Whey Protein Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Whey Protein Market is segmented by Type (Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein); Application (Sports and Performance Nutrition, Infant Formula and Functional/Fortified Food); and Geography (North America, Europe, South America, Asia-Pacific, and Middle-East and Africa). The report offers market size and forecasts in value (USD million) for the above segments.

Market Snapshot

soy protein ingredients market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 7.13 %

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Market Overview

The global whey protein market is projected to grow at a CAGR of 7.13% during the forecast period (2021-2026).

The consumption of the protein-rich diet increased during the COVID-19 pandemic, as consumers started to consume more of those food and beverage, which had high nutritional claims, so as 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.

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 centre, an increasing percentage of elder age people across the globe and keen interest of youngsters towards sports and nutrition.

Flavours, nutritional values, ease of carrying and perishable nature are making whey snacks a popular choice amongst not only health-conscious people but millennials who are looking for quick snack option to full meals, and older people looking for protein reach diet.

Scope of the Report

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 that are 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 on the basis of type such that Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein. Further segmentation has been done on the basis of applications such that Sports and Performance Nutrition, Infant Formula and Functional/Fortified Food. By geography, the market is segmented into North America, Europe, South America, Asia-Pacific, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Type
Whey Protein Concentrate
Whey Protein Isolate
Hydrolyzed Whey Protein
Application
Sports and Performance Nutrition
Infant Formula
Functional/Fortified Food
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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Key Market Trends

Growing Demand for Performance Nutrition and Beverages

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

Whey Protein Market 1

Asia-Pacific is the Fastest Growing 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 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.

Whey Protein Market1

Competitive Landscape

Developed markets, in particular Western Europe, along with the United States and Canada, have witnessed a paradigm shift in terms of consumption patterns of whey protein among consumers. The market is dominated by players, such as Arla Foods, Glanbia Nutritionals, Lactatis Ingredients, Fonterra  Group, Agropur, and Friesland Campina. Other prominent players in the market include Murray Goulburn, DMK Group, Carbery and Hilmar Cheese Company, 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.

Recent Developments

February 2018, Glanbia launched BevEdge™ Whey Protein A-220W, a new whey protein isolate for clear citrus/berry protein powder drinks.

December 2017, DMK Group and Arla Foods signed a third-party manufacturing contract, wherein DMK agreed to produce 35,000 tons of mozzarella cheese for Arla per year at its Nordhackstedt site in northern Germany.​

November 2017, FrieslandCampina launched their latest innovation in whey protein hydrolysates viz., ‘Nutri Whey Hydro’ at Fi Europe.

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

    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 Active Companies

    3. 6.3 Most Strategies Adopted

    4. 6.4 Company Profiles

      1. 6.4.1 Agropur MSI, LLC

      2. 6.4.2 Arla Foods

      3. 6.4.3 Carbery Group Ltd.

      4. 6.4.4 FrieslandCampina

      5. 6.4.5 Glanbia Nutritionals PLC

      6. 6.4.6 Fonterra Group

      7. 6.4.7 Hilmar Cheese Company

      8. 6.4.8 Lactatis Ingredients

      9. 6.4.9 Saputo Inc.

    5. *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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Frequently Asked Questions

The Whey Protein Market market is studied from 2016 - 2026.

The Whey Protein Market is growing at a CAGR of 7.13% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

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

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