The Future of the Soy Products Market in Indonesia to 2017

673 1. The Future of the Soy Products Market in Indonesia to 2017 Market Size, Distribution and Brand Share, Key Events and Competitive Landscape Reference Code: FD0916ER www.canadean-winesandspirits.com

Table of Contents 1. Introduction... 10 1.1 What is this Report About?... 10 1.2 Definitions... 10 1.2.1 This report provides 2012 actual sales; while forecasts are provided for 2013 2017... 10 1.2.2 Category Definitions... 10 1.2.3 Distribution Channel Definitions... 11 1.2.4 Volume Units and Aggregations... 12 1.2.5 CAGR Definition and Calculation... 12 1.2.6 Graphical representation of Brands... 12 1.2.7 Exchange Rates... 13 1.2.8 Methodology Summary... 13 2. Indonesia Soy Products Market Analysis, 2007 17... 14 2.1 Soy Products Value Analysis, 2007 17... 14 2.1.1 Overall Soy Products Market Value, 2007 17... 14 2.1.2 Soy Products Market Value by Category, 2007 17... 16 2.1.3 Market Growth Dynamics by Value Soy Products, 2007 17... 19 2.2 Soy Products Volume Analysis, 2007 17... 20 2.2.1 Overall Soy Products Market Volume, 2007 17... 20 2.2.2 Per-Capita Consumption - Soy Products, 2007 17... 21 2.2.3 Soy Products Market Volume by Category, 2007 17... 22 2.2.4 Market Growth Dynamics by Volume Soy Products, 2007 17... 24 3. Indonesia Soy Desserts Market Analysis, 2007 17... 25 3.1 Soy Desserts Value Analysis, 2007 17... 25 3.1.1 Soy Desserts Market by Value, 2007 17... 25 3.1.2 Average Consumer Price/Kg Soy Desserts, 2007 17... 27 3.2 Soy Desserts Volume Analysis, 2007 17... 28 3.2.1 Soy Desserts Market by Volume, 2007 17... 28 3.3 Market Growth Dynamics Soy Desserts, 2007 17... 29 3.3.1 Soy Desserts Market Growth Dynamics by Value, 2007 17... 29 3.3.2 Soy Desserts Market Growth Dynamics by Volume, 2007 17... 30 3.4 Soy Desserts Brand Analysis, 2009 12... 31 3.5 Soy Desserts Distribution Channel Analysis, 2009 12... 33 4. Indonesia Soy Drinks Market Analysis, 2007 17... 36 4.1 Soy Drinks Value Analysis, 2007 17... 36 4.1.1 Soy Drinks Market by Value, 2007 17... 36 2

4.1.2 Average Consumer Price/Kg Soy Drinks, 2007 17... 38 4.2 Soy Drinks Volume Analysis, 2007 17... 39 4.2.1 Soy Drinks Market by Volume, 2007 17... 39 4.3 Market Growth Dynamics Soy Drinks, 2007 17... 40 4.3.1 Soy Drinks Market Growth Dynamics by Value, 2007 17... 40 4.3.2 Soy Drinks Market Growth Dynamics by Volume, 2007 17... 41 4.4 Soy Drinks Brand Analysis, 2009 12... 42 4.5 Soy Drinks Distribution Channel Analysis, 2009 12... 44 5. Indonesia Soy Milk & Cream Market Analysis, 2007 17... 47 5.1 Soy Milk & Cream Value Analysis, 2007 17... 47 5.1.1 Soy Milk & Cream Market by Value, 2007 17... 47 5.1.2 Average Consumer Price/Kg Soy Milk & Cream, 2007 17... 49 5.2 Soy Milk & Cream Volume Analysis, 2007 17... 50 5.2.1 Soy Milk & Cream Market by Volume, 2007 17... 50 5.3 Market Growth Dynamics Soy Milk & Cream, 2007 17... 51 5.3.1 Soy Milk & Cream Market Growth Dynamics by Value, 2007 17... 51 5.3.2 Soy Milk & Cream Market Growth Dynamics by Volume, 2007 17... 52 5.4 Soy Milk & Cream Brand Analysis, 2009 12... 53 5.5 Soy Milk & Cream Distribution Channel Analysis, 2009 12... 55 6. Profiles of Companies Active in the Global Soy Products Market... 58 6.1 Cargill, Incorporated... 58 6.1.1 Cargill, Incorporated Business Analysis... 58 6.1.2 Cargill, Incorporated Major Products and Services... 59 6.1.3 Cargill, Incorporated Key Competitors... 61 6.1.4 Cargill, Incorporated SWOT Analysis... 61 6.1.5 Cargill, Incorporated History... 66 6.1.6 Cargill, Incorporated Key Employees... 70 6.1.7 Cargill, Incorporated Locations and Subsidiaries... 71 6.2 Mondelez International, Inc.... 77 6.2.1 Mondelez International, Inc. Business Analysis... 77 6.2.2 Mondelez International, Inc. Major Products and Services... 78 6.2.3 Mondelez International, Inc. Key Competitors... 80 6.2.4 Mondelez International, Inc. SWOT Analysis... 81 6.2.5 Mondelez International, Inc. History... 85 6.2.6 Mondelez International, Inc. Key Employees... 88 6.2.7 Mondelez International, Inc. Locations and Subsidiaries... 90 6.3 Danone SA... 95 6.3.1 Danone SA Business Analysis... 95 6.3.2 Danone SA Major Products and Services... 96 3

