Whey Protein Market Size, Share, Growth Report 2032

The global Whey Protein Market accrued earnings worth approximately 9.1 (USD Billion) in 2021 and is predicted to gain revenue of about 19.2 (USD Billion) by 2028, is set to record a CAGR of nearly 9.9% over the period from 2022 to 2028. The study provides assessment and analysis of the Whey Protein Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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Whey Protein Market: Outlook

Whey protein contributes nearly 20% of cow’s milk protein contents and benefits human body. In addition to this, whey protein provides myriad health benefits including repair of muscle tissues, reduction of blood pressure, minimizing of cholesterol, and promotion of health. Apart from this, whey proteins are utilized as dietary supplements as they comprise of key amino acids and branched-chain amino acids. Reportedly, whey protein finds massive utilization in medical items, bakery products, confectionery, and infant formulas. However, huge intake of whey protein accompanied by sedentary lifestyle can result in acne and can affect liver & kidneys.  It has been found that consumption of whey protein supplements by athletes resulted into their improved physical performance and had a beneficial effect on vital signs.

Whey protein is one of the two essential proteins found in milk, with the other being Casein Protein. Whey protein is the water-soluble part of milk. Whey protein is chemically non-stimulatory, but may provide energy via means of caloric consumption and an insulin spike from the amino acids. There are many benefits associated with the consumption of whey protein like aiding weight loss, anti-cancer properties, lowering blood pressure and reducing the risk of cardiovascular disease and many others. The protein in cow's milk is approximately 20% whey and 80% casein whereas the protein in human milk is 60% whey and 40% casein.

Increasing awareness about the benefits of the whey protein in the healthcare sector is the major driving factor of increasing demand for whey protein market. Moreover, increasing global trends in healthcare and fitness coupled with the dairy product are expected to contribute toward the impulsive growth of whey protein market. Furthermore, growing demand for pediatric foods and pharmaceutical products are also expected to propel the growth of global whey protein market over the years. However, the high manufacturing cost of whey protein serves as a major restraining factor which hindered the growth of whey protein market. In addition, health & safety concerns, regulatory issue and certifications for marketing are the noticeable factors for hindering the growth of the market. Nonetheless, sports nutrition segment can be considered as a huge opportunity for modification of global whey protein market in the next few years.

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Whey Protein Market: Growth Dynamics

Surging cases of chronic illness owing to altering life patterns in millennial population has led to large-scale intake of diet enriched in protein. This has translated into augmented expansion of whey protein market. Apart from this, enhanced demand for sports nutrition has led to growing popularity of protein supplements such as whey proteins, thereby boosting expansion of whey protein market. Moreover, its easy digestibility and strong amino profile has made in popular as dietary supplement in food & beverages sector. Furthermore, altering customer behavior in countries such as the U.S. is propelling food & beverage firms encompass functional whey protein in their packaged food as a substitution for dietary ingredients having huge proportion of fats. Such moves will create plethora of opportunities for whey protein market.

Moreover, immense use of whey protein in production of personal care & cosmetic items such as skin care and hair care items will prompt business trends. Thriving e-commerce & online retail sectors along with surge in working women populace will increase product utility in cosmetics industry, thereby succoring whey protein market explore new horizons of growth.

Whey Protein Market: Report Scope

Whey Protein Market: Segments Analysis

Based on product, the global market of whey protein is bifurcated into three types: Whey protein concentrate (WPC), whey protein isolate (WPI) and hydrolyzed whey protein (HWP). Hydrolyzed whey protein (HWP) segment was the leading segment followed by whey protein isolate in terms of revenue generation in 2015 and it is expected to maintain its dominance throughout the forecast period. Whereas, Whey protein concentrate (WPC) constitutes over 27% of total whey protein market share in 2015. This growth is mainly attributed to high investment in fitness and gymnasium activities coupled with government support.

Based on application, the global market of whey protein is bifurcated into six types: dietary supplement, pharmaceutical and clinical nutrition, bakers and confectionaries, snacks and dairy products and others. Dietary Supplement segment was the leading segment in 2018. In Asia Pacific region dietary supplement segment had grown approximately three fold during the past decade and is expected to follow the same trend over the next 5 years. However, lack of nutrition among the population in developing countries like India and China is expected to fuel the growth of pharmaceutical and clinical nutrition segment, which is accounted for around 20% of market share in 2018

Whey Protein Market: Regional Landscape

North America To Lead Overall Whey Protein Market Share In 2022-2028

Based on geography, the global market of whey protein is bifurcated into five types: North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Global whey protein market was dominated by Europe in 2016 due to increasing in geriatric population in this region. Europe accounted more than 38% of the global whey protein market in 2016. Asia-Pacific is expected to be the fastest growing market within the forecast period, owing to its larger population and booming industrial sector. An emerging economy like Brazil is expected to fuel growth in Latin America region.

Rapid expansion of whey protein industry in North America over ensuing years can be attributed to increase in obese population & lifestyle related disorders among people in countries such as the U.S. Moreover, growing preference for functional diet & dietary supplements for maintaining good health has led to massive consumption of whey proteins in diet of people in Canada and the U.S. New product launches has further reinforced growth of whey protein market in North America.  

Whey Protein Market: Competitive Landscape

Some of major players have strongly impacted growth of whey protein market and will continue to do so even in foreseeable future. They are ALPAVIT, Hilmar Cheese Company, Inc., Saputo Inc., Olam International, Wheyco GmbH, Arla Foods amba, Milk Specialties Global, Glanbia plc, Milkaut S.A., Davisco Foods International, Inc., and Maple Island, Inc.

The global Whey Protein Market is segmented as follows:

By Type

• Whey Protein Isolates
• Whey Protein Concentrates
• Whey Protein Hydrolysates

By Application

• Food & Beverages
• Personal Care
• Animal Feed & Pet Food
• Nutritional Supplements

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa