Market Trends of united states whey protein ingredients Industry
Sport/performance nutrition to witness significant growth during forecast period
- Rising health concerns and memberships across health clubs are primarily driving the sport/performance nutrition industry. From 2009 to 2019, the number of gyms in the United States rose by 39%. However, the industry witnessed a significant decline due to gym closures during the COVID-19 pandemic-induced nationwide lockdown in 2020. Health clubs are among the most popular sales channels for sports supplements. The closure of health clubs had a negative impact on the sales of supplements. In 2020, several gyms like Gold's Gym, Flywheel Sports, Town Sports International, and 24-Hour Fitness declared bankruptcy. Sales of sports nutrition products decreased in 2020, and the industry's overall Y-o-Y growth rate reduced by 3.37%.
- The importance of leading an active lifestyle is fueling the sports nutrition market. In 2021, 67% of US consumers aged six and above participated in fitness activities, of which 43.3% of consumers engaged in individual sports, 52.9% in outdoor sports, and 22.1% in team sports. Consumers are becoming more aware of the value of optimal nutrition and healthier lifestyles, all of which positively impact the sport nutrition supplements market.
- Sports/performance nutrition is the fastest-growing end-user segment in the US whey protein ingredients market, of which animal protein accounts for a major share of 91.1% in terms of value. The fitness industry is rapidly increasing the usage of animal protein ingredients, such as whey, collagen, and milk proteins, in nutritional supplements used for muscle or tissue repair after workouts. The rise in the availability of protein supplements, a growth in the number of recreational and lifestyle users of these products, and an increase in health awareness are expected to foster market growth over the forecast period.
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Increasing dry whey production to stabilize whey protein prices during forecast period
- Whey production is mainly driven by the supply obtained from cheese production plants, accounting for a majority of the country's liquid whey production. As of April 2022, there were over 500 cheese production plants in the United States. Whey powder dominates the whey products market, closely followed by WPC. Around 934 million pounds of dry whey is produced in the country, out of which whey protein concentrate accounts for 509 million pounds. The demand is mainly driven by a strong inclination toward protein and high-protein products across the country's food and beverage market.
- Major companies are working toward securing additional whey plants. Whey has become a key resource in the dairy market. Sports and performance nutrition products are driving strong growth in the high-end protein ingredients sector. With the rising demand for WPC, there is a shift in preference from dry whey to WPC. However, the fluctuating prices may hinder the production of WPC in the market. The average price of WPC 34% was USD 1.2149 in November 2021, compared to USD 0.9124 in 2020.
- In 2020, the overall whey production declined due to the pandemic because production plants had shut down across the nation. The production volume of dry whey was nearly 951 million pounds, which was down by 2.7%. The production volume of WPC was about 478 million pounds, which was down by 2.7% from that of 2019. On the contrary, production in milk plants witnessed a surge due to panic buying, which stabilized after April 2020. The production of dry whey for the animal feed sector is stable as prices remain unchanged. Although WPC production is stable, some market players are expecting higher prices for higher-concentration WPC in the next few quarters, which is likely to have a positive impact on production.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Baby food to witness steady growth post pandemic
- Innovation holds key to maintain steady growth rate
- Consumers' preferences shift to premium condiments and sauces, away from packaged soups
- Dairy alternatives to witness significant growth rate
- Great opportunities for meat alternative products
- Key players focusing more on healthy ingredients post COVID-19
- United States cosmetic industry to drive by synergy of innovation and social media influence
- The growth of the bakery industry is led by large commercial players
- Sustainable and innovative packaging trends to influence breakfast cereals market
- 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
- Rising us feed exports and feed prices are expected to impact production
- Animal protein consumption growth fuels opportunities for key players in the ingredients sector