6.3.3 Danone SA Key Competitors... 97 6.3.4 Danone SA SWOT Analysis... 97 6.3.5 Danone SA History... 102 6.3.6 Danone SA Key Employees... 105 6.3.7 Danone SA Locations and Subsidiaries... 106 6.4 Kraft Foods Group, Inc.... 112 6.4.1 Kraft Foods Group, Inc. Business Analysis... 112 6.4.2 Kraft Foods Group, Inc. Major Products and Services... 113 6.4.3 Kraft Foods Group, Inc. Key Competitors... 114 6.4.4 Kraft Foods Group, Inc. SWOT Analysis... 114 6.4.5 Kraft Foods Group, Inc. History... 118 6.4.6 Kraft Foods Group, Inc. Key Employees... 121 6.4.7 Kraft Foods Group, Inc. Locations and Subsidiaries... 123 6.5 Fonterra Co-operative Group Limited... 126 6.5.1 Fonterra Co-operative Group Limited Business Analysis... 126 6.5.2 Fonterra Co-operative Group Limited Major Products and Services... 127 6.5.3 Fonterra Co-operative Group Limited Key Competitors... 128 6.5.4 Fonterra Co-operative Group Limited SWOT Analysis... 128 6.5.5 Fonterra Co-operative Group Limited History... 133 6.5.6 Fonterra Co-operative Group Limited Key Employees... 135 6.5.7 Fonterra Co-operative Group Limited Locations and Subsidiaries... 137 6.6 Land O Lakes, Inc.... 141 6.6.1 Land O Lakes, Inc. Business Analysis... 141 6.6.2 Land O Lakes, Inc. Major Products and Services... 142 6.6.3 Land O Lakes, Inc. Key Competitors... 143 6.6.4 Land O Lakes, Inc. SWOT Analysis... 143 6.6.5 Land O Lakes, Inc. History... 148 6.6.6 Land O Lakes, Inc. Key Employees... 150 6.6.7 Land O Lakes, Inc. Locations and Subsidiaries... 152 6.7 Meiji Holdings Co., Ltd.... 155 6.7.1 Meiji Holdings Co., Ltd. Business Analysis... 155 6.7.2 Meiji Holdings Co., Ltd. Major Products and Services... 156 6.7.3 Meiji Holdings Co., Ltd. Key Competitors... 158 6.7.4 Meiji Holdings Co., Ltd. SWOT Analysis... 158 6.7.5 Meiji Holdings Co., Ltd. History... 164 6.7.6 Meiji Holdings Co., Ltd. Key Employees... 168 6.7.7 Meiji Holdings Co., Ltd. Locations and Subsidiaries... 168 6.8 Royal FrieslandCampina N.V.... 171 6.8.1 Royal FrieslandCampina N.V. Business Analysis... 171 6.8.2 Royal FrieslandCampina N.V. Major Products and Services... 172 4

