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The Whey Protein Market size is projected to increase by USD 5.01 billion, growing at a CAGR of 7.88% between 2022 and 2027. The whey protein market is experiencing growth driven by several factors. There's an uptick in product launches, likely spurred by the rising awareness of whey's health benefits. Its wide application across various industries, from food to pharmaceuticals, also contributes to market expansion. Additionally, the sports nutrition sector's growth and the increasing trend toward healthy lifestyles further boost the demand for whey protein products. This trend is expected to continue as consumers seek convenient and effective ways to meet their nutritional needs. Furthermore, the increasing focus on fitness and wellness globally is propelling the demand for protein-rich diets, where whey protein plays a significant role. The pharmaceutical and nutraceutical sectors are also driving growth as they incorporate whey protein into various products for its health benefits.
The market is growing due to increased product launches by vendors. Recent launches include Arla Foods Ingredients' Lacprodan BLG-100, a pure BLG ingredient with a unique nutritional profile. Keventers partnered with Myprotein to create a distinctive whey protein in Keventers Coffee Flavor. This is supported by protein supplements, food industry, baked goods, dairy products, beverages, cereals, chocolates, baby foods, food and beverage manufacturers, functional whey protein, packaged foods, whey protein concentrate (WPC), and revenue share. Arla Foods also launched a whey protein ingredient specifically for ready-to-drink sports beverages. These launches drive market growth.
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This market report extensively covers market segmentation by Product (whey protein concentrates, whey protein hydrolysates, and whey protein isolates), Application (food and beverages, nutritional supplements, personal care, and animal feed and pet food), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth by the whey protein concentrate segment will be significant during the forecast period. Whey protein concentrate is the least processed and inexpensive form of whey protein. It is widely used in confectionery products, cereal and nutrition bars, processed cheese, baked goods, sports beverages, and muscle gain formulations.
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The whey protein concentrate segment was valued at USD 4.00 billion in 2017. Whey protein concentrate is also used as a sports supplement and is known to speed up recovery from illness. The absorption rate of this concentrate is lower than that of isolates and hydrolyzed whey proteins. Therefore, the recovery time of whey protein is longer than that of other protein products. The increasing adoption of nutritional supplements and the growing emphasis on inculcating healthy eating habits will increase the demand for these products during the forecast period. In addition, vendors are investing in increasing their production capabilities to meet the rising demand for whey protein concentrates from consumers. The increase in the number of launches of new products containing whey protein concentrates and growing investments by vendors operating in the market will support the growth of the segment during the forecast period.
Whey protein is a popular macronutrient used in various food and beverages, including functional drinks and protein bars, to enhance their nutritional value. Its functional properties, such as gelling, heat setting, solubility, thermal stability, foaming, whipping, and aeration, make it a valuable ingredient for improving the texture, flavor, and yield of food. Whey protein is used in a variety of food products, such as yogurts, beverages, pasta, energy bars, and bakery products, to improve their quality. Additionally, whey protein concentrate with 35% protein is commonly used as a stabilizer and fat mimetic in various foods, including confections and dietetic foods. As vendors innovate to incorporate whey protein into food and beverage products, the market is expected to grow during the forecast period.
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North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America has the largest market share of the global market. The market in North America is expected to grow at a moderate rate, owing to increasing product launches, raising awareness about the health benefits of organic whey protein in food and beverages and nutraceuticals, and the growing supply of raw materials. Furthermore, the considerable presence of numerous cheese producers in North America largely contributes to the growth of the market. Whey is obtained as a byproduct of the cheese production process. Owing to easy access to raw materials, new players can easily enter the market with moderate capital, thus intensifying the competition in the market.
Positive trends are expected to propel market growth despite these challenges. Factors such as innovation in packaging, the use of organic whey protein in infant formulas, and the increasing use of e-commerce channels to target and acquire new customers are raising awareness about the benefits of whey protein in North America.
The market is witnessing significant growth driven by increasing awareness about healthy lifestyles and the rising popularity of fitness and sports clubs. The market is fueled by the demand for protein supplements in various industries, including the food industry, where whey protein is used in products such as dairy products, cereals, chocolates, and baby foods. Whey protein is known for its antihypertensive and antibacterial properties, making it beneficial for various health conditions such as weight loss, protein-calorie malnutrition, and muscle loss, particularly in cancer patients. It also aids in digestion and is used in personal care products like skincare and hair care. The market is driven by the demand for functional whey protein variants like Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI), and Whey Protein Hydrolysate (WPH), which offer a high revenue share and are rich in lipids, lactose, and minerals. Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Increasing use of whey protein in clinical nutrition is a key trend in the market. The global market may grow due to increased use in clinical nutrition, as it contains rich nutrients that help treat common conditions and expedite post-illness recovery. The ageing US population faces physical changes, and a high-protein diet is essential to combat sarcopenia. Whey protein's high leucine content aids in muscle synthesis and recovery for postoperative patients, while boosting glutathione production. The increased use of whey protein in clinical nutrition is expected to drive the market's growth.
The increasing popularity of plant-based proteins is a major factor hindering the market growth. The global shift to plant-based diets is driven by health and food safety concerns regarding animal-based food products. Vegans avoid animal-based products, which is expected to increase demand for plant-based diets. These diets offer numerous benefits, such as more antioxidants and beneficial plant compounds, which help reduce the risk of cardiovascular diseases and other metabolic disorders. As a result, the demand for plant-based proteins like pea and chickpea protein is increasing.
To meet this demand, vendors are introducing new plant-based protein products, such as Smithfield Foods' Pure Farmland and NutraBio's plant protein. The increasing popularity of plant-based proteins could negatively affect the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories - The company?offers whey protein products.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Whey Protein Ingredients Market- The whey protein ingredients market size has the potential to grow by USD 3.33 billion during 2020-2024.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is experiencing robust growth due to its various health benefits, including antihypertensive, antimicrobial, and antioxidant properties. It is widely used in the beauty and personal care industry for skincare products, hair care products, and other cosmetic applications. The market is driven by the rising demand from working women and urban consumers who are increasingly aware of the importance of healthy living and preventive health care. Whey protein is a heterogeneous mixture rich in proteins, vitamins, fats, and carbohydrates, making it ideal for sports nutrition and weight management products. It is also used in the food and beverage sector for protein fortification in products like yogurt, energy drinks, and meat-based food applications. The market is witnessing a surge in demand for clean-label food and cosmetics products, particularly among the vegan population, driving the need for plant proteins like soy, wheat, rice, algae, and hemp.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.88% |
Market growth 2023-2027 |
USD 5.01 billion |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
6.96 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 50% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Agropur Dairy Cooperative, AMCO Proteins, Arla Foods amba, Carbery Food Ingredients Ltd., Dairy Farmers of America Inc., Danone SA, DMK Deutsches Milchkontor GmbH, Fonterra Cooperative Group Ltd., Glanbia Plc, Hilmar Cheese Co. Inc., Inner Mongolia Yili Industrial, Kaserei Champignon Hofmeister, LACTALIS Ingredients, Leprino Foods Co., Milk Specialties Global, Nagase and Co. Ltd., Nestle SA, Saputo Inc., and Zoic Pharmaceuticals Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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