Whey Protein Ingredients Market
The increasing sale of whey is driven by the increase in demand for high protein containing products. The sale of whey protein as functional beverage is high amongst the athletes. Whey is popular due to its application in infant food formula as it provides necessary protein needed by the infant’s body. Rise in health concerns is one of the major factors contributing to growth of the product. High demands of grab-and-go drinks are supporting the sale of whey protein beverages. In addition, the sale of powdered whey is anticipated to grow at a higher rate based on the higher shelf-life of the product.
Globally the Whey Protein Ingredients Market Size in food and beverage industry is escalating by rising demand of dairy products in the developed countries. The consumption of whey is high based on the high protein content and nutritional value of the product. Whey is found to have multi-purpose application in various other industries, amongst which the application in the sports nutrition food and beverages is increasing at a higher rate. The high demand of ready-to-drink and Ready-to-eat protein supplements is supporting the sale of whey bars and whey functional protein drinks. Global whey protein market size was estimated at USD 8.7 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2020 to 2027.
Competitive analysis-
The major key players in Whey Protein Ingredients Market are
Arla Foods (Denmark), Agropur MSI, LLC (U.S.), American Dairy Products Institute (U.S.), Westland Co-operative Dairy Company (New Zealand), Glanbia, Plc (Ireland), DMK Group (Germany), Davisco Foods Internation, Inc (U.S.), Milk Specialties Global (U.S.)
Key players in Whey Protein Ingredients Market are mainly located in North America and Europe. Key Players from Belgium, U.S. and U.K. are following strategies of merger and acquisition with small players to expand their business in other regions due to increasing demand of whey as a dietary supplement. They are mainly focused on increasing their supply to established industries that have high demand of high protein containing food supplements.
Segment Analysis
Whey is used as a protein supplement due to the high protein content which is about 50-80%. The usage of whey is increasing as it is rich in lactose, vitamins minerals and has high nutritional value. It is now being used unconventionally for the preparation of pizza dough, as a milk substitute and in preparation of rice to raise the portion of protein in these food products. Whey is extensively used in the production of functional beverages which is the most preferred option amongst the athletes. They higher demand of whey is based on its wide application as a core ingredient and as a nutrient enhancer.
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Regional Analysis
The Global Whey Protein Ingredients Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these North America region has the major market share followed by Europe. U.S. is amongst the major producers of whey. Increasing demands of healthy bakery products is supporting the growth of the market in developed countries of North America and Europe region. Canada, Germany, China, U.S., and U.K. are the major importers of whey.
Market Segmentation–
Global Whey Protein Ingredients Market Size is segmented by source, form, type, application, and region
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