Whey protein serves various functions and finds applications across multiple industries. In food and beverages, it acts as a source of high-quality protein enhances texture, and improves the nutritional profile of products. In sports nutrition, it aids in muscle recovery and growth. Whey protein also possesses emulsifying and foaming properties, making it useful in food processing. It is used in formulations in the pharmaceutical industry for its bioactive properties. Furthermore, due to its functional and nutritional attributes, whey protein finds applications in animal feed, cosmetics, and personal care products.
According to Data Bridge Market Research, the Whey Protein Market accounted for USD 14.31 billion in 2020 and is expected to reach USD 26.70 billion by 2029. The market is expected to grow with a CAGR of 8.11% in the forecast period of 2022 to 2029.
“The rising prevalence of obesity around the world and a need for nutritional convenience food boosts the market’s growth”
The global demand for whey protein has been propelled by increasing concerns about health among individuals who prioritize a well-balanced and nutrient-rich diet, have played a significant role in driving the demand for whey protein. Additionally, the surge in health awareness programs that emphasize the importance of wellness and a nutritious diet has influenced the global consumption of whey protein. As a result, these factors have collectively contributed to the escalating demand for whey protein in the market.
What restraints the growth of whey protein market?
“High production cost restraints the market’s growth”
The growth of the whey protein market is hindered by the high production cost associated with its manufacturing process. This cost includes raw material procurement, processing, quality control, and packaging. The expenses involved in producing whey protein can limit its affordability and accessibility to a broader consumer base. As a result, the high production cost acts as a restraining factor, impeding the overall growth potential of the whey protein market and potentially limiting its expansion in certain regions or among price-sensitive consumers.
Segmentation: Whey Protein Market
The whey protein market is segmented on the basis of type, application, price, end users and distribution channel.
- On the basis of type, the whey protein market has been segmented into isolates, concentrates, demineralized, and hydrolysate.
- On the basis of application, the whey protein market has been segmented into nutritional, personal care, food, feed, infant formula, sports and performance nutrition, and functional/fortified food.
- On the basis of price, the whey protein market has been segmented into premium, economy, and low.
- On the basis of distribution channel, the whey protein market has been segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online stores, and other distribution channels.
- On the basis of end users, the whey protein market has been segmented into athletes, bodybuilders, and lifestyle users.
Regional Insights: North America dominates the whey protein market
North America dominates the overall whey protein powder market holds the dominant position globally and has the largest market share. The United States is the primary market within this region.
Asia-Pacific whey protein market is driven by increasing health concerns and rising disposable income, the whey protein powder market is experiencing rapid expansion. In addition, the Asia-Pacific region is a major participant in the global whey protein powder market.
The Europe whey protein powder market is expected to grow at an average rate due to the increasing demand for food and beverages in the region, driving the growth of this market segment.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-whey-protein-market
Recent Developments
- In 2022, Carbery is set to introduce Optipep 4Power, a novel hydrolyzed whey protein (WPH) specially formulated for high-intensity interval training (HIIT).
- In 2019, First Milk has reached an agreement to acquire Fonterra's 51 percent share in the Fast Forward Joint Venture. This acquisition will make First Milk the exclusive owner of the Lake District Creamery's whey protein concentrate manufacturing facilities.
- In 2018, Glanbia Nutritionals enhanced its protein powder capabilities by introducing BevEdge Whey Protein A-220W. This new product is a pre-acidified whey protein isolate that facilitates the development of protein drink mixes with a berry citrus flavor profile.
The Prominent Key Players Operating in the Whey Protein Market Include:
- Glanbia plc. (Ireland)
- Now Health Group, Inc. (U.S.)
- Nutiva Inc (U.S.)
- The Simply Good Food Co (U.S.)
- Iovate Health Sciences International Inc. (Canada)
- MusclePharm Corporation (U.S.)
- Kerry Group Plc (Ireland)
- CytoSport, Inc. (U.S.)
- The Nature's Bounty Co. (U.S.)
- Reliance Vitamin Company, Inc. (U.S.)
- Herbalife Nutrition, Inc. (U.S.)
- Danone SA (France)
- General Nutrition Centers (GNC) Holdings, Inc. (U.S.)
- Orgain Inc. (U.S.)
- True Nutrition (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of whey protein market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Whey Protein Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
