The global Whey Protein market size is expected to be worth around US$ 18.5 billion by 2028, according to a new report by Vision Research Reports.
The global Whey Protein market size was valued at US$ 8.8 billion in 2020 and is anticipated to grow at a CAGR of 9.9% during forecast period 2021 to 2028.
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The demand for whey protein is projected to be driven by growing innovation in terms of manufacturing proteins that contain a broad range of amino acids and perform specific functions including weight loss, energy balance, satiety, and muscle repair by various manufacturers in the industry.
The Whey Protein Concentrate (WPC) segment is projected to exhibit steady growth owing to their superior characteristics, including a high rate of absorption by muscles and tissues as well as the ability to assist in fat loss, promote lean muscle growth, ensure a healthy metabolism, and provide cardiovascular support in comparison with the other protein ingredients.
In addition, the rising adoption of nutraceuticals as a result of growing health awareness among consumers is expected to fuel the demand for Whey Protein Isolate (WPI) as a functional ingredient. WPI-based nutritional and food supplements are known to boost and maintain the energy levels in the human body.
Growing consumer interest in weight management, especially in working professionals, owing to the increasing concerns regarding obesity, is expected to amplify market growth over the next few years. The rising consumer inclination toward slimming food products and supplements, especially sports enthusiasts, is projected to further augment the demand.
The Whey Protein Concentrate (WPC) segment led the market and accounted for more than 48.04% share of the global revenue in 2020. WPCs are a group of whey proteins that remain soluble in whey after the precipitation of casein at pH 4.6 and temperature 20°C. These concentrates are a heterogeneous grouping of various dissimilar proteins and contain minerals, lipids, and lactose.
WPCs are used in numerous applications including in the manufacturing of dairy desserts, beverages, and yogurt products. Furthermore, these concentrates are employed as a source of protein fortification for infant food and nutritional products. WPC exhibits gelling property when dissolved in water and heated. This property is extremely beneficial for nutritional and meat industry applications.
Whey Protein Hydrolysate (WPH) exhibits prebiotic, antimicrobial, antioxidant, and hypertensive properties. They are used to manufacture infant nutrition, clinical nutrition, and sports nutrition products. However, hydrolyzed whey proteins are more expensive as compared to their counterparts; hence, a majority of the whey supplement manufacturers add a very small quantity of the same to their respective formulas.
The food and beverage application segment led the whey protein market and accounted for more than 48.03% share of the global revenue in 2020. The product is preferred for bakery and confectionery products due to its ability to emulsify, brown, foam, and thicken products. These ingredients also increase the solubility, nutritional fortification, gelation, and water-binding properties of bakery and confectionery products.
In the personal care and cosmetic industry, it is utilized to produce various products such as hair conditioners, wave sets, hair dyes and colors, shampoos, eye care, and face and body moisturizing products. Therefore, the demand for whey protein in the application is likely to witness significant growth on account of its various characteristics including skin-hydrating, skin-conditioning, and hair conditioning properties.
Shifting consumer preference for herbal and natural ingredient-based premium personal care products is anticipated to accelerate the demand for the product in the personal care and cosmetics application. Moreover, the increasing demand for moisturizers and creams owing to the growing consumer awareness and high disposable income in economies such as the U.S., Canada, France, and China is expected to augment the industry growth.
North America dominated the market and accounted for over 39.03% share of global revenue in 2020. The region has a vast population facing increased obesity levels and lifestyle-related diseases on account of their dietary habits, high disposable income, and availability of several processed and ready-to-eat foods, which are not necessarily good for consumer health. The ‘transitioning face’ of food has evolved into and supplements, which can provide numerous health benefits beyond basic nutrition.
North America is projected to witness steady growth on account of the increasing use of food supplements with reduced calorie levels and high nutritional content. Furthermore, increasing awareness about the consumption of supplement products in Mexico and Canada on account of new product launches is expected to promote the application scope of whey protein ingredients in the region over the forecast period.
In Asia Pacific, the market was valued at USD 1.6 billion in 2020 and is anticipated to witness the fastest growth over the forecast period on account of growing exports and domestic demand for dairy-based protein ingredients such as whey and casein. China is one of the largest producers of dairy-based proteins owing to the easy availability of raw materials.
In addition, a rise in health awareness among people, coupled with an increasing number of fitness clubs in India, is predicted to drive the market of the product over the next few years. The remarkable growth of the food and beverage industry in India and the increase in purchasing power parity of consumers are expected to boost the demand for healthy and functional foods rich in protein content. Augmented demand for nutritional food and beverages among Indian customers is projected to positively impact the market over the forecast period.
- Hilmar Cheese Company, Inc.
- Saputo Inc.
- Glanbia plc
- Fonterra Co-operative Group Ltd
- Arla Foods
- Wheyco GmbH
- Milk Specialties
- Carbery Group
- LACTALIS Ingredients
- Olam International
- Davisco Foods International, Inc.
- Milkaut SA
- Leprino Foods Company
- Maple Island Inc.
- Type Outlook
- Whey Protein Isolates
- Whey Protein Concentrates
- Whey Protein Concentrate 35
- Whey Protein Concentrate 50
- Whey Protein Concentrate 60-80
- Whey Protein Hydrolysates
- Application Outlook
- Nutritional Supplements
- Personal Care
- Food & Beverages
- Animal Feed & Pet Food
- Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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