Due to consumers’ willingness towards adopting healthy lifestyle and escalation in the dairy products market, the market of whey protein ingredients is growing at an incremental pace of development on the global platform. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global ‘Whey Protein Ingredients Market Research Report- Forecast to 2023’ that the market will demonstrate an exponential CAGR while achieving good growth rapidly in the forecast period.
Rising health consciousness and consumers inclination towards fitness trends have prompted the growth of whey protein ingredients globally. Additionally, the sector is driven in a major way by the increasing demand for dairy-based nutritional products from the consumers’ end. Health benefits gained out of whey protein consumption are the main drivers supporting the development of this segment. Growth of the infant food formula market has also provided an impetus for the increased demand of the product as a major ingredient.
Incorporation of whey protein ingredients in nutritional markets including infant nutrition, sports nutrition and clinical/medical nutrition is identified to be the major drivers for the product’s high sale. Application of whey protein ingredients in commodity markets including animal food and feed have also enhanced the market growth trajectory of the sector to an elevated level. A shift in lifestyle followed by increase in awareness related to merits of functional food and beverage consumption have led to consumers demanding whey protein ingredients to balance their nutritional requirements. However, presence of counterfeit products in the market are the major restraining factor to whey protein ingredients market.
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Latest Industry Updates:
Nov 2017 FrieslandCampina launched their innovation in whey protein hydrolysates at Fi Europe. The product is called ‘Nutri Whey protein ingredients Hydro’. This strategy of new product launch will help in strengthening the company’s dairy protein portfolio.
Nov 2017 Arla Foods launched their range of new whey solutions to add to the RTD market. Rising health consciousness and increased demand for innovative protein products has encouraged them towards the launch of the product.
Jun 2017 Arla Foods Ingredients launched a new whey protein solution which ensures the soft texture of protein ingredients bars in which it is being used. Escalated demand for protein ingredients bars among the consumers of the U.S. has encouraged the company to follow this strategy of new and unique product launch.
March 2017 Burt’s Bees- a company that engages in the production of personal care products has launched plant-based protein ingredients shakes in order to suffice the growing need for protein ingredients products prepared with natural and plant based ingredients.
New players are entering into the sector in order to penetrate the global market and generate revenues out of their whey protein ingredients and whey protein ingredients based product offerings. With the changing global trend, consumers are increasingly getting inclined towards adopting healthy life-style and hence the need for nutritional supplements have increased. Established players are identified to be investing more on product launch and acquisition to strengthen their market position. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product improvisations and investments in the R&D sector to obtain quality products.
The key players profiled in whey protein ingredients market report are Arla Foods (Denmark), Danone (France), Fonterra Co-operative Group Limited (New Zealand), Glanbia Plc. (Republic of Ireland), Hilmar (U.S.), Omega Protein (U.S.), and Davisco Foods International Inc. (U.S.), among many others.
The global whey protein ingredients market has been divided into type, application, and region.
On The Basis Of Type: Whey protein concentrate (WPC), Whey protein Isolate (WPI), hydrolyzed whey protein (HWP), and Others
On The Basis Of Application: Bakery & confectionery, Beverages, Sport nutrition and Others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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The global whey protein ingredients market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global whey protein ingredients market is highly dominated by Europe due to high consumption of milk based protein and awareness about the merits of whey protein consumption. APAC is fastest growing region due to changing lifestyle and improved disposable income in that region. The consumption of whey protein ingredients in countries like Germany, the U.S., India, Brazil and China is expected to grow even more in upcoming years.
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