6.8.3 Royal FrieslandCampina N.V. Key Competitors... 173 6.8.4 Royal FrieslandCampina N.V. SWOT Analysis... 173 6.8.5 Royal FrieslandCampina N.V. History... 180 6.8.6 Royal FrieslandCampina N.V. Key Employees... 184 6.8.7 Royal FrieslandCampina N.V. Locations and Subsidiaries... 185 6.9 Dean Foods Company... 191 6.9.1 Dean Foods Company Business Analysis... 191 6.9.2 Dean Foods Company Major Products and Services... 192 6.9.3 Dean Foods Company Key Competitors... 194 6.9.4 Dean Foods Company SWOT Analysis... 195 6.9.5 Dean Foods Company History... 200 6.9.6 Dean Foods Company Key Employees... 202 6.9.7 Dean Foods Company Locations and Subsidiaries... 203 6.10 Coca-Cola Hellenic Bottling Company S.A.... 208 6.10.1 Coca-Cola Hellenic Bottling Company S.A. Business Analysis... 208 6.10.2 Coca-Cola Hellenic Bottling Company S.A. Major Products and Services... 209 6.10.3 Coca-Cola Hellenic Bottling Company S.A. Key Competitors... 209 6.10.4 Coca-Cola Hellenic Bottling Company S.A. SWOT Analysis... 210 6.10.5 Coca-Cola Hellenic Bottling Company S.A. History... 215 6.10.6 Coca-Cola Hellenic Bottling Company S.A. Key Employees... 217 6.10.7 Coca-Cola Hellenic Bottling Company S.A. Locations and Subsidiaries... 218 7. News and Key Events in the Global Soy Products Market... 222 7.1 Category News... 222 7.1.1 Almost Nuts partners with L&L Foods... 222 7.1.2 USANA guarantees label matches product... 222 7.1.3 Succesful cooperation for sustainable soy production in Brazil... 223 7.1.4 EFSA concludes BioExx s opinion on Isolexx as novel food ingredient... 223 7.1.5 Ruchi Soya to foray into ready-to-cook segment in India... 224 7.1.6 neat Foods introduces soy-free meat replacement product range in US... 224 7.1.7 Kikkoman Foods, Inc. Wisconsin plant celebrates 40th anniversary... 225 7.1.8 Hong Kong food safety agency issues peanut allergy alert for soybean paste... 225 7.1.9 WSDA revokes food processing license of Chu Minh... 226 7.1.10 Production begins at new Kikkoman food factory... 227 8. Deal Activities in the Global Soy Products Market... 228 8.1 Category Deals... 228 8.1.1 Board of Directors of Ruchi Soya Industries approve formation of joint venture with DJ Hendrick International and KMDI International... 228 8.1.2 BRF to acquire 40% stake in Al Khan Foodstuff... 229 8.1.3 Cargill acquires Leonardo Olive Oil business of Dalmia Continental... 231 5

8.1.4 Hahn & Company acquires 57% stake in Woongjin Foods... 231 8.1.5 Toksoz Holding acquires ZUMOS PALMA from GRUPO LECHE PASCUAL... 233 8.1.6 Fonterra acquires further 3.06% stake in Bega Cheese... 234 8.1.7 JG Summit Holdings to raise US$424.16 million by issuing 5.2317% fixed rate bonds due 2019... 236 8.1.8 JG Summit Holdings to raise US$119.82 million by issuing 5.2442% fixed rate bonds due 2021... 237 8.1.9 JG Summit Holdings to raise US$3.76 million by issuing 5.3% fixed rate bonds due 2024239 8.1.10 CHS prices public offering of US$250 million shares... 240 9. Appendix... 243 9.1 About Canadean... 243 9.2 Disclaimer... 243 6

