number of individuals seeking weight loss solutions has further fuelled the demand for whey protein ingredients used the production of whey protein ingredient based dietary supplements.

Additionally, the aging population has contributed to the growth of the whey protein raw ingredients market. As people age, there is an increased focus on maintaining muscle mass and preventing age-related muscle loss. Whey protein is known to be easily digestible and contains a high concentration of branched-chain amino acids, which are essential for muscle synthesis. This has led to a surge in the demand for whey protein ingredients among the manufacturers for the production of whey protein ingredient based dietary supplements-based supplements among older individuals seeking to maintain their muscle strength and overall health. Thus,rise in the demand of dietary supplements across the region drives the growth of APAC whey protein ingredients market.

4.2.2 INCREASING FITNESS AND SPORTS NUTRITION TRENDS

The increasing fitness and sports nutrition trends are reshaping dietary habits and consumer choices across the Asia-Pacific region. With a heightened focus on health and physical well-being, individuals are increasingly integrating fitness routines into their lifestyles, spurring a surge in demand for sports nutrition products. This trend is characterized by a growing community of athletes, fitness enthusiasts, and health-conscious consumers who recognize the importance of proper nutrition in achieving their fitness goals. Whey protein, a high-quality protein source, has emerged as a staple in the diets of these individuals due to its rapid absorption, muscle-repairing attributes, and amino acid profile, which supports muscle recovery and growth. This has led to an upswing in the consumption of whey protein supplements, across the region, which in turn increases the demand of whey protein ingredients among the manufacturers to produce whey protein supplements.

Overall, the rising fitness and sports nutrition trends are reshaping dietary preferences and driving the growth of the whey protein ingredient market in the Asia-Pacific region, as manufacturers increasingly recognize the demand of whey protein ingredients in dietary supplement and in nutritional supplements across the region.

4.2.3 INCREASING DISPOSABLE INCOME LEVELS ACROSS THE ASIA-PACIFIC REGION

The increasing disposable income levels across the Asia-Pacific region have significantly impacted consumer spending patterns and the overall economy. As incomes rise, individuals and households have more financial flexibility, leading to shifts in consumption habits. One notable effect is the elevated demand for premium and higher-quality whey protein ingredients-based supplements. With greater purchasing power, consumers are more willing to invest in health and well-being, leading to a surge in demand for nutritious and premium food options. This has had a notable impact on the whey protein ingredients market as consumers are increasingly opting for products fortified with whey protein ingredients due to its reputation as a high-quality, complete protein source with numerous health benefits has led to an increase in the demand of whey protein ingredients across the region.

Furthermore, increasing disposable income levels have not only driven the demand for whey protein ingredients in retail products but have also expanded its presence in the food service industry, cementing its role as a versatile and sought-after ingredient in the evolving culinary landscape of the Asia-Pacific region.

FIGURE 4 DRIVER IMPACT ANALYSIS

Source: MRFR Analysis

4.3 RESTRAINTS

4.3.1 HIGH COST OF WHEY PROTEIN INGREDIENTS

The high cost of whey protein is a significant challenge for both manufacturers in the Asia-Pacific region. Whey protein, sourced from milk during cheese production, is considered a premium protein ingredient due to its superior amino acid profile and various health benefits. However, this quality comes at a price premium compared to other protein sources. This cost factor can be a deterrent for price-sensitive consumers, particularly in regions where budget constraints play a pivotal role in purchasing decisions.

Manufacturers, on the other hand, face the challenge of balancing the quality of their products with cost-effectiveness. Incorporating whey protein into food and beverage formulations can increase production expenses, impacting the final retail price of the products. This can limit the market reach of whey protein-enhanced products, as they may be perceived as unaffordable by a significant portion of the consumer base.

To address the issue of high cost, industry players are exploring various strategies, including bulk purchasing, process optimization, and research into more cost-efficient production methods. Moreover, companies are diversifying their product portfolios to offer a range of whey protein products with different price points and protein concentrations, catering to a broader spectrum of consumers.

Additionally, educating consumers about the value and health benefits of whey protein can help justify its higher price point and encourage its adoption among those willing to invest in their health and well-being. In this context, product innovation, cost management, and consumer education are vital in mitigating the challenge posed by the high cost of whey protein in the Asia-Pacific market.

FIGURE 5 RESTRAINT IMPACT ANALYSIS

Source: MRFR Analysis

4.4 OPPORTUNITY

4.4.1 RISING HEALTH AND WELLNESS AWARENESS

The Asia-Pacific region is witnessing a remarkable surge in health and wellness awareness, creating a significant impact on consumer preferences and market dynamics. Increasingly health-conscious individuals are seeking nutritious, functional, and high-quality food products to support their well-being. The healthcare industry has changed as a result of the Covid-19 pandemic and its variants. Aditya Birla Health Insurance conducted a consumer behaviour survey in 2023, and the results show that people are becoming more aware of and inclined towards fitness, diet, and health products and services. This heightened awareness extends beyond mere dietary choices and encompasses holistic lifestyle choices, emphasizing physical fitness, mental health, and balanced nutrition. As a result, consumers are actively seeking products that align with their wellness goals, and whey protein ingredients have emerged as a favoured choice due to their recognized health benefits. Whey protein, derived from milk, offers a complete amino acid profile and is known for its muscle-building properties and making it an attractive option for those striving for a healthier lifestyle.

This growing health and wellness awareness also fuels the demand for convenient, on-the-go solutions that cater to busy, modern lifestyles. Whey protein, being a versatile ingredient, can be seamlessly incorporated into a wide array of functional foods and beverages, including protein bars, shakes, and fortified snacks, meeting the needs of individuals seeking both nutrition and convenience. Furthermore, the Asia-Pacific region's diverse demographic landscape enables the customisation and formulation of whey protein ingredients tailored to specific dietary preferences, such as vegetarian options for the diverse wellness-conscious population.

The health and wellness trend extends beyond individual choices, with governments and regulatory bodies in the Asia-Pacific region actively promoting and endorsing healthier dietary practices. Supportive policies and regulations related to food safety, labelling, and nutritional standards further contribute to the growth of the whey protein ingredients market. As health-consciousness continues to be a driving force in consumer decision-making, the Asia-Pacific whey protein ingredients market is poised for sustained expansion, offering opportunities for innovation, product diversification, and market growth in line with the region's evolving wellness landscape.

5 MARKET FACTOR ANALYSIS

5.1 VALUE CHAIN ANALYSIS

The Asia-Pacific whey protein ingredients market is expected to continue growing at a rapid rate in the near future. This is due to the growing contribution of existing players to make the product available to the public. The value chain analysis for the Asia-Pacific whey protein ingredients market comprises five major components, which start with the raw materials, manufacturing / production / processing, packing, distribution, and end-user.

5.1.1 RAW MATERIALS

The raw material stage encompasses the essential initial steps in sourcing, acquiring, and processing primary materials necessary for whey protein ingredients. The value chain begins with the procurement of raw materials, primarily milk, from dairy farms across the Asia-Pacific region. High-quality milk is essential, as it serves as the primary source of whey protein. The collection and transportation of milk to processing facilities are integral to ensuring the freshness and quality of the raw materials. This step mainly involves raw material procurement, research and development, and patent filing for new innovative processes. Basic processing is performed by manufacturers and is closely linked to research and development activities. At this stage, mainly raw material suppliers supply the raw material.

5.1.2 MANUFACTURING / PRODUCTION/ PROCESSING

This stage adds the maximum value to the product. Once the raw milk is collected, it undergoes a series of processing steps. Initially, it is separated into curds and whey, with the whey then undergoing filtration and purification processes to extract whey protein. These processes may vary in complexity, depending on the desired whey protein concentrate or isolate. State-of-the-art manufacturing facilities and technology play a significant role in this stage to meet quality standards. Manufacturers such as Arla Foods Ingredients Group P/S (Denmark), and others are continuously involved in research and development activities to enhance the product.

5.1.3 PACKING

Whey protein isolates market, the packaging stage plays a pivotal role in the value chain. After the manufacturing and production processes have yielded innovative and effective products containing whey protein isolates, whey protein concentrates, and whey protein hydrolysates, the focus shifts to ensuring these items are appropriately packaged. Packaging serves multiple vital functions, including preserving product integrity and extending shelf life. Also plays a crucial role in marketing and brand identification. Packaging also includes labeling and nutritional information, ensuring compliance with regulations and consumer transparency.

5.1.4 DISTRIBUTION

Distribution is a key component of the value chain, involving the transportation of whey protein ingredients to various distribution points, such as wholesalers, retailers, or directly to manufacturers of end-user products. An efficient distribution network is essential to ensure that products reach their intended destinations in a timely and cost-effective manner.

5.1.5 END-USER

The ultimate destination in the value chain is the end-user, which can vary widely. End-users may include food and beverage manufacturers, dietary supplement companies who incorporate whey protein ingredients into a wide range of products, including protein shakes, sports supplements, infant formulas, and various food applications.

5.2 SUPPLY CHAIN ANALYSIS

An analysis of the Asia-Pacific whey protein ingredients market's supply chain unveils a complex network involving numerous activities and stakeholders. The supply chain for these ingredients involves sourcing raw materials, production, and distribution to food and beverage manufacturers dietary supplement companies who incorporate whey protein ingredients into a wide range of products. With an increasing awareness of the importance of a healthy lifestyle and fitness, the demand for these ingredients is expected to continue rising, making it essential for companies to maintain a robust and efficient supply chain to meet consumer needs effectively.

FIGURE 6 SUPPLY CHAIN ANALYSIS: ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET

Source: MRFR Analysis

5.2.1 RAW MATERIAL SUPPLIERS

The raw material procurement stage in the supply chain for whey protein ingredients is a crucial step that lays the groundwork for the entire production process. At the supply chain's outset, raw material suppliers play a pivotal role, sourcing essential ingredients such as milk, and others. suppliers acquire these components from diverse agricultural sources, ensuring the foundation for high-quality whey protein ingredients. Subsequently, these raw materials undergo meticulous processing and formulation at specialized facilities to enhance their efficacy for various applications. Once prepared, these ingredients navigate an intricate supply chain, eventually reaching food and beverage manufacturers. These manufacturers, attuned to the burgeoning demand for whey protein ingredients, incorporate these specialized ingredients into a diverse array of consumer goods.

5.2.2 MANUFACTURERS

Manufacturers, situated at the heart of this market, are instrumental in transforming these specialized ingredients into a diverse array of whey protein ingredients. These manufacturers often invest in state-of-the-art facilities and technology to ensure product quality and consistency. Their adaptability to meet evolving manufacturers preferences for natural and organic options has been a driving force behind the market's sustained growth. Manufacturers are continuously innovating to deliver products that meet dietary and fitness goals. Manufacturers cater to diverse end-users in sectors such as the food and beverage industry and nutritional industry who incorporate whey protein ingredients into a wide range of products. Through collaborative efforts, they optimize production, distribution, and accessibility, ensuring a seamless supply chain. The strategic alignment of manufacturers in the Asia-Pacific region positions it as a significant global player, responding adeptly to evolving market trends. This cohesive approach not only enhances the efficiency of the supply chain but also reinforces the region's prominence in delivering cutting-edge whey protein ingredient solutions. As manufacturers continue to innovate and tailor their products to specific end-user requirements, the Asia-Pacific whey protein ingredients market remains at the forefront of driving advancements and sustained growth, solidifying its strategic importance in the global protein ingredient landscape.

5.2.3 DISTRIBUTION CHANNEL

In the thriving Asia-Pacific whey protein ingredients market, manufacturers serve as pivotal entities, strategically aligning with distribution channels to meet the diverse needs of end-users. This dynamic collaboration encompasses a robust network of manufacturers positioned strategically to capitalize on the region's escalating demand for high-quality protein ingredients. The synergy between manufacturers and distribution channels is essential for ensuring the efficient flow of whey protein ingredients across the supply chain. Manufacturers and distribution channels work in tandem to optimize production, streamline logistics, and enhance market reach, ensuring a seamless and responsive supply chain. The interplay between these stakeholders not only fuels the market's growth but also positions the Asia-Pacific region as a key player globally. The collaborative ecosystem fosters advancements in processing technologies, quality assurance, and customized product offerings. As manufacturers and distribution channels innovate to cater to specific end-user needs, the Asia-Pacific region remains at the forefront of delivering cutting-edge solutions. This strategic alignment underscores the region's significance in shaping the trajectory of the whey protein ingredients market, with its dynamic interplay fostering continuous advancements and sustained growth. The cohesive efforts of manufacturers and distribution channels reinforce the market's adaptability to evolving trends, ensuring that high-quality whey protein ingredients reach end-users efficiently across diverse applications and sectors.

5.2.4 END USER

The Asia-Pacific whey protein ingredients market has witnessed substantial growth in recent years, driven by rising health and fitness awareness. With a robust network of manufacturers strategically positioned to capitalize on the region's growing demand for high-quality protein ingredients, the market has witnessed significant expansion. Manufacturers contribute to a dynamic supply chain that emphasizes efficient production, distribution, and collaboration among stakeholders. This ensures a seamless flow of whey protein ingredients to end-users, spanning the food and beverage industry, and Nutraceutical Industry. The symbiotic relationship between manufacturers and end-users drives advancements in processing technologies, quality assurance, and product customization. This collaborative ecosystem not only fuels the market's growth but also positions the Asia-Pacific region as a key player in the global whey protein ingredient landscape, responding adeptly to evolving market trends and consumer preferences.

