According to the latest report by IMARC Group, titled “Whey Protein (Powder and Concentrate) Market – Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the global whey protein (powder and concentrate) market reached a volume of nearly 3 Million Tons in 2016, growing at a CAGR of around 4% during 2009-2016. Whey protein is one of the two major proteins found in milk which can be separated during the cheese or casein production process. It is a rich source of various nutrients such as proteins, amino-acids, minerals and vitamins. Whey protein also lowers weight, cholesterol and blood pressure, and reduces the risk of cardiovascular diseases and improves asthma. Owing to these benefits, whey protein is used in various industries such as food and beverage, and pharmaceutical in the manufacturing of frozen desserts, soft drinks, infant foods, ice cream, personal care products, protein supplements, etc.
Highlights of the global whey protein (powder and concentrate) market:
- Growth in the number of fitness-oriented consumers is the key factor for the market growth.
- The European Union represents the largest market, accounting for more than a half of the total share.
- The market is anticipated to reach a volume of more than 5 Million Tons by 2022.
As whey protein aids muscle development by helping in protein synthesis in the body, it is extensively consumed by bodybuilders and athletes, thereby driving the market growth. In addition, a surge in the trend of fitness centres and health clubs is acting as the major driver for the whey protein market growth. Further, whey protein can be consumed by babies for their proper growth as it is rich in nutrients, therefore, it is used in the production of infant formulas. Growing demand for dairy-based products and paediatric foods is thriving the demand for whey protein. Moreover, increasing popularity of ready-to-drink and performance-boosting products along with technological advancements is offering manufacturers the opportunity to introduce high quality and innovative product varieties. Owing to these factors, the market is further expected to reach a volume of more than 5 Million Tons by 2022.
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The market is segregated on the basis of region, wherein, the European Union dominates the whey protein market, holding more than a half of the global share. Some of the other major markets include North America, Oceania, Eastern Europe and Latin America. An evaluation of the competitive landscape provides the details of the key players operating in the market. Some of the key players are Danone, Fonterra, Arla Foods, FrieslandCampina and Glanbia Plc.
The report has examined the global whey protein (powder and concentrate) market on the basis of:
- European Union
- North America
- Eastern Europe
- Latin America
- Arla Foods
- Glanbia Plc.
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