Market Trends of Whey Protein Industry
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.
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.