5.3 PORTER’S FIVE FORCES MODEL

Michael Porter’s five forces model is a framework to study the Asia-Pacific whey protein ingredients market. Strategic business managers trying to gain an edge over competing firms in the Asia-Pacific whey protein ingredients market can utilize this model to better comprehend the industry in which the firm operates. The components of each of the forces and the degree of impact of each component in the context of the Asia-Pacific whey protein ingredients market have been broken down and analyzed.

FIGURE 7 PORTER’S FIVE FORCES ANALYSIS: ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET

Source: MRFR Analysis

5.3.1 THREAT OF NEW ENTRANTS

Asia-Pacific whey protein ingredients market, the threat of new entrants is relatively high. This can be attributed to several factors:

Growing demand: The whey protein ingredients market in Asia-Pacific is experiencing a significant growth due to the increasing awareness about the health benefits of whey protein and the rising demand for nutritional and sports supplements. This presents an attractive opportunity for new players to enter the market and tap into the growing demand.

Ease of market entry: The whey protein ingredients market does not require heavy capital investment or complex manufacturing processes. The production of whey protein involves the extraction and processing of whey, which can be done using existing equipment and facilities. This ease of entry encourages new players to enter the market and compete with established companies.

Availability of raw materials: Asia-Pacific is a major producer of milk and dairy products, which are the primary raw materials for whey protein ingredients. The availability of these raw materials in the region allows new entrants to easily source and produce whey protein ingredients, reducing the barriers to entry.

Increasing competition: The Asia-Pacific whey protein ingredients market is highly competitive, with several established players and brands already operating in the region. This creates intense competition among existing players and makes it challenging for new entrants to gain market share. However, innovative products, competitive pricing, and effective marketing strategies can help new entrants differentiate themselves and gain a foothold in the market.

Despite the relatively high threat of new entrants, established companies in the Asia-Pacific whey protein ingredients market have the advantage of economies of scale, established distribution networks, and brand recognition. These factors make it difficult for new players to compete directly with established companies, especially in terms of price competitiveness. Nonetheless, new entrants can still find opportunities in niche markets or by focusing on product differentiation strategies.

5.3.2 BARGAINING POWER OF SUPPLIERS

Asia-Pacific whey protein ingredients market, the bargaining power of suppliers is notably moderate. This can be attributed to several factors:

Availability of Alternative Suppliers: There are multiple suppliers of whey protein ingredients in the Asia-Pacific region, offering a wide range of products and variations. This provides buyers with options and reduces their dependency on any supplier, which ultimately decreases the bargaining power of suppliers.

Growing Demand: The demand for whey protein ingredients is steadily increasing in the Asia-Pacific region due to the rising demand of whey protein ingredient-based products across the region. This increasing demand creates a competitive market where suppliers are willing to negotiate prices and terms to secure long-term contracts with buyers.

Market Competition: The Asia-Pacific region has several established and emerging suppliers of whey protein ingredients. This competition makes it challenging for suppliers to exert significant control over the market, as buyers can easily switch to other suppliers if they offer better terms or prices.

Raw Material Availability: Whey protein ingredients are derived from milk, and the availability of milk is generally stable in the Asia-Pacific region due to the presence of major milk-producing countries such as New Zealand, Australia, and China. A steady supply of raw materials reduces the supplier's power to dictate prices and influences.

Price Volatility: The cost of raw materials, such as milk, can be subject to price fluctuations due to factors like weather conditions, feed prices, and market demand. This volatility in input prices reduces the supplier's control over pricing, as buyers may leverage alternative options if prices become unfavorable.

Overall, while suppliers in the Asia-Pacific whey protein ingredients market have some influence, the moderate bargaining power stems from factors such as availability of alternative suppliers, growing demand, market competition, raw material availability, and price volatility.

5.3.3 THREAT OF SUBSTITUTES

In the Asia-Pacific whey protein ingredients market, the threat of substitutes remains notably moderate. Whey protein ingredients are widely used in various applications, including sports nutrition, infant formula, bakery, beverages, and confectionery. These ingredients are known for their high nutritional value, amino acid content, and easy digestibility, making them highly sought after in the food and beverage industry.

Several factors contribute to the moderate threat of substitutes in the market. Firstly, whey protein is derived from milk and is a natural source of protein, which gives it an advantage over substitutes present in the market. Whey protein contains all nine essential amino acids, making it a complete protein source that is difficult to replicate with substitutes.

Additionally, the functionality of whey protein ingredients, such as emulsification, gelling, and foaming, is unmatched by many substitutes. These functionalities are crucial in various food and beverage applications, including texture improvement, stability enhancement, and flavor enhancement. Substitutes may not offer the same range of functionalities or may need to rely on additional ingredients to achieve similar results.

Overall, while the threat of substitutes in the Asia-Pacific whey protein ingredients market is currently moderate, the unique nutritional profile, functionality, and health benefits of whey protein ingredients provide a strong market position. Manufacturers and suppliers must continually innovate and differentiate their products to maintain their competitive advantage in the face of potential substitutes.

5.3.4 BARGAINING POWER OF BUYERS

Asia-Pacific whey protein ingredients market, the bargaining power of buyers is moderate. One factor contributing to the moderate bargaining power of buyers is the large number of suppliers in the market. There are several manufacturers and distributors of whey protein ingredients in the Asia-Pacific region, giving buyers various options to choose from. This competitive landscape forces suppliers to be responsive to buyer demands and offer competitive pricing and quality to attract customers.

Additionally, buyers in the Asia-Pacific region have become more knowledgeable and aware of the health benefits and applications of whey protein ingredients. This increased awareness has led to a greater demand for high-quality products, forcing suppliers to meet buyer expectations in terms of product quality, safety, and functionality.

On the other hand, buyers in the Asia-Pacific whey protein ingredients market face certain limitations that prevent them from exerting strong bargaining power. These include:

Limited availability of alternative products: Whey protein is a commonly used ingredient in various industries such as food and beverages, pharmaceuticals, and sports nutrition. Buyers may have limited alternatives to replace whey protein ingredients with, reducing their ability to negotiate favorable terms.

Dependence on suppliers: Buyers often rely on a few key suppliers for their whey protein ingredient requirements. This dependence can weaken their bargaining power as they may be at the mercy of these suppliers for consistent supply and competitive pricing.

Price volatility: The price of whey protein ingredients can be subject to fluctuations due to factors such as supply and demand dynamics, global market conditions, and currency exchange rates. This can limit the bargaining power of buyers as they may have limited control over price negotiations.

Overall, while buyers in the Asia-Pacific whey protein ingredients market have some influence, it is considered moderate due to the presence of numerous suppliers and limited alternatives. However, their power can be strengthened through informed decision-making and seeking long-term partnerships with reliable suppliers.

5.3.5 INTENSITY OF RIVALRY

Asia-Pacific whey protein ingredients market is characterized by a moderate intensity of rivalry among industry participants. There are several factors contributing to this level of rivalry:

Presence of Numerous Players: The market has a large number of players offering whey protein ingredients. This leads to increased competition and rivalry among them to gain market share and attract customers.

Increasing Demand: The demand for whey protein ingredients is growing rapidly in the Asia-Pacific region due to the rising health consciousness and demand for whey protein ingredient based functional food and beverages. This attracts more players to enter the market, intensifying the competition.

Price Competition: Price is an essential factor that influences customers' purchasing decisions. Players in the market often engage in price wars to capture market share, which further intensifies rivalry.

Overall, the Asia-Pacific whey protein ingredients market is characterized by a moderate intensity of rivalry among industry participants. The presence of numerous players, increasing manufacturer demand, and product differentiation contribute to this level of competition. Companies that can effectively differentiate their products and implement successful marketing strategies stand to gain a competitive advantage in this market.

5.4 IMPACT OF COVID-19 ON THE ASIA-PACIFIC WHEY PROTEIN INGREDIENTS

5.4.1 IMPACT ON SUPPLY CHAIN

The Asia-Pacific whey protein ingredients market encountered substantial challenges in its supply chain due to the far-reaching impact of the COVID-19 pandemic. Supply chain disruptions rippled through the industry, affecting the sourcing, production, and distribution of whey protein ingredients.

• Raw Material Sourcing: The pandemic disrupted global supply chains, leading to delays in the sourcing of raw materials critical to producing whey protein ingredients. The primary raw material for whey protein is milk. During the pandemic, disruptions occurred in the milk supply chain due to labor shortages on dairy farms, transportation challenges, and processing facility shutdowns. These disruptions affected the availability of raw milk for whey protein production. Borders closures, transportation bottlenecks, and labor shortages hindered the timely procurement of ingredients.

• Production Delays: Manufacturing facilities faced workforce shortages and social distancing requirements, affecting production capacities. This resulted in delays in the production of whey protein ingredients, causing bottlenecks in the supply chain.

• Logistical Challenges: Shipping and logistics were severely impacted as well, with disruptions in the timely delivery of ingredients to manufacturers. Delays in cargo shipments, port congestion, and increased shipping costs added to the challenges.

• Quality Control: Maintaining consistent quality standards became more challenging during the pandemic. Ingredient manufacturers had to adapt to new safety protocols and quality control measures, potentially affecting the supply of high-quality whey protein ingredients.

• Regulatory Changes: Regulatory agencies introduced new guidelines and safety measures to ensure the safety of food and dietary supplements during the pandemic. These changes required ingredient suppliers to adjust their processes and documentation, contributing to supply chain complexities.

Despite these challenges, the whey protein ingredients market demonstrated resilience. Manufacturers and suppliers adapted by diversifying their sourcing strategies, investing in technology to improve supply chain visibility, and streamlining their production processes. Additionally, the increased consumer demand for immune health products incentivized innovation and collaboration throughout the supply chain.

5.4.2 IMPACT ON KEY PLAYERS

The main target for the companies in this COVID-19 situation would be to provide products to the client base at a minimal price or at least with the same pricing for whey protein ingredients products. This may come as a challenge for the market players as their expenditures are allegedly rising, owing to the COVID-19 pandemic, as sanitization & hygiene standards in the organization, additional benefits are given to the employees keeping in mind the pandemic situation and others increasing the cost. Moreover, due to stricter lockdown measures in several countries, many companies have shifted temporarily to remote working, which has hampered their services. Furthermore, adhering to new safety protocols and maintaining manufacturing and distribution operations during the pandemic presented operational challenges. Key players had to implement safety measures to protect their employees while ensuring continued product availability.

5.4.3 IMPACT ON WHEY PROTEIN INGREDIENTS CONSUMERS

The COVID-19 pandemic has had a significant impact on whey protein ingredient consumers such as food and beverages manufacturers, nutritional and supplement manufacturers, and sports and fitness nutritional product manufacturers.

Food and beverages manufacturers: The pandemic has disrupted supply chains and caused logistical challenges across the region which has resulted in difficulties in sourcing whey protein ingredients to food and beverages manufacturers to manufacture whey protein ingredient-based food and beverages. Additionally, the closure of restaurants, hotels, and other foodservice establishments has led to a decline in demand for whey protein ingredients based processed foods and beverages, which further led to decline in the demand of whey protein ingredients.

Nutritional and supplement manufacturers: With the pandemic increasing awareness of the importance of maintaining a healthy immune system, there has been a surge in demand for nutritional and dietary supplements. This has positively affected the demand for whey protein ingredients which are being incorporated to manufacture nutritional and dietary supplements. However, the supply chain disruptions have also impacted the availability of these ingredients, leading to price fluctuations and potential shortages.

Sports and fitness nutritional product manufacturers: The closure of gyms, fitness centers, and sporting events during the pandemic has resulted in a decline in demand for sports and fitness nutritional products that contain whey protein ingredients which has led to decline in the demand of overall whey protein ingredients. As, many individuals have shifted their exercise routines to home-based workouts or outdoor activities, reducing the need for these products. Economic uncertainty and reduced disposable income have also influenced consumers' purchasing decisions, impacting the sales of these products. Overall, while the pandemic has affected whey protein ingredient consumers across various industries, the extent of the impact varies depending on the specific sector.

6 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY TYPE

6.1 OVERVIEW

Based on type, the Asia-Pacific whey protein ingredients market has been segmented into whey protein isolates, whey protein concentrates, and whey protein hydrolysates. The Whey Protein Concentrates segment held the largest market share in 2022 is the fastest-growing segment during the forecast period i.e., 2023 -2030.

Whey protein isolate (WPI) is a highly refined version of whey protein, a protein naturally found in milk. It's produced by filtering out most of the fat, lactose, and other non-protein components from whey, leaving behind a concentrated protein powder. This filtration process typically results in a powder that's at least 90% protein, making it an excellent source of essential amino acids for building and repairing muscle. The key factor that drives the growth of whey protein isolate is expanding application in various industries.

Expanding applications in various industries: Whey protein isolates are not only used in sports nutrition products but are also finding applications in the food and bakery industry. They are used as functional ingredients in products such as protein bars, shakes and baked goods. The versatility of whey protein isolates makes them an attractive choice for manufacturers in various sectors, driving the growth of the market. Agropur (Canada), Lactalis Ingredients (France), DMK Group (Germany), and Arla Foods Ingredients Group P/S (Denmark) are actively manufacturing whey protein isolates in the Asia-Pacific region. They supply these isolates to companies operating in the food and beverage industries. By meeting the increasing consumer demand for such products, these companies play a pivotal role in driving the market's growth. Moreover, the Asia-Pacific’s population is expanding, alongside a rising number of individuals entering advanced age. They need high-quality protein to maintain their health and well-being, and whey protein isolate can satisfy the growing demand for protein among Asia-Pacific population as well as in geriatric population. Also, Agropur (Canada) reported that the old age population leads to extensive health concerns including loss of muscles (sarcopenia) loss of bone mass (osteoporosis). High-quality, easily digestible protein, such as whey protein, is an excellent source of protein for healthy aging. The increasing geriatric population in Asia-Pacific will create lucrative growth opportunities in upcoming years. As per the Asia-Pacific Report on Population Ageing 2022, there were approximately 670 million people aged 60 or older in Asia-Pacific in 2022. Also, it has been estimated that the number will double to approximately 1.3 billion people by 2050 in Asia-Pacific.

Whey protein concentrate is a type of ingredient that is derived from milk during the process of cheese production. It contains a high concentration of proteins, typically ranging from 70-80% depending on the product. The key factors driving the growth of market are mentioned below:

Growing health consciousness: The growing health consciousness among consumers is driving the growth of the whey protein concentrates ingredient market. Whey protein concentrates are known for their high protein content, as well as their low lactose and fat content, making them an attractive choice for health-conscious individuals.

In recent years, there has been an increasing focus on maintaining a healthy lifestyle and adopting a balanced diet. Whey protein concentrates are seen as a convenient and effective way to supplement protein intake, especially for those who are involved in physical activities or are looking to build muscle. Moreover, with the rise in popularity of whey protein concentrate bases fitness and sports nutrition products has demand for whey protein concentrates which further drives the growth of market.

Increasing popularity of sports nutrition: Sports nutrition has gained considerable popularity, not just among athletes but also among the general population looking to enhance their athletic performance and endurance. Whey protein concentrates are a prominent ingredient in many sports nutrition products due to their superior amino acid composition and ability to support muscle development and recovery. Thus, the increasing popularity of whey protein-based sport nutrition products increase the demand of whey protein concentrates which drives the growth of market. Furthermore, Carbery (UK) reported that its whey-based ingredients, including whey protein concentrates, are used in nutritional applications including infant formula, sports nutrition, and clinical nutrition, and its potential customers were from Asian countries including India, Japan, and China in 2022. Also, in September 2020, DV Nutrition (Netherlands) and Wheyco (Switzerland) merged under the umbrella of the DMK Group (Germany) and named Wheyco Netherlands VOF (Netherlands). This merger was formed especially to expand the whey protein-based ingredient market, including whey protein concentrates, into Asian countries because the demand for this product is high due to its application in baby food, clinical nutrition, and food applications in Asia.Wheyco Netherlands VOF product portfolios have been coordinated so that DVN products can be supplied to growth markets, including Asia.

Furthermore, the whey protein hydrolysates have antioxidant, antimicrobial, and antihypertensive properties. The demand for whey protein hydrolysates is increasing among people who are more inclined toward weight management. The increasing demand for whey protein hydrolysates (WPH) among weight-conscious individuals can be attributed to several factors:

Enhanced Satiety and Appetite Control: WPH boasts faster absorption compared to regular whey protein. This rapid absorption triggers satiety hormones more quickly, leading to feelings of fullness that last longer and potentially reducing overall calorie intake throughout the day.

Studies suggest that WPH intake before meals can lead to decreased calorie consumption due to increased satiety, potentially aiding in weight management efforts.

Muscle Mass Preservation and Metabolism Boost: WPH can help preserve muscle mass during weight loss, which is crucial for maintaining a healthy metabolism and burning more calories at rest. This muscle-sparing effect prevents the "skinny-fat" look while supporting weight loss goals. For instance, according to the Arla Foods Ingredients Group P/S (Denmark) is a global leader in value-added whey solutions said that numerous scientific studies suggest that incorporating diets rich in proteins, particularly high-quality proteins such as whey, can have a positive impact on weight control and the overall composition of the body. This includes reducing body fat and/or preserving muscle mass. In addition, the company also mention that whey protein aids in diminishing body weight, waist circumference, and fat mass while safeguarding lean body mass in the process of weight loss.

Also, it is beneficial for patients who are suffering from heart diseases because dietary supplements with whey protein are known to improve systemic vascular resistance, arterial stiffness in overweight and obese individuals, and blood pressure. Additionally, the impairment of endothelial function is a widely recognized aspect of the underlying mechanisms of heart failure (HF). The Brazilian Journal of Medical and Biological Research (Brazil) published a report in 2021 stating that whey protein supplementation improves microvascular endothelial function and also improves smooth muscle structure in heart failure patients. In addition, as a healthy ingredient, whey protein is gaining momentum among diseased populations, including obese and heart patients, and the rise in demand for whey protein ingredient-based products increases the demand for whey protein among whey protein ingredient-based product manufacturers such as nutraceuticals and beverages.

Therefore, increasing demand for whey products in India and China and more focus on strategic alliances such as collaboration and product launches are fostering the growth of the market.

FIGURE 8 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, TYPE SEGMENT ATTRACTIVENESS, 2018-2030 (USD MILLION)

Please Note: The above-mentioned scale up players we are referring again to B2B ingredient Manufacturers.

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

FIGURE 9 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2022 & 2030 (USD MILLION)

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

FIGURE 10 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET SAHRE, BY TYPE, (%) 2022

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 2 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (USD MILLION)

Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Whey Protein Isolates xx xx xx xx 1,987.64 xx xx xx

Whey Protein Concentrates xx xx xx xx 2,169.90 xx xx xx

Whey Protein Hydrolysates xx xx xx xx 1,307.78 xx xx xx

Total xx xx xx xx 5,465.31 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 3 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018-2030 (VOLUME IN TONS)

Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Whey Protein Isolates xx xx xx xx 74,636.34 xx xx xx

Whey Protein Concentrates xx xx xx xx 90,150.59 xx xx xx

Whey Protein Hydrolysates xx xx xx xx 45,072.17 xx xx xx

Total xx xx xx xx 2,09,859.11 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

6.2 WHEY PROTEIN ISOLATES

TABLE 4 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN ISOLATES, BY COUNTRY, 2018-2030 (USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 619.17 xx xx xx

India xx xx xx xx 240.40 xx xx xx

Japan xx xx xx xx 332.69 xx xx xx

Australia xx xx xx xx 259.34 xx xx xx

South Korea xx xx xx xx 107.70 xx xx xx

Singapore xx xx xx xx 88.39 xx xx xx

Indonesia xx xx xx xx 71.57 xx xx xx

Thailand xx xx xx xx 59.29 xx xx xx

Philippines xx xx xx xx 52.66 xx xx xx

Malaysia xx xx xx xx 35.08 xx xx xx

Vietnam xx xx xx xx 22.03 xx xx xx

Taiwan xx xx xx xx 15.91 xx xx xx

Rest of Asia-Pacific xx xx xx xx 83.43 xx xx xx

Total xx xx xx xx 1,987.64 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 5 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN ISOLATES, BY COUNTRY, 2018-2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 32,463.35 xx xx xx

India xx xx xx xx 27,319.02 xx xx xx

Japan xx xx xx xx 3,170.13 xx xx xx

Australia xx xx xx xx 2,413.96 xx xx xx

South Korea xx xx xx xx 1,804.36 xx xx xx

Singapore xx xx xx xx 1,798.03 xx xx xx

Indonesia xx xx xx xx 1,046.01 xx xx xx

Thailand xx xx xx xx 1,477.98 xx xx xx

Philippines xx xx xx xx 1,255.08 xx xx xx

Malaysia xx xx xx xx 592.75 xx xx xx

Vietnam xx xx xx xx 307.23 xx xx xx

Taiwan xx xx xx xx 204.97 xx xx xx

Rest of Asia-Pacific xx xx xx xx 783.48 xx xx xx

Total xx xx xx xx 74,636.34 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

6.3 WHEY PROTEIN CONCENTRATES

TABLE 6 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN CONCENTRATES,

BY COUNTRY, 2018-2030 (USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 433.66 xx xx xx

India xx xx xx xx 309.56 xx xx xx

Japan xx xx xx xx 413.52 xx xx xx

Australia xx xx xx xx 324.39 xx xx xx

South Korea xx xx xx xx 134.71 xx xx xx

Singapore xx xx xx xx 113.05 xx xx xx

Indonesia xx xx xx xx 93.07 xx xx xx

Thailand xx xx xx xx 77.10 xx xx xx

Philippines xx xx xx xx 68.54 xx xx xx

Malaysia xx xx xx xx 45.66 xx xx xx

Vietnam xx xx xx xx 27.76 xx xx xx

Taiwan xx xx xx xx 20.38 xx xx xx

Rest of Asia-Pacific xx xx xx xx 108.49 xx xx xx

Total xx xx xx xx 2,169.90 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, and MRFR Analysis

TABLE 7 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN CONCENTRATES,

BY COUNTRY, 2018-2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 28,243.42 xx xx xx

India xx xx xx xx 35,178.05 xx xx xx

Japan xx xx xx xx 6,326.28 xx xx xx

Australia xx xx xx xx 4,332.37 xx xx xx

South Korea xx xx xx xx 2,797.15 xx xx xx

Singapore xx xx xx xx 3,072.04 xx xx xx

Indonesia xx xx xx xx 1,953.49 xx xx xx

Thailand xx xx xx xx 2,868.66 xx xx xx

Philippines xx xx xx xx 2,098.22 xx xx xx

Malaysia xx xx xx xx 704.16 xx xx xx

Vietnam xx xx xx xx 618.60 xx xx xx

Taiwan xx xx xx xx 494.96 xx xx xx

Rest of Asia-Pacific xx xx xx xx 1,463.20 xx xx xx

Total xx xx xx xx 90,150.59 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

6.4 WHEY PROTEIN HYDROLYSATES

TABLE 8 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN HYDROLYSATES,

BY COUNTRY, 2018-2030 (USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 328.85 xx xx xx

India xx xx xx xx 172.41 xx xx xx

Japan xx xx xx xx 234.80 xx xx xx

Australia xx xx xx xx 184.01 xx xx xx

South Korea xx xx xx xx 76.41 xx xx xx

Singapore xx xx xx xx 62.57 xx xx xx

Indonesia xx xx xx xx 52.21 xx xx xx

Thailand xx xx xx xx 43.25 xx xx xx

Philippines xx xx xx xx 38.50 xx xx xx

Malaysia xx xx xx xx 25.98 xx xx xx

Vietnam xx xx xx xx 16.01 xx xx xx

Taiwan xx xx xx xx 11.91 xx xx xx

Rest of Asia-Pacific xx xx xx xx 60.86 xx xx xx

Total xx xx xx xx 1,307.78 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India and MRFR Analysis

TABLE 9 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR WHEY PROTEIN HYDROLYSATES,

BY COUNTRY, 2018-2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 14,938.14 xx xx xx

India xx xx xx xx 19,592.98 xx xx xx

Japan xx xx xx xx 2,249.31 xx xx xx

Australia xx xx xx xx 1,759.07 xx xx xx

South Korea xx xx xx xx 931.26 xx xx xx

Singapore xx xx xx xx 2,236.80 xx xx xx

Indonesia xx xx xx xx 653.16 xx xx xx

Thailand xx xx xx xx 757.57 xx xx xx

Philippines xx xx xx xx 727.88 xx xx xx

Malaysia xx xx xx xx 337.03 xx xx xx

Vietnam xx xx xx xx 237.70 xx xx xx

Taiwan xx xx xx xx 162.04 xx xx xx

Rest of Asia-Pacific xx xx xx xx 489.23 xx xx xx

Total xx xx xx xx 45,072.17 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

7 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY APPLICATION

7.1 OVERVIEW

Based on application, the Asia-Pacific whey protein ingredients market has been segmented into dairy & frozen desserts, bakery & confectionery, beverages, dietary supplements, nutrition supplements, and others. Moreover, the nutrition supplements further segmented into medical nutrition, sports nutrition, food (Protein Bars & Cereals) and infant formula. The nutritional supplements segment held the largest market share in 2022 and beverages is the fastest-growing segment during the forecast period i.e., 2023 -2030.

Dairy and Frozen Desserts

The increase in demand for whey protein-based dairy and frozen desserts across the region is a key driver of the growth of the whey protein ingredients market. One the main factor is Rising consumer awareness about health and wellness: There is a growing awareness among consumers about the importance of a balanced diet and the role of protein in supporting overall health and fitness. Whey protein, being a high-quality protein source, is widely recognized for its nutritional benefits. This increased awareness is driving the demand for whey protein-based dairy and frozen desserts which in turn increase the demand of whey protein ingredients among the consumers who manufactures whey protein-based whey protein-based dairy and frozen desserts.Furthermore, consumers are seeking alternatives to traditional dairy and frozen desserts that offer higher protein content, better taste, and improved health benefits.

Bakery & Confectionery

The key factor driving the growth of market are Expansion of the functional food market: The demand for functional foods, which offer additional health benefits beyond basic nutrition, is on the rise. Whey protein ingredients, known for their functional properties such as emulsification, water-binding, and foaming, can enhance the texture, shelf life, and overall quality has led to incorporation of whey protein ingredients in Bakery & Confectionery products. Thus, expansion of the functional food market is driving the adoption of whey protein ingredients in the bakery and confectionery industry. Furthermore, whey protein ingredient manufacturers are expanding their presence in the Asia-Pacific countries in order to supply whey protein ingredients to meet consumers' needs, which includes manufacturing bakery products. For instance, in 2019, Lactalis Ingredients (France) opened its subsidiary Lactalis Ingredients China and structurally fully supports the Chinese market. Lactalis Ingredients China aimed to develop its whey protein ingredient offer to support the Chinese demand for bakery products.

Beverages

The high demand for whey protein ingredients among the sports industry for beverages is indeed a significant driver of market growth. Here are the reasons why this demand is contributing to the growth of the whey protein ingredients market. For instance, sports industry is increasingly recognizing the benefits of incorporating whey protein into their diets. Whey protein is highly regarded for its high biological value, containing all the essential amino acids necessary for muscle recovery and growth which has led to increased demand for whey protein ingredients among the beverages manufacturers.

Dietary Supplements

Dietary supplements refer to supplements that contain vitamins, minerals, and amino acids. These supplements are intended to complement or enhance an individual's diet. Dietary supplements come in different forms, including capsules, tablets, powders, liquids, and gummies. The key factors that drive the growth of market are mentioned below:

The increase in the prevalence of diabetes, heart disease, and others has led to a growing demand for dietary supplements, including whey protein ingredients. Here's how these health conditions drive the growth of the whey protein ingredients-based dietary supplements market:

Diabetes: Diabetes is a chronic condition that affects the body's ability to regulate blood sugar levels. People with diabetes often need to manage their carbohydrate intake and maintain a healthy weight. Whey protein, which is low in carbohydrates and high in protein, can be an effective dietary supplement for individuals with diabetes. It helps in managing blood sugar levels, promoting satiety, and supporting muscle health. For instance, according to NCBI in 2023, Milk-derived whey proteins can produce insulin secretion in obese, pre-diabetic, and also type 2 diabetes individuals. Studies in humans have shown that whey protein decreases postprandial glycemia and could be used in medical/nutritional therapy to regulate blood sugar. Furthermore, according to NCBI studies whey consumption has also been shown to decrease blood sugar level.

Heart Disease: Heart disease is a leading cause of death worldwide, and maintaining heart health is crucial. Whey protein has been shown to have several cardiovascular benefits, including reducing blood pressure, improving blood lipid profiles, and reducing inflammation. These benefits make whey protein ingredients-based dietary supplements a popular choice for individuals looking to support heart health. For instance, according to the international journal advanced biotechnology and research high blood pressure (hypertension) is one of the leading heart diseases and it may cause stroke and whey protein ingredients helps to fight against the hypertension. The increasing awareness of the role of nutrition in managing these health conditions, coupled with the proven benefits of whey protein ingredients, has driven the growth of the whey protein ingredients-based dietary supplements market. Consumers are seeking natural and effective ways to support their health, and whey protein supplements provide a convenient and accessible option.

FIGURE 11 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, APPLICATION SEGMENT ATTRACTIVENESS, 2018-2030 (USD MILLION)

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

FIGURE 12 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY APPLICATION, 2022 & 2030 (USD MILLION)

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

FIGURE 13 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET SHARE, BY APPLICATION, (%) 2022

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 10 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR APPLICATION, 2018-2030 (USD MILLION)

Application 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Dairy & Frozen Desserts xx xx xx xx 846.34 xx xx xx

Bakery & Confectionery xx xx xx xx 473.60 xx xx xx

Beverages xx xx xx xx 1,014.34 xx xx xx

Dietary Supplement xx xx xx xx 1,240.30 xx xx xx

Nutritional supplements xx xx xx xx 1,590.00 xx xx xx

Others xx xx xx xx 300.74 xx xx xx

Total xx xx xx xx 5,465.31 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 11 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY APPLICATION, 2018-2030 (VOLUME IN TONS)

Application 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Dairy & Frozen Desserts xx xx xx xx 32,500.31 xx xx xx

Bakery & Confectionery xx xx xx xx 18,268.54 xx xx xx

Beverages xx xx xx xx 39,040.73 xx xx xx

Dietary Supplement xx xx xx xx 47,547.89 xx xx xx

Nutritional supplements xx xx xx xx 61,042.31 xx xx xx

Others xx xx xx xx 11,459.33 xx xx xx

Total xx xx xx xx 2,09,859.11 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 12 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (USD MILLION)

Nutritional Supplements Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Infant Formula xx xx xx xx 230.00 xx xx xx

Sports Nutrition xx xx xx xx 672.87 xx xx xx

Medical Nutrition xx xx xx xx 380.78 xx xx xx

Food (Dairy & Bakery) xx xx xx xx 306.34 xx xx xx

Total xx xx xx xx 1,590.00 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 13 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018-2030 (VOLUME IN TONS)

Nutritional Supplements Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Infant Formula xx xx xx xx 11,745.64 xx xx xx

Sports Nutrition xx xx xx xx 19,864.13 xx xx xx

Medical Nutrition xx xx xx xx 16,127.09 xx xx xx

Food (Dairy & Bakery) xx xx xx xx 13,305.45 xx xx xx

Total xx xx xx xx 61,042.31 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 14 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR NUTRITION SUPPLEMENTS, BY COUNTRY, 2018-2030 (USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 401.06 xx xx xx

India xx xx xx xx 210.40 xx xx xx

Japan xx xx xx xx 285.74 xx xx xx

Australia xx xx xx xx 223.62 xx xx xx

South Korea xx xx xx xx 92.54 xx xx xx

Singapore xx xx xx xx 76.64 xx xx xx

Indonesia xx xx xx xx 63.23 xx xx xx

Thailand xx xx xx xx 52.38 xx xx xx

Philippines xx xx xx xx 46.67 xx xx xx

Malaysia xx xx xx xx 30.98 xx xx xx

Vietnam xx xx xx xx 19.23 xx xx xx

Taiwan xx xx xx xx 14.14 xx xx xx

Rest of Asia-Pacific xx xx xx xx 73.37 xx xx xx

Total xx xx xx xx 1,590.00 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis 

TABLE 15 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR NUTRITION SUPPLEMENTS, BY COUNTRY, 2018-2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 21,957.20 xx xx xx

India xx xx xx xx 23,910.10 xx xx xx

Japan xx xx xx xx 3,421.14 xx xx xx

Australia xx xx xx xx 2,477.34 xx xx xx

South Korea xx xx xx xx 1,605.98 xx xx xx

Singapore xx xx xx xx 2,062.89 xx xx xx

Indonesia xx xx xx xx 1,065.12 xx xx xx

Thailand xx xx xx xx 1,488.39 xx xx xx

Philippines xx xx xx xx 1,192.79 xx xx xx

Malaysia xx xx xx xx 474.28 xx xx xx

Vietnam xx xx xx xx 340.06 xx xx xx

Taiwan xx xx xx xx 252.90 xx xx xx

Rest of Asia-Pacific xx xx xx xx 794.14 xx xx xx

Total xx xx xx xx 61,042.31 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

7.2 DAIRY & FROZEN DESSERTS

TABLE 16 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR DAIRY & FROZEN DESSERTS, BY COUNTRY, 2018-2030 (USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 216.56 xx xx xx

India xx xx xx xx 111.05 xx xx xx

Japan xx xx xx xx 151.79 xx xx xx

Australia xx xx xx xx 118.74 xx xx xx

South Korea xx xx xx xx 49.97 xx xx xx

Singapore xx xx xx xx 40.48 xx xx xx

Indonesia xx xx xx xx 32.82 xx xx xx

Thailand xx xx xx xx 27.36 xx xx xx

Philippines xx xx xx xx 24.01 xx xx xx

Malaysia xx xx xx xx 16.73 xx xx xx

Vietnam xx xx xx xx 9.96 xx xx xx

Taiwan xx xx xx xx 7.25 xx xx xx

Rest of Asia-Pacific xx xx xx xx 39.62 xx xx xx

Total xx xx xx xx 846.34 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 17 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR DAIRY & FROZEN DESSERTS, BY COUNTRY, 2018-2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 11,856.08 xx xx xx

India xx xx xx xx 12,619.98 xx xx xx

Japan xx xx xx xx 1,817.45 xx xx xx

Australia xx xx xx xx 1,315.50 xx xx xx

South Korea xx xx xx xx 867.17 xx xx xx

Singapore xx xx xx xx 1,089.72 xx xx xx

Indonesia xx xx xx xx 552.77 xx xx xx

Thailand xx xx xx xx 777.54 xx xx xx

Philippines xx xx xx xx 613.54 xx xx xx

Malaysia xx xx xx xx 256.09 xx xx xx

Vietnam xx xx xx xx 176.08 xx xx xx

Taiwan xx xx xx xx 129.58 xx xx xx

Rest of Asia-Pacific xx xx xx xx 428.81 xx xx xx

Total xx xx xx xx 32,500.31 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral MRFR Analysis

7.3 BAKERY & CONFECTIONERY

TABLE 18 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR BAKERY & CONFECTIONERY, BY COUNTRY, 2018-2030 (USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 120.07 xx xx xx

India xx xx xx xx 63.50 xx xx xx

Japan xx xx xx xx 85.25 xx xx xx

Australia xx xx xx xx 66.56 xx xx xx

South Korea xx xx xx xx 27.71 xx xx xx

Singapore xx xx xx xx 22.24 xx xx xx

Indonesia xx xx xx xx 18.27 xx xx xx

Thailand xx xx xx xx 15.13 xx xx xx

Philippines xx xx xx xx 13.45 xx xx xx

Malaysia xx xx xx xx 9.36 xx xx xx

Vietnam xx xx xx xx 5.78 xx xx xx

Taiwan xx xx xx xx 4.29 xx xx xx

Rest of Asia-Pacific xx xx xx xx 22.00 xx xx xx

Total xx xx xx xx 473.60 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 19 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR BAKERY & CONFECTIONERY, BY COUNTRY, 2018-2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 6,573.54 xx xx xx

India xx xx xx xx 7,215.72 xx xx xx

Japan xx xx xx xx 1,020.70 xx xx xx

Australia xx xx xx xx 737.42 xx xx xx

South Korea xx xx xx xx 480.80 xx xx xx

Singapore xx xx xx xx 598.64 xx xx xx

Indonesia xx xx xx xx 307.68 xx xx xx

Thailand xx xx xx xx 429.94 xx xx xx

Philippines xx xx xx xx 343.77 xx xx xx

Malaysia xx xx xx xx 143.30 xx xx xx

Vietnam xx xx xx xx 102.24 xx xx xx

Taiwan xx xx xx xx 76.69 xx xx xx

Rest of Asia-Pacific xx xx xx xx 238.12 xx xx xx

Total xx xx xx xx 18,268.54 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

7.4 BEVERAGES

TABLE 20 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR BEVERAGES, BY COUNTRY, 2018-2030

(USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 256.35 xx xx xx

India xx xx xx xx 134.75 xx xx xx

Japan xx xx xx xx 181.03 xx xx xx

Australia xx xx xx xx 141.98 xx xx xx

South Korea xx xx xx xx 59.15 xx xx xx

Singapore xx xx xx xx 49.78 xx xx xx

Indonesia xx xx xx xx 40.88 xx xx xx

Thailand xx xx xx xx 33.87 xx xx xx

Philippines xx xx xx xx 30.11 xx xx xx

Malaysia xx xx xx xx 19.55 xx xx xx

Vietnam xx xx xx xx 11.97 xx xx xx

Taiwan xx xx xx xx 8.62 xx xx xx

Rest of Asia-Pacific xx xx xx xx 46.31 xx xx xx

Total xx xx xx xx 1,014.34 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis 

TABLE 21 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR BEVERAGES, BY COUNTRY, 2018-2030

( VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 14,034.65 xx xx xx

India xx xx xx xx 15,312.53 xx xx xx

Japan xx xx xx xx 2,167.48 xx xx xx

Australia xx xx xx xx 1,572.93 xx xx xx

South Korea xx xx xx xx 1,026.51 xx xx xx

Singapore xx xx xx xx 1,339.88 xx xx xx

Indonesia xx xx xx xx 688.65 xx xx xx

Thailand xx xx xx xx 962.31 xx xx xx

Philippines xx xx xx xx 769.44 xx xx xx

Malaysia xx xx xx xx 299.34 xx xx xx

Vietnam xx xx xx xx 211.61 xx xx xx

Taiwan xx xx xx xx 154.18 xx xx xx

Rest of Asia-Pacific xx xx xx xx 501.22 xx xx xx

Total xx xx xx xx 39,040.73 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

7.5 DIETARY SUPPLEMENTS

TABLE 22 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR DIETARY SUPPLEMENTS, BY COUNTRY, 2018-2030 (USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 311.15 xx xx xx

India xx xx xx xx 164.36 xx xx xx

Japan xx xx xx xx 224.85 xx xx xx

Australia xx xx xx xx 176.20 xx xx xx

South Korea xx xx xx xx 71.80 xx xx xx

Singapore xx xx xx xx 59.54 xx xx xx

Indonesia xx xx xx xx 48.91 xx xx xx

Thailand xx xx xx xx 40.51 xx xx xx

Philippines xx xx xx xx 36.02 xx xx xx

Malaysia xx xx xx xx 24.03 xx xx xx

Vietnam xx xx xx xx 14.97 xx xx xx

Taiwan xx xx xx xx 11.03 xx xx xx

Rest of Asia-Pacific xx xx xx xx 56.93 xx xx xx

Total xx xx xx xx 1,240.30 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis 

