The global whey protein powder market was valued at US$ 10,252.9 million in 2018 and is expected to grow at a CAGR of 6.2% from 2019 to 2027 to reach US$ 17,522.4 million by 2027.
Over the last decade, the rising health-conscious customers around the globe have created lucrative opportunities for the whey protein powder manufacturers. Consumers are looking for ways in adopting a healthy and an active lifestyle, which, in turn, boosted the demand for health-oriented food products. Thus, protein supplement bears the same kind of traction in Europe, North America, and APAC. Healthy lifestyle is becoming a normal way of life due to concerns majorly over food sensitivity and obesity, as well as rise in the diseases.
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The Major Market Player Included in This Report are:
Agropur Ingredients, Arla Foods Ingredients, Carbery Group, Glanbia PLC, Clover Fonterra Ingredients, Hilmar Cheese Company, Lactalis Ingredients, Leprino Foods Company, Milk Specialties, and Saputo Dairy Australia Pty Ltd are among the players present in the global whey protein powder market.
The demand for protein supplements from younger population is increasing, mainly in athletes, as they provide various benefits such as building muscles, lowering cholesterol levels, fighting cancer, increasing strength, improving immunity, and lowering blood pressure. Consumers spending on various protein and associated supplements has boosted the market growth over the past few years.Rising demand for whey protein powder from infant formula manufacturers are driving this market. Whey protein powder, specifically demineralized whey powder and WPC-35-80, is one of the prime constituents of infant formulas. The demand for whey-based infant formulas has increased rapidly over the past few years, especially in China. China has the mildest regulatory framework for the consumption of infant formula by babies.
COVID-19 outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, Republic of Korea, France, Germany, and the US are among the worst affected countries in terms confirmed cases and reported deaths. The outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food processing industry is one of the major industries that is suffering serious disruptions such as factories shutdown, supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.
The whey protein powder market, based on applications, is segmented into food & beverages, animal feed, and others. The food & beverages segment accounted for the largest share of the global whey protein powder market in 2018, whereas the others segment is expected to register the fastest growth rate during the forecast period. Along with managing weight loss and lowering cholesterol, whey protein powder is beneficial in increasing bone density and reducing the risk for cardiovascular diseases and stroke. It serves as a low cost alternative to high cost dairy ingredients such as cream, butter, fats, and cheese. It is also as an alternative to eggs in certain applications such as dressings, mayonnaise and no-rise baked goods, and therefore it is used globally in the food industry. Various beverages, such as plain whey beverages, concentrated fruit-based whey beverages, deproteinated whey beverages, whey protein enriched whey beverages, whey-based soups, and dietetic beverages and drinks with hydrolyzed lactose, are produced by using whey proteins.
The food & beverages segment is further bifurcated into infant formula, sports & dietary nutrition, bakery & confectionery, dairy, and others. Among all five segments, the infant formula segment held the largest market share in 2018 and the bakery & confectionery segment is expected to register the fastest growth rate during the forecast period. Many infant formula manufacturers include whey protein powder in their formulations as whey serves all kinds of dietary benefits. High-quality forms of whey protein powder such as isolates mix with liquids easily. Besides, whey is produced from milk, which is what infants primarily consume. Alpha-lactalbumin, a type of whey protein, when added to infant formulas has proved to be of great nutritional importance. The American Academy of Pediatrics reports that about 60% of the protein found in breast milk is whey protein.
The whey protein powder market is broadly segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), the Middle East &Africa (MEA). In 2018, Europe held the largest share of the global whey protein powder market, followed by North America. The whey protein powder market in the Rest of Europe is estimated to be the largest. The demand for whey protein in the Rest of Europe is forecasted to rise due to growing investment in research and development by manufacturers along with the growing number of applications such as food and beverages, pharmaceuticals, and others. Also, robust growth in product offerings is impacting the market growth in the Rest of Europe.
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The overall global whey protein powder market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global whey protein powder market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the whey protein powder market.
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