Global whey protein market is anticipated to expand at a quick rate over the review period on account of its employment in numerous end-use industries and healthcare, personal care, nutritional, food, feed and pharmaceutical business. Whey protein is obtained from cheese, by separating the liquid portion that has the same soluble substance as cow milk, but, with a lower pH scale level. Therefore, it can be consumed by babies and adults, the former being the sector driving the business exponentially on account of its rising employment in child formulations. Whey protein market was valued at USD 8.95 billion in 2019 and expected to rise at a CAGR of 7.1% to reach USD 12.61 billion by the year 2024.
Market drivers and restraints:
Rising awareness about the advantages like betterment in body strength, presence of high nutrients and proteins, prevention against allergic conditions in infants, reverse weight loss in individuals with HIV, and antioxidants defence is estimated to drive the market over the projected period. Rising consumption of protein formulation among infants is another factor determined to drive the market over the foreseen period.
Report segmented as:
- Whey protein concentrate
- Whey protein isolate
- Whey protein hydrosylate
- Dietary supplements
- Instant formula
In terms of geography, the global whey protein market can be segregated into North America, Latin America, Europe and the Asia Pacific. Europe and North America are the most significant contributors to the whey protein market on account of inflated production and distribution in countries, as well as United States in North America, and Germany, UK and Lithuania in Europe. In the Asia Pacific, after China, Japan, Korea, Thailand and Indonesia are the quickest developing markets on account of increasing awareness toward protein supplements.
Important market players:
Important players operating in the whey protein market are Hilmar Cheese Company, Glanbia, Davisco Foods International Inc., Milk Specialties Global and Maple Island Inc. Other than companies, Ingredia Inc., Nutribio, Alpavit, Wheyco GmbH, Leprino Foods Company, Milkaut SA, Fonterra Corporative Group Ltd., Saputo Inc. and Agropur Cooperative.
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