The global market for whey proteins should grow from $5.9 billion in 2018 to $11.3 billion by 2025 with a compound annual growth rate (CAGR) of 9.6% for the period of 2018-2025.
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The scope of this report is broad and covers application of whey protein. The market has been segmented by product type into food and beverages, infant formulation, personal care and cosmetics and others. Revenue forecasts from 2017 to 2023 are given for each of the segments and regional markets with estimated values derived from the manufacturers’ total revenues.
The report also includes a discussion of the major players across each region in the whey protein market. Further, it explains the major drivers, innovations and advancements, along with regional dynamics of the global whey protein market and current trends within the industry.
The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in the market.
– 87 data tables and 22 additional tables
– A brief general outlook of current and emerging applications of whey protein
– Analyses of the global market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2025
– Detailed regional trade analysis, and import and export of whey protein ingredients in value and volumetric terms
– Identification of shifts in the market and the competitive landscape among key market players, their recent developments, major M&A deals and strategic alliances
– Examination of drivers, restraints, challenges, and opportunities that would impact this industry
– Comprehensive profiles of major participatory companies within the market, including Agropur Dairy Cooperative, Amul, Hilmar Cheese Co., Milk Specialties Global, Fonterra Cooperative Group and Carbery
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The whey protein market has been witnessing significant growth owing to the increased awareness regarding the benefits of whey in functional food. Whey has numerous advantages in the forms of increasing body strength, reducing cell stress, inducing weight loss and helping the body cope with allergens. These qualities have resulted in whey being a preferred choice product for people interested in maintaining physical fitness.
The other major use of whey protein is in the fortification of infant formulas. These has increased acceptance towards the use of WPI (whey protein isolate) and WPC (whey protein concentrate) in infant food as they result in a product which is closest to natural human milk. According to research by Arla Foods, REDACTED% of mothers in China (the largest market for infant formula) said they would prefer a formula containing whey protein. In other developed countries, the same survey suggested at REDACTED% of mothers would prefer whey-fortified baby food as the food of choice. This clearly highlights the growing importance of whey protein in infant formula and would be a major growth driver for the future.
Whey protein concentrates (WPC) were the largest consumed whey protein product, as they are the least expensive among all whey products and have comparable properties to other whey products. There are numerous advantages to use of WPC apart from just being a protein supplement for people trying to gain muscle. They are a great way to reduce weight, as a consistent intake of WPC results in stable sugar levels and low cell stress, which help weight loss. The growing obesity concern globally is expected to provide a positive impetus to market growth. As of 2019, over REDACTED% of the global adult population was obese, and there is an increasing focus on controlling weight loss. WPC is a highly
recommended product to stimulate weight loss which will result in increased demand over the forecast period.
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The food and beverage industry was the largest user of whey protein, as these ingredients are increasingly used in functional food. The primary use of whey protein in the food and beverage industry is in the form of sports supplements and functional food. WPI and WPC are extensively added in sports and cereal bars and are marketed as a complete breakfast. Since they keep you full for longer, they are an excellent option for weight loss and are increasingly being promoted as health food products. The other major use of whey protein is in the form of sports drinks. Whey protein is extensively used in RTD (ready to drink) form containing whey mixed with milk and other nutrients. A large number of gymgoers
are pressed for time and prefer to work out as part of their daily routine before heading out for their workday. These RTD protein shakes make for an excellent post-workout meal and are being marketed as such.