Market Trends of north america whey protein ingredients Industry
Sport/performance nutrition to witness significant growth during forecast period
- The North American plant protein-based sports nutrition market grew by 23.65% in value from 2016-2019. In 2020, it witnessed a steep decline of 3.35% in its Y-o-Y growth rate. This decline was attributed to gym closures due to lockdowns and COVID-19-related restrictions in major countries like the United States, Canada, and Mexico. For instance, health clubs, one of the common sales channels for supplements, impacted the sales of supplements adversely as the pandemic took a harsh toll on fitness club operators, employees, and consumers. In 2020, more than 17% of fitness facilities permanently closed in the United States.
- North America is one of the world's leading sport and performance nutrition markets, owing to the increasing trend of athleticism and rising health awareness. The innovation of new flavors with health benefits is predicted to support the market growth by 18% during the forecast period (2023-2029). The increased consumers' proclivity to maintain nutrition boosts the demand for plant proteins. Fortified organic products also witnessed a growth of around 40% from 2019 to 2021.
- In North America, the demand for sports nutrition products is rising quickly from core users and consumers who lead active lifestyles. Sports nutrition items focused on energy, weight control, muscle support, and healthy snacking were consumed by light users. Sports supplements essential for muscular growth, strength performance, endurance, and recovery are mainly preferred by core or heavy users. For instance, in 2021, within the United States, 41.7% of users were consuming protein products, boosting plant protein sales as the preference for a plant-based diet increased by 27% from 2019 to 2020.
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Increasing dry whey production to stabilize whey protein prices during forecast period
- Whey production is mainly driven by the supply from cheese production plants, which accounts for a majority of the country's liquid whey. Whey powder dominates the whey-based product market, closely followed by whey protein concentrates (WPC). Rising consumer awareness towards a healthy diet, an increasing percentage of elder age people across the region around 50 million people are aged above 65 in the United States, and rising interest of youngsters in sports and nutrition is further driving the production to meet the increasing demand.
- North America is the second-largest market for whey protein after Europe, in terms of exports and imports. Canada is the second-largest market after the United States. In 2020, overall whey production declined due to the COVID-19 pandemic as production plants shut down across the nation. However, milk plants witnessed a surge during the pandemic, which settled down after April 2020. In 2020, whey production was affected as the US cheese industry was exposed to hardships, with almost 50% of cheese sales reliant on food service outlets. For instance, whey production observed a hike of 9% in y-o-y in 2017 due to the reduction of 10% in export prices.
- In the dairy industry, there has been an outstanding increase in recent years by Canadian dairy product manufacturers in the usage of other milk products, which include milk solids to manufacture cheese, skim milk powder, and whey and milk protein concentrate. Overall milk production was to increase by 10.095 metric tons in 2020, with a 1% increase over the previous year. Moreover, milk production is expected to meet additional demand. Owing to this, in 2022, the total whey production was around 7% higher from March to July as compared to the previous year's data.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Organic baby food to drive the market in the future
- Fortified beverage to witness a rise in sales during forecast period
- Hike in single-serve packets’ demand may augment production
- Dairy alternatives to witness significant growth rate
- Great opportunities for meat alternative products
- Key players focusing more on healthy ingredients post COVID-19
- Cosmetic industry to drive by synergy of innovation and social media influence
- Large commercial players lead the growth of the bakery industry
- Consumer shift toward low-carb diets poses a threat to the market growth
- Key players to focus fortification and nutritional enrichment
- Emphasizing awareness and innovation; driving force behind elderly nutrition market growth
- E-commence will emerge as one of the most preferred channels
- Steady demand from united sates to support market
- Animal protein consumption growth fuels opportunities for key players in the ingredients sector
