The Asia Pacific Milk Protein Concentrate Market would witness market growth of 5.8% CAGR during the forecast period (2022-2028).
The market is anticipated to expand due to the growing desire for nutritional dietary supplements in nations like India, South Korea, Japan, and others, in addition to increased awareness of milk protein concentrate. In addition, the average disposable income of the region's population and government investments and money in the food & beverage industry is increasing. Furthermore, according to several organizations, chronic diseases like diabetes and cancer kill millions annually in Asia-Pacific.
Moreover, the expanding senior population has increased the demand for age-appropriate food alternatives with better nutritional value in order to keep their general health, resulting in a rise in the demand for milk protein concentrate food products in their diet. Increasing health consciousness and the rising use of milk protein concentrates in food & beverage items such as cheese and yogurt is the primary drivers driving growth in the milk protein concentrate market.
Emerging markets will probably embrace higher-protein diets as they continue to develop. Milk protein concentrates are employed to enrich natural beverages, fermented goods, and frozen sweets. In addition, normally utilized meat protein can increase the risk of cardiovascular disease and stroke, which has led to the widespread acceptance of milk protein concentrate.
In terms of farmgate value, dairy is Australia's third most valuable agricultural product and the fourth most valuable in export value. In 2015-16, Australia produced 9.54 billion liters of milk, which, according to Dairy Australia, was processed into cheese (30%), skim milk powder and butter (29%), drinking milk (fresh and long-life UHT) (26%), whole milk powder (6%) and a variety of other products (9%) including yogurts, dairy desserts, custards, whey proteins, and nutraceuticals. A well-established dairy industry would promote expanding the milk protein concentrate market in the Asia-Pacific region.
The China market dominated the Asia Pacific Milk Protein Concentrate Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $367.5 Million by 2028. The Japan market is estimated to grow a CAGR of 5.1% during (2022 - 2028). Additionally, The India market would experience a CAGR of 6.5% during (2022 - 2028).
Based on Application, the market is segmented into Packaged Products, Nutritional Products, Infant Formula and Others. Based on Concentration, the market is segmented into High, Medium and Low. Based on countries, the market is segmented into China, Japan, India, Australia, South Korea, Singapore, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Milk Protein Concentrate Market is Projected to reach USD 4.5 Billion by 2028, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fonterra Co-operative Group Limited, Schreiber Foods, Inc., Saputo, Inc., DANA Dairy Group Ltd., Royal FrieslandCampina N.V., Lactalis Group, Agri-Mark, Inc. (Cabot Creamery Cooperative), Arla Foods, Inc., Kerry Group PLC and FIT.
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