List of Figures Figure 1: Indonesia Soy Products Market Value (LCU m) and Growth (Y-o-Y), 2007 17... 15 Figure 2: Indonesia Soy Products Market Value (LCU m) by Category, 2007 17... 18 Figure 3: Indonesia Soy Products Market Dynamics, by Category, by Market Value, 2007 17... 19 Figure 4: Indonesia Soy Products Market Volume (Kg m) and Growth (Y-o-Y), 2007 17... 20 Figure 5: Indonesia Per-Capita Soy Products Consumption (Kg/head & Y-o-Y growth), 2007 17... 21 Figure 6: Indonesia Soy Products Market Volume (Kg m) by Category, 2007 17... 23 Figure 7: Indonesia Soy Products Market Dynamics, by Category, by Market Volume 2007 17... 24 Figure 8: Indonesia Soy Desserts Market Value (LCU m) and Growth (Y-o-Y), 2007 17... 26 Figure 9: Indonesia Soy Desserts Average Consumer Price (LCU) and Growth (Y-o-Y), 2007 17... 27 Figure 10: Indonesia Soy Desserts Market Volume (Kg m) and Growth (Y-o-Y), 2007 17... 28 Figure 11: Indonesia Soy Desserts Market Growth Dynamics by Value, 2007 17... 29 Figure 12: Indonesia Soy Desserts Market Growth Dynamics by Volume, 2007 17... 30 Figure 13: Indonesia Soy Desserts Market Value by Brands (LCU m), 2009 12... 32 Figure 14: Indonesia Soy Desserts Market Value by Distribution Channel (LCU m), 2009 12... 35 Figure 15: Indonesia Soy Drinks Market Value (LCU m) and Growth (Y-o-Y), 2007 17... 37 Figure 16: Indonesia Soy Drinks Average Consumer Price (LCU) and Growth (Y-o-Y), 2007 17... 38 Figure 17: Indonesia Soy Drinks Market Volume (Kg m) and Growth (Y-o-Y), 2007 17... 39 Figure 18: Indonesia Soy Drinks Market Growth Dynamics by Value, 2007 17... 40 Figure 19: Indonesia Soy Drinks Market Growth Dynamics by Volume, 2007 17... 41 Figure 20: Indonesia Soy Drinks Market Value by Brands (LCU m), 2009 12... 43 Figure 21: Indonesia Soy Drinks Market Value by Distribution Channel (LCU m), 2009 12... 46 Figure 22: Indonesia Soy Milk & Cream Market Value (LCU m) and Growth (Y-o-Y), 2007 17... 48 Figure 23: Indonesia Soy Milk & Cream Average Consumer Price (LCU) and Growth (Y-o-Y), 2007 17... 49 Figure 24: Indonesia Soy Milk & Cream Market Volume (Kg m) and Growth (Y-o-Y), 2007 17... 50 Figure 25: Indonesia Soy Milk & Cream Market Growth Dynamics by Value, 2007 17... 51 Figure 26: Indonesia Soy Milk & Cream Market Growth Dynamics by Volume, 2007 17... 52 Figure 27: Indonesia Soy Milk & Cream Market Value by Brands (LCU m), 2009 12... 54 Figure 28: Indonesia Soy Milk & Cream Market Value by Distribution Channel (LCU m), 2009 12... 57 7

List of Tables Table 1: Category Definitions - Soy Products Market... 10 Table 2: Distribution Channel Definitions - Soy Products Market... 11 Table 3: Volume Units for Soy Products Market... 12 Table 4: Indonesia Exchange Rate LCU USD (Annual Average), 2007 2012... 13 Table 5: Indonesia Soy Products Market Value (LCU m) and Growth (Y-o-Y), 2007 17... 14 Table 6: Indonesia Soy Products Market Value (USD m) and Growth (Y-o-Y), 2007 17... 14 Table 7: Indonesia Soy Products Market Value (LCU m) by Category, 2007 12... 16 Table 8: Indonesia Soy Products Market Value (LCU m) by Category, 2012 17... 16 Table 9: Indonesia Soy Products Market Value (USD m) by Category, 2007 12... 17 Table 10: Indonesia Soy Products Market Value (USD m) by Category, 2012 17... 17 Table 11: Indonesia Soy Products Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Category, by Value (LCU m)... 19 Table 12: Indonesia Soy Products Market Volume (Kg m) and Growth (Y-o-Y), 2007 17... 20 Table 13: Indonesia Per-capita Soy Products Consumption (Kg/head & Y-o-Y growth), 2007 17... 21 Table 14: Indonesia Soy Products Market Volume (Kg m) by Category, 2007 12... 22 Table 15: Indonesia Soy Products Market Volume (Kg m) by Category, 2012 17... 22 Table 16: Indonesia Soy Products Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Category, by volume (Kg m)... 24 Table 17: Indonesia Soy Desserts Market Value (LCU m) and Growth (Y-o-Y), 2007 17... 25 Table 18: Indonesia Soy Desserts Market Value (USD m) and Growth (Y-o-Y), 2007 17... 25 Table 19: Indonesia Soy Desserts Average Consumer Price (LCU) and Growth (Y-o-Y), 2007 17... 27 Table 20: Indonesia Soy Desserts Market Volume (Kg m) and Growth (Y-o-Y), 2007 17... 28 Table 21: Indonesia Soy Desserts Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Value (LCU m), by Segments... 29 Table 22: Indonesia Soy Desserts Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Volume (Kg m), by Segments... 30 Table 23: Indonesia Soy Desserts Market Value by Brands (LCU m), 2009 12... 31 Table 24: Indonesia Soy Desserts Market Value by Brands (USD m), 2009 12... 31 Table 25: Indonesia Soy Desserts Market Value by Distribution Channel (LCU m), 2009 12... 33 Table 26: Indonesia Soy Desserts Market Value by Distribution Channel (USD m), 2009 12... 34 Table 27: Indonesia Soy Drinks Market Value (LCU m) and Growth (Y-o-Y), 2007 17... 36 Table 28: Indonesia Soy Drinks Market Value (USD m) and Growth (Y-o-Y), 2007 17... 36 Table 29: Indonesia Soy Drinks Average Consumer Price (LCU) and Growth (Y-o-Y), 2007 17... 38 Table 30: Indonesia Soy Drinks Market Volume (Kg m) and Growth (Y-o-Y), 2007 17... 39 Table 31: Indonesia Soy Drinks Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Value (LCU m), by Segments... 40 Table 32: Indonesia Soy Drinks Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Volume (Kg m), by Segments... 41 Table 33: Indonesia Soy Drinks Market Value by Brands (LCU m), 2009 12... 42 Table 34: Indonesia Soy Drinks Market Value by Brands (USD m), 2009 12... 42 Table 35: Indonesia Soy Drinks Market Value by Distribution Channel (LCU m), 2009 12... 44 Table 36: Indonesia Soy Drinks Market Value by Distribution Channel (USD m), 2009 12... 45 Table 37: Indonesia Soy Milk & Cream Market Value (LCU m) and Growth (Y-o-Y), 2007 17... 47 Table 38: Indonesia Soy Milk & Cream Market Value (USD m) and Growth (Y-o-Y), 2007 17... 47 Table 39: Indonesia Soy Milk & Cream Average Consumer Price (LCU) and Growth (Y-o-Y), 2007 17... 49 Table 40: Indonesia Soy Milk & Cream Market Volume (Kg m) and Growth (Y-o-Y), 2007 17... 50 Table 41: Indonesia Soy Milk & Cream Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Value (LCU m), by Segments... 51 Table 42: Indonesia Soy Milk & Cream Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Volume (Kg m), by Segments... 52 Table 43: Indonesia Soy Milk & Cream Market Value by Brands (LCU m), 2009 12... 53 Table 44: Indonesia Soy Milk & Cream Market Value by Brands (USD m), 2009 12... 53 Table 45: Indonesia Soy Milk & Cream Market Value by Distribution Channel (LCU m), 2009 12... 55 Table 46: Indonesia Soy Milk & Cream Market Value by Distribution Channel (USD m), 2009 12... 56 Table 47: Cargill, Incorporated Fast Facts... 58 Table 48: Cargill, Incorporated Major Products and Services... 59 Table 49: Cargill, Incorporated History... 66 8

Table 50: Cargill, Incorporated Key Employees... 70 Table 51: Cargill, Incorporated Other Locations... 71 Table 52: Cargill, Incorporated Subsidiaries... 72 Table 53: Mondelez International, Inc. Fast Facts... 77 Table 54: Mondelez International, Inc. Major Products and Services... 78 Table 55: Mondelez International, Inc. History... 85 Table 56: Mondelez International, Inc. Key Employees... 88 Table 57: Mondelez International, Inc. Subsidiaries... 90 Table 58: Danone SA Fast Facts... 95 Table 59: Danone SA Major Products and Services... 96 Table 60: Danone SA History... 102 Table 61: Danone SA Key Employees... 105 Table 62: Danone SA Subsidiaries... 106 Table 63: Kraft Foods Group, Inc. Fast Facts... 112 Table 64: Kraft Foods Group, Inc. Major Products and Services... 113 Table 65: Kraft Foods Group, Inc. History... 118 Table 66: Kraft Foods Group, Inc. Key Employees... 121 Table 67: Kraft Foods Group, Inc. Subsidiaries... 123 Table 68: Fonterra Co-operative Group Limited Fast Facts... 126 Table 69: Fonterra Co-operative Group Limited Major Products and Services... 127 Table 70: Fonterra Co-operative Group Limited History... 133 Table 71: Fonterra Co-operative Group Limited Key Employees... 135 Table 72: Fonterra Co-operative Group Limited Subsidiaries... 137 Table 73: Land O Lakes, Inc. Fast Facts... 141 Table 74: Land O Lakes, Inc. Major Products and Services... 142 Table 75: Land O Lakes, Inc. History... 148 Table 76: Land O Lakes, Inc. Key Employees... 150 Table 77: Land O Lakes, Inc. Other Locations... 152 Table 78: Land O Lakes, Inc. Subsidiaries... 153 Table 79: Meiji Holdings Co., Ltd. Fast Facts... 155 Table 80: Meiji Holdings Co., Ltd. Major Products and Services... 156 Table 81: Meiji Holdings Co., Ltd. History... 164 Table 82: Meiji Holdings Co., Ltd. Key Employees... 168 Table 83: Meiji Holdings Co., Ltd. Other Locations... 169 Table 84: Meiji Holdings Co., Ltd. Subsidiaries... 170 Table 85: Royal FrieslandCampina N.V. Fast Facts... 171 Table 86: Royal FrieslandCampina N.V. Major Products and Services... 172 Table 87: Royal FrieslandCampina N.V. History... 180 Table 88: Royal FrieslandCampina N.V. Key Employees... 184 Table 89: Royal FrieslandCampina N.V. Other Locations... 185 Table 90: Royal FrieslandCampina N.V. Subsidiaries... 188 Table 91: Dean Foods Company Fast Facts... 191 Table 92: Dean Foods Company Major Products and Services... 192 Table 93: Dean Foods Company History... 200 Table 94: Dean Foods Company Key Employees... 202 Table 95: Dean Foods Company Subsidiaries... 203 Table 96: Coca-Cola Hellenic Bottling Company S.A. Fast Facts... 208 Table 97: Coca-Cola Hellenic Bottling Company S.A. Major Products and Services... 209 Table 98: Coca-Cola Hellenic Bottling Company S.A. History... 215 Table 99: Coca-Cola Hellenic Bottling Company S.A. Key Employees... 217 Table 100: Coca-Cola Hellenic Bottling Company S.A. Subsidiaries... 218 9

