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India Whey Protein Market Size (2024 - 2029)

The whey protein market size in India is poised for growth, driven by the increasing popularity of functional foods and beverages among health-conscious consumers. This trend is fueled by a rising demand for dairy ingredients, heightened awareness of healthy diets, and the growing influence of fitness culture. The market's expansion is further supported by the aging population and the interest of younger individuals in sports and nutrition. Manufacturers are responding to these demands by introducing products with higher whey protein content, enhancing the ingredient's market presence. Additionally, factors such as nutritional benefits, convenience, and flavor variety are making whey protein snacks appealing to a broad demographic, including millennials and older adults. Lifestyle changes, Western cultural adoption, and increased consumer spending are also expected to contribute to the market's growth trajectory.

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Market Size of India Whey Protein Industry

India Whey Protein Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.56 %
Market Concentration Low

Major Players

India Whey Protein Market Major Players

*Disclaimer: Major Players sorted in no particular order

India Whey Protein Market Analysis

The India whey protein market size is expected to grow from USD 91.78 million in 2023 to USD 120.29 million by 2028, at a CAGR of 5.56% during the forecast period (2023-2028).

  • India is one of the fastest developing nations globally. The food sector in the country has grown threefold during the past decade and is expected to follow the same trend over the next ten years. Functional food and beverages have gained immense popularity among the health-conscious Indian population.
  • This trend in the country is one of the major drivers for the market's growth as whey protein is one such ingredient that is widely used in most functional products like healthy snack foods and ready-to-eat meals, among others. In particular, the whey protein market in India is majorly driven by factors like 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 country, and keen interest of youngsters towards sports and nutrition.
  • These factors are attracting manufacturers to launch products with different blends and increased whey protein content which is necessarily raising the need for whey protein ingredients. For instance, in February 2023, Fast&Up launched India's 1st clinically tested blend of plant and whey protein called Fast&Up Fusion Tech Protein. Such expanding applications of whey protein are increasing the market demand.
  • Additionally, various other factors like nutritional values, ease of carrying, different flavors offered by manufacturers, 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. Moreover, high-quality whey protein often improves the taste and texture of many food and beverage applications due to its clean, neutral taste, thus attracting more manufacturers to incorporate whey protein as an ingredient in their products. Besides these factors, lifestyle changes, the adoption of Western culture, growing health-conscious consumers, and increased consumer spending are expected to augment the market's growth during the forecast period.

India Whey Protein Industry Segmentation

Whey protein, also known as whey isolate, is a compound of proteins extracted from whey, a liquid material produced as a byproduct of cheese production. 

The Indian whey protein market is segmented by product type and application. By product type, the market is segmented into whey protein concentrate, whey protein isolate, and hydrolyzed whey protein. Based on application, the market is segmented into sports and performance nutrition, infant formula, and functional or fortified food. 

The market sizing has been done in value terms in USD and for volume terms in volume in tons for all the abovementioned segments.

Product Type
Whey Protein Concentrate
Whey Protein Isolate
Hydrolyzed Whey Protein
Application
Sports and Performance Nutrition
Infant Formula
Functional/Fortified Food
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India Whey Protein Market Size Summary

The whey protein market in India is experiencing significant growth, driven by the increasing popularity of functional foods and beverages among health-conscious consumers. This trend is fueled by a rising demand for dairy ingredients, greater awareness of healthy diets, and the growing interest in fitness and sports nutrition, particularly among the younger population. The market is further supported by the expanding middle class's inclination towards physical activities and the government's increased expenditure on sports. The post-pandemic era has also seen a surge in demand for virtual fitness classes, contributing to the market's expansion. Manufacturers are responding to this demand by launching innovative products, such as blends of whey and plant proteins, to cater to diverse consumer preferences.

Whey protein concentrates are particularly favored due to their cost-effectiveness, nutritional benefits, and versatility, making them a popular choice among manufacturers and consumers alike. The Indian market is characterized by a fragmented landscape with numerous small and international players, all vying for a share of the growing nutrition industry. Strategic joint ventures and product innovations are common as companies seek to capitalize on the rising demand for sports nutrition. The market's growth is also reflected in the increasing imports of protein concentrates, indicating a robust demand across various sectors. Key players in the market include Titan Biotech, Glanbia PLC, Arla Foods, Fonterra Group, and Lactatis Ingredients, all of which are actively involved in expanding their product offerings and market presence.

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India Whey Protein Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Surge in Participation of Sports Activities

      2. 1.1.2 Functional and Processing Bnefits of Whey Protein

    2. 1.2 Market Restraints

      1. 1.2.1 High Manufacturing Costs and Fluctuations in Raw Material Prices

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products and Services

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Whey Protein Concentrate

      2. 2.1.2 Whey Protein Isolate

      3. 2.1.3 Hydrolyzed Whey Protein

    2. 2.2 Application

      1. 2.2.1 Sports and Performance Nutrition

      2. 2.2.2 Infant Formula

      3. 2.2.3 Functional/Fortified Food

India Whey Protein Market Size FAQs

The India Whey Protein Market is projected to register a CAGR of 5.56% during the forecast period (2024-2029)

Glanbia PLC (Optimum Nutrition), Arla Foods, Fonterra Group, Lactatis Ingredients and Titan Biotech are the major companies operating in the India Whey Protein Market.

India Whey Protein Market Report Snapshots

Whey Protein Market in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)