Whey Protein Powder Market Explored in the Latest Research by Top Players Agropur Ingredients, Arla Foods Ingredients, Carbery Group

The whey protein powder market was valued at US$ 10,252.9 million in 2018 and is expected to grow at a CAGR of 6.2%from 2019 to 2027 to reach US$ 17,522.4 million by 2027.

Over the last decade, the rising health-conscious customers across the globe has created lucrative opportunities for the whey protein powder manufacturers. Consumers are looking for ways in adopting a healthy and an active lifestyle, which has boosted the demand for health-oriented food products. Thus, protein supplement bears the same kind of traction in Europe, North America, and APAC. Healthy lifestyle is becoming a normal way of life due to concerns majorly over food sensitivity and obesity, as well arise in diseases. Consumers spending on various protein and associated supplements has boosted the market growth over the past few years. Moreover, rising disposable income and improving financial stability are also creating lucrative opportunities for the manufacturers. People are anticipated to spend on these products due to rise in obesity concerns and healthcare awareness, as well as the ability to spend on various items such as protein bars and other supplements.

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APAC is expected to grow at the highest CAGR of 6.9% during the forecast period owing to the overall growth of the economy, growing population, increasing awareness on nutritional food, changing demographics in terms of consumer life style, and booming food and beverage industry. India and China are the leading countries in APAC owing to the increasing population. Improved lifestyle and growing economy are some of the other key dynamics contributing to the growth of the whey protein market. Moreover, the quest for dairy-based protein foodstuff is increasing rapidly in APAC owing to the growing awareness of its nutritional profile. The demand for protein ingredients in regions has transformed significantly in terms of nutritional value and quality with increasing expenditure on nutritional food products due to rising income levels. Owing to the trend of sports and fitness, the demand for supplement products has also witnessed a northward trend in the region over the past few years. The demand for dairy protein supplements has also seen an upsurge in countries such as India, Malaysia, and Indonesia. The food &beverages industry is one of the fastest-growing segments among the other application segments.

Effect of COVID-19 on Whey Protein Powder Market
COVID-19 outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, Republic of Korea, France, Germany, and the US are among the worst affected countries in terms confirmed cases and reported deaths. The outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food processing industry is one of the major industries that is suffering serious disruptions such as factories shutdown, supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.

Strategic Insights
Mergers and acquisition and research and development are commonly adopted by companies to expand their footprints worldwide, which is further impacting the size of the market. The players present in the whey protein powder market such as Carbery Group, Lactalis Ingredients, and Milk Specialties have been implementing the mergers and acquisition and research and development strategies to enlarge the customer base and gain significant market share across the world, which also permits the players to maintain their brand name globally.

Report Spotlights

o Progressive industry trends in the global whey protein powder market to help players develop effective long-term strategies
o Business growth strategies adopted by developed and developing markets
o Quantitative analysis of the global whey protein powder market from 2017 to 2027
o Estimation of global whey protein powder demand across various industries
o PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
o Recent developments to understand the competitive market scenario and global whey protein powder demand
o Market trends and outlook coupled with factors driving and restraining the growth of the global whey protein powder market
o Decision-making process by understanding strategies that underpin commercial interest with regard to global whey protein powder market growth
o Global whey protein powder market size at various nodes of market
o Detailed overview and segmentation of the global whey protein powder market, as well as its dynamics in the industry
o Global whey protein powder market size in various regions with promising growth opportunities

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This release was published on openPR.