The market is estimated to be around $4,217.5 billion in 2026 and is expected to grow at a CAGR of 8.6% till 2026.
China and India are leading the whey protein markets, because of increasing demand from sports, medical and personal care industry. Growing consumption of whey-based products in both countries will drive CAGR growth of above 9% during the forecast period.
The Asia-Pacific whey protein market is growing rapidly due to various reasons associated with socio-economic trends in the region. Around 69 million households among the member countries in ASEAN have now become part of the consuming class, and this number is expected to double to 125 million by 2025.
The dairy industry of the Asia-Pacific region, especially major developing countries like China, India, and Indonesia, is boosting in terms of both production and sales. The breakneck speed of increasing dairy item demand is outstripping the local supply, and thus the region is heavily dependent on global dairy exporters.
In the next five years, due to the increasing attention of foreign investors, it is expected that over 60% of dairy and its derivatives sales are expected to be generated in Asia-Pacific. However, the challenging political environment could pose both restraints and opportunities for foreign investors.
Major producers of food and beverages in Asia are now capitalizing on the functional benefits of whey protein for the sports nutrition market and are developing a wide range of whey protein products through research and developments. The products based on whey protein offer a taste advantage and a convenience for sports and health professionals.
The major driver of whey protein markets is the growing demand for high protein food, health consciousness, and increasing consumption of high-quality dairy-based protein. The growing awareness and acceptance of whey protein for weight loss and clinical nutrition is another major driver of the market. In contrast, major restraint to the whey protein market is the availability of alternate protein substitutes and less awareness among the masses. The higher cost of the final product is another major hindrance in the price-sensitive Asian market.
The Asia-Pacific market is highly fragmented, and local players have a strong competitive advantage over international players. However, foreign investment in this region is growing rapidly to supply high-quality whey protein products at reasonable prices. In the coming years, most of the growth in the whey protein market is expected to come from Asia.
Considering the demand trend, regional governments have taken serious steps to ease the operating environment, especially in large markets such as China and India. Other countries such as Indonesia and Vietnam, might offer a more accessible entry to the market.
The whey market of China, India, Indonesia, and Vietnam is expected to grow faster in the coming years. It is because of its population structure. These countries have a good population growth with majorly young populations. The per capita consumption of these countries is coming from a lower base, giving headroom for growth, compared to the relatively matured market of Malaysia and Singapore.
In many countries across the Pacific region, the campaign to promote milk and its derivatives products among school children is increasing with an aim to improve the nutrition of children in kindergartens and primary schools. Such initiative by the regional government is expected to drive the demand for milk derivatives, especially the product with high protein content such as whey protein.
Due to increasing awareness about health and wellness, people in the region are opting for natural and healthy diets. Hence dairy products are well-positioned to offer a nutritious diet. In addition, snacking has become a greater part of people diet’s in the region. Snack-packed products with whey protein ingredients content will offer a great alternative to the products high in sugar and salt.
- Market trends since 2017 and five-year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments and countries
- Supply & demand side trend and analysis
- Price trend analysis, investment prospects, and competition pattern
- Insights on the growth potential of the market
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
- Agropur MSI, LLC
- Arla Foods
- Carbery Group
- Champignon-Hofmeister Group
- DMK group
- FriesiandCampina Ingredients
- Glanbia Plc
- Hilmar Cheese Company Inc
- Lactalis Ingredients
- Land O’Lakes Inc
- Leprino Foods Co
- Milk Specialties Global
- Meggle Group
- Saputo Ingredients
- Fonterra Co-operative Group
For more information about this report visit https://www.researchandmarkets.com/r/j8gaze
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