TABLE 23 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR DIETARY SUPPLEMENTS, BY COUNTRY, 2018-2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 17,035.23 xx xx xx

India xx xx xx xx 18,678.22 xx xx xx

Japan xx xx xx xx 2,692.12 xx xx xx

Australia xx xx xx xx 1,951.99 xx xx xx

South Korea xx xx xx xx 1,245.98 xx xx xx

Singapore xx xx xx xx 1,602.84 xx xx xx

Indonesia xx xx xx xx 823.80 xx xx xx

Thailand xx xx xx xx 1,151.17 xx xx xx

Philippines xx xx xx xx 920.44 xx xx xx

Malaysia xx xx xx xx 367.96 xx xx xx

Vietnam xx xx xx xx 264.74 xx xx xx

Taiwan xx xx xx xx 197.28 xx xx xx

Rest of Asia-Pacific xx xx xx xx 616.13 xx xx xx

Total xx xx xx xx 47,547.89 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

7.6 OTHERS

TABLE 24 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR OTHERS, BY COUNTRY, 2018-2030

(USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 76.50 xx xx xx

India xx xx xx xx 38.31 xx xx xx

Japan xx xx xx xx 52.35 xx xx xx

Australia xx xx xx xx 40.64 xx xx xx

South Korea xx xx xx xx 17.65 xx xx xx

Singapore xx xx xx xx 15.34 xx xx xx

Indonesia xx xx xx xx 12.74 xx xx xx

Thailand xx xx xx xx 10.38 xx xx xx

Philippines xx xx xx xx 9.44 xx xx xx

Malaysia xx xx xx xx 6.07 xx xx xx

Vietnam xx xx xx xx 3.89 xx xx xx

Taiwan xx xx xx xx 2.87 xx xx xx

Rest of Asia-Pacific xx xx xx xx 14.55 xx xx xx

Total xx xx xx xx 300.74 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis 

TABLE 25 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR OTHERS, BY COUNTRY, 2018-2030

( VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 4,188.21 xx xx xx

India xx xx xx xx 4,353.51 xx xx xx

Japan xx xx xx xx 626.83 xx xx xx

Australia xx xx xx xx 450.22 xx xx xx

South Korea xx xx xx xx 306.33 xx xx xx

Singapore xx xx xx xx 412.91 xx xx xx

Indonesia xx xx xx xx 214.65 xx xx xx

Thailand xx xx xx xx 294.85 xx xx xx

Philippines xx xx xx xx 241.20 xx xx xx

Malaysia xx xx xx xx 92.97 xx xx xx

Vietnam xx xx xx xx 68.80 xx xx xx

Taiwan xx xx xx xx 51.34 xx xx xx

Rest of Asia-Pacific xx xx xx xx 157.50 xx xx xx

Total xx xx xx xx 11,459.33 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

8 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, BY COUNTRY

8.1 OVERVIEW

Asia-Pacific is segmented into China, India, Japan, Australia, South Korea, Singapore, Indonesia, Thailand, the Philippines, Malaysia, Vietnam, Taiwan, and the rest of Asia-Pacific. India has seen an increase in health-conscious consumers in order to manage their weight, so there is an increasing population number with acceptance of whey-protein-based products to control their weight. Moreover, in January 2020, Lactalis Ingredients (France) reported that there was high demand for whey protein ingredient in order to manufacture infants’ formula in China. Moreover, it also stated that China is a dynamic market for drinkable yogurt, so it estimated that there will be opportunities for new products and experiment for Chinese dairy manufacturer, eventually will present flourishing opportunities for whey protein ingredient market players. Furthermore, increased consumption of whey protein ingredients—fortified whey protein based dairy products—will most likely drive growth in the Asia-Pacific countries. Similarly, in Australia, where more 24-hour gyms are opening, this means that people are more health conscious and turning for protein bars made with whey protein ingredients, which is presenting lucrative growth opportunities. As a result of this trend, the consumption of protein supplements, particularly those manufactured with whey protein ingredients is increasing during the forecast period.

FIGURE 14 ASIA-PACIFIC MARKET ANALYSIS: WHEY PROTEIN INGREDIENTS MARKET, 2018-2030

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

FIGURE 15 ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET SHARE (%), BY COUNTRY, 2022

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

FIGURE 16 ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET, BY COUNTRY, 2022 & 2030 (USD MILLION)

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 26 ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET, BY COUNTRY, 2018–2030 (USD MILLION)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 1,381.68 xx xx xx

India xx xx xx xx 722.37 xx xx xx

Japan xx xx xx xx 981.01 xx xx xx

Australia xx xx xx xx 767.74 xx xx xx

South Korea xx xx xx xx 318.82 xx xx xx

Singapore xx xx xx xx 264.02 xx xx xx

Indonesia xx xx xx xx 216.85 xx xx xx

Thailand xx xx xx xx 179.63 xx xx xx

Philippines xx xx xx xx 159.70 xx xx xx

Malaysia xx xx xx xx 106.71 xx xx xx

Vietnam xx xx xx xx 65.79 xx xx xx

Taiwan xx xx xx xx 48.21 xx xx xx

Rest of Asia-Pacific xx xx xx xx 252.78 xx xx xx

Total xx xx xx xx 5,465.31 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 27 ASIA-PACIFIC: WHEY PROTEIN INGREDIENTS MARKET, BY COUNTRY, 2018–2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China xx xx xx xx 75,644.91 xx xx xx

India xx xx xx xx 82,090.05 xx xx xx

Japan xx xx xx xx 11,745.72 xx xx xx

Australia xx xx xx xx 8,505.39 xx xx xx

South Korea xx xx xx xx 5,532.77 xx xx xx

Singapore xx xx xx xx 7,106.87 xx xx xx

Indonesia xx xx xx xx 3,652.66 xx xx xx

Thailand xx xx xx xx 5,104.21 xx xx xx

Philippines xx xx xx xx 4,081.18 xx xx xx

Malaysia xx xx xx xx 1,633.93 xx xx xx

Vietnam xx xx xx xx 1,163.54 xx xx xx

Taiwan xx xx xx xx 861.97 xx xx xx

Rest of Asia-Pacific xx xx xx xx 2,735.91 xx xx xx

Total xx xx xx xx 2,09,859.11 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

8.1.1 CHINA

TABLE 28 CHINA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION)

Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Whey Protein Isolates xx xx xx xx 619.17 xx xx xx

Whey Protein Concentrates xx xx xx xx 433.66 xx xx xx

Whey Protein Hydrolysates xx xx xx xx 328.85 xx xx xx

Total xx xx xx xx 1,381.68 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 29 CHINA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (VOLUME IN TONS)

Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Whey Protein Isolates xx xx xx xx 32,463.35 xx xx xx

Whey Protein Concentrates xx xx xx xx 28,243.42 xx xx xx

Whey Protein Hydrolysates xx xx xx xx 14,938.14 xx xx xx

Total xx xx xx xx 75,644.91 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 30 CHINA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION)

Application 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Dairy & Frozen Desserts xx xx xx xx 216.56 xx xx xx

Bakery & Confectionery xx xx xx xx 120.07 xx xx xx

Beverages xx xx xx xx 256.35 xx xx xx

Dietary Supplement xx xx xx xx 311.15 xx xx xx

Nutritional supplements xx xx xx xx 401.06 xx xx xx

Others xx xx xx xx 76.50 xx xx xx

Total xx xx xx xx 1,381.68 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 31 CHINA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (VOLUME IN TONS)

Application 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Dairy & Frozen Desserts xx xx xx xx 11,856.08 xx xx xx

Bakery & Confectionery xx xx xx xx 6,573.54 xx xx xx

Beverages xx xx xx xx 14,034.65 xx xx xx

Dietary Supplement xx xx xx xx 17,035.23 xx xx xx

Nutritional supplements xx xx xx xx 21,957.20 xx xx xx

Others xx xx xx xx 4,188.21 xx xx xx

Total xx xx xx xx 75,644.91 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 32 CHINA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION)

Nutritional Supplements Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Infant Formula xx xx xx xx 57.66 xx xx xx

Sports Nutrition xx xx xx xx 175.26 xx xx xx

Medical Nutrition xx xx xx xx 89.87 xx xx xx

Food (Dairy & Bakery) xx xx xx xx 78.27 xx xx xx

Total xx xx xx xx 401.06 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 33 CHINA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (VOLUME IN TONS)

Nutritional Supplements Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Infant Formula xx xx xx xx 4,181.66 xx xx xx

Sports Nutrition xx xx xx xx 7,106.81 xx xx xx

Medical Nutrition xx xx xx xx 5,761.68 xx xx xx

Food (Dairy & Bakery) xx xx xx xx 4,907.04 xx xx xx

Total xx xx xx xx 21,957.20 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

8.1.2 INDIA

TABLE 34 INDIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (USD MILLION)

Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Whey Protein Isolates xx xx xx xx 240.40 xx xx xx

Whey Protein Concentrates xx xx xx xx 309.56 xx xx xx

Whey Protein Hydrolysates xx xx xx xx 172.41 xx xx xx

Total xx xx xx xx 722.37 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 35 INDIA: WHEY PROTEIN INGREDIENTS MARKET, BY TYPE, 2018–2030 (VOLUME IN TONS)

Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Whey Protein Isolates xx xx xx xx 27,319.02 xx xx xx

Whey Protein Concentrates xx xx xx xx 35,178.05 xx xx xx

Whey Protein Hydrolysates xx xx xx xx 19,592.98 xx xx xx

Total xx xx xx xx 82,090.05 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 36 INDIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (USD MILLION)

Application 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Dairy & Frozen Desserts xx xx xx xx 111.05 xx xx xx

Bakery & Confectionery xx xx xx xx 63.50 xx xx xx

Beverages xx xx xx xx 134.75 xx xx xx

Dietary Supplement xx xx xx xx 164.36 xx xx xx

Nutritional supplements xx xx xx xx 210.40 xx xx xx

Others xx xx xx xx 38.31 xx xx xx

Total xx xx xx xx 722.37 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 37 INDIA: WHEY PROTEIN INGREDIENTS MARKET BY APPLICATION, 2018–2030 (VOLUME IN TONS)

Application 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Dairy & Frozen Desserts xx xx xx xx 12,619.98 xx xx xx

Bakery & Confectionery xx xx xx xx 7,215.72 xx xx xx

Beverages xx xx xx xx 15,312.53 xx xx xx

Dietary Supplement xx xx xx xx 18,678.22 xx xx xx

Nutritional supplements xx xx xx xx 23,910.10 xx xx xx

Others xx xx xx xx 4,353.51 xx xx xx

Total xx xx xx xx 82,090.05 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 38 INDIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (USD MILLION)

Nutritional Supplements Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Infant Formula xx xx xx xx 30.67 xx xx xx

Sports Nutrition xx xx xx xx 88.16 xx xx xx

Medical Nutrition xx xx xx xx 51.35 xx xx xx

Food (Dairy & Bakery) xx xx xx xx 40.22 xx xx xx

Total xx xx xx xx 210.40 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 39 INDIA: WHEY PROTEIN INGREDIENTS MARKET FOR NUTRITIONAL SUPPLEMENTS, BY TYPE, 2018–2030 (VOLUME IN TONS)

Nutritional Supplements Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Infant Formula xx xx xx xx 4,687.85 xx xx xx

Sports Nutrition xx xx xx xx 7,725.41 xx xx xx

Medical Nutrition xx xx xx xx 6,353.83 xx xx xx

Food (Dairy & Bakery) xx xx xx xx 5,143.00 xx xx xx

Total xx xx xx xx 23,910.10 xx xx xx

Sources: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

8.1.3 JAPAN

xx

8.1.4 AUSTRALIA

xx

8.1.5 SOUTH KOREA

xx

8.1.6 SINGAPORE

xx

8.1.7 INDONESIA

xx

8.1.8 THAILAND

xx

8.1.9 PHILIPPINES

xx

8.1.10 MALAYSIA

xx

8.1.11 VIETNAM

xx

8.1.12 TAIWAN

xx

8.1.13 REST OF ASIA-PACIFIC

xx

9 COMPETITIVE LANDSCAPE

9.1 OVERVIEW

The Asia Pacific whey protein ingredients market is distinguished by the presence of regional and local players. The rising demand for dietary supplements products, increasing fitness and sports nutrition trends, and increasing disposable income levels across the Asia-pacific region are further expected to drive the growth of the Asia Pacific whey protein ingredients market during the forecast period. However, the high cost of whey protein may hamper the growth of the Asia Pacific whey protein ingredients market. The major players have adopted a strategy of obtaining regulatory approval from government agencies for their products and signing contracts and agreements to broaden their reach and reduce product costs. For instance, in August 2023, Arla Foods Ingredients (Denmark) and Brenntag Group firm Zhongbai Xingye Food Technology (Beijing) Co., Ltd ("Zhongbai") have signed a distribution agreement to service the Chinese food and nutrition markets.

The Asia Pacific whey protein ingredients market is extremely competitive, with players competing, partnering, and investing heavily in R&D to gain a significant market share. The market is moderately fragmented with rising competition, product launches, increasing collaborative partnerships, and other strategic decisions to achieve operational efficiency.

