Market Trends of europe whey protein ingredients Industry
The expanding consumer base may benefit the sports supplements market
- The European sports nutrition market grew by 15% during 2016-2019. However, in 2020, it witnessed a steep decline of 4.33% in the Y-o-Y growth rate. Health clubs, being one of the common sales channels for supplements, impacted the sales of sports supplements adversely as the pandemic took a harsh toll on fitness club operators, employees, and consumers. In 2020, due to government regulations, fitness clubs, health clubs, and gyms were forced to close, and club memberships declined by 10-15% in 2020 compared to the previous year. The number of clubs also decreased under the influence of the pandemic. To regain the market in the second half of 2020, the general VAT rate of 19%, which also applies to fitness services, was reduced to 16% for a limited period until the end of the year to strengthen economic demand.
- The growing number of fitness enthusiasts expands the scope of sports supplements beyond their mainstream users. As consumers flock to buy gym requisites, the demand for health and fitness products is growing, especially in developed countries like Italy, France, and Germany. These countries also emerged as the major spenders on gym memberships, supplements, training, etc. There are around 63,000 fitness centers in the region, and all these clubs jointly witnessed an increase of 3-4% in memberships yearly.
- The demand for sports nutrition products with natural ingredients supports market growth by providing an opportunity for manufacturers to add value to their products. More than 70% of the European sports nutrition market is dominated by the United Kingdom, Germany, Spain, and France. Over 50% of the market share is captured by the United Kingdom and Germany in the sports drinks segment.
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Increasing dry whey production to stabilize whey protein prices during forecast period
- Europe is a major country in the production of cheese and the largest producer of whey worldwide. 6 million tons of whey was processed in Europe from the production of cheese and caseinates in 2015. Europe exported more than 540 thousand tons of whey globally. China is the first importer of European whey. Germany held a 22% share of the total production of cheese in the European Union in 2017. The considerable inclination toward cheese production is attributed to the rise in consumption and exports of cheese from the country, benefiting the whey protein producers.
- In the United Kingdom, the average yield per cow per annum has increased considerably, approximately by 94% since 1975, up from 4,099 liters to 7,959 liters in 2018. The production of whey protein powder has been surging in the region in the past few years and is expected to continue in the same way in the forecast period, which observed a Y-o-Y growth rate of 1.78% in 2019. In 2019, the average yield per cow per annum increased to 8,144 liters, or by 2.32%, from the previous year. Thus, the total domestic milk production has amplified, from which less than 7% is exported, thereby providing easy access to whey protein manufacturers.
- The demand for dairy alternatives has increased among lactose-intolerant adults in Europe. The expanding food industry in the country experienced a demand for high-quality protein ingredients from consumers, thereby driving the application of whey protein in the region. The production volume of whey powder in Europe is expected to increase continuously by 250 thousand metric tons (+11.27%) in the future. Thus, the production volume is estimated to amount to cross 2.3 million metric tons in 2029.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Market maturation and declining birth rates are accountable for the slow growth rate
- Healthy trends in beverages impacting market growth
- Consumers' preferences shift to premium condiments and sauces, away from packaged soups
- Dairy alternatives to witness significant growth rate
- Innovation in product formulations has greater scope in the market
- Healthier snacking is likely to impel the market
- Natural and organic products are taking over the market
- Strong hold of the retail sector is supporting market growth
- Sustainable and innovative packaging trends to influence breakfast cereals market
- Innovation in chocolates driving the sales
- The growing demand for nutrition-specific diets may drive the market demand
- Single-head households to drive the RTE/RTC market
- Increased meat production to push the market growth
- Animal protein consumption growth fuels opportunities for key players in the ingredients sector
