Whey Protein Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Dec 2020 | No. of Pages : 250 Pages | Category : Food and Beverages

The global Whey Protein market size is expected to be worth around US$ 18.5 billion by 2028, according to a new report by Vision Research Reports.

The global Whey Protein market size was valued at US$ 8.8 billion in 2020 and is anticipated to grow at a CAGR of 9.9% during forecast period 2021 to 2028.

Growth Factors

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.

Report Highlights

The Whey Protein Concentrate (WPC) segment led the market and accounted for more than 48.04% share of the global revenue in 2020. WPCs are a group of whey proteins that remain soluble in whey after the precipitation of casein at pH 4.6 and temperature 20°C. These concentrates are a heterogeneous grouping of various dissimilar proteins and contain minerals, lipids, and lactose.

WPCs are used in numerous applications including in the manufacturing of dairy desserts, beverages, and yogurt products. Furthermore, these concentrates are employed as a source of protein fortification for infant food and nutritional products. WPC exhibits gelling property when dissolved in water and heated. This property is extremely beneficial for nutritional and meat industry applications.

Whey Protein Hydrolysate (WPH) exhibits prebiotic, antimicrobial, antioxidant, and hypertensive properties. They are used to manufacture infant nutrition, clinical nutrition, and sports nutrition products. However, hydrolyzed whey proteins are more expensive as compared to their counterparts; hence, a majority of the whey supplement manufacturers add a very small quantity of the same to their respective formulas.

The food and beverage application segment led the whey protein market and accounted for more than 48.03% share of the global revenue in 2020. The product is preferred for bakery and confectionery products due to its ability to emulsify, brown, foam, and thicken products. These ingredients also increase the solubility, nutritional fortification, gelation, and water-binding properties of bakery and confectionery products.

In the personal care and cosmetic industry, it is utilized to produce various products such as hair conditioners, wave sets, hair dyes and colors, shampoos, eye care, and face and body moisturizing products. Therefore, the demand for whey protein in the application is likely to witness significant growth on account of its various characteristics including skin-hydrating, skin-conditioning, and hair conditioning properties.

Shifting consumer preference for herbal and natural ingredient-based premium personal care products is anticipated to accelerate the demand for the product in the personal care and cosmetics application. Moreover, the increasing demand for moisturizers and creams owing to the growing consumer awareness and high disposable income in economies such as the U.S., Canada, France, and China is expected to augment the industry growth.

North America dominated the market and accounted for over 39.03% share of global revenue in 2020. The region has a vast population facing increased obesity levels and lifestyle-related diseases on account of their dietary habits, high disposable income, and availability of several processed and ready-to-eat foods, which are not necessarily good for consumer health. The ‘transitioning face’ of food has evolved into and supplements, which can provide numerous health benefits beyond basic nutrition.

North America is projected to witness steady growth on account of the increasing use of food supplements with reduced calorie levels and high nutritional content. Furthermore, increasing awareness about the consumption of supplement products in Mexico and Canada on account of new product launches is expected to promote the application scope of whey protein ingredients in the region over the forecast period.

In Asia Pacific, the market was valued at USD 1.6 billion in 2020 and is anticipated to witness the fastest growth over the forecast period on account of growing exports and domestic demand for dairy-based protein ingredients such as whey and casein. China is one of the largest producers of dairy-based proteins owing to the easy availability of raw materials.

In addition, a rise in health awareness among people, coupled with an increasing number of fitness clubs in India, is predicted to drive the market of the product over the next few years. The remarkable growth of the food and beverage industry in India and the increase in purchasing power parity of consumers are expected to boost the demand for healthy and functional foods rich in protein content. Augmented demand for nutritional food and beverages among Indian customers is projected to positively impact the market over the forecast period.

Key Players

  • Hilmar Cheese Company, Inc.

  • Saputo Inc.

  • Glanbia plc

  • Fonterra Co-operative Group Ltd

  • Arla Foods

  • Alpavit

  • Wheyco GmbH

  • Milk Specialties

  • Carbery Group

  • LACTALIS Ingredients

  • Olam International

  • Davisco Foods International, Inc.

  • Milkaut SA

  • Leprino Foods Company

  • Maple Island Inc.

Market Segmentation

  • Type Outlook 

    • Whey Protein Isolates

    • Whey Protein Concentrates

      • Whey Protein Concentrate 35

      • Whey Protein Concentrate 50

      • Whey Protein Concentrate 60-80

    • Whey Protein Hydrolysates

  • Application Outlook 

    • Nutritional Supplements

    • Personal Care

    • Food & Beverages

    • Animal Feed & Pet Food

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

The Whey Protein market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Whey Protein market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Whey Protein market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Whey Protein market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Whey Protein market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Whey Protein capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Whey Protein by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Whey Protein market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Whey Protein market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Whey Protein market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Whey Protein industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Whey Protein market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Whey Protein market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Whey Protein market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Whey Protein market. These factors have benefited the growth of the global market for Whey Protein. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Whey Protein. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Whey Protein are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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