It is estimated that the creation of whey protein globally was 240 million metric tons in the year 2014 and is likely to rise at 3.5% yearly. It is estimated that the global whey protein market will reach USD 9 billion by the year 2022. This is estimated at a CAGR of 7.6% and the estimate period is 2017 to the year 2022.
The market has driven the progress owing to a few factors. The cost of manufacturing of Whey Protein is very high. There are also stringent regulatory concerns and safety and health concerns that are hampering the marketing of whey protein.
The market growth of whey protein is due to the rising demand for dairy-based foodstuffs in the market. There is also a rising demand for pediatric food, and due to the rise in the health and the wellness industry, there is an upsurge in demand for whey protein. Protein consumption is vital for the body, and this has increased the demand for this product by great amounts. With the rise in technology, there is rising demand for ready to drink protein shakes and products that boost performance.
Whey protein is the by-product when cheese is manufactured. It is the part of milk that is watery that gets separated from curd. The whey protein contains the 20 vital amino acids and is considered an essential food that is required for the human body functions.
However, with the rising demand for processed food, infant food, and dairy created items there is a possibility of whey protein finding its usage in the personal care segment of the sports nutrition section.
Whey protein has versatile uses and finds usage in infant products, snacks, confectionaries and dairy products. Sack and wine are the major ingredients in the process of production of whey protein. This is predicted to be the segment that will grow the fastest in the future 5 years. Around 45% of the international Whey Protein Market has been unified in the diet supplement section.
The three whey protein forms include the concentrate of whey protein, hydrolyzed whey protein, and whey protein isolate. The concentrate of whey protein has high lactose content and is low in protein, and it comprises 25% of the share of the market. The whey protein is used to produce protein drinks and nutritional supplements. The hydrolyzed whey protein is rich in protein and has around 60% of the market share today and is utilized in medical and sports nutritional products.
The companies have a very competitive market and being the main players in the international whey protein industry they have a product portfolio that is based on extensive research and development. They have strategic initiatives and high commitment to fulfill the demands of the customers. This helps them maintain their market stability.
The whey protein market dominates North America with 35% of the market share. The United States of America is the major market here. Asia Pacific is also a rapidly growing market. This is due to the health concerns in this area along with the disposable income. The Asia Pacific market accounted for 18.9% of the international whey protein market. The whey protein market in Europe is moving ahead because of the growing awareness rising these days along with the demand for food and beverages.
Whey protein offers many benefits like increase in protein synthesis of the muscles and muscle growth. It also supports nutrition. Whey protein is replacing milk in various products, and this also includes food for infants and nutritional beverages.
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