The global whey protein market is expected to grow at a prolific CAGR of 7.5% from 2023 to 2033. The target market is set to reach an estimated US$ 19.6 Billion in 2023. By 2033, the whey protein market will likely reach US$ 40.3 Billion. Rising demand for whey protein from the personal care, health, and wellness sector is expected to drive the growth of the whey protein market during the forecast period.
Whey protein will experience increased demand over the coming years as they are a well-known form of protein and have a high nutritional value. Bodybuilders and weightlifters frequently use whey protein to increase lean muscle development and aid in muscle protein synthesis. Additionally, current health and exercise trends support the expanding demand for whey protein in the international market.
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The amino acids found in whey protein are essential to the body which differentiates it from other protein sources. Thus, the market for whey protein will witness higher demand as a fitness supplement in the upcoming years. Further, whey protein is in high demand in sports nutrition due to the greater needs of elite athletes and bodybuilders. Also, growing experiments in the food and beverage sector also contribute to the growth whey protein market. This is owing to the rise of consumers who are increasingly health-conscious and seeking healthy options in the market.
Moreover, whey protein has been proven to moderate blood sugar levels to a specific extent, specifically when taken before or combined with high-carb meals. This is particularly beneficial for people who are at risk of type 2 diabetes. Hence, the market for whey proteins is undergoing heightened demand. Other factors like food fortification- where certain beneficial ingredients to a product to improve its functional properties- and protein standardization- where protein content in a food product is adjusted to either meet regulatory guidelines or enhance the functional properties of the product- also contribute to the growth of the whey protein market during the forecast period.
“Rising health consciousness, prevailing fitness trends, and popularity of sports nutrition will supplement the global growth of the whey protein market over the forecast period,” says an FMI analyst.
Key Takeaways:
- The availability of adulterated and contaminated whey protein may stymie the market growth.
- High demand for infant formula will drive the target market sales in Mexico.
- The whey protein market in the United States will predicted a CAGR of 4.7% during the assessment period.
- India’s whey protein market will grow at a CAGR of 11% during the forecast period.
- By application, the nutrition and pharmaceutical sectors will dominate the global marketplace.
- Whey protein isolated powder holds about 85% of the overall market demand.
Competitive Landscape
Hilmar Cheese Company, Alpavit, Maple Island Inc., Glanbia, Wheyco Gmbh, Saputo Inc., Davisco Foods International Inc., Fonterra Cooperative Group Ltd., Milk Speciality Globals, and Milkaut SA among others are some of the major players in the whey protein market profiled in the full version of the report.
Key market participants are concentrating on various promotion strategies to generate awareness about the product and increase sales. These firms are also increasing their investments in research and development activities to develop their product portfolio.
More Insights into Whey Protein Market Report
In its latest report, FMI offers an unbiased analysis of the global whey protein market, providing historical data from 2022 to 2032 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (whey protein hydrolysates, whey protein isolates, whey protein concentrates (whey protein concentrates 35, whey protein concentrates 50, whey protein concentrates 60-80)), application (food and beverages, nutrition products and pharmaceuticals, feed applications, others), and region.
According to the latest FMI reports, based on segmentation, the nutrition products, and pharmaceutical application segment is expected to generate the highest demand over the projected period. In terms of product type, whey protein isolated powder will account for around 85% of the overall market demand owing to the growing consumer preference for including protein in regular and everyday foods.
Based on region, the whey protein market in India will exhibit substantial growth during the forecast period. The target market will record a CAGR of 11% in this country. This growth can be attributed to the rising interest in sports and fitness activities and an upsurge in consumers’ willingness to try new protein products. In addition to India, the United States and Mexico will also demonstrate considerable growth in the whey protein market during the projected period.
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Key Segment
By Product Type:
- Whey Protein Concentrate
- WPC 35
- WPC 80
- Whey Protein Isolate
- Whey Protein Hydrolysates
By Nature:
- Organic
- Conventional
By End Use:
- Infant Formula and Baby Foods
- Dietary Supplements
- Food Processing
- Sports Nutrition
- Beverages
- Others
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