Whey Protein Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Whey Protein Companies and Market is segmented by Type (Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein); Application (Sports and Performance Nutrition, Infant Formula, Functional/Fortified Food, Food Additives, and Feed Applications); and Geography (North America, Europe, South America, Asia-Pacific, and Middle East and Africa). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

Whey Protein Market Size

Whey Protein Market Summary
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Study Period 2018 - 2029
Base Year For Estimation 2023
CAGR 7.13 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Medium

Major Players

Whey Protein Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Whey Protein Market Analysis

The global whey protein market is projected to grow at a CAGR of 7.13% over the next five years.

The key factors that drive the growth of the whey protein market in the region are rising demand for dairy ingredients, consumer awareness towards a healthy diet, rising trend of the health club and fitness centers, an increasing percentage of older age people across the globe, and keen interest of youngsters towards sports and nutrition. Flavors, nutritional values, ease of carrying, and perishable nature make whey snacks a popular choice amongst not only health-conscious but millennials looking for quick snack options to full meals and older people looking for a protein-reach diet. Further, Sales are anticipated to be driven by an increase in the usage of whey protein in sports nutrition and weight management products, such as bars, powders, and beverages, as well as an increase in the number of fitness centers suggesting protein supplements.

However, Whey protein is frequently employed to enhance biological value, produce superior physical, textural, and other food functional aspects, enhance sensory qualities, and develop high-protein and low-lactose products. Additionally, efforts to find novel uses, such as creating edible films, will help the sector expand. Food packaging made of biodegradable or edible materials is a practical solution to increase food quality and shelf life while lowering the environmental pollution. Over the projection period, this is anticipated to boost product demand. Patients with cancer undergoing chemotherapy or radiation therapy may struggle to achieve their nutritional needs due to a lack of appetite. Therefore, Whey protein products can aid in addressing this concern.

The consumption of the protein-rich diet increased during the COVID-19 pandemic, as consumers started to consume more of that food and beverage with high nutritional claims to keep their overall health in check. Therefore, this factor derived the revenue for global whey protein ingredients in the global market during the COVID-19 pandemic.

Whey Protein Market Trends

This section covers the major market trends shaping the Whey Protein Market according to our research experts:

Growing Demand for Performance Nutrition and increasing inclination towards weight management products

Growing demand from the health, performance, and sports industries has led to significant growth in the whey protein-based product market. At the same time, food-processing industries use whey protein for manufacturing health drinks. In Asian countries, the growing middle-class population and economic growth have increased the consumption rate of health drinks. Awareness among the mass to be fit and remain in shape, along with enhancing the body's immunity, has led to significant body demand for whey protein in urban areas. This increase in muscle and fitness enthusiasts has prompted a growing consumer demand for protein sports beverages, specialized nutritional drinks, nutritional snack bars, and other products designed to optimize athletic performance.

Additionally, there is a strong demand for whey protein in the food and beverage industries since it enhances flavor, serves as an emulsifying salt, and stabilizes. During the forecast period, a high level of product demand is anticipated in the beverages industry. For instance, in March 2022, MusclePharm, a global provider of leading sports nutrition and lifestyle branded nutritional supplements, launched a high whey protein drink line (Ready-To-Drink protein drink) with over 20g of protein in multiple sugar-free flavors.

Gym enthusiasts and bodybuilders are the prime consumers of weight management and Whey Protein products. Moreover, bodybuilders incorporate these products with a specific plan to achieve different fitness goals, such as gaining lean mass and improving their body composition. Furthermore, the market benefits from the rise in recreational and lifestyle users. Changes in lifestyle and the increase in disposable incomes in the region are the driving factors for the growth of the consumer base in the market. For instance, in July 2022, CTRL, a fastest-growing meal replacement brand in the United States, launched new meal on-the-go bars packed with wholesome ingredients, including premium whey protein, to satisfy consumer appetite, according to the company's claim.

Whey Protein Market - Global Whey Protein Market: Percentage of Overweight, by Age, in Percentage (%), in Canada, 2021

North America, Europe and Asia-Pacific are the Fastest Growing Regions

The increasing inclination of consumers toward physical fitness and workouts and the strong growth in the number of health clubs and fitness centers are the major factors fostering the growth of the segment in these regions.

By size of the global whey protein market, North America and Europe account for the highest share of the global region. The key drivers of the market are the performance diet of non-athletes and the increased demand for performance nutrition and beverages. However, the undefined regulatory guidelines, health/safety concerns when use is not regulated, and the competition from plant proteins act as restraints to the growth of the market studied. Besides that, Asia-Pacific is considered to be the fastest-growing region for the whey protein market owing to the awareness of fitness and protein intake in the body. For instance, in August 2021, Arla Foods introduced a whey component made in Argentina to meet the rising demand for high-quality, high-protein yogurts in South America and Internationally.

For instance, in December 2022, A new supply agreement has been made between Milcobel, a Belgian dairy cooperative, and Arla Foods Ingredients. The ingredient provider will receive whey protein retentate from Milcobel's Langemark mozzarella production facility. In order to manufacture speciality ingredients for high-end protein markets, such as milk fat globule membrane for newborn formulae and whey protein hydrolysates for medical nutrition, Arla Foods Ingredients will refine the raw material.

Whey Protein Market - Whey Protein Market: Market Size (%), Global, 2021

Whey Protein Industry Overview

Developed markets in Western Europe, the United States, and Canada have witnessed a paradigm shift in consumers' consumption patterns of whey protein. Players such as Arla Foods, Glanbia Nutritionals, Lactatis Ingredients, Fonterra Group, Agropur, and Friesland Campina dominate the market. Other prominent players in the market include Murray Goulburn, DMK Group, Carbery, and Hilmar Ingredients, amongst others. Owing to the rising penetration of whey protein into the sports nutrition industry, the major companies are focusing on new and innovative product launches.

Whey Protein Market Leaders

  1. Agropur MSI, LLC

  2. Arla Foods

  3. Carbery Group Ltd.

  4. FrieslandCampina

  5. Glanbia Nutritionals (NA), Inc.

*Disclaimer: Major Players sorted in no particular order

Whey Protein Market Concentration
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Whey Protein Market News

  • In July 2022, NZMP Fonterra's global ingredients business entered into a joint venture with Tillamook Country Creamery Association (TCCA) and Three Mile Canyon farms in the US to launch Pro -OptimaTM, a grade A functional Whey protein concentrate, to the market.
  • In December 2021, Lactalis ingredients launched high protein concepts targeting sports nutrition and healthy aging. The items are high-protein shakes and high-protein pudding, which contain a blend of two native protein sources, the Pronativ native micellar casein, and Pronativ whey protein.
  • In October 2021, Arla Foods launched the latest product innovation center of 9000 m2 with state-of-the-art facilities for its subsidiary Arla Foods Ingredients for research and production of products like Whey concentrates, lactose products, and infant nutrition in Denmark.

Whey Protein Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Whey Protein Concentrate

      2. 5.1.2 Whey Protein Isolate

      3. 5.1.3 Hydrolyzed Whey Protein

    2. 5.2 Application

      1. 5.2.1 Sports and Performance Nutrition

      2. 5.2.2 Infant Formula

      3. 5.2.3 Functional/Fortified Food

      4. 5.2.4 Food Additives

      5. 5.2.5 Feed Application

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 United Arab Emirartes

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Strategies Adopted

    3. 6.3 Company Profiles

      1. 6.3.1 Agropur MSI, LLC

      2. 6.3.2 Arla Foods

      3. 6.3.3 Carbery Group Ltd.

      4. 6.3.4 FrieslandCampina

      5. 6.3.5 Glanbia Nutritionals PLC

      6. 6.3.6 Fonterra Group

      7. 6.3.7 Hilmar Cheese Company

      8. 6.3.8 Lactatis Ingredients

      9. 6.3.9 Saputo Inc.

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. THE IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability
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Whey Protein Industry Segmentation

Whey protein is one of the primary proteins found in dairy products. A byproduct of the cheese-making process, whey protein provides substantial amounts of the essential amino acids needed to carry out the functions that proteins perform in the body. The scope of the global whey protein market includes the segmentation of whey protein based on a type, such as Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein. Further segmentation has been done based on applications such as Sports and Performance Nutrition, Infant Formula, Functional/Fortified Food, Food Additives, and Feed Applications. By geography, the market is segmented into North America, Europe, South America, Asia-Pacific, Middle-East, and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).

Type
Whey Protein Concentrate
Whey Protein Isolate
Hydrolyzed Whey Protein
Application
Sports and Performance Nutrition
Infant Formula
Functional/Fortified Food
Food Additives
Feed Application
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Italy
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
United Arab Emirartes
South Africa
Rest of Middle East and Africa
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Whey Protein Market Research FAQs

The Whey Protein Market is projected to register a CAGR of 7.13% during the forecast period (2024-2029)

Agropur MSI, LLC, Arla Foods, Carbery Group Ltd., FrieslandCampina and Glanbia Nutritionals (NA), Inc. are the major companies operating in the Whey Protein Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Whey Protein Market.

The report covers the Whey Protein Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Whey Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Whey Protein Industry Report

Statistics for the 2024 Whey Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Whey Protein analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Whey Protein Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)