Asia-Pacific Whey Protein Market Forecasted for 2015-2020
Whey is a liquid material procured from manufacturing of cheese. It is a mixture of beta-lactoglobulin, immunoglobins, bovine serum albumin and alpha-lactalbumin. Whey protein can be of three primary types: whey protein concentrate (WPC), whey protein isolate (WPI) and hydrolyzed whey protein (HWP). It has come a long way from being a by-product to becoming one of the highly sophisticated industries functioning in food/food derivatives segment today. Asia-Pacific region constituted around 18% share of the global whey protein market. Very high population growth and a subsequesnt demand for food in the region is expected to boost market for whey in this region. Whey protein market in Asia-Pacific registered revenue in 2015 was $1217.5 million and is expected to reach a market value of $XX million by 2020 with a CAGR of 9.7%. Asia-Pacific is the fastest growing market, owing to its larger population and spiking demand for functional food & beverages in the region. Asian developing countries present most attractive markets due to larger populations that are employing whey protein extensively in body building and as dietary supplements. There are market restraints in the region and one of that is undefined regulatory guideline. The developing countries, in particular the burgeoning middle class of South Asian countries, are seeing stable birth rates due to increase in working women population. Developing countries, which majorly rely on FDA standards, have less developed domestic quality checking facilities, thus forcing consumers to move away from low quality domestic products. In spite of FDA regulating the facilities, the production and marketing are not regulated. This is deterring local producers from manufacturing domestic products; the high costs associated with milk pricing and production costs are further restraining the market growth. The market has some great opportunities as well, which can lead it at a great pace; like increasing prescription of supplements by doctors and higher scope of application in personal care and sports nutrition. The burgeoning middle class population of developing countries, with their rising disposable incomes, lifestyle changes and working women population see protein fortified foods and dietary supplements as a viable option to address nutritional requirements. China is the largest market for whey protein within Asia-Pacific, accounting for 32% of the market share. With largest population in the world, a very high demand for food exists in the region. Japan is the second major market for whey protein in Asia-Pacific region. Japanese population is highly inclined towards organized and healthy lifestyles. India is one the fastest developing nations globally. Food sector in the country had grown three fold during the past decade and is expected to follow the same trend over the coming 10 years. Australia constituted around 18% of whey protein market share within the Asia-Pacific region in 2015. Indonesia is a niche market for whey protein. Undefined regulatory guidelines and lack of awareness among consumers restricted market growth in the country. As of 2015, Israel constituted a mere 5% to the whey protein market share within Asia-Pacific region. Malaysia, Singapore, Vietnam, Philippines, South Korea etc. are some of the other Asia-Pacific countries considered in this report. Fonterra, Glanbia Nutritionals, Hershey Foods, Namyang Dairy, Unilever are some major players in the industry. Their product portfolio, research & development, strategic initiatives and commitment towards meeting consumer\'s demands play a major role maintaining market stability. Key Deliverables in the Study • Market analysis for the Asia-Pacific Whey Protein Market, with region specific assessments and competition analysis on global and regional scales. • Market definition along with the identification of key drivers and restraints • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale • Extensively researched competitive landscape section with profiles of major companies along with their market shares • Identification and analysis of the macro and micro factors that affect the Asia-Pacific Whey Protein Market on both global and regional scales • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.