1. Introduction 1.1 What is this Report About? This report is the result of Canadean s extensive market research covering the Soy Products Market in Indonesia. It provides detailed segmentation of historic and future Soy Products Market, covering key categories and segments. As such the report is an essential tool for companies active across the Soy Products industry and for new players considering entry into Indonesia s Soy Products market. 1.2 Definitions All the data is collected in volume terms. Soy Products Market refers to domestic Market only and includes imports. Please note that rounding errors may occur. 1.2.1 This report provides 2012 actual sales; while forecasts are provided for 2013 2017 1.2.2 Category Definitions Table 1: Category Definitions - Soy Products Market Category Segment Definition Soy Desserts Soy Drinks Soy Milk & Cream Soy Desserts - these are non-dairy chilled desserts based on soy extracts. It includes non-dairy equivalents to yogurts, fromage frais, cheesecakes, flans and mousses. Does not include frozen desserts. Example includes the Alpro yogurt range. Soy Drinks - Soy (or "soya") drinks are plain or flavoured dairy-free beverages made using soy extracts. They are positioned as regular beverages (competing against soft drinks) rather than as straight alternatives to liquid milk. E.g. Alpro's Soya Dairy Free Shakes Soy Milk & Cream - Soy (or "soya") based milks and creams which are positioned as an alternative to either liquid milk or cream. Examples include Dean Foods Silk Soymilk, Alpro Soya. 10

