ASIA-PACIFIC WHEY PROTEIN MARKET – GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 – 2027)
Asia-Pacific Whey Protein Market is segmented by Type (Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein), Application (Sports and Performance Nutrition, Infant Formula and Functional/Fortified Food), and Geography.
The Asia-Pacific whey protein market is forecasted to reach USD 1.57 billion by 2025, witnessing a CAGR of 9.2% during the forecast period (2020 – 2025).
The whey protein market has some great opportunities, with the increasing prescription of supplements by doctors and higher scope for application in personal care and sports nutrition driving the demand in Asia-Pacific.
Functional food and beverages have gained immense popularity among the health-conscious Asian population that has made an impact on the demand of whey protein in the region.
Scope of the Report
Whey protein in the Asia-Pacific region is majorly available in these forms: whey protein concentrate, whey protein isolate and hydrolyzed whey protein. It can be utilized in the form of sports and performance nutrition, infant formula and functional foods. The market is segmented by type, which is classified as Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein,. On the basis of application, which is segmented into Sports and Performance Nutrition, Infant Formula and Functional/Fortified Food. and Geography.
Key Market Trends
Increasing Number of Health/Fitness Centers In The Region
The population in the Asia-Pacific region has emerged in terms of fitness and health routines. As a result, there is a huge number of fitness and health centers being incorporated in developing nations like South Korea, China, and India. Since the huge number of people are opting for healthy lifestyles and better nutrition options, whey protein intake among the consumers in the region is expected to grow. Whey Protein Concentrate is the highest form of whey protein consumed in the region. Notably, South Korea held the highest number of fitness and health centers in the whole Asia-Pacific region followed by Japan and India.
Key Market Trends
Carbery Group, Informa Markets, Fonterra Co-Operative Group Limited, Saputo Ingredients, Agropur MSI, LLC, American Dairy Products Institute, Meggle Group, DMK Group, Arla Foods, and Lactalis Ingredients are some of the major companies engaged in delivering whey protein ingredients in Asia-Pacific region.
Since the region is influenced by the western lifestyle and more and more companies are coming up to provide whey ingredients to be used as sports nutrition, functional foods, and infant formula. Product Innovation and Partnerships are key strategies opted by the companies to achieve competitive advantage.