The Whey Protein Market is expected to grow at a steady rate of around 9 % during the forecast period (2022-2028F) owing to the increasing number of fitness centers recommending protein supplements. Major companies in the market offers whey protein for sports and nutrition applications with advanced features. For instance, In April 2021, Carbery has launched Optipep 4Power, which is a hydrolyzed whey protein (WPH) designed mainly for high-intensity interval training (HIIT). The company targets fitness enthusiasts and athletes by offering products that serve the purpose of bodybuilding.
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A Whey is basically the liquid remaining after milk has been strained and curdled. In recent years, the demand mainly increases due to the increasing use of whey protein in sports nutrition and weight management products including bars, powders, and beverages, and an increasing number of fitness centers recommending protein supplements are expected to drive sales throughout the projected period. For instance, In September 2022, with the introduction of a range of new products in India, the health supplement brand Dyet Nutrition announced the extension of its product line. Dyed Nutrition introduced whey protein concentrates in chocolate and vanilla flavors, supported by a robust R&D process.
According to UnivDatos Market Insights (UMI)’ research report “Global Whey Protein Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the increasing number of fitness centers recommending protein supplements.
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Based on type, the market is segmented into Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI) and Whey Protein Hydrolysate (WPH). Whey Protein Concentrate (WPC) market category to witness higher CAGR during the forecast period owing to the Consumer preferences for incorporating proteins in regular foods, as well as rising demand for high-protein and low-fat weight management products. For instance, with the introduction of a range of new products in India, the health supplement brand Dyet Nutrition announced the extension of its product line.
Based on application, the whey protein market is segmented into sports and performance nutrition, infant formula, and food & beverages. The food and beverage application segment dominated the whey protein market. This is due to rising use of whey protein in bakery, confectionery, dairy and other food products as it helps to emulsify and thicken items. For instance, due to the rising use of whey protein in food and beverages sector, Havero Hoogwegt B.V. a leading manufacturer of whey protein partnered with First Milk in order to expand its products more towards the food and beverages sector and to increase its whey operations in Europe.
North America to witness extensive growth
For a better understanding of the market adoption of the Whey Protein Market industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is due to the increasing awareness of healthy lifestyles and high disposable income levels among the people in the region. The region has a large population with a high rate of obesity and lifestyle-related diseases due to the unhealthy lifestyle, high disposable income, and accessibility to several processed and ready-to-eat items that are not particularly beneficial for consumer well-being. All these factors have led to a boost in demand for whey protein in the region. For instance, according to the World health organization (WHO), around 39 million children under the age of 5 were overweight or obese in 2020.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Whey Protein Market market are Hilmar Cheese Company, Inc., Saputo Inc., Glanbia plc, Fonterra Co-operative Group Ltd., Arla Foods amba, Alpavit, Wheyco GmbH, Carbery Group, Sanofi S.A, Maple island inc, MilKaut SA.
“Global Whey Protein Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Type (Whey Protein Concentrate, Whey Protein Isolate and Hydrolyzed Whey Protein)
2. By Application (Sports and Performance Nutrition, Infant Formula, Food and Beverages)
3. By Region (North America, Europe, Asia-Pacific, Rest of the World)
4. By Company (Hilmar Cheese Company, Inc., Saputo Inc., Glanbia plc, Fonterra Co-operative Group Ltd., Arla Foods amba, Alpavit, Wheyco GmbH, Carbery Group, Sanofi S.A, Maple island inc, MilKaut SA.)
Key questions answered in the study:
1. What are the current and future trends of the global whey protein market industry?
2. How the industry has been evolving in terms of product type and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global whey protein market industry?
5. What is the customer orientation, purchase behavior, and expectations from the global whey protein market suppliers across various region and countries?