Asia-pacific Whey Protein Ingredients Market Forecast 2021-2028
The Asia-Pacific whey protein ingredients market is projected to register a CAGR of 6.94% in terms of volume and 13.04% in terms of revenue during the forecast period, 2021-2028. Whey protein ingredients are increasingly used in skin care products in the region. This has increased their popularity, which is set to impact the milk protein concentrate market. Also, China is the major consumer of dairy protein in the region, followed by Japan, Australia, and India.
Vietnam, India, Japan, Australia & New Zealand, South Korea, Indonesia, Thailand, China, and Rest of Asia-Pacific are assessed for the Asia-Pacific whey protein ingredients market growth evaluation. Japan has several fermented food products like natto, which is fermented soy. Also, yogurt consumption is growing at a fast-paced rate. This is attributed to the rising awareness of the health benefits of yogurt and the robust marketing of these products. In addition, the country has a well-established bakery market, with surging demand for high-quality bread. Moreover, age-friendly, innovative approaches are being adopted by major businesses to capitalize on the fitness trends among the elderly population.
Indonesia has a growing fitness industry and an increasing fitness-conscious population. For instance, Gold’s Gym observed a 40% increase in membership in 2019 from the preceding year. Moreover, people are more inclined to adopting healthier ways to lost weight. These include monitoring calorie intake, organic food consumption, healthy eating, and exercise. Such factors benefit market growth.
Some of the reputed firms in the market include American Dairy Products Institute, Erie Foods International Inc, Glanbia Plc, Danone SA, Fonterra Co-Operative Group, etc.
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