Whey Protein Market

GMI Research analysis indicates that the Whey Protein Market size was estimated at USD 11.5 billion in 2022 and is slated to register a single digit CAGR of 9.5% over the forecast period, and is projected to reach USD 23.8 billion in 2030

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Whey Protein Market Key Drivers

The major factors driving growth of the Whey Protein Market includes increasing number of fitness and sports club, surging demand for immunity boosting products, rising incidences of diabetes and obesity around the world and improvements in the living standards. As per the National Library of Medicine (NLM) nearly 462 million individuals suffered from type 2 diabetes in 2017, which exhibits a total of 6.28% of the world’s population and the incidences of type 2 diabetes is expected to reach 7079 individuals per 100,000 by 2030, which will push the demand for whey protein in coming years. Growing use of whey protein in health, sports, and functional foods and increasing purchasing power of the consumers have proliferate the market growth.

Moreover, the growing consumption of whey protein as it helps in reducing body weight, decreasing inflammation, helps in overcoming bowel diseases, improves body’s antioxidant defenses, and reduces blood pressure, and promotes muscle growth, will expand the market growth. In addition, the increasing investments by leading players on research and development, growing adoption of advanced technologies by manufacturers and rise in the launch of new products, are further propelling the Whey Protein Market size. Besides, the surging demand for higher nutritional products has encouraged leading players to introduce high-purity whey products across the globe. For instance, FrieslandCampina Ingredients Active Nutrition, a Dutch dairy protein company, introduced a Nutri Whey Isolate, a pure, and nutritionally balanced protein, to be used in protein water applications.  However, growth of the Whey Protein Market is hindered due to rising popularity of plant-based protein supplements.

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Type Segment Analysis

Whey Protein Concentrate (WPC) is projected to lead the market over the forecast period, due to their growing application which include the production of beverages, dairy desserts, and yogurts. WPC is a cost-effective alternative to blend caramel with superior flavor and processability. The use of WPC in meat and nutritional sectors due to their gelling property if it is heated and dissolved in water will add to the segment’s growth.

Whey Protein Isolate (WPI) is estimated to hold a higher share over the forecast period, due to the increasing inclination of consumers to add protein in regular diets and growing demand for low-fat and Consumer preferences for incorporating proteins in regular foods, as well as rising demand for high-protein weight management products, has stimulated the segment’s size.

Application Segment Analysis

Food and Beverage Sector is predicted to lead the market over the forecast period, due to the growing use in several applications. Increasing application of whey protein into various food & beverage applications which include bakery, dairy, energy drinks, and confectionery products, owing to their health benefits and exceptional properties, including their ability to act as a flavor enhancer, stabilizing agent, and emulsifying salt in the food & beverage sector is projected to strengthen the market growth.

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Regional Analysis

North America is expected to emerge as the fastest growing nation during the forecast period, due to strong presence of the leading players like Agropur Inc., and Hilmar Cheese Company, increasing incidences of diabetes and obesity across United States, surging number of gyms and fitness clubs, rapid urbanization, and high per capita incomes.

European whey protein market is predicted to hold a higher share over the forthcoming years, primarily because of the increasing focus on healthy living, emerging trend of preventive health care, and surging demand for protein supplements from the U.K., Germany, and France. Factors including the growing use protein in synthetic and naturally derived personal care products, rising number of food processing industries will strengthen the regional growth,

Top Market Players

Various notable players operating in the market, include Hilmar Cheese Company, Glanbia, Fonterra Group, Arla Foods, Kerry, Lactalis Ingredients, Agropur Inc., Carbery, Milk Specialties Global, DMK Group, among others.

KEY INDUSTRY DEVELOPMENTS:

• • In 2021: Arla Foods launched a five-year strategy to cement its commitment to produce environmentally sustainable dairy production and expand the business responsibly. One strategy is investing in its global specialized, high-quality milk, and whey ingredients business.
  • In 2021: Saputo Inc. entered into a strategic acquisition in the dairy alternatives and value-added ingredients segments, exhibiting a total investment of about USD 146.94 million. Moreover, the Reedsburg facility of Wisconsin Specialty Protein, LLC was acquired by Saputo Inc. This production facility is located in Wisconsin, U.S. It produces value-added ingredients such as organic lactose, goat whey, and other dairy powders.

Segments covered in the Report:

The global whey protein market has been segmented on the basis of product type, application, end users, and key geographies. Based on product type, the market is segmented into whey protein concentrate, whey protein isolate, and whey protein hydrolysate. Based on application, the market is segmented into food & beverages, nutritional products, healthcare, and others. Based on end users, the market is segmented into online stores, supermarkets, specialized stores, and others.

The research report “Global Whey Protein Market” provides an in-depth analysis of global whey protein market based on product type, flavor, end user and major geographies for the forecast period from 2019 to 2026. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for global whey protein market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.

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Market Segmentation

Global Whey Protein Market By Product Type

• • Whey Protein Concentrate
  • Whey Protein Isolate
  • Whey Protein Hydrolysate

Global Whey Protein Market By Application

• • Food & Beverages
  • Nutritional Products
  • Healthcare
  • Others

Global Whey Protein Market By End User

• • Online Stores
  • Supermarkets
  • Specialized Stores
  • Others

Global Whey Protein Market by Region

• • North America Whey Protein Market (Option 1: As a part of the free 25% customization)

    • By Product Type
    • By By Application
    • By By End User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Global Whey Protein Market (Option 2: As a part of the free 25% customization)

    • By Product Type
    • By By Application
    • By By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Global Whey Protein Market (Option 3: As a part of the free 25% customization)

    • By Product Type
    • By By Application
    • By By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Global Whey Protein Market (Option 4: As a part of the free 25% customization)

    • By Product Type
    • By By Application
    • By By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Whey Protein Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Hilmar Cheese Company
  • Glanbia
  • Fonterra Group
  • Arla Foods
  • Kerry
  • Lactalis Ingredients
  • Agropur Inc.
  • Carbery
  • Milk Specialties Global
  • DMK Group