The business model developed by manufacturers in the Asia Pacific whey protein ingredients market includes manufacturing advanced whey protein ingredients products. Mergers and collaborations were also observed to expand the company's product portfolio, as well as the introduction of new products. The growth of prominent industry players is dependent on various factors, such as market conditions, government support, and industry development. Key manufacturers are also focusing on investing in R&D activities. This will boost market growth in the upcoming future.

TABLE 40 MAJOR PLAYERS IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET

Sr.no Company

1 Carberry

2 Fonterra Co-operative Group Limited

3 Arla Foods Ingredients Group P/S

4 Kerry Group plc

5 Glanbia PLC

Source: Annual Report, Press Releases, Secondary Research, and MRFR Analysis

With respect to the current scope of the report, the major players are Fonterra Co-operative Group Limited, Arla Foods Ingredients Group P/S , Kerry Group plc , Glanbia PLC and Carberry. Other key players contributing to the market growth Morinaga Milk Industry Co. Ltd, LACTALIS Ingredients, Milk Specialties Global, DMK Group , and FrieslandCampina Ingredients.

9.2 COMPETITIVE BENCHMARKING

FIGURE 17 BENCHMARKING OF MAJOR COMPETITORS

Source: Annual Report, Press Releases, Secondary Research, and MRFR Analysis

9.3 MAJOR GROWTH STRATEGY IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET

FIGURE 18 MAJOR STRATEGY ADOPTED BY KEY PLAYERS IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET

Source: Company Websites, Annual Reports, and Press Releases

9.4 THE LEADING PLAYER IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET

TABLE 41 MOST ACTIVE PLAYER IN THE ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET

Company Name Product Launch Acquisition Agreement Expansion Total

FrieslandCampina Ingredients 1 0 0 0 1

Arla Foods Ingredients Group P/S 2 0 1 0 3

Glanbia PLC 0 1 0 0 1

Total 3 1 1 0 5

Source: Company Websites, Annual Reports, and Press Releases

9.5 KEY DEVELOPMENT ANALYSIS

FIGURE 19 ASIA PACIFIC WHEY PROTEIN INGREDIENTS MARKET: COMPETITIVE LANDSCAPE

Source: Company Website, Annual Report, and Press Releases

9.6 KEY DEVELOPMENTS & GROWTH STRATEGIES

9.6.1 PRODUCT LAUNCH

TABLE 42 PRODUCT LAUNCH

Date Company Name Development

November 2020 FrieslandCampina Ingredients FrieslandCampina Ingredients (Denmark) has unveiled a new high-concentration protein gel for sports nutrition brands. The application, which uses Nutri Whey Isolate Clear from the business, offers up to 15% protein content. It provides the same amount of protein in a smaller serving size as a 500 ml ready-to-drink beverage

April 2020 Arla Foods Ingredients Group P/S Arla Foods Ingredients (Denmark) introduced a clean-label idea to assist manufacturers in meeting China's rising demand for ambient yogurt. This is the first solution which employs Nutrilac YO-4575, a 100% natural whey protein, to elevate the premium positioning of unrefrigerated yogurts with all-natural components.

April 2019 Arla Foods Ingredients Group P/S Arla Foods Ingredients (Denmark) has started injecting fizz into the sports nutrition category with its new Lacprodan HYDRO.Clear. The advanced 100% whey protein hydrolysate solution is developed for formulating sparkling protein waters.

Source: Annual Report, Press Releases, and MRFR Analysis

9.6.2 ACQUISITION

TABLE 43 ACQUISITION

Date Company Name Development

November 2021 Glanbia PLC Glanbia Nutritionals (Ireland) acquired PacMoore Processing Technologies (PPT) (US) in Mooresville, Indiana as well as its R&D facility in Gridley, Illinois for USD 53 million.

Source: Annual Report, Press Releases, and MRFR Analysis

9.6.3 AGREEMENT

TABLE 44 AGREEMENT

Date Company Name Development

August 2023 Arla Foods Ingredients Group P/S Arla Foods Ingredients (Denmark) and Brenntag Group firm Zhongbai Xingye Food Technology (Beijing) Co., Ltd ("Zhongbai") have signed a distribution agreement to service the Chinese food and nutrition markets.

Source: Annual Report, Press Releases, and MRFR Analysis

9.7 MAJOR PLAYERS FINANCIAL

9.7.1 SALES (USD MILLION), 2022

FIGURE 20 MAJOR PLAYERS SALES (USD MILLION), 2022

Source: Annual Report, Press Releases, Associations, Government Records, Journals, Expert Interviews, Secondary Research, and Market Research Future Analysis

9.7.2 RESEARCH & DEVELOPMENT EXPENDITURE (USD MILLION), 2022

FIGURE 21 MAJOR PLAYER R&D EXPENDITURE (USD MILLION), 2022

Source: Annual Report, Press Releases, Associations, Government Records, Journals, Expert Interviews, Secondary Research, and Market Research Future Analysis

9.8 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, IMPORT AND EXPORT ANALYSIS (2018-2030)

TABLE 45 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR IMPORT, BY COUNTRY, 2018–2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China 39,846.19 41,943.36 37,786.81 45,526.28 47,922.40 1,02,787.25 1,78,925.76 7.17%

India 3,197.01 3,365.28 3,031.78 3,652.75 3,845.00 1,330.37 2,834.06 9.91%

Japan 13,656.95 14,375.73 12,951.11 15,603.75 16,425.00 9,363.90 15,683.16 6.66%

Australia 3,119.69 3,283.88 2,958.45 3,564.40 3,752.00 1,549.62 2,178.46 4.35%

South Korea 11,870.11 12,494.85 11,256.63 13,562.20 14,276.00 6,093.75 9,313.46 5.45%

Singapore 2,018.00 2,019.00 2,020.00 2,021.00 2,022.00 5,274.53 7,799.23 5.01%

Indonesia 778.89 819.89 738.64 889.92 936.76 515.83 694.14 3.78%

Thailand 562.18 591.76 533.12 642.31 676.12 367.03 480.94 3.44%

Philippines 36,950.67 38,895.44 35,040.94 42,218.00 44,440.00 18,971.48 31,419.04 6.51%

Malaysia 461.42 485.71 437.57 527.20 554.95 316.82 408.51 3.23%

Vietnam 321.43 338.35 304.82 367.25 386.58 211.21 268.07 3.02%

Taiwan 1,201.57 1,208.16 1,052.32 1,217.97 1,232.87 1,263.00 1,571.64 2.77%

Rest of Asia-Pacific 3,816.75 2,770.65 2,538.94 3,095.00 3,303.57 3,748.95 5,205.36 4.19%

Total 1,17,800.87 1,22,592.07 1,10,651.14 1,32,888.04 1,39,773.25 1,51,793.74 2,56,781.82 6.79%

Source: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

TABLE 46 ASIA-PACIFIC WHEY PROTEIN INGREDIENTS MARKET, FOR EXPORT, BY COUNTRY, 2018–2030 (VOLUME IN TONS)

By Country 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

China 72.61 76.43 68.85 82.95 87.32 101.53 184.49 7.75%

India 74.47 78.39 70.62 85.08 89.56 104.13 196.73 8.28%

Japan 214.85 226.15 203.74 245.47 258.39 225.33 374.40 6.55%

Australia 6,473.02 6,813.70 6,138.47 7,395.75 7,785.00 9,051.76 15,416.03 6.88%

South Korea 0.42 0.44 0.40 0.48 0.50 0.59 0.75 3.13%

Singapore 2,244.98 2,363.13 2,128.95 2,565.00 2,700.00 2,354.50 3,825.91 6.26%

Indonesia 423.44 438.08 387.78 458.90 474.32 514.16 755.27 4.92%

Thailand 2.88 3.03 2.73 3.29 3.47 4.03 5.77 4.57%

Philippines 0.02 0.02 0.02 0.02 0.02 0.03 0.04 4.37%

Malaysia 0.01 0.01 0.01 0.01 0.01 0.02 0.02 4.10%

Vietnam 0.08 0.08 0.07 0.09 0.09 0.11 0.14 3.53%

Taiwan 137.17 139.78 121.78 141.72 143.91 156.00 193.79 2.75%

Rest of Asia-Pacific 295.89 323.72 302.68 377.97 411.86 446.46 685.02 5.50%

Total 9,939.82 10,462.97 9,426.10 11,356.74 11,954.47 12,958.64 21,638.36 6.62%

Source: World Health Organization, Asia Pacific Clinical Nutrition Society, Asian Nutrition Society for Sport and Health, Asia-Pacific Network for Food and Nutrition, The Parenteral and Enteral Nutrition Society of Asia, Chinese Nutrition Society, China Nutrition and Health Food Association, Australian Health Promotion Association, Nutrition Society of Australia, Australasian Society of Parenteral and Enteral Nutrition, Australian Institute of Food Science and Technology, Physicians Association for Nutrition India, Indian Association for Parenteral and Enteral Nutrition, Nutrition Society of India, Taiwan Society for Parenteral and Enteral Nutrition, Nutrition Society of Taiwan, Press Releases, Journals, Whitepapers, Company Websites and MRFR Analysis

10 COMPANY PROFILES

10.1 CARBERY

10.1.1 COMPANY OVERVIEW

Company Headquarters: Cork, Ireland

Founded: 1965

Workforce: ~ 1,000

Company Working: Carbery is a manufacturer and distributor of flavors, cheeses, and unique and nutritious dairy components. It provides cheeses, flavors, concentrates, isolates, and protein hydrolysates. Additionally, it offers whey proteins for the markets for newborn, sport, clinical nutrition, and regular food and drink. For the infant formula and clinical nutritional industries, the company also offers and markets nutritional additives. At its 8 innovation center locations in Europe, Asia, North America, and South America, the corporation has worked with its clients to produce market-leading products. The business is run by West Cork farmers and aims to produce scrumptious and healthy goods for consumers in 50 different countries. The corporation has facilities for production, R&D, and marketing in Europe, the USA, and Asia. Moreover, the business operates out of 12 locations throughout the world, including those in Thailand, Singapore, Indonesia, Brazil, the UK, Ireland, and the USA.

10.1.2 FINANCIAL OVERVIEW

FIGURE 22 CARBERRY: FINANCIAL OVERVIEW SNAPSHOT

Source: Annual Report, Press Releases, and MRFR Analysis 

10.1.3 PRODUCTS OFFERED

TABLE 47 CARBERRY: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey Protein Isolates

• Whey Protein Hydrolysates

• Whey Protein Concentrates

Source: Annual Report, Press Releases, and MRFR Analysis

10.1.4 KEY DEVELOPMENTS

There have been no recent developments by the company in the Asia Pacific whey protein ingredients market in the past three years.

10.1.5 KEY STRATEGIES

The mission of Carberry is to build long-term wealth for its farmer shareholders. To face the difficulties of a world that is getting more complex and moving quickly, it is continuously looking for innovative, sustainable solutions. The company intends to collaborate with its clients to create market-leading products at its eight innovation center locations across Europe, Asia, North America, and South America. It intends to invest in cutting-edge research on the advantages of hydrolyzed dairy proteins for improving muscular health, mobility, insulin sensitivity, appetite control, and immunological protection to assist our clients in creating new foods that enhance lives.

10.2 MORINAGA MILK INDUSTRY CO. LTD

10.2.1 COMPANY OVERVIEW

Company Headquarters: Tokyo, Japan

Founded: 1917

Workforce: ~ 7,040

Company Working: Morinaga Milk Industry Co Ltd (Morinaga Milk) is a manufacturer and distributor of food products, dairy milk, and dairy products. It sells ice cream, condensed milk, powdered milk, butter, cheese, yogurt, milk, and beverages with dairy ingredients. In addition to producing clinical liquid diets, it also makes non-dairy beverages like juice, tea, and coffee. In addition to producing and selling animal feed, Morinaga Milk also creates and builds industrial equipment. The business sells its goods under the following brands: hagukumi, e-akachan, chil-mil, mt.rainier caffe latte, piknik, morinaga caldus milk, makiba no sora milk, pino, mow, parm, bifidus, kodomil, partheno, cz-hi, climeal, creap, silken tofu, lipton,. Through its subsidiaries in the regions of Europe, Asia, and North America, it provides these goods and services. Additionally, it retains brand license contracts with Sunkist, Kraft, and Lipton for marketing fruit juices, cheese, and tea. The company, through its subsidiaries, markets its products internationally. Furthermore, it has its operations in USA, Germany, Japan, Vietnam, Pakistan, Singapore, China, and Indonesia.

10.2.2 FINANCIAL OVERVIEW

FIGURE 23 MORINAGA MILK INDUSTRY CO. LTD: FINANCIAL OVERVIEW SNAPSHOT

Source: Annual Report, Press Releases, and MRFR Analysis

10.2.3 PRODUCTS OFFERED

TABLE 48 MORINAGA MILK INDUSTRY CO. LTD: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey Protein Concentrates

Source: Annual Report, Press Releases, and MRFR Analysis

10.2.4 KEY DEVELOPMENTS

There have been no recent developments by the company in the Asia Pacific whey protein ingredients market in the past three years.

