Table of Contents PART 01: EXECUTIVE SUMMARY PART 02: SCOPE OF THE REPORT PART 03: RESEARCH METHODOLOGY PART 04: MARKET LANDSCAPE • Market ecosystem • Market characteristics • Market segmentation analysis PART 05: MARKET SIZING • Market definition • Market sizing 2017 • Market size and forecast 2017-2022 PART 06: FIVE FORCES ANALYSIS • Bargaining power of buyers • Bargaining power of suppliers • Threat of new entrants • Threat of substitutes • Threat of rivalry • Market condition PART 07: MARKET SEGMENTATION BY APPLICATION • Segmentation by application • Comparison by application • Nutraceuticals – Market size and forecast 2017-2022 • Food and beverage – Market size and forecast 2017-2022 • Others – Market size and forecast 2017-2022 • Market opportunity by application PART 08: CUSTOMER LANDSCAPE PART 09: REGIONAL LANDSCAPE • Geographical segmentation • Regional comparison • Americas – Market size and forecast 2017-2022 • EMEA – Market size and forecast 2017-2022 • APAC – Market size and forecast 2017-2022 • Key leading countries • The US • The UK • Italy • Japan • China • Brazil • Market opportunity PART 10: DECISION FRAMEWORK PART 11: DRIVERS AND CHALLENGES • Market drivers • Market challenges PART 12: MARKET TRENDS • Increasing demand for infant formula • Premiumization • Rising focus on physical fitness PART 13: VENDOR LANDSCAPE • Overview • Landscape disruption PART 14: VENDOR ANALYSIS • Vendors covered • Vendor classification • Market positioning of vendors • Hilmar Cheese Company • Glanbia • Arla Foods Ingredients Group • Carbery Group • Agropur • Milk Specialties PART 15: APPENDIX • List of abbreviations List of Exhibits Exhibit 01: Parent market Exhibit 02: Related market Exhibit 03: Global functional food and nutraceuticals market Exhibit 04: Market characteristics Exhibit 05: Market segments Exhibit 06: Market definition - Inclusions and exclusions checklist Exhibit 07: Market size 2017 Exhibit 08: Validation techniques employed for market sizing 2017 Exhibit 09: Global hydrolyzed whey protein market – Market size and forecast 2017-2022 ($ mn) Exhibit 10: Global hydrolyzed whey protein market – Year-over-year growth 2018-2022 (%) Exhibit 11: Five forces analysis 2017 Exhibit 12: Five forces analysis 2022 Exhibit 13: Bargaining power of buyers Exhibit 14: Bargaining power of suppliers Exhibit 15: Threat of new entrants Exhibit 16: Threat of substitutes Exhibit 17: Threat of rivalry Exhibit 18: Market condition - Five forces 2017 Exhibit 19: Application – Market share 2017-2022 (%) Exhibit 20: Comparison by application Exhibit 21: Nutraceuticals – Market size and forecast 2017-2022 ($ mn) Exhibit 22: Nutraceuticals – Year-over-year growth 2018-2022 (%) Exhibit 23: Food and beverages – Market size and forecast 2017-2022 ($ mn) Exhibit 24: Food and beverages – Year-over-year growth 2018-2022 (%) Exhibit 25: Others – Market size and forecast 2017-2022 ($ mn) Exhibit 26: Others – Year-over-year growth 2018-2022 (%) Exhibit 27: Market opportunity by application Exhibit 28: Customer landscape Exhibit 29: Global hydrolyzed whey protein market – Market share by geography 2017-2022 (%) Exhibit 30: Regional comparison Exhibit 31: Americas – Market size and forecast 2017-2022 ($ mn) Exhibit 32: Americas – Year-over-year growth 2018-2022 (%) Exhibit 33: EMEA – Market size and forecast 2017-2022 ($ mn) Exhibit 34: EMEA – Year-over-year growth 2018-2022 (%) Exhibit 35: APAC – Market size and forecast 2017-2022 ($ mn) Exhibit 36: APAC – Year-over-year growth 2018-2022 (%) Exhibit 37: Key leading countries Exhibit 38: US - market size and forecast 2017-2022 ($ mn) Exhibit 39: UK - market size and forecast 2017-2022 ($ mn) Exhibit 40: Italy - market size and forecast 2017-2022 ($ mn) Exhibit 41: Japan - market size and forecast 2017-2022 ($ mn) Exhibit 42: China - market size and forecast 2017-2022 ($ mn) Exhibit 43: Brazil - market size and forecast 2017-2022 ($ mn) Exhibit 44: Market opportunity Exhibit 45: Vendor landscape Exhibit 46: Landscape disruption Exhibit 47: Vendors covered Exhibit 48: Vendor classification Exhibit 49: Market positioning of vendors Exhibit 50: Hilmar Cheese Company overview Exhibit 51: Hilmar Cheese Company – Business segments Exhibit 52: Hilmar Cheese Company – Organizational developments Exhibit 53: Hilmar Cheese Company – Geographic focus Exhibit 54: Hilmar Cheese Company – Segment focus Exhibit 55: Hilmar Cheese Company – Key offerings Exhibit 56: Glanbia overview Exhibit 57: Glanbia – Business segments Exhibit 58: Glanbia – Organizational developments Exhibit 59: Glanbia – Geographic focus Exhibit 60: Glanbia – Segment focus Exhibit 61: Glanbia – Key offerings Exhibit 62: Arla Foods Ingredients Group overview Exhibit 63: Arla Foods Ingredients Group – Business segments Exhibit 64: Arla Foods Ingredients Group – Organizational developments Exhibit 65: Arla Foods Ingredients Group – Geographic focus Exhibit 66: Arla Foods Ingredients Group – Segment focus Exhibit 67: Arla Foods Ingredients Group – Key offerings Exhibit 68: Carbery Group overview Exhibit 69: Carbery Group – Business segments Exhibit 70: Carbery Group – Organizational developments Exhibit 71: Carbery Group – Geographic focus Exhibit 72: Carbery Group – Segment focus Exhibit 73: Carbery Group – Key offerings Exhibit 74: Agropur overview Exhibit 75: Agropur – Business segments Exhibit 76: Agropur– Organizational developments Exhibit 77: Agropur – Geographic focus Exhibit 78: Agropur – Segment focus Exhibit 79: Agropur– Key offerings Exhibit 80: Milk Specialties overview Exhibit 81: Milk Specialties – Business segments Exhibit 82: Milk Specialties – Organizational developments Exhibit 83: Milk Specialties – Geographic focus Exhibit 84: Milk Specialties – Segment focus Exhibit 85: Milk Specialties – Key offerings

Agropur, Arla Foods Ingredients Group, Carbery Group, Glanbia, Hilmar Cheese Company, and Milk Specialties.