"Market Intelligence that Adds Flavour to Your Success"
The global whey protein market size was USD 10.26 billion in 2021. The market is projected to grow from USD 11.0 billion in 2022 to USD 18.12 billion by 2029, exhibiting a CAGR of 7.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a higher growth of 7.07% in 2020 as compared to 2019.
The global market is projected to be driven by the ascending product demand due to increasing consumer awareness regarding a healthy diet and leading an active lifestyle. In addition, growing innovation in manufacturing proteins that possess a broad range of amino acids and perform distinct functions, including weight loss, energy balance, muscle repair, and satiety by different manufacturers is expected to make immense market potential.
Supply Chain Disruptions amid COVID-19 to Hamper Performance
The outbreak of COVID-19 since the beginning of 2020 has severely hit the market, which led to disruption in the supply chain. The whey protein market growth is quickly reaching its pre-COVID-19 levels. A healthy growth rate is anticipated over the coming years, driven by the V-shaped recovery in most emerging countries. Effective strategies of companies operating in the market are identified as showcasing their contactless manufacturing and delivery methods, highlighting USP statements, and improving product presence on online and e-commerce platforms. Moreover, consumers are now more inclined to fill the gap in protein substitute products. The sales of immunity-related ingredients have surged globally. These trends have spurred the demand for protein-based products as protein is one of the most vital constituents that aids in building immunity.
Request a Free sample to learn more about this report.
Growth of Premium Products Across Personal Care Industry to Facilitate Industry Growth
Increasing consumer inclination for premium personal care based on herbal and natural ingredients is expected to accelerate the demand for whey protein ingredients in personal care & cosmetics applications. Furthermore, the personal care & cosmetics market has experienced a promising trend in the recent past. The skincare products market has witnessed an upsurge in demand, especially facial care products. The demand for premium and high-end personal care and cosmetics product is likely to rise over the forecast period. Growing hygiene awareness and beauty consciousness among consumers was the key trend witnessed in the personal care & cosmetics industry. Increasing expenditure on high-quality products among urban consumers has bolstered the demand in the personal care industry in the past few years. Rising disposable income coupled with mounting brand awareness has motivated the critical producers of personal care & cosmetics products to strengthen their global presence.
Growing Consumer Preference of High Protein Diet to Propel Market Growth
The consumption of protein-rich diets has remarkably increased over the past few years due to rising health awareness among consumers worldwide. With increasingly busier lifestyles, consumers cannot consume a nutritionally rich complete diet regularly, which prompts them to seek nutrients from packaged food products. Therefore, packaged food manufacturers fortify food products with nutritious ingredients, including protein ingredients. Growing incidences of chronic illnesses owing to altering lifestyles and increasing fitness trends, especially among the millennial population, are the critical factors driving the adoption of protein-rich diets. Furthermore, child malnutrition is a prevalent issue in African countries, primarily caused by protein deficiency. Therefore, higher emphasis on a protein-rich diet is being given in African countries, which, in turn, is expected to drive the demand for protein-rich ingredients such as soy, pea, and canola.
Increasing Demand for Sports Nutrition Supplements to Fuel Industry Development
Sports nutrition involves the consumption of nutrients such as vitamins, proteins, supplements, fats, carbohydrates, minerals, and organic substances. Sports nutritional products consist of sports beverages, sports supplements, and sports foods targeted at the strength and endurance of athletes and bodybuilders to increase their overall performance, enhance stamina, promote muscle growth, and improve health. Protein consumption is a critical component in overall sports nutrition. Protein is predominantly consumed in pre-workout and post-workout diets and is mainly aimed at muscle building, endurance support, and weight gain. Athletes, sports persons majorly consume protein in the form of powder, and gym enthusiasts owing to its ease of transportation and handling; long shelf life; highly concentrated form; and convenience of mixing with beverages such as water and milk.
Rising Demand for Plant-Based Protein to Hinder Market Growth
The global demand for plant proteins is being driven by ascending product demand owing to growing consumer awareness about consuming a