Market Size of Whey Protein Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.13 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Whey Protein Market Analysis
The global whey protein market is projected to grow at a CAGR of 7.13% over the next five years.
The key factors that drive the growth of the whey protein market in the region are rising demand for dairy ingredients, consumer awareness towards a healthy diet, rising trend of the health club and fitness centers, an increasing percentage of older age people across the globe, and keen interest of youngsters towards sports and nutrition. Flavors, nutritional values, ease of carrying, and perishable nature make whey snacks a popular choice amongst not only health-conscious but millennials looking for quick snack options to full meals and older people looking for a protein-reach diet. Further, Sales are anticipated to be driven by an increase in the usage of whey protein in sports nutrition and weight management products, such as bars, powders, and beverages, as well as an increase in the number of fitness centers suggesting protein supplements.
However, Whey protein is frequently employed to enhance biological value, produce superior physical, textural, and other food functional aspects, enhance sensory qualities, and develop high-protein and low-lactose products. Additionally, efforts to find novel uses, such as creating edible films, will help the sector expand. Food packaging made of biodegradable or edible materials is a practical solution to increase food quality and shelf life while lowering the environmental pollution. Over the projection period, this is anticipated to boost product demand. Patients with cancer undergoing chemotherapy or radiation therapy may struggle to achieve their nutritional needs due to a lack of appetite. Therefore, Whey protein products can aid in addressing this concern.
The consumption of the protein-rich diet increased during the COVID-19 pandemic, as consumers started to consume more of that food and beverage with high nutritional claims to keep their overall health in check. Therefore, this factor derived the revenue for global whey protein ingredients in the global market during the COVID-19 pandemic.
Whey Protein Industry Segmentation
Whey protein is one of the primary proteins found in dairy products. A byproduct of the cheese-making process, whey protein provides substantial amounts of the essential amino acids needed to carry out the functions that proteins perform in the body. The scope of the global whey protein market includes the segmentation of whey protein based on a type, such as Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein. Further segmentation has been done based on applications such as Sports and Performance Nutrition, Infant Formula, Functional/Fortified Food, Food Additives, and Feed Applications. By geography, the market is segmented into North America, Europe, South America, Asia-Pacific, Middle-East, and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Type | |
| Whey Protein Concentrate | |
| Whey Protein Isolate | |
| Hydrolyzed Whey Protein |
| Application | |
| Sports and Performance Nutrition | |
| Infant Formula | |
| Functional/Fortified Food | |
| Food Additives | |
| Feed Application |
| Geography | |||||||||
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Whey Protein Market Size Summary
The whey protein market is experiencing robust growth, driven by increasing consumer awareness of health and nutrition, the rising popularity of fitness centers, and a growing interest in sports and nutrition among younger demographics. The demand for whey protein is further bolstered by its application in sports nutrition and weight management products, such as bars, powders, and beverages. The market is also benefiting from the trend of incorporating whey protein into various food products to enhance their nutritional value and sensory qualities. Additionally, the COVID-19 pandemic has accelerated the consumption of protein-rich diets, contributing to the market's expansion. The use of whey protein in innovative applications, such as biodegradable food packaging and medical nutrition for patients with reduced appetite, is expected to further drive market growth.
Regionally, North America and Europe hold significant shares of the whey protein market, supported by a strong demand for performance nutrition and beverages. The Asia-Pacific region is emerging as the fastest-growing market, fueled by increased awareness of fitness and protein intake. The market is characterized by the presence of major players like Arla Foods, Glanbia Nutritionals, and Friesland Campina, who are focusing on innovative product launches to cater to the growing consumer base. Despite challenges such as undefined regulatory guidelines and competition from plant-based proteins, the market continues to expand, driven by changes in consumer lifestyle, increased disposable incomes, and the rising popularity of health and fitness activities.
Whey Protein Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Whey Protein Concentrate
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2.1.2 Whey Protein Isolate
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2.1.3 Hydrolyzed Whey Protein
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2.2 Application
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2.2.1 Sports and Performance Nutrition
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2.2.2 Infant Formula
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2.2.3 Functional/Fortified Food
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2.2.4 Food Additives
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2.2.5 Feed Application
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Italy
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2.3.2.6 Spain
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2.3.2.7 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 United Arab Emirartes
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Whey Protein Market Size FAQs
What is the current Whey Protein Market size?
The Whey Protein Market is projected to register a CAGR of 7.13% during the forecast period (2024-2029)
Who are the key players in Whey Protein Market?
Agropur MSI, LLC, Arla Foods, Carbery Group Ltd., FrieslandCampina and Glanbia Nutritionals (NA), Inc. are the major companies operating in the Whey Protein Market.
