The global whey protein market is expected to total US$ 9.4 Bn in 2022, finds Future Market Insights (FMI) in a recent analysis. Increasing demand for sports nutrition products will drive the market at a robust 9.8% CAGR, with the market size reaching US$ 18.4 Bn in 2032.
Rising awareness regarding balanced diets, and increasing consumption of protein for mass gain, strength gain, and weight loss across the globe is expected to continue spurring demand for whey protein.
Furthermore, rising prevalence of chronic disease due to changing lifestyles, particularly among the millennial population is fueling the adoption of whey protein in nutrition and pharmaceutical products.
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In addition to this, increasing demand for sports nutritional supplements and rising health consciousness are expected to boost the market in the forthcoming years.
“Whey protein has a longer shelf life than other dairy products, allowing it to last for weeks while preserving its characteristic state, thereby driving its applications in bakery and packaged food products. In addition to this, surging adoption of whey protein in infant food will continue augmenting the growth in the market over the forecast period,” says the FMI analyst.
Key Takeaways:
Based on product type, demand in the whey protein isolated segment is forecast to remain high over the assessment period.
Applications in the nutrition and pharmaceuticals segment will continue gaining traction through 2032.
Europe and North America are the top two regions holding more than 60% of the total market share.
India, Mexico, and the U.K. will emerge as lucrative pockets in the whey protein market over the forecast period.
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Competitive Landscape
The global whey protein market is moderately fragmented attributed to the prevalence of numerous large and small manufacturers competing on price and quality. Some recent developments include:
In June 2020, Arla Foods launched Lacprodan Hydro, a new whey protein ingredient for healthy ageing that has been clinically proven to slow age-related muscle mass decline.
In October 2020, Carbery will release Optipep 4Power, a fresh hydrolyzed whey protein. It is specifically designed for high-intensity duration workouts.
Whey Protein Market Industry Analysis By Category
Product Type:
Whey Protein Hydrolysates
Whey Protein Isolates
Whey Protein Concentrates
Whey Protein Concentrate 35
Whey Protein Concentrate 50
Whey Protein Concentrate 60-80
Application:
Food and Beverages
Nutrition Products and Pharmaceuticals
Feed Applications
Others
Region:
Eastern Europe
European Union
Latin America
North America
Oceania
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Key Questions Answered in the Report
How much is the Whey Protein Market current worth?
At what rate will the whey protein market expand?
At what rate did the whey protein market grow between 2017 and 2021?
Which are the countries driving demand for whey protein?
Who are the leading players in the whey protein market?
What is the Europe Whey Protein Market Outlook?
At what rate will the U.S. Whey Protein Market grow?
Information Source: https://www.futuremarketinsights.com/reports/whey-protein-market