Market Trends of asia-pacific milk protein Industry
Increasing number of health and fitness centers is driving the market
- The sector is driven by increased health-related concerns and expanding membership at health clubs. The increasing number of fitness clubs/health clubs further fosters the availability of consumers and their involvement rate. For instance, in 2020, China had the most health and fitness clubs in the region, with 27,000 clubs. South Korea and Japan had 6,590 and 4,950 fitness clubs, respectively.
- The increase in the number of health and fitness clubs majorly impacts the market as they are the major marketplace for sports nutrition products in the region. According to the International Health, Racquet, and Sportsclub Association (IHRSA), there is an increase in fitness franchises in the region, driving sales of the sports nutrition segment. IHRSA launched national and state-level grassroots campaigns, ranging from reopening health clubs to urging lawmakers to include the health and fitness industry in any coronavirus relief package, as more than 79,000 fitness professionals and consumers took action on IHRSA campaigns relating to the coronavirus pandemic.
- The importance of leading a healthy lifestyle fuels the sports nutrition marketplace. The accelerated growth of the Indian sports nutrition market in the last few years has been spurred primarily by the huge growth in India’s sports industry, strong demand for various health supplements and energy drinks among athletes and bodybuilders, and increasing youth participation in sports and activities that require a high level of fitness and nutrition. Protein supplements lead the market, having a share of 70% in the overall consumption in this segment. The Indian sports nutrition market currently lies in the unorganized sector with a market size of over INR 1,300 crores and a Y-o-Y growth of about 25%
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Government initiative to support milk production in developing countries like India
- In the region, India and China are the highest milk-producing countries, accounting for nearly 80% of production. The strongest gains over the past decade have been registered in Southeast Asia, where a lack of traditional consumption of fresh milk, combined with low tariffs, has led to imported milk products accounting for nearly one-quarter of domestic requirements in the subregion. Insect protein is in high demand as a nutritious feed resource in the Animal Feed sector due to its high protein digestibility (in-vitro protein digestibility values of 75.7% and 76.2%). For instance, in Thailand, around 20,000 independent cricket farmers generate the majority of their household income from rearing edible crickets.
- China's milk production in the region inclined by 4.5% to more than 34.5 MMT in 2021. This is due to improved productivity and COVID-19 disruptions, which caused China's production and consumption of milk to grow rapidly. Imports are also showing positive growth due to consumer demand and requirements for the manufacturing industries in China. Skim milk powder, which is majorly used for milk protein production, has increased due to the Chinese food industry depending more on imported skim milk powder.
- In countries like India, milk production is highly supported by government authorities implementing specific regulations in different states. To boost milk output in India, the Uttar Pradesh state government is establishing milk conservation centers and greenfield dairies. In the nine years during 2019-2020, milk production in India rose by 55.79%. In 2020, the value of India's whole cow milk production was approximately USD 36.8 billion, the highest in the Asia-Pacific region, followed by China, with a value of USD 18.7 billion.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Changing lifestyles with increasing number of working women is boosting the market
- Market competitiveness is boosting the growth
- Sauces segment to maintain lion's share in the APAC market
- Soaring demand for plant-based dairy products within APAC countries
- APAC's growing appetite for plant-based meats to boost demand
- Healthy snacking is likely to impel the market
- Increasing demand for natural/organic beauty and personal care products
- Rising consumption of bakery goods as a meal is driving the industry
- Increased consumer preference for convenient breakfast cereal products
- Premium confectionery is a current market trend
- Increase in elderly population to drive demand
- Increasing developments spiking the segmental sales
- Increase in demand for ruminant feed
- Whey and milk protein to increase its share in animal protein consumption