1.2.3 Distribution Channel Definitions Table 2: Distribution Channel Definitions - Soy Products Market Distribution Channel Cash & carries & warehouse clubs (Cash & Carry) Discount, variety store & general merchandise retailers (Dollar Stores) Convenience stores & gas stations (Convenience stores) Department stores (Department stores) Hypermarkets & supermarkets (Hyper/ Super Markets) Vending machines (Vending machines) Drug stores & Pharmacies (Pharmacies) Food & drinks specialists (Food & drinks specialists) eretailers (eretailers) Health & Beauty Stores Other general retailers (Others) Definition Cash & carries sell from a wholesale warehouse to customers (small retailers, professional users) who pay on the spot and transport goods away themselves. Warehouse clubs are no-frills stores that sell discounted goods to members who pay an annual fee. Delivered wholesale sales are not included. In our data only sales from these stores direct to the public (for example through work place deals allowing otherwise regular consumers to shop there) are covered. Example: Makro, Metro, Costco, Sams Club Dollar Stores, Variety Stores & General Merchandise Retailers - A variety store or pricepoint retailer (including Dollar stores) is a retail store that sells inexpensive items, often with a single price for all items in the store, or a general low price policy. Typical merchandise includes cleaning supplies, toys, household goods and gardening equipment, basic foods and beverages. A general store, general merchandise store, or small town store carries a (broad) general line of merchandise, often in a medium (and sometimes small) store format, serving the needs of either the surrounding town or rural area. They differ from convenience stores or corner shops in that it will be the main shop for the community rather than a convenient supplement and typically carries a broader product line. Example: 9 to 9 Dollar Shop. Convenience Stores - Includes all sales through stores of an area generally less than 300 sq m, that specialize in a limited range of food & grocery products designed primarily for consumers with top-up shopping needs. Also includes sales in retail outlets attached to gas stations, where fuel is the main revenue driver, kiosks, and newsstands. This also includes small independent retailers, particularly those present in countries such as China and India. Department Stores - Includes all sales through multi-category retailers, focusing primarily on non-grocery categories with distinct departments specializing in defined product areas. Examples include Bloomingdale's, Macy's, John Lewis and El Corte Ingles. Hypermarkets& Supermarkets (incl. discounters) - Hypermarkets/mass merchandisers include all sales through retailers with floor area over 2,500 sq m that carry full lines of both grocery and general merchandise (e.g. Walmart). Supermarkets include all sales through retailers with a floor area of 300 sq m -2,500 sq m that offer a wide, departmentalized range of groceries, and may carry some general merchandise lines (e.g. Sainsbury's, Kroger). It also includes hard grocery discounters such as Walmart. Vending machines - Includes paid-for sales from all vending machines not located within a store (e.g. public places, workplaces, pubs & Bars). Drug stores & Pharmacies - Stores licensed to dispense prescription (Rx) and over-thecounter (OTC) healthcare products and where these sales account for the majority of revenues. Also known as Drug store and Health store. This channel does not include supermarkets with pharmacy counters. Example: Hetro and Apollo pharmacies in India. Food & drinks specialists - Includes bakers, butchers, delicatessens, drinks specialists, fishmongers, greengrocers, Food & drinks only stores, and single category stores (e.g. stores selling only cheese, or only olives, or only honey, or only Confectionery products) Example : Amul Dairy shops In India. eretailers - Includes all sales that take place over the internet, irrespective of whether the vendor is a pure-play internet company or the online offering of a physical retailer. Example: Amazon, SPAR and FutureBazaar.com in India. Retailers that generate the majority of their revenue through a specific product type. In the personal care market, this includes specialist stores other than drugstores. Example: Boots in UK, Himalaya In India. Others - Includes other generalist retail channels not included in the categories above (e.g. market traders, charity stores, student union stores, direct sales, and Duty Free shops). 11

1.2.4 Volume Units and Aggregations Table 3: Volume Units for Soy Products Market Category Segment Units Soy Products Soy Desserts Kg m Soy Drinks Soy Milk & Cream Kg m Kg m 1.2.5 CAGR Definition and Calculation Compound Annual Growth Rate (CAGR) is the year-over-year growth rate of a value over a specified period of time. For this report, CAGR for historic time period is Calculated from 2007-2012, as CAGR = (( 2012 Value / 2007 Value ) ^ ( 1 / (2012-2007)) ) - 1 CAGR for forecast time period is Calculated from 2012-2017, as CAGR = (( 2017 Value / 2012 Value ) ^ ( 1 / (2017-2012)) ) - 1 For Brand Analysis and Distribution Channel Analysis, CAGR is Calculated from 2009-2012, as CAGR = (( 2012 Value / 2009 Value ) ^ ( 1 / (2012-2009)) ) - 1 1.2.6 Graphical representation of Brands Top 10 brands are considered for each category in the market subject to availability of such data. Brand analysis charts are displayed only for categories where data is available for more than two brands. 12

1.2.7 Exchange Rates All research is conducted in local currency in nominal prices. US dollar conversions for all historic data and for the latest year of actual data (2012 in this report) are made using an annual average exchange rate. For details please refer to table below. As we do not forecast exchange rates, the forecast data (from 2013 to 2017) is converted using a fixed 2012 exchange rate. As a result, annual growth rates for historic data will differ between local currencies and US dollar conversions, whereas they will be the same for forecasts. Table 4: Indonesia Exchange Rate LCU (Local Currency Unit) USD (Annual Average), 2007 2012 Currency 2007 2008 2009 2010 2011 2012 LCU USD xxxx xxxx xxxx xxxx xxxx xxxx 1.2.8 Methodology Summary In order to create the data for all the reports in this series and ensure its robustness, a comprehensive and empirically robust research methodology has been adopted. This combines both a large-scale program of industry research with the results of extensive primary industry interviewing and calling. Furthermore, all definitions are standardized across products and countries to ensure comparability. The two main research methods, secondary research and primary research (the program of interviewing industry contacts), are brought together and because both sets of research processes have been designed in conjunction with each other they can be combined and consolidated into the final, integrated data sets. The secondary research process involves covering publicly available sources, trade associations, specialist databases, company annual reports, and industry publications. While primary research involves a major program of interviewing leading industry executives for each category covered in each country all with local country experts; typically brand, product and marketing managers for major brands within each country. These processes help analysts in capturing both qualitative and quantitative information about the market. The final stage of the process is the triangulation of inputs obtained from all the research methods with the analyst s own understanding of the market in order to finalize the data. Once the data is finalized, it goes through various top level quality checks prior to publishing. 13

