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Asia-Pacific Dairy Protein Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Asia-Pacific Dairy Protein Market Trends & Share. The market is segmented by Ingredients Type (Milk Protein Concentrates (MPCs), Whey Protein Concentrates (WPCs), Whey Protein Isolates (WPIs), Milk Protein Isolates (MPIs), Casein and Caseinates, and Others), by Application (Foods & Beverages, Infant formulations, Personal Care & Cosmetics, Animal Feed, and Others), and by Geography.

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Asia-Pacific Dairy Protein Market Size

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Asia-Pacific Dairy Protein Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.20 %
Market Concentration Medium

Major Players

Asia-Pacific Dairy Protein Market

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Asia-Pacific Dairy Protein Market with other markets in Food & Beverage Industry

Beverages

Food

Food Ingredients and Food Additives

Food Supplements

Asia-Pacific Dairy Protein Market Analysis

The Asia Pacific dairy protein market is projected to register a CAGR of 5.2%, during the forecast period.

  • The market is majorly driven by the increasing health care awareness and consumer's preference toward nutritional and healthy diets in recent times. In addition, consumer perception of the high nutritional content of infant formula due to the health consciousness of their children drive the growth for infant formula consumption made from dairy proteins. Organizations such as FDA and dairy ingredient manufacturers are in R&D activities to enhance the properties such as flavor, aroma, and performance of dairy protein ingredients. This is anticipated to provide opportunities for manufacturers to offer an improved variety of dairy protein ingredients in the market to achieve a higher share.
  • However, the rising adoption of veganism and high incidences of lactose intolerance are hampering the growth of the market. Additionally, fluctuations in raw material prices are a major challenge faced by the market players.

Asia-Pacific Dairy Protein Market Trends

This section covers the major market trends shaping the APAC Dairy Protein Market according to our research experts:

Rising Demand for Whey Protein Concentrate (WPC)

The demand for whey protein concentrates has witnessed a significant increase in recent years, owing to the cheaper price than other protein sources. The whey protein concentrates segment is majorly driven by the sports nutrition and lifestyle industry. Infant formula is one of the fastest-growing markets for whey protein specifically WPC-35-80 and demineralized whey powder. Demand for whey-based infant formulas is strong in a few countries, particularly China. Moreover, the market for whey protein concentrate is growing, as whey protein concentrate is consumed as a general supplement for the body. Therefore, this form of protein is largely driven by health-conscious consumers. To meet the consumer's preference, the companies such as Fonterra is using milk (processed at its Wynyard factory) to supply whey protein concentrate, a key ingredient in dairy products including yogurt, dairy beverages, and snack bars.

Asia Pacific Dairy Protein Market1

China is Expected to Have the Fastest Growing Market

The robust consumer market of China, with the constantly growing demand for dairy products such as yogurt, are the primary factors driving the market in the country. The leading food company in the country, such as Arla indicates, growing fondness of dairy with stats suggesting 84% of Chinese adults and 92% of children consuming yogurt at least once a week, which is anticipated to take over the US market in the forecast period. Additionally, the rising interest for infant milk formula in China is another factor pushing revenue records of dairy ingredients, resulting in the application to be one of the largest revenue contributing segments in the market studied. According to Danone, the Infant Milk Formula market in the country grew by four times in ten years since 2007, holding about 45% of global market share in 2017. In addition, manufacturers are offering differentiated dairy ingredients in order to address the specific requirements of varied applications. For instance, NZMP markets ingredients specially formulated for industries including Sports and Active Nutrition, Milk and Milk-Based Beverage, Yogurt and Fermented Products, etc.

Asia-Pacific Dairy Protein Market2

Asia-Pacific Dairy Protein Industry Overview

The Asia-Pacific dairy protein market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include Fonterra Co-operative Group, Hoogwegt, Interfood Holding, and Foodchem International Corporation, among others.

Asia-Pacific Dairy Protein Market Leaders

  1. Fonterra Co-operative Group (NZMP)

  2. Hoogwegt

  3. Interfood Holding

  4. Foodchem International Corporation

  5. The Tatua Cooperative Dairy Company Ltd

*Disclaimer: Major Players sorted in no particular order

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Asia-Pacific Dairy Protein Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Ingredients Type

      1. 5.1.1 Milk Protein Concentrates (MPCs)

      2. 5.1.2 Whey Protein Concentrates (WPCs)

      3. 5.1.3 Milk Protein Isolates (MPIs)

      4. 5.1.4 Whey Protein Isolates (WPIs)

      5. 5.1.5 Casein and Caseinates

      6. 5.1.6 Others

    2. 5.2 By Application

      1. 5.2.1 Food

        1. 5.2.1.1 Infant Nutrition

        2. 5.2.1.2 Dairy Based Food

        3. 5.2.1.3 Bakery, Confectionary and Frozen Desserts

        4. 5.2.1.4 Sports and Performance Nutrition

        5. 5.2.1.5 Others

      2. 5.2.2 Beverage

      3. 5.2.3 Personal care & Cosmetics

      4. 5.2.4 Animal Feed

      5. 5.2.5 Others

    3. 5.3 By Country

      1. 5.3.1 China

      2. 5.3.2 Japan

      3. 5.3.3 Australia

      4. 5.3.4 India

      5. 5.3.5 Rest of Asia Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Fonterra Co-operative Group (NZMP)

      2. 6.4.2 Hoogwegt

      3. 6.4.3 Interfood Holding

      4. 6.4.4 Foodchem International Corporation

      5. 6.4.5 The Tatua Cooperative Dairy Company Ltd

      6. 6.4.6 Foodchem International Corporation

      7. 6.4.7 Charotar Casein Company

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Asia-Pacific Dairy Protein Industry Segmentation

The Asia Pacific dairy protein market has been segmented based on the ingredients, applications, and geography. The ingredients segment consists of whey protein concentrates and isolates, milk protein concentrates and isolates, casein and caseinates, as the major products. Based on the application of dairy proteins, the various sectors are food & beverage, infant formulations, personal care, animal feed, and others. Also, the study provides an analysis of the dairy protein market in the emerging and established markets across the Asia Pacific, including China, Japan, Australia, India, and Rest of the Asia Pacific.

By Ingredients Type
Milk Protein Concentrates (MPCs)
Whey Protein Concentrates (WPCs)
Milk Protein Isolates (MPIs)
Whey Protein Isolates (WPIs)
Casein and Caseinates
Others
By Application
Food
Infant Nutrition
Dairy Based Food
Bakery, Confectionary and Frozen Desserts
Sports and Performance Nutrition
Others
Beverage
Personal care & Cosmetics
Animal Feed
Others
By Country
China
Japan
Australia
India
Rest of Asia Pacific
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Asia-Pacific Dairy Protein Market Research FAQs

The Asia-Pacific Dairy Protein Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)

Fonterra Co-operative Group (NZMP), Hoogwegt, Interfood Holding, Foodchem International Corporation and The Tatua Cooperative Dairy Company Ltd are the major companies operating in the Asia-Pacific Dairy Protein Market.

The report covers the Asia-Pacific Dairy Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Dairy Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Asia-Pacific Milk Protein Industry Report

Statistics for the 2024 Asia-Pacific Milk Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Milk Protein analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Asia-Pacific Milk Protein Market Report Snapshots

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Asia-Pacific Dairy Protein Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)