Whey Protein Ingredients Market to Expand at a CAGR of 9.2% from 2016 to 2022
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Whey protein ingredients are globular proteins isolated from whey-the liquid material obtained as a byproduct of cheese production. Consumers are embracing these ingredients for high protein content as compared to soy, egg, and other milk-based proteins. Whey proteins are consumed globally as dietary supplements owing to various health claims associated with them. For instance, whey protein is generally used to improve lipid profile glucose levels and insulin response, thereby promoting arterial stiffness and a reduction in blood pressure. Moreover, whey protein concentration is regulated by the addition of denatured powder to provide balanced nutrition for the infants. In addition, these ingredients reduce hepatic cholesterol levels among the elderly. Growth in popularity of whey supplements among youngsters and emergence of whey protein-based pediatric milk formulations coupled with advancements in production technologies are some of the key factors that drive the market growth.
Top Investment Pockets
Sports nutrition and bakery & confectionery segments offer the maximum market potential in the global whey protein ingredients market, owing to rapid urbanization and favorable macroeconomic factors. Increase in demand for protein supplements such as sports drinks and protein shakes among athletes coupled with use of whey proteins in the production of bakery and confectionery products such as muffins, cakes, and toffees are some factors that drive the demand for whey protein ingredients across the globe. Moreover, Japan and China have witnessed major consumption of whey proteins, owing to increase in number of health clubs and fitness centers. This acts as central distribution centers for whey protein products for bodybuilders, athletes, and recreational users. The sports nutrition and bakery & confectionery segment is expected to register a significant CAGR during the forecast period. Furthermore, use of whey protein ingredients in medicine and dairy products is on an increase, thereby fueling the market.
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The global whey protein ingredients market is segmented on the basis of type, application, and geography. Based on type, the market is classified into whey protein concentrate, whey protein isolate, hydrolyzed whey protein, and demineralized whey protein. The whey protein concentrate segment dominated the global market in 2014, and is anticipated to maintain its dominance throughout the forecast period. The whey protein concentrate segment is projected to grow at a significant CAGR of 9.3% during the forecast period.
The global whey protein ingredients market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a considerable whey protein ingredients market share of the total revenue in 2015, followed by Europe and Asia-Pacific. Developing economies in Asia-Pacific region such as Korea, China, and India are anticipated to witness a significant growth rate owing to increase in consumption of sports nutrition and whey protein-based beverages and confectionery products. In addition, increase in investments by pharmaceutical giants in R&D on the use of ingredients for specific medicinal formulations is another key element that fuels the growth of the market.
The major companies profiled in the report include Arla Foods, Cargill Incorporation, Hilmar Cheese Company, Fonterra Co-Operative Group Ltd, Carberry food ingredients, Glanbia plc, Davisco Food International, Maple Island Incorporation, Dairy Farmers of America, and Milk Specialities Global.
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Key Findings of the Whey Protein Ingredients Market Study:
In terms of volume, the sports nutrition segment is projected to show highest growth rate of 8.0% during the analysis period.
North-America is projected to maintain its lead throughout 2022, and is projected to grow at a CAGR of 6.8%, in terms of volume.
Bakery and confectionery application segment occupied approximately one-sixth of the total market in 2015.
China occupied for around one-third of the total Asia-Pacific whey protein ingredients market in 2015.
In terms of value, Japan is expected to grow at a CAGR of 8.6% from 2016 to 2022.
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