Whey Protein Market Overview:
Whey Protein is widely used in industries like healthcare, personal care, food, nutritional, feed, and pharmaceutical industry. Growing popularity of Whey Protein is due to its advantages like stress reduction, diet support, improvement of the immune system, cancer-fighting capacity and mass gain and fat loss.
Whey protein provides various anabolic benefits such as increased muscle growth and muscle protein synthesis which supports the sports nutrition sector. Whey protein is efficiently and effectively replacing milk in various food products including infant nutritional food, weight-management supplements, and nutritional beverages.
Whey Protein Market Size:
According to Market Data Forecast, The Whey Protein Market was worth $8.95 billion in 2018 and estimated to be growing at a CAGR of 7.1%, to reach $12.61 billion by 2023.
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The market for whey protein is mainly driven by its widespread application in various product sectors such as functional foods, bakery, confectionery, dairy, ice cream and other sectors. Other factors driving the market are rising disposable incomes, increasing health-conscious consumers and number of health clubs and fitness centers. High manufacturing cost associated with whey protein is restraining the market growth.
The Global Whey Protein market is segmented based on type into Whey protein concentrate (WPC), Whey protein isolate and Whey protein hydrolysate. WPC, which is high in lactose and low in protein, leads the market with the highest number of shares. It is mainly used in the production of nutritional supplements and protein beverages. Based on application, the market is segmented into Dairy, Bakery, Dietary supplements, Confectionery, Pharmaceuticals and Instant formula. Dietary supplements sector is the largest segment and expected to remain the same in the forecast period.
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Based on geography the market is analyzed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America has the largest market share for whey protein products, which is closely followed by Europe. Asia-Pacific is the fast-growing whey protein ingredients market due to the increasing number of health-conscious consumers and rising disposable income.
Market Key Players:
- Agropur MSI
- DMK Group
- Arla Foods
- Hilmar Cheese Company
- American Dairy Products Institute
- Davisco Foods International
- Milk Specialties Global
- Maple Island
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Key Takeaways from this Report:
- For different product types, end-use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the global marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
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