The Global Whey Protein Market was valued at USD 9.84 Bn in 2020 and is expected to reach USD 19.8 Bn by 2027, with a growing CAGR of 10.5% during the forecast period.
Whey protein is a type of protein that is present in whey which is the liquid portion of milk that separates from the curds while making cheese. Whey protein helps in improving the nutrient content in the diet and improves the overall immune system. Additionally, the product experience high demand from athletes and fitness-conscious enthusiasts for enhancing their athletic performance and improving their strength.
The whey protein market is majorly experiencing tremendous traction owing to the rising prevalence of chronic diseases such as obesity. According to the World Health Organisation (WHO), obesity rates across the globe have approximately tripled since 1975. Obesity further leads to other chronic conditions such as heart disease, type-2 diabetes, high blood pressure, stroke, and a certain type of cancers. According to WHO, in 2019, coronary heart diseases killed 360,900 people across the globe. This has resulted in increasing concerns among consumers regarding maintaining health as well as an urge among them to lose weight. Therefore, the consumers are demanding more protein-rich food products that not only help them in maintaining health but also the overall body weight. Whey protein is a rich source of several nutrients such as amino acids, protein, minerals, and vitamins. The consumption of whey protein also helps in lowering weight, blood pressure, cholesterol and reducing the risk of cardiovascular diseases. Owing to these benefits offered by whey protein, the whey protein market is expected to show significant growth trends in the coming years.
Moreover, the multi-functionalities associated with the consumption of whey protein, such as easily digestible, economic applications, and efficient processing are a few other prominent factors expected to drive the growth in the whey protein industry across the globe. Furthermore, the rise in the consumption of sports nutrition among gym-goers and fitness enthusiasts has risen its applicability in sports nutrition products such as protein powder, protein drinks, and protein snacks among others. Additionally, whey protein provides a cost-effective alternative in formulating caramels owing to its excellent processability. This has increased the desirability of the ingredient and has also contributed to driving the demand for whey protein products.
The unique insights provided by this report also include the following:
Based on the product type, the whey protein concentrates product type is projected to account for the major share owing to broad spectrum of product applicability in the manufacturing of beverages, dairy desserts, and yogurt products
Based on the product type, the whey protein market is segmented as whey protein isolates, whey protein hydrolysates, and whey protein concentrates. Among these, the whey protein concentrates (WPC) product type is projected to account for the major share in the whey protein market. This is owing to a broad spectrum of product applicability in the manufacturing of beverages, dairy desserts, and yogurt products. In addition, whey protein concentrates are also employed as a source of protein fortification in nutritional products and infant food. Further, these concentrates experience high demand for meat and nutritional industry application due to their gelling property. Also, whey protein concentrates are much cheaper than other types of whey proteins. All these factors are contributing to surging its demand in the whey protein market.
Based on application, the food & beverage segment is expected to dominate the whey protein industry due to the rising preference and use of whey protein for manufacturing confectionery and bakery products
Based on application, the whey protein industry is fragmented into personal care, nutritional supplements, animal feed & pet food, and food & beverages. Among these, the food and beverages application segment has dominated the whey protein market and is expected to show similar trends during the forecast period. This dominant share is majorly due to the rising preference and use of whey protein for manufacturing confectionery and bakery products. This is owing to its ability to emulsify, offering brown color, foaming, and thickening these products. In addition, whey protein ingredients also help in increasing the solubility, gelation, nutritional fortification, as well as water-binding properties of confectionery and bakery products. Therefore, owing to these properties offered by whey protein ingredients, the whey protein market is anticipated to experience a positive demand in the coming years.
Based on region, the North America region is anticipated to lead the whey protein industry across the globe due to the increasing prevalence of lifestyle diseases such as obesity in the region
Based on region, the whey protein market is divided into Asia-Pacific, North America, Latin America, the Middle East and Africa, and Europe. Among these, the North America region led the whey protein market across the globe and is anticipated to show a significant growth trend during the forecast period. This share is majorly attributed to the increasing prevalence of lifestyle diseases such as obesity in the region. According to the Centers for Disease Control and Prevention (CDC), during 1999–2018, the U.S. witnessed a rise in the obesity rate from 30.5% to 42.4%. Further, the prevalence of severe obesity also rose from 4.7% to 9.2%. Additionally, as per a survey conducted in 2019 by the Institute of Food Technologists, approximately 55.0% of the consumers in the U.S. said that high protein content plays a crucial role and influenced their decision of purchasing food. The survey also showed that about half of the population surveyed in the U.S. is attempting to lose weight. As regular consumption of whey protein helps in reducing fat, the whey protein market is projected to bolster in the region during the forecast period.
The report also provides an in-depth analysis of the market dynamics such as drivers, restraints opportunities, and challenges
Note: Challenges along with in-depth whey protein market dynamics analysis are mentioned in the report.
The COVID-19 has majorly harmed the growth of the whey protein market along with the overall sports nutrition market. The rapid spread virus led to the closure of gyms and other fitness institutions across the globe. This is due to various lockdown measures implemented by economies across the globe to curb the spread of the virus. Owing to this, several companies delayed their product development and launch plans due to the uncertainties on the duration of the lockdown. However, the COVID-19 pandemic has resulted in making consumers more conscious regarding their health and well-being, thus creating demand for nutrition-rich food. This is thereby expected to proliferate demand in the whey protein industry.
The report also provides an in-depth analysis of key trends in the whey protein market
The report also provides an in-depth analysis of recent news developments and investments in the whey protein market
The key players operating in the whey protein industry are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.