Whey Protein Market Size, Share & Trends Report

Whey Protein Market Size, Share & Trends Analysis Report By Type (Isolates, Concentrates), By Application (Nutritional, Food), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Aug, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-286-0
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Industry Insights 

The global whey protein market size was valued at USD 7.4 billion in 2018 and is expected to register a CAGR of 8.1% from 2019 to 2025. Growing awareness about the benefits such as improvement in body strength, presence of enriched nutrients and proteins, prevention against allergic conditions in infants, reverse weight loss in people with HIV, and antioxidants defense is anticipated to drive the market over the forecast period.

Increasing consumption of protein formulation among infants is another factor anticipated to drive the market over the forecast period.  Rapid expansion of the food industry owing to growing population, increasing purchasing power, and health awareness in the countries such as India, China, Indonesia, and Brazil is expected to fuel the market growth over the forecast period.

U.S.  whey protein market

Increasing disposable income of farmers, one of the major customers of animal feed, is driving the demand for animal protein. For instance, a company named DSM serves animal feed with innovative and sustainable solutions. Products that company serves are carotenoids, eubiotics, vitamins: OVN, ROVIMIX stay, and organic grass fed whey green powder.

Increasing application in the personal care industry is expected to be a key factor boosting the growth of the global market.  Products such as face care sleep patches, eye mask gel, anti-wrinkle whey protein patches, anti-aging facial mask, whey protein forehead mask, and anti-hair fall and hair growth shampoo by kateyn are included in the personal care application segment of this market.

Countries such as U.S., U.K., Germany, India, and China have been witnessing an increase in demand owing to rising popularity of sports and fitness activities among millennials. Advantages such as cancer fighting ability, diet support, and stress reduction are fueling the growth of the market. Whey protein products are gaining an increasing acceptance among the fitness enthusiasts owing to growing need for increased physical strength and willingness to ensure proper nutrition intake.

Application Insights

The food industry led the market and generated a revenue of USD 3.4 billion in 2018. This segment has been gaining traction owing to growing awareness of the nutritional benefits among the population. Demand for healthy food products is growing owing to increasing health conscious consumers such as adults and seniors, infants and toddlers, and middle class fitness enthusiasts. For instance, Boomers Nutrition manufactures protein energy for 40+ people. Similarly, Carbery manufactures Optipep specialized pre-digested protein for infants. Companies like Optimum Nutrition, a subsidiary of Glanbia, are among the most prominent players in the market.

The nutritional industry is expected to expand at a CAGR of 8.7% from 2019 to 2025. The segment growth is attributed to availability of products in the form of capsules, tablets, and powders to maintain fitness and provide a balanced nutrition for muscle recovery after physical activities. People with higher muscular activation like professional bodybuilders and athletes are the main consumers of nutritional products. Companies such as Gaspari Nutrition, Universal Nutrition, Dymatize, and Muscle Tech provide nutritional products.

Type Insights

In 2018, concentrates led the global whey protein market with a revenue of USD 3.4 billion. They consist of low level of fat, cholesterol, and lactose. Moreover, they contain key components that are rich in proteins and nutritional properties, having the greatest potential when used in processed foods. For instance, Ora Organic provides variety in whey protein concentrates in the form of powder. This vegan protein powder is available in various flavors such as chocolate, vanilla, and vanilla chai.

Global whey protein market

The isolates segment is expected to expand at a CAGR of 8.6% from 2019 to 2025. They consist of bioactive compounds with minimal carbs and fats, thereby offering immune boosting and antioxidant benefits. For instance, Dymatize launched a whey protein isolated powder named ISO100 with gluten-free quality in various flavors, which helps in fast absorption. Similarly, Isopure launched zero/low carb powder consisting of high protein and low calories, which is beneficial for keto diets.

Regional Insights

In 2018, North America accounted for the largest share of 36.3%. Countries such as U.S drives the market growth due to the presence of health conscious consumers who prefer including additional nutrition to their daily meals. Trend towards consumption of protein product in forms of food and beverages as ready to go products drive the market towards dominant position. Companies such as Milk Specialties and Davis foods International are considered as the prominent player of Market there.

Asia Pacific is expected to emerge as the fastest growing industry, expanding at a CAGR of 9.0% over the forecast period. Increase in awareness regarding protein supplements, change in lifestyle, high scope of sports nutrition and personal care, increasing intake of food supplements, and growing population are the key factors driving the market in the region. Consumers are ready to spend money on protein supplements as they are compatible with increasing population engaging in sports and athletics.

Expansion of the food sector in the countries like India is a key factor boosting the growth of the market. Vast opportunities for sports nutrition in countries like China, Japan, and India are driving the industry. For instance, Glanbia designed a whey derived prolibra chocolates, especially for females, in APAC that targets fat loss for healthy weight management.

Whey Protein Market Share Insights

Companies are taking up various strategic initiatives such as mergers and acquisitions to gain a larger share in the market. For instance, Supley Laboratorio de Alimentos & Suplementos Nutricionais acquired Probiotica Laboratoris for the expansion of its products in sports nutrition with the addition of ProbioticaCA brands. Similarly, Carrington Farms acquired tera’shwey, a whey protein powder producer, to strengthen its position in the health and wealth being segment.

Key players in the market include Hilmar Cheese Company; Maple Island Inc.; Glanbia; Saputo Inc.; Davisco Foods International Inc.; Alpavit; Fonterra Cooperative Group Ltd.; Milk Speciality Globals; Wheyco Gmbh; And Milkaut SA.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Report coverage      

Revenue forecast, company share, competitive landscape, growth factors and trends

Country scope

U.S., Germany, U.K., India, China, Brazil, and Africa

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global whey protein market report on the basis of type, application, and region:

  • Type Outlook (Revenue, USD Billion, 2015 - 2025)

    • Isolates

    • Concentrates

    • Hydrolysate

  • Application Outlook (Revenue, USD Billion, 2015 - 2025)

    • Nutritional

    • Personal Care

    • Food

    • Feed

  • Regional Outlook (Revenue, USD Billion, 2015 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • India

      • China

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Africa

Key questions answered by the report
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