Press release
Whey Protein Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Whey Protein Market
Tremendous change in lifestyles, rising awareness of health, surge in consumption of sports nutrition products, bakery and confectionery products is witnessed to expand the growth of global whey protein market. Furthermore, the rise in demand for dairy products, growing concerns regarding fitness among consumers, increase in the market for pediatric foods are expected to boost the growth of global whey protein market. Additionally, growing trends of ready to drink and ready to cook foods, demand for geriatric dietary supplements, and rise in awareness of personal care, beauty consciousness, and bodybuilding are expected to propel the growth of whey protein market. On the other hand, high manufacturing costs and high price of whey protein, stringent regulatory framework for marketing of whey proteins and lack of awareness regarding the benefits of whey protein are restrains of the whey protein market.
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The Whey Protein Market is classified on the basis of type, application, and geographical regions.
Based on type, Global Whey Protein Market is segmented as
• Whey Protein Concentrate
• Hydrolysed Whey Protein
• Whey Protein Isolate
Based on application, Global Whey Protein Market is segmented as
• Confectionary and Bakery
• Nutraceuticals
• Dairy Products
• Instant Formula
• Dietary Supplements
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Global whey protein market is expected to gain traction due to its wide range of benefits like diet supplement, anti-cancer capacity, fat loss, immune booster, stress reducer. Owing to the high scope of benefits, U.S. FDA has regulated the usage of whey protein to 2g per day. Whey protein market is expected to expand at robust CAGR due to consumer inclination towards fitness and increase in health clubs, fitness and health awareness campaigns etc. As per the report, Racquet and Sports Club Association, from 2009 to 2012, the number of health clubs and fitness has been increased from 128,500 to 153,000. Market players are focused on new product developments, strategic collaborations in order to strengthen the presence in whey protein market. For instance, in September 2017, Glanbia Nutritionals, launched ProTherma hydrolyzed whey protein hot ready to mix powdered beverage. In May 2017, DreamPak, LLC launched ProPump whey protein isolate liquid concentrate. In 2014, Agropur a Canadian dairy cooperative acquired Davisco Food International.
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Global Whey Protein Market is segmented as Latin America, North America, Asia-Pacific, The Middle East & Africa and Europe. North America whey protein market is accounted for largest revenue share in market owing to rise in production of whey protein, increase in awareness of health concerns among the consumers and inclination towards the protein diet intake. Moreover, rapid growth in healthcare industries and growing health and fitness consciousness among people are vital driving forces of whey protein market in European countries. Furthermore, rise in per capita income, increase in awareness regarding protein-rich diet, an adaptation of nutritious dietary intake among the consumers, rise in inclination towards health and fitness activities and diet are the factors which are expected to propel the growth in Asia Pacific, especially in India, China, New Zealand, Korea and Australia.
Some of the players in Whey Protein Market Cargill Incorporation (U.S), Arla Foods (Denmark), Hilmar Cheese Company (U.S), Carbery food ingredients (Ireland), Fonterra Co-Operative Group Ltd (New Zealand), Glanbia plc (Ireland), Agropur (Canada), Dairy Farmers of America (U.S), Milk Specialities Global (U.S)and Maple Island Incorporation (U.S).
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