The global whey protein market size is projected to reach USD 18.4 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.8% from 2020 to 2027. The demand for whey protein is projected to be driven by growing innovation in terms of manufacturing proteins that contain a broad range of amino acids and perform specific functions including weight loss, energy balance, satiety, and muscle repair by various manufacturers in the industry.
The Whey Protein Concentrate (WPC) segment is projected to exhibit steady growth owing to their superior characteristics, including a high rate of absorption by muscles and tissues as well as the ability to assist in fat loss, promote lean muscle growth, ensure a healthy metabolism, and provide cardiovascular support in comparison with the other protein ingredients.
In addition, the rising adoption of nutraceuticals as a result of growing health awareness among consumers is expected to fuel the demand for Whey Protein Isolate (WPI) as a functional ingredient. WPI-based nutritional and food supplements are known to boost and maintain the energy levels in the human body.
Growing consumer interest in weight management, especially in working professionals, owing to the increasing concerns regarding obesity, is expected to amplify market growth over the next few years. The rising consumer inclination toward slimming food products and supplements, especially sports enthusiasts, is projected to further augment the demand.
Additionally, increasing incidences of various diseases caused due to the fast-paced and unhealthy lifestyles are likely to encourage consumers across the globe to turn towards health supplements. Such factors are likely to impel the market in China in the coming years.
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Whey Protein Market Report Highlights
• The WPC segment is projected to witness a CAGR of 9.3% in terms of revenue share over the forecast period. The rising consumption of yogurt-based products such as drinkable yogurts, low-fat yogurts, and organic yogurts, to name a few, comprising natural components, is likely to spur the growth of the segment over the upcoming years
• The nutritional supplements application segment accounted for more than 30.7% of the revenue share in 2019. Rising consumption of the product among consumers, such as weekend warriors, core strength and endurance athletes, professional athletes, and fitness enthusiasts is expected to drive the segment
• In Europe, the market is expected to witness a reasonable growth over the forecast period owing to various factors such as increasing emphasis on healthy living, growing trend of preventive health care, and rising demand for protein supplements from countries including the U.K. and Germany
• In Asia Pacific, China accounted for the largest revenue share in the market and is expected to witness considerable growth over the next few years on account of rising consumption of high fiber food and beverage products in the country.
• In April 2019, Saputo Inc. announced the acquisition of Dairy Crest Group Plc, which is based in the U.K. The latter produces cheese, butter, spreads, oils, and demineralized whey powder, and employed around 1,100 personnel as of 2019. The acquisition of Dairy Crest Group Plc has strengthened the position of Saputo Inc. in the U.K.
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Whey Protein Market Segmentation
Grand View Research has segmented the global whey protein market on the basis of type, application, and region:
Whey Protein Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
• Whey Protein Isolates
• Whey Protein Concentrates
• Whey Protein Concentrate 35
• Whey Protein Concentrate 50
• Whey Protein Concentrate 60-80
• Whey Protein Hydrolysates
Whey Protein Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
• Nutritional Supplements
• Personal Care
• Food & Beverages
• Animal Feed & Pet Food
Whey Protein Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Central and South America
• Middle East & Africa
• Saudi Arabia
List of Key Players of Whey Protein Market
• Hilmar Cheese Company, Inc.
• Saputo Inc.
• Glanbia plc
• Fonterra Co-operative Group Ltd
• Arla Foods
• Wheyco GmbH
• Milk Specialties
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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