10.2.5 SWOT ANALYSIS

FIGURE 24 MORINAGA MILK INDUSTRY CO. LTD: SWOT ANALYSIS

Source: Annual Report, Press Releases, and MRFR Analysis

10.2.6 KEY STRATEGIES

The Morinaga Milk Group aims to provide the groundwork for a next-generation healthcare company through open innovation based on partnerships between business, academia, and the government It strives to improve the lives of everyone it encounters, including customers, milk suppliers, employees, and locals. Its goal is to produce functional cheese and whey ingredients at a scale in the BEST possible manner. The company wants to get access to underserved, high-potential markets, thus it is growing its distribution network and presence in the Asia-Pacific region. To lead the fight against disease with a focus on emerging markets, the company places an emphasis on innovation in whey protein ingredients. Moreover, the business is expanding into new markets and creating several distribution channels. Furthermore, it aims to contribute to healthy and pleasurable lifestyles by providing distinctive products made possible by cutting-edge milk technology.

10.3 FRIESLANDCAMPINA INGREDIENTS

10.3.1 COMPANY OVERVIEWS

Company Headquarters: Amersfoort, Netherlands

Founded: 2020

Workforce: 2,400

Company Working: FrieslandCampina Ingredients produces and distributes dairy products. It offers a variety of dairy goods for sale, including cheese, butter, quark, cream, milk, yoghurt, condensed milk, and beverages that contain milk, whey protein ingredients. The company provides tailored nutrition created to meet the needs of specific consumer groups, such as children, the elderly, and athletes. Edam, Gouda, Maasdam, Dutch Lady, Frico, and Milli are some of the brands that FrieslandCampina Ingredients uses to market its products. The company also sells premium ingredients to multinational food and pharmaceutical companies. In addition to several European nations, Asia, and Africa, the corporation sells consumer goods such dairy-based beverages, infant nutrition, cheese, and desserts while also offering sustainable products that benefit the environment. Moreover, the company operates as a subsidiary of FrieslandCampina. Additionally, the company supplies to more than 100 countries globally and has operations in 32 different countries. Additionally, it has a presence in business across the continents of Africa, the Middle East, Asia, and Oceania, Netherlands, the United States, Singapore, China, and Brazil.

10.3.2 FINANCIAL OVERVIEW

This is a privately held company. Hence, financial information is not available in the public domain.

10.3.3 PRODUCTS OFFERED

TABLE 49 FRIESLANDCAMPINA INGREDIENTS: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey Protein Isolates

• Whey Protein Concentrates

Source: Annual Report, Press Releases, and MRFR Analysis

10.3.4 KEY DEVELOPMENTS

TABLE 50 FRIESLANDCAMPINA INGREDIENTS: KEY DEVELOPMENTS

Date Approach Development

November 2020 Product launch FrieslandCampina Ingredients has unveiled a new high-concentration protein gel for sports nutrition brands. The application, which uses Nutri Whey Isolate Clear from the business, offers up to 15% protein content. It provides the same amount of protein in a smaller serving size as a 500 ml ready-to-drink beverage

Source: Annual Report, Press Releases, and MRFR Analysis

10.3.5 SWOT ANALYSIS

FIGURE 25 FRIESLANDCAMPINA INGREDIENTS: SWOT ANALYSIS

Source: Annual Report, Press Releases, and MRFR Analysis

10.3.6 KEY STRATEGIES

FrieslandCampina Ingredients focuses on internal research and external alliance through collaborations. It aims to expand its product portfolio through extensive R&D investment. The company also aims to acquire and partner with established players. It emphasizes developing specialty products in healthcare. The launch of products through collaborations may help strengthen its market share over the coming period. In addition, the company’s strategy is to utilize science-based innovation to deliver better patient outcomes. It aims to lead the growing healthcare sector by winning new patents and developing high-quality products by strengthening cash flow. Additionally, it aims to produce dairy that is net carbon neutral by the year 2050. A significant reduction in greenhouse gas emissions by 2030 will mark a significant advancement toward the specific objectives and doable actions of the climate strategy. Additionally, the company aspires to 50% of the quantity of low-cost food items sold in low-income countries by 2025 to meet affordable nutrition standards.

10.4 LACTALIS INGREDIENTS

10.4.1 COMPANY OVERVIEW

Company Headquarters: Bourgbarré, France

Founded: 1933

Workforce: ~ 1,500

Company Working: LACTALIS Ingredients is a global producer and distributor of dairy ingredients. The company offers industrial butters, casein, whey products, milk fats, milk powders, and nutritional ingredients. Lactalis Ingredients serves the global food and beverage industries. As a member of the largest dairy group globally, LACTALIS Ingredients is committed to achieving the shared objective of offering the highest quality dairy products to the greatest number of people across the globe. Services for the global food and beverage industries are offered by Lactalis Ingredients. With 10 sales offices and 18 production sites, it operates in over 100 countries.

10.4.2 FINANCIAL OVERVIEW

This is a privately held company. Hence, financial information is not available in the public domain.

10.4.3 PRODUCTS OFFERED

TABLE 51 LACTALIS INGREDIENTS: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey Protein Isolates

• Whey Protein Concentrates

Source: Annual Report, Press Releases, and MRFR Analysis

10.4.4 KEY DEVELOPMENTS

There have been no recent developments by the company in the Asia Pacific whey protein ingredients market in the past three years.

10.4.5 KEY STRATEGIES

LACTALIS Ingredients strives to provide only the purest and most effective protein powders, supplements, and vitamins to help you reach your individual goals. Its mission is to support food and beverage manufacturers with a range of solutions targeted at addressing the challenges raised by various applications, from chocolate, fresh dairy, cheese, and ice cream to baked goods and confections. Building a solid capital structure is the company's primary objective in order to strengthen its financial position and provide cash for market expansion.

10.5 MILK SPECIALTIES GLOBAL

10.5.1 COMPANY OVERVIEW

Company Headquarters: Minnesota, US

Founded: 1949

Workforce: ~ 536

Company Working: Milk Specialties Global provides animal and human nutrition products. It supplies goods for human consumption, such as isolates, concentrates, and hydrolysates of whey and milk protein. The company's animal nutrition division produces functional fats, proteins, and carbohydrates. The company's milk protein ingredients enable the sports nutrition and functional foods end-markets to obtain organic, lactose-free, and recombinant bovine growth hormone-free milk products. These ingredients include micellar casein, hydrolysates, isolates, and whey protein concentrate.Milk Specialties Global provides the widest range of customized whey and milk protein ingredients for nutritional and functional applications, enabling customers to create the formulations they desire. The company has its operation across the world.

10.5.2 FINANCIAL OVERVIEW

This is a privately held company. Hence, financial information is not available in the public domain.

10.5.3 PRODUCTS OFFERED

TABLE 52 MILK SPECIALTIES GLOBAL: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey Protein Concentrate

• Whey Protein Isolate

• Whey Protein Hydrolysate

Source: Annual Report, Press Releases, and MRFR Analysis

10.5.4 KEY DEVELOPMENTS

There have been no recent developments by the company in the Asia Pacific whey protein ingredients market in the past three years.

10.5.5 KEY STRATEGIES

Milk Specialties Global plans to expand operations at the Clara City facility to meet the increasing demand for extruded protein products, which are used in everything from snacks to meat substitutes. It also aims to improve people's convenience, wellness, and health by maximizing the goodness of milk. Additionally, it prioritizes the Farmgate milk price. It also intends to switch to more costly ingredients. Keeping a healthy operating margin when investing in foreign markets, optimizing customer lifetime value in the domestic market, and profiting from prior investments are some of its other goals.

10.6 ARLA FOODS INGREDIENTS GROUP P/S

10.6.1 COMPANY OVERVIEW

Company Headquarters: Viby, Denmark

Founded: 2000

Workforce: ~20,907

Company Working: Arla Foods Ingredients Group P/S works to improve premium nutrition. It discovers and delivers documented components and products that can promote lifelong nutrition for the benefit of people all around the world in collaboration with its clients, research partners, suppliers, NGOs, and others. Major brands in early life nutrition, medical nutrition, sports nutrition, health foods, and other foods and drinks are served by the firm. The company sells its products in 144 countries to hundreds of different customers, mostly supermarket chains.

10.6.2 FINANCIAL ANALYSIS

FIGURE 26 ARLA FOODS INGREDIENTS GROUP P/S: FINANCIAL OVERVIEW SNAPSHOT

Source: Annual Report, Press Releases, and MRFR Analysis 

10.6.3 PRODUCTS OFFERED

TABLE 53 ARLA FOODS INGREDIENTS GROUP P/S: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey protein concentrate

• Whey protein isolate

• Whey protein hydrolysate

Source: Annual Report, Press Releases, and MRFR Analysis

10.6.4 KEY DEVELOPMENTS

TABLE 54 ALLERGAN PLC: KEY DEVELOPMENTS

Date Approach Development

August 2023 Agreement Arla Foods Ingredients and Brenntag Group firm Zhongbai Xingye Food Technology (Beijing) Co., Ltd ("Zhongbai") have signed a distribution agreement to service the Chinese food and nutrition markets.

April 2020 Product Launch Arla Foods Ingredients introduced a clean-label idea to assist manufacturers in meeting China's rising demand for ambient yogurt. This is the first solution which employs Nutrilac YO-4575, a 100% natural whey protein, to elevate the premium positioning of unrefrigerated yogurts with all-natural components.

April 2019 Product Launch Arla Foods Ingredients has started injecting fizz into the sports nutrition category with its new Lacprodan HYDRO.Clear. The advanced 100% whey protein hydrolysate solution is developed for formulating sparkling protein waters.

Source: Annual Report, Press Releases, and MRFR Analysis

10.6.5 SWOT ANALYSIS

FIGURE 27 ARLA FOODS INGREDIENTS GROUP P/S: SWOT ANALYSIS

Source: Annual Report, Press Releases, and MRFR Analysis

10.6.6 KEY STRATEGIES

The company is committed to meeting its profit target range of 2.8-3.2 percent, and its Future26 vision and hunger for leading sustainable dairy remain robust. Furthermore, Arla Foods Ingredients focuses on providing good results and working toward a common aim of providing exceptional service to customers while reducing the environmental impact of purchasing. Its new strategy strives to provide answers on how to ensure the company's healthy and sustainable growth. The company achieved considerable progress on its goals in the first year of its Future26 plan.

10.7 DMK GROUP

10.7.1 COMPANY OVERVIEW

Company Headquarters: Zeven, Germany

Founded: 2011

Workforce: ~ 7,500

Company Working: DMK Group is a cooperative-based dairy company. The company’s product portfolio includes cheese, dairy products, ice creams, baby food, diet food, and special animal feeds. DMK Deutsches also provides ingredients including skimmed milk, whole milk, cream powders, and specialty powders for drinks manufacturing. The company markets its products under Alete, Osterland, Oldenburger, Oldenburger Professional, Bremerland, Uniekaas, Milram, Milram Food Service, Normi, and Humana brand names. Its major customers include retailers, food manufacturers, and bulk consumers. The company operates manufacturing facilities in Germany, the Netherlands, Russia, Italy, and other international hubs. DMK Deutsches is headquartered in Zeven, Germany.

10.7.2 FINANCIAL OVERVIEW

This is a privately held company. Hence, financial information is not available in the public domain.

10.7.3 PRODUCTS OFFERED

TABLE 55 DMK GROUP: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey Protein Concentrate

• Whey Protein Isolate

Source: Annual Report, Press Releases, and MRFR Analysis

10.7.4 KEY DEVELOPMENTS

There have been no recent developments by the company in the Asia Pacific whey protein ingredients market in the past three years.

10.7.5 SWOT ANALYSIS

FIGURE 28 DMK GROUP: SWOT ANALYSIS

Source: Annual Report, Press Releases, and MRFR Analysis

10.7.6 KEY STRATEGIES

DMK Group aims to provide only the purest and most potent dairy products, protein powders, supplements, and vitamins to support specific goals. Furthermore, the company focuses on stable earnings and sound financing, through long-term and sustainable, successful development forms. It also aims to secure liquidity, minimize financial risks, and optimize the cost of capital through an appropriate capital and organizational structure.

10.8 FONTERRA CO-OPERATIVE GROUP LIMITED

10.8.1 COMPANY OVERVIEW

Company Headquarters: Auckland, New Zealand

Founded: 2001

Workforce: ~17,993

Company Working: Fonterra Cooperative Group is a manufacturer and marketer, a dairy research and innovation leader, the owner of a substantial brand portfolio in Asia Pacific, and a partner to many of the world's major food corporations. Fonterra operates globally, exporting its products to more than 140 countries. It has a total number of 45 manufacturing facilities and offices in several countries, allowing it to serve a diverse international customer base. Its portfolio of well-known brands includes Anchor, Anmum, Anlene, NZMP, and Farm Source.

10.8.2 FINANCIAL OVERVIEW

FIGURE 29 FONTERRA COOPERATIVE GROUP: FINANCIAL OVERVIEW SNAPSHOT

Source: Annual Report, Press Releases, and MRFR Analysis 

10.8.3 PRODUCT OFFERED

TABLE 56 FONTERRA COOPERATIVE GROUP: PRODUCT OFFERED

Category Product

Whey Protein Ingredients • Whey Protein Isolate

• Whey protein Concentrate

• Whey Protein Hydrolystates

Source: Annual Report, Press Releases, and MRFR Analysis

10.8.4 KEY DEVELOPMENTS

There have been no recent developments in the past three years in the Asia-Pacific Whey Protein Ingredients Market.

10.8.5 KEY STRATEGIES

Shifting milk into better margin products is a key driver of the company's strategy and profitability growth. The company strives to be a leader in dairy innovation and science, as well as in sustainability. Furthermore, through maximizing the goodness of New Zealand milk, it hopes to improve people's lives through convenience, health, and wellbeing. Furthermore, it prioritizes the Farmgate milk price. Moreover, it intends to shift toward higher-value ingredients.

