China Milk Protein Market Size

China Milk Protein Market Analysis

The China milk protein market size is expected to grow from USD 121.46 million in 2023 to USD 156.58 million by 2028, at a CAGR of 5.21% during the forecast period (2023-2028).

• The China milk protein market is majorly driven by the growing dairy sector and increasing consumer demand for convenient and healthy dairy products. Owing to rising health concerns like digestive and gut disorders, consumers are inclined toward dairy products that aid gut health, which is supporting the market's growth. Additionally, the demand for milk protein ingredients from infant formula manufacturers is on the rise as awareness regarding the benefits of infant formula across the country. The increasing imports into the country can depict the demand for infant milk formula.
• For instance, according to the Food and Agriculture Organization (FAO), in 2022, the volume of infant milk formula imported to China amounted to 280 thousand metric tons, up from 273 thousand tons in the previous year.
• Additionally, due to its delightful taste and extensive variety, yogurt effortlessly integrates into one's diet, with dairy producers placing a strong emphasis on promoting the probiotic advantages of their yogurt products. These factors, combined with the introduction of versatile ingredients by industry players, are not only fueling demand but also propelling the market's expansion.
• Moreover, new rules and regulations by Chinese authorities in reforming the protein requirements for milk and formulated milk powder products designed for children, adults, and older people are expected to create more opportunities for the players in the market to develop more innovative and good quality milk protein ingredients.
• In February 2023, China's introduction of the world's strictest nutrient standards for infant formula forced infant formula makers to invest heavily to re-make, test, certify, and re-register their products for China before potentially conducting new marketing campaigns. This reform is further expected to bring significant changes in the industry, with bigger domestic and international brands likely to increase their spending on research and developmental activities, resulting in the introduction of more quality ingredients.
• Similarly, small and medium players are expected to have more innovative opportunities to tap into. However, the rise in the acceptance of alternative proteins like plant proteins among consumers and manufacturers considering them as a significant alternative to be incorporated in their products is expected to have the potential to hamper the market's growth during the forecast period.