According to a market report, published by Sheer Analytics and Insights, the total whey protein market was valued at $36.1 billion in 2021 and it is expected to reach $89.98 billion at a CAGR of 8.40% between 2022 and 2032.Whey protein is typically a form of powder that can be added to liquids such as plain water, milk, or soft foods to make a smoothie. This is a type of nutritional drink that can be consumed by people who want to improve their athletic performance by increasing muscle mass and strength. Whey protein can be taken for specific conditions and activities such as exercise training, malnutrition, wound healing, and allergies. These factors are driving the growth of the whey protein market across the globe. Moreover, whey protein has several benefits such as it can help build muscle and strength, lose weight, reduce appetite, and increase metabolism. People with lactose-intolerant can consume whey protein because it works as an alternative to milk products. Demand for whey protein as a functional food and dietary supplement among health-conscious people or consumers is rising. Consumers aged from 20s to 30s, who are actively participating in physical sports and regular workout routines, give more importance to whey proteins. Therefore, these rising factors generally boost the demand for nutritional drinks and supplements.
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Whey protein is widely used in meat products for its solubility. Furthermore, it can be used for adhering breadcrumbs or batter to meat, which also fuels the growth of the whey protein market across the globe. Additionally, the consumption of whey proteins as supplements has increased in demand due to the recommendations by doctors and dieticians for the benefit of their wider customers. Moreover, the sports nutrition segment held the one-sixth share over the last couple of years. Even whey proteins are widely used in response to the perennial modifications such as bringing, baking, and it is also used in bakery and beverage industries, which are expected to witness a high demand for whey proteins in the global market. These major factors are estimated to drive the growth of the market during the forecast period.
Several countries such as India, China, U.S, U.K, and Germany, have seen an expansion of the whey proteins market growth due to the rising prevalence of sports activities and exercises among young generations aged between twenty and thirty years. Along with this, diseases battling capacities, stress decrease, and diet backing are helping to develop the whey protein market across the globe. In the Asia-Pacific region, India is one of the fastest-growing markets across the region. Additionally, the food sectors in the country have increased threefold in the last decade and are expected to witness a similar trend over the forecast period from 2022 to 2032. However, whey protein is absolutely safe when it is consumed properly. High consumption of whey protein can cause several side effects such as increased acne, bowel movements, thirst, nausea, reduced appetite, increased stress and fatigue, and headache, among others. Therefore, these can hinder the market growth for various nations due to heavy consumption.
According to the study, key players dominating the whey protein market are Arla Foods Dairy Company (Denmark), Hilmar Cheese Company (U.S), Amul Company (India), Cargill Corporation (U.S), Carbery Food Ingredients Ltd. Company (Ireland), Dairy Farmers of America (U.S), Davisco Foods International Company (U.S), Milk Specialties Company (U.S), Saputo Fluid Milk Company (Canada), DMK Deutsches Milchkontor GmBH (Germany), Lactalis Corporation (France), Carbery Group Limited Company (Ireland), Savencia Fromage and Dairy (France), Glanbia Public Limited Company (Ireland), Fonterra Dairying Company (New Zealand), Morinaga Milk Industry Company (Japan), FrieslandCampina Food Company (Netherlands), Hilmar Cheese Company (U.S), Carbery Group Limited (Ireland), United Quality Foods (Spain), Estrel Ingredients (Spain), among others.
The Global Whey Protein Market Has Been Segmented Into:
The Global Whey Protein Market – By Product Type:
The Global Whey Protein Market – By Application Type:
The Global Whey Protein Market – By Distribution Channel Type:
The Global Whey Protein Market – By Regions:
North America
Europe
Asia-Pacific
LAMEA
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