Whey Protein Market Worth to reach $12.61 billion by 2023 | Leading Key Players are Agropur MSI, DMK Group, Arla Foods, Hilmar Cheese Company, Glanbia, American Dairy Products Institute, Davisco Foods International, Milk Specialties Global, and Maple Isla

Whey Protein Market Overview:

Whey Protein is widely used in industries like healthcare, personal care, food, nutritional, feed, and pharmaceutical industry. Growing popularity of whey protein is due to its advantages like stress reduction, diet support, improvement of the immune system, cancer-fighting capacity and mass gain and fat loss.

Whey protein provides various anabolic benefits such as increased muscle growth and muscle protein synthesis which supports the sports nutrition sector. Whey protein is efficiently and effectively replacing milk in various food products including infant nutritional food, weight-management supplements, and nutritional beverages.

Whey Protein Market Size:

According to Market Data Forecast, The Global Whey Protein Market was worth $8.95 billion in 2018 and estimated to be growing at a CAGR of 7.1%, to reach $12.61 billion by 2023.

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The market for whey protein is mainly driven by its widespread application in various product sectors such as functional foods, bakery, confectionery, dairy, ice cream and other sectors. Other factors driving the market are rising disposable incomes, increasing health-conscious consumers and number of health clubs and fitness centers. High manufacturing cost associated with whey protein is restraining the market growth.

Market Segmentation:

The Global Whey Protein market is segmented based on type into Whey protein concentrate (WPC), Whey protein isolate and Whey protein hydrolysate. WPC, which is high in lactose and low in protein, leads the market with the highest number of shares. It is mainly used in the production of nutritional supplements and protein beverages. Based on application, the market is segmented into Dairy, Bakery, Dietary supplements, Confectionery, Pharmaceuticals and Instant formula. Dietary supplements sector is the largest segment and expected to remain the same in the forecast period.

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Geographical Analysis:

Based on geography the market is analyzed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America has the largest market share for whey protein products, which is closely followed by Europe. Asia-Pacific is the fast-growing whey protein ingredients market due to the increasing number of health-conscious consumers and rising disposable income.

Market Key Players:

• Agropur MSI
• DMK Group
• Arla Foods
• Hilmar Cheese Company
• Glanbia
• American Dairy Products Institute
• Davisco Foods International
• Milk Specialties Global
• Maple Island

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Reasons to Purchase Whey Protein Market Report:

• Current and future Whey Protein Market Outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel

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This release was published on openPR.