10.9 GLANBIA PLC

10.9.1 COMPANY OVERVIEW

Company Headquarters: Kilkenny, Ireland

Founded: 1997

Workforce: ~8,071

Company Working: Glanbia PLC is a nutrition company committed to providing superior nutrition at every stage of life's journey. Glanbia Performance Nutrition has a portfolio of leading products in sports and lifestyle nutrition that cater to a variety of consumer motivations, including performance nutrition, active living, and weight control. Its products are available in over 130 countries. Protein powders, protein bars, butter cream, animal feeds, dressings, beverages, cheese, dairy and non-diary nutritional ingredients, vitamins, mineral premixes, sauces and spreads, grains and seeds are all part of the company's range of goods. The company sells its products through several channels, such as specialized retail, e-commerce, and gyms. It operates under the trademarks Optimum Nutrition, BSN, Isopure, Nutramino, think!, Amazing Grass, and Body & Fit. The company operates in North America, Europe, Asia-Pacific, and Latin America.

10.9.2 FINANCIAL OVERVIEW

FIGURE 30 GLANBIA PLC: FINANCIAL OVERVIEW SNAPSHOT

Source: Annual Report, Press Releases, and MRFR Analysis

10.9.3 PRODUCTS OFFERED

TABLE 57 GLANBIA PLC: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey protein Concentrates

• Whey Protein Isolates

• Whey Protein Hydrolysates

Source: Annual Report, Press Releases, and MRFR Analysis

10.9.4 KEY DEVELOPMENTS

TABLE 58 GLANBIA PLC: KEY DEVELOPMENTS

Date Approach Development

November 2021 Acquisition Glanbia Nutritionals acquired PacMoore Processing Technologies (PPT) in Mooresville, Indiana as well as its R&D facility in Gridley, Illinois for USD 53 million.

Source: Annual Report, Press Releases, and MRFR Analysis

10.9.5 SWOT ANALYSIS

FIGURE 31 GLANBIA PLC: SWOT ANALYSIS

Source: Annual Report, Press Releases, and MRFR Analysis

10.9.6 KEY STRATEGIES

Glanbia's strategic goals are focused on safeguarding and expanding its portfolio of premier brands and nutritional ingredient solutions, driving purposeful growth via innovation and acquisitions, and driving efficiency through the integration of operational enablers. The company's strategy is about performing great business in a genuine socially responsible way to make a meaningful impact for all its stakeholders, not just financial performance. Additionally, it intends to fuel growth by continuing to invest in organizational enablers across the business.

10.10 KERRY GROUP PLC

10.10.1 COMPANY OVERVIEW

Company Headquarters: Tralee, Ireland

Founded: 1972

Workforce: ~23,000

Company Working Kerry Group Plc is a food and beverage manufacturer and distributor. It operates in two segments: Taste & Nutrition and Consumer Foods. The flavor & Nutrition division develops and markets a unique range of flavor and nutrition solutions, as well as functional ingredients and actives, for the global food, beverage, and pharmaceutical industries. Consumer Foods segment manufactures and distributes added value branded and consumer branded chilled food items in Ireland, the UK, and certain foreign markets.

10.10.2 FINANCIAL OVERVIEW

FIGURE 32 KERRY GROUP PLC: FINANCIAL OVERVIEW SNAPSHOT

Source: Annual Report, Press Releases, and MRFR Analysis 

10.10.3 PRODUCTS OFFERED

TABLE 59 KERRY GROUP PLC: PRODUCTS OFFERED

Category Product

Whey Protein Ingredients • Whey Protein Isolates

• Whey Protein Concentrates

• Whey Protein Hydrolysates

Source: Annual Report, Press Releases, and MRFR Analysis

10.10.4 KEY DEVELOPMENTS

There has been no recent development in the Asia-Pacific whey protein ingredients market for the past three years.

10.10.5 KEY STRATEGIES

Kerry's aim is to be an indisputable decision-making filter, unlocking value and driving performance across the company. The company's focus on strategic areas such as Taste, Nutrition, and Emerging Markets demonstrates its goals. They inform the company's innovation and acquisition strategies, leading Kerry to invest in markets and technologies where it can have the biggest effect towards its objective of serving two billion people by 2030 with sustainable nutrition solutions.

11 ADDITIONAL CUSTOMIZATION

11.1 COMPETITIVE LANDSCAPE

11.1.1 CHINA

11.1.2 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 33 CHINA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.3 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 34 CHINA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.4 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 35 CHINA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.1.5 JAPAN

11.1.6 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 36 JAPAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.7 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 37 JAPAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.8 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 38 JAPAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.1.9 SOUTH KOREA

11.1.10 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 39 SOUTH KOREA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.11 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 40 SOUTH KOREA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.12 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 41 SOUTH KOREA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.1.13 AUSTRALIA

11.1.14 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 42 AUSTRALIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.15 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 43 AUSTRALIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.16 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 44 AUSTRALIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.1.17 INDIA

11.1.18 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 45 INDIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.19 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 46 INDIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.20 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 47 INDIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.1.21 VIETNAM

11.1.22 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 48 VIETNAM: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.23 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 49 VIETNAM: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.24 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 50 VIETNAM: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.1.25 THAILAND

11.1.26 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 51 THAILAND: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.27 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 52 THAILAND: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.28 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 53 THAILAND: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.1.29 TAIWAN

11.1.30 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 54 TAIWAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.31 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 55 TAIWAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.32 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 56 TAIWAN: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.1.33 INDONESIA

11.1.34 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN ISOLATES, 2022 (%)

FIGURE 57 INDONESIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN ISOLATES, 2022 (%)

11.1.35 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN CONCENTRATES, 2022 (%)

FIGURE 58 INDONESIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN CONCENTRATES, 2022 (%)

11.1.36 COMPANY MARKET SHARE ANALYSIS, BY WHEY PROTEIN HYDROLYSATES, 2022 (%)

FIGURE 59 INDONESIA: COMPANY MARKET SHARE ANALYSIS, BY WHET PROTEIN HYDROLYSATES, 2022 (%)

11.2 GLOBAL WHEY PROTEIN INGREDIENTS MARKET BY REGION, 2018-2030 (USD MILLION)

By Region 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

North America 4,422.72 4,525.13 4,629.60 4,736.16 4,795.40 5,080.07 7,515.63 5.02%

Europe 3,536.00 3,637.71 3,742.32 3,849.89 3,920.10 4,176.56 6,441.85 5.57%

Asia Pacific 2,851.34 2,960.56 3,073.82 3,191.24 3,279.19 3,556.79 6,180.45 7.15%

Middle East 472.60 490.90 509.89 529.58 544.38 585.51 963.78 6.43%

South America 835.23 882.14 931.15 982.36 1,025.29 1,087.91 1,628.89 5.17%

Total 12,117.89 12,496.44 12,886.77 13,289.23 13,564.37 14,486.84 22,730.58 5.79%

11.3 APAC MILK PROTEIN MARKET BY TYPE, 2018-2030 (USD MILLION)

Milk Protein Type 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

Dairy Products & Frozen Desserts 2,320.68 2,429.65 2,517.18 2,616.13 2,731.89 2,847.71 4,249.32 5.13%

Infant Formula 1,610.50 1,690.87 1,756.75 1,831.03 1,917.57 2,020.59 3,263.98 6.18%

Dietary Supplements 2,010.60 2,133.09 2,239.33 2,358.25 2,495.22 2,673.83 4,824.12 7.66%

Bakery & Confectionery 1,430.38 1,503.91 1,564.75 1,633.26 1,712.93 1,796.98 2,812.39 5.76%

Beverages 1,750.49 1,853.16 1,941.34 2,040.17 2,154.22 2,288.00 3,900.38 6.89%

Sweet & Savory Snacks 510.17 533.07 551.17 571.68 595.75 618.41 893.02 4.70%

Others 370.00 385.53 397.48 411.07 427.12 439.08 584.89 3.65%

Total 10,002.82 10,529.28 10,968.00 11,461.60 12,034.70 12,684.60 20,528.10 6.20%

11.4 GLOBAL MILK PROTEIN MARKET BY REGION, 2018-2030 (USD MILLION)

Region 2018 2019 2020 2021 2022 2023 2030 CAGR (2023-2030)

North America 3,400.98 3,553.65 3,674.30 3,806.40 3,957.81 4,130.53 6,220.02 5.25%

Europe 3,000.88 3,132.50 3,235.60 3,360.50 3,506.87 3,673.43 5,686.30 5.61%

Asia Pacific 2,710.80 2,864.00 2,994.30 3,174.90 3,387.13 3,626.42 6,507.41 7.58%

Middle East 380.11 410.64 438.72 460.76 484.86 512.18 841.65 6.41%

South America 510.06 568.49 625.08 659.04 698.01 742.05 1,272.72 6.98%

Total 10,002.82 10,529.28 10,968.00 11,461.60 12,034.70 12,684.60 20,528.10 6.20%

11.5 GLOBAL MILK PROTEIN MARKET DRIVERS

11.5.1 RISE IN DEMAND FOR NUTRITION-RICH PRODUCTS IN THE DIETARY SUPPLEMENT SEGMENT

The demand for nutrition-rich products in the dietary supplement segment has been increasing due to the growing awareness among consumers about the benefits of a healthy lifestyle. Milk proteins, such as whey and casein, are rich in essential amino acids and are considered to be high-quality proteins that can help build and repair muscles, support immune function, and improve overall health. The milk protein market has seen significant growth in recent years, driven by the increasing demand for functional foods and dietary supplements that contain milk proteins. This trend is anticipated to continue during the forecast period, as consumers increasingly seek out products that can help them maintain a healthy lifestyle and meet their nutritional needs.

Moreover, the rise in popularity of plant-based alternatives to animal-based products has also driven the demand for plant-based milk proteins, such as pea protein and soy protein. These proteins offer similar nutritional benefits to animal-based proteins and are suitable for consumers who follow a vegetarian or vegan diet. Thus, the demand for milk proteins in the dietary supplement segment is likely to continue to grow in the coming years, driven by the increasing consumer demand for nutrition-rich products and the expanding market for plant-based alternatives.

11.5.2 GROWING DEMAND FOR HIGH-QUALITY PROTEIN

Milk proteins, such as whey and casein, are considered to be high-quality proteins due to their amino acid profile, which makes them ideal for building and repairing muscles, supporting immune function, and promoting overall health. As consumers develop more health-conscious and seek out products that offer functional benefits beyond basic nutrition, there is a growing demand for high-quality protein sources, particularly among athletes, fitness enthusiasts, and individuals looking to maintain a healthy lifestyle. Milk protein products, such as protein powders, bars, and drinks, are popular among these consumer groups because of their high protein content and ease of use. For instance, in November 2021, Lactalis Ingredients launched new high-protein product concepts using pronativ native whey protein and pronativ native micellar casein. Some of the derived concepts are high-protein pudding and high-protein shakes.

In addition, the rise in popularity of plant-based diets has led to an increased demand for plant-based protein sources, such as soy and pea protein. However, milk proteins remain a popular choice for consumers who prefer animal-based protein sources or who have specific nutritional requirements. Therefore, the demand for high-quality protein is expected to continue to drive growth in the milk protein market during the forecast period, as consumers seek out products that can help them meet their health and fitness goals.

12 APPENDIX

12.1 REFERENCES

 Asia Pacific Clinical Nutrition Society

 Asian Nutrition Society for Sport and Health

 Asia-Pacific Network for Food and Nutrition

 The Parenteral and Enteral Nutrition Society of Asia

 Chinese Nutrition Society

 Indian Association for Parenteral and Enteral Nutrition

 Nutrition Society of India

 China Nutrition and Health Food Association

 Australian Health Promotion Association

 Nutrition Society of Australia

 Australasian Society of Parenteral and Enteral Nutrition

 Physicians Association for Nutrition India

 Taiwan Society for Parenteral and Enteral Nutrition

 Australian Institute of Food Science and Technology

 Nutrition Society of Taiwan

 China Dairy Industry Association (CDIA)

 Indonesian Food & Beverage Industry Association (GAPMMI)

 Food Industry Asia (FIA)

12.2 RELATED REPORTS

SR. NO. REPORT TITLE PUBLISH DATE

1 Sports Nutrition Market - Forecast Till 2030

Sports Nutrition Market Size, Share, Industry Research Report Information By Type (Sports Food, Drinks Bar and Supplement), By End User (Commercial, Body Builders, Recreational Users and Athletes), And By Region (North America, Europe, Asia-Pacific, And Rest of the World) - Market Forecast Till 2030

https://www.marketresearchfuture.com/reports/sports-nutrition-market-685

August 2023

2 Milk Protein Market - Forecast Till 2030

Milk Protein Market Research Report Informatio By Type (Milk Protein Concentrates, Milk Protein Casein and Caseinates, Milk Protein Hydrolysates, Casein and Caseinates, Whey Protein Isolates, Others) By Form (Dry/Liquid), By Application (Dairy Products, Infant Formula Dietary Supplements, Bakery & Confectionery, Beverages, Sweet & Savory Snacks, Others), And By Region (North America, Europe, Asia-Pacific, And Rest of the World) - Market Forecast Till 2030

https://www.marketresearchfuture.com/reports/milk-protein-market-2322

August 2023