2. Indonesia Soy Products Market Analysis, 2007 17 2.1 Soy Products Value Analysis, 2007 17 2.1.1 Overall Soy Products Market Value, 2007 17 Table 5: Indonesia Soy Products Market Value (LCU m) and Growth (Y-o-Y), 2007 17 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Market Value Y-o-Y growth Table 6: Indonesia Soy Products Market Value (USD m) and Growth (Y-o-Y), 2007 17 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Market Value Y-o-Y growth 14

Figure 1: Indonesia Soy Products Market Value (LCU m) and Growth (Y-o-Y), 2007 17 15

2.1.2 Soy Products Market Value by Category, 2007 17 Table 7: Indonesia Soy Products Market Value (LCU m) by Category, 2007 12 Category 2007 2008 2009 2010 2011 2012 CAGR 2007 12 Soy Desserts Soy Drinks Soy Milk & Cream Overall Table 8: Indonesia Soy Products Market Value (LCU m) by Category, 2012 17 Category 2012 2013 2014 2015 2016 2017 CAGR 2012 17 Soy Desserts Soy Drinks Soy Milk & Cream Overall 16

Table 9: Indonesia Soy Products Market Value (USD m) by Category, 2007 12 Category 2007 2008 2009 2010 2011 2012 CAGR 2007 12 Soy Desserts Soy Drinks Soy Milk & Cream Overall Table 10: Indonesia Soy Products Market Value (USD m) by Category, 2012 17 Category 2012 2013 2014 2015 2016 2017 CAGR 2012 17 Soy Desserts Soy Drinks Soy Milk & Cream Overall 17

Figure 2: Indonesia Soy Products Market Value (LCU m) by Category, 2007 17 18

2.1.3 Market Growth Dynamics by Value Soy Products, 2007 17 Table 11: Indonesia Soy Products Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Category, by Value (LCU m) Category CAGR 2012 17 CAGR 2007 12 Soy Desserts Soy Drinks Soy Milk & Cream Overall Market Size 2007 Market Size 2012 Market Size 2017 Figure 3: Indonesia Soy Products Market Dynamics, by Category, by Market Value, 2007 17 19

2.2 Soy Products Volume Analysis, 2007 17 2.2.1 Overall Soy Products Market Volume, 2007 17 Table 12: Indonesia Soy Products Market Volume (Kg m) and Growth (Y-o-Y), 2007 17 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Market Volume Y-o-Y growth Figure 4: Indonesia Soy Products Market Volume (Kg m) and Growth (Y-o-Y), 2007 17 20

2.2.2 Per-Capita Consumption - Soy Products, 2007 17 Table 13: Indonesia Per-capita Soy Products Consumption (Kg/head & Y-o-Y growth), 2007 17 Per-Capita Consumption Y-o-Y growth 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Figure 5: Indonesia Per-Capita Soy Products Consumption (Kg/head & Y-o-Y growth), 2007 17 21

2.2.3 Soy Products Market Volume by Category, 2007 17 Table 14: Indonesia Soy Products Market Volume (Kg m) by Category, 2007 12 Category 2007 2008 2009 2010 2011 2012 CAGR 2007 12 Soy Desserts Soy Drinks Soy Milk & Cream Overall Table 15: Indonesia Soy Products Market Volume (Kg m) by Category, 2012 17 Category 2012 2013 2014 2015 2016 2017 CAGR 2012 17 Soy Desserts Soy Drinks Soy Milk & Cream Overall 22

Figure 6: Indonesia Soy Products Market Volume (Kg m) by Category, 2007 17 23

2.2.4 Market Growth Dynamics by Volume Soy Products, 2007 17 Table 16: Indonesia Soy Products Market Dynamics: past and future growth rates (2007 12 & 2012 17) and market size (2007, 2012 & 2017), by Category, by volume (Kg m) Category CAGR 2012 17 CAGR 2007 12 Soy Desserts Soy Drinks Soy Milk & Cream Overall Market Size 2007 Market Size 2012 Market Size 2017 Figure 7: Indonesia Soy Products Market Dynamics, by Category, by Market Volume 2007 17 24