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 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).
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 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.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Whey Protein Market: Regional Landscape
North America To Lead Overall Whey Protein Market Share In 2022-2028
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:
This report is based on in-depth qualitative and quantitative analyses of the global Whey Protein market. Zion Research has collected and analyzed key data belong to the global Whey Protein market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Whey Protein across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Whey Protein industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Whey Protein market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
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.
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 2015. 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 2015
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 2015 due to increasing in geriatric population in this region. Europe accounted more than 38% of the global whey protein market in 2015. 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.
Key market players of whey protein market include American Dairy Products Institute, Arla Foods, Agropur MSI, DMK Group, Glanbia Plc and Westland Milk Products.
Surging cases of chronic illness owing to altering life patterns in millennial population have led to large-scale intake of diet enriched in protein. This has transformed into huge expansion of whey protein market.
According to Zion market research report, 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.
North America will contribute sizably towards the global market revenue over the projected timeline. A massive increase in Whey Protein Market size in sub-continent over 2022-2028 can be due to increase in obese population & lifestyle related disorders among people in countries such as the U.S.
The key industry participants leveraging business space include 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.