Whey Protein Ingredients Market Overview:
Global Whey Protein Ingredients Market size was valued at $8,216 million in 2015, and is expected to reach $15,037 million by 2022, registering a CAGR of 9.2% during the forecast period. Whey protein ingredients are globular proteins isolated from whey-the liquid material obtained as a byproduct of cheese production. Consumers are embracing these ingredients for high protein content as compared to soy, egg, and other milk-based proteins. Whey proteins are consumed globally as dietary supplements owing to various health claims associated with them. For instance, whey protein is generally used to improve lipid profile glucose levels and insulin response, thereby promoting arterial stiffness and a reduction in blood pressure. Moreover, whey protein concentration is regulated by the addition of denatured powder to provide balanced nutrition for the infants. In addition, these ingredients reduce hepatic cholesterol levels among the elderly. Growth in popularity of whey supplements among youngsters and emergence of whey protein-based pediatric milk formulations coupled with advancements in production technologies are some of the key factors that drive the market growth.
The global whey protein ingredients market is segmented based on type and application. On the basis of type, the market is classified into whey protein concentrates, whey protein isolates, demineralized whey, and hydrolyzed whey protein. The whey protein concentrates segment is further sub-categorized into whey protein concentrate 80 and whey protein concentrate 35. By application, the market is categorized into bakery & confectionery, dairy products & frozen foods, sports nutrition, beverages, meat products, medicine, and others (infant nutrition and personal care products)
The demand for whey protein concentrates has increased especially in the personal care industry owing to its characteristics of mass gain, improved immunity, increase in strength, and fat loss. Factors such as potential health benefits of dairy nutritional and nutraceutical ingredients, high demand for milk-based ingredients in skin and hair care cosmetics, and easy availability of caseins and caseinate drive the global whey protein ingredients market. Moreover, the demand for nutraceutical ingredients from the food processing sector is on a significant increase, thus acting as a promising opportunity for the growth of the global whey protein ingredients market. Body builders often consume concentrated whey protein to increase their muscle mass. Furthermore, senior citizens with poor appetites consume protein shakes to ensure efficient nutrition. Thus, whey protein concentrate segment is expected to witness the highest growth rate in the market during the forecast period.
The global whey protein ingredients industry offers various opportunities to the market players, owing to rapid growth in the global economy and disposable incomes. Increase in use of whey protein ingredients as wellness trend, demand for dairy ingredients, increase in number of working women and health conscious population are some prominent aspects that augment the growth of the market. In addition, whey protein isolates are expected to witness rapid adoption in sports nutrition (protein shakes), frozen foods (processed meat), packaging, and bakery & confectionery (bakery muffins) applications. However, undefined regulatory guidelines, fluctuating milk prices, as well as issues associated with increase in number of diseases among animals are some of the key elements anticipated to hamper the growth of the market during the forecast period.
Growth in demand for hydrolyzed whey proteins as nutritional supplement among infant formulas and sports and medical nutrition products especially in North America and Europe is expected to drive the overall market growth. Moreover, increase in per capita disposable incomes in developing countries such as China, India, and Korea has led to an upsurge in the use of whey protein ingredients, thereby leading to unprecedented increase in demand for the ingredients globally. In addition, surge in demand for the ingredients in meat products, poultry, and fish on account of its water binding capacity further drives the market growth.
Top Investment Pockets
Sports nutrition and bakery & confectionery segments offer the maximum market potential in the global whey protein ingredients market, owing to rapid urbanization and favorable macroeconomic factors. Increase in demand for protein supplements such as sports drinks and protein shakes among athletes coupled with use of whey proteins in the production of bakery and confectionery products such as muffins, cakes, and toffees are some factors that drive the demand for whey protein ingredients across the globe. Moreover, Japan and China have witnessed major consumption of whey proteins, owing to increase in number of health clubs and fitness centers. This acts as central distribution centers for whey protein products for bodybuilders, athletes, and recreational users. The sports nutrition and bakery & confectionery segment is expected to register a significant CAGR during the forecast period. Furthermore, use of whey protein ingredients in medicine and dairy products is on an increase, thereby fueling the market.
Top Investment Pockets
The global whey protein ingredients market is segmented on the basis of type, application, and geography. Based on type, the market is classified into whey protein concentrate, whey protein isolate, hydrolyzed whey protein, and demineralized whey protein. The whey protein concentrate segment dominated the global market in 2014, and is anticipated to maintain its dominance throughout the forecast period. The whey protein concentrate segment is projected to grow at a significant CAGR of 9.3% during the forecast period.
Whey Protein Ingredients Market Share, By Type, 2015 (%)
The global whey protein ingredients market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a considerable whey protein ingredients market share of the total revenue in 2015, followed by Europe and Asia-Pacific. Developing economies in Asia-Pacific region such as Korea, China, and India are anticipated to witness a significant growth rate owing to increase in consumption of sports nutrition and whey protein-based beverages and confectionery products. In addition, increase in investments by pharmaceutical giants in R&D on the use of ingredients for specific medicinal formulations is another key element that fuels the growth of the market.
UK Whey Protein Ingredients Market size, 2014-2022 ($Million)
Prominent players have largely invested in R&D activities to develop advanced products to cater to the requirements of the market. The key players operating in the global whey protein ingredients industry analysis include Arla Foods, Cargill Incorporation, Hilmar Cheese Company, Fonterra Co-Operative Group Ltd, Carberry food ingredients, Glanbia plc, Davisco Food International, Maple Island Incorporation, Dairy Farmers of America, and Milk Specialities Global.
Other players in the global whey protein ingredients industry value chain (profiles not included in the report) include Foremost Farms, Valio Ltd, DMK Group, Westland Milk, Agropur MSI, Axiom Foods Incorporation, Kerry group, Amco proteins, Archer Daniels Midland Company, and CHS Incorporation.
- The report provides an extensive analysis of the current whey protein ingredients market trends and future projections.
- The report provides comprehensive analysis of North America, Europe, Asia-Pacific, and LAMEA to understand the regional whey protein ingredients market trends.
- The report includes the qualitative and quantitative analyses of the current market from 2014 to 2022 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided in the report.
- Extensive analysis is conducted by following key product positioning and by monitoring the top competitors.
- The report provides extensive qualitative insights on the potential and niche segments or regions.
- The report provides key insights on strategic analysis of various companies as well as the value chain analysis of whey protein ingredients.
Whey Protein Ingredients Market Key Segments:
- Whey Protein Concentrate (WPC)
- WPC 80
- WPC 35
- Whey Protein Isolate (WPI)
- Hydrolyzed Whey Protein (HWP)
- Demineralized Whey Protein (DWP)
- Bakery and Confectionery
- Dairy Products and Frozen Foods
- Sports Nutrition
- Meat Products
- Others (Personal Care and Infant nutrition)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA