The global whey protein market is projected to perform at a CAGR of 7.58%, during the forecast period from 2018 to 2023 owing to its complete protein profile and high bioavailability. Whey is a byproduct of cheese manufacturing process. It is the watery portion of milk separated from curd. It is known to contain all 20 essential amino acids that a normal functioning of a human body requires.
The global trend if health and wellness has led to substantial demands for dairy-based products. These growing application scope of dairy based ingredients has been a major driver of global whey protein market. Other factors driving the growth of global whey protein market are increasing emphasis on read-to-drink and performance-boosting products and the advancements in technology that give rise to high quality and versatile product varieties. The whey protein contributes significantly towards the flourishing sports-nutrition/sports-drink market.
The cost of whey protein, safety concerns, and stringent regulatory requirements are acting as a market dampener. As per recently conducted study by the Denver-based Clean Label Project globally, as much as Forty percent of the protein based products sold have elevated levels of BPA and heavy metals, like lead, mercury, cadmium, and arsenic, some of them are very well-known carcinogens. The issues of mouthfeel and opacity particularly when whey protein is incorporated in beverages is one among the prime restraint to whey protein market. Nonetheless, the rapidly growing demand for infant foods, processed foods, and dairy-based items, dietary supplements for elderly population, along with the higher scope of whey protein finding its application in the personal care and sports nutrition segment, are some of the opportunities for this market
The global whey protein market is segmented based on type, application, and geography. Based on type, the hydrolyzed whey protein (HWP) is one of the leading segment due to its high purity and protein content and its extensive application in medical and sports nutrition products. Based on application, the functional beverages is expected to be a fastest growing category due to robust demands emerging from dietary supplements segment.
Regionally, Asia-Pacific whey protein market is expected to grow rapidly owing to the rising health concerns and increase in disposable incomes. The Europe whey protein market is also expected to exhibit substantial growth during the forecast period (2018-2023), driven by the growing awareness towards whey proteins and rising demand for food & beverages.
The key players operating in global whey protein market include - Agropur MSI, LLC, Arla Foods, Carbery, Champignon-Hofmeister Group, Davisco Foods International Inc, DMK Group, Fonterra Co-operative Group, Glanbia Plc, Grande Cheese Company, Huishan Dairy, Hilmar Cheese Company,Inc, Lactalis Ingredients, Leprino Foods, Milk Specialties Global, VOLAC.
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