According to the current analysis of Reports and Data, the global Whey Protein Market was valued at USD 9,552.5 Million in 2020 and is expected to reach USD 19.75 Billion by the year 2028, at a CAGR of 5.4%. Whey protein is a soluble component of milk that is rich in amino acids, minerals, vitamins, lactose, and glycomacropeptides. The most important functional characteristic of this product is that it can solve in a wide range of pH. Since it has unique characteristics, it is used widely in the food industry for the preparation vary types of cheeses and industrial bread. Studies have shown that whey protein plays an important role in improving public health and body strength. Also, there have been studies about the beneficial effects of whey protein on human health and the prevention of metabolic disease, which shows positive results. For instance, research published in 2019 upon the efficacy of whey protein supplements on athletes supported the fact that WPS acted as an ergogenic aid on the athletes’ sports performance and recovery.
The major driving factors for this market are the rising demand for sports nutrition and the increasing consumption of protein formulation among infants. According to a report by the American Society for Nutrition, most healthy infants shift from a protein intake of approximately 1 g/kg body weight to an intake that is, on average, 3-4 times as high and formula-fed infants grow at a faster rate than breast milk-fed infants. Thus, with the increasing population and disposable income, people are bound to buy such formulations to maintain protein intake in infancy. Moreover, the rapid expansion of the food industry plays a major role in driving market growth. For instance, the U.S. market for fast food restaurants generates more than USD 200 billion currently and is anticipated to have a growth rate of about 2.5%.
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Advancements in extraction and filtration techniques of whey protein are anticipated to be increasingly in focus, to ensure as little loss as possible of its valuable nutrients during the forecast period. Native whey protein is a crucial aspect of this effort, which doesn’t involve cheese-making process but is produced directly from milk with far less processing. This industry is also likely to see further investment being applied to cutting down the number of processing steps, primarily in the filtration process, and to develop processes and equipment that will enable producers to avoid high processing temperatures wherever possible. This will not only make various extractions more economical but will also reduce the environmental footprint of processing of this ingredient, as less amount of energy is required.
Europe is expected to be one of the prominent regions during the forecast period for this industry. The European Union is also one of the dominant regions for the production of lactose. About 40% of WPC 50-89 produced in the EU is estimated to have protein concentrations of less than 80%. Moreover, the production of Demineralized Whey Powder (DWP) has been growing strongly in the region, out of which the European Union supplies more than 75% globally. Growth in production of these ingredients has been largely demand-driven in Europe, mainly by the infant formula sector with DWP 90 in particular that is being used in these products. On the other hand, production of low-end WPCs is rather stagnant from a global perspective. New production comes on stream in emerging processing regions, whereas the traditional whey processing regions generally convert production into higher value-adding.
Further key findings from the report suggest
- Today, most people are affected by Type 2 diabetes, and it is one of the growing health problems globally. It is a major concern for teenagers and children. Healthy and wholesome nutrition practices may play a role in helping and managing type-2 diabetes. In this case, whey protein is the high biological, high quality, and value protein, which is a good choice for people who have diabetes. Whey protein helps to control the blood glucose levels and also provides additional benefits for weight management which are a concern for type-2 diabetics
- The supply of whey is mainly driven by cheese production, which accounts for approximately 95% of the world’s liquid whey and is forecasted to grow by approx. 2% annually. The remaining 5% of whey production stems from casein production, which is rather stagnant. Demand for whey ingredients, however, has been growing much faster, at approx. 4-5% on average across all whey and lactose ingredients, while the most dynamic ingredients have grown by approximately 10% annually. Both nutritional markets such as infant nutrition, sports nutrition, and clinical/medical nutrition and commodity markets such as food and animal feed, are driving this development.
- Key participants include Hilmar cheese Company, Davisco Food International Inc., Saputo Inc., Maple Island Inc., Alpavit, Milkaut SA, Wheyco GmBH, Fonterra Corporative Group Ltd., Glanbia, and Milk Specialities Global among others.
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For the purpose of this report, Reports and Data has segmented the Whey protein market on the basis of type, form, distribution channel, application, and region:
Type (Revenue, USD Billion; 2018–2028)
- Whey Protein Concentrate
- Whey Protein Concentrate 35 (WPC 35)
- Whey Protein Concentrate 50-79 (WPC 50-79)
- Whey Protein Concentrate 80 (WPC 80)
- Whey Protein Isolate
- Hydrolyzed Whey Protein
- Demineralized Whey Protein
Form (Revenue, USD Billion; 2018–2028)
Distribution Channel (Revenue, USD Billion; 2018–2028)
- Hypermarkets and Supermarkets
- Drugstores and Pharmacies
- Specialty Stores
Application (Revenue, USD Billion; 2018–2028)
- Food and Beverages
- Infant Formula
- Dairy Products
- Confectionery and Bakery Product
- Frozen Food
- Nutrition Products
- Dietary Supplements
- Sports Nutrition
- Personal care
- Feed Applications
Regional Outlook (Revenue in USD Million; 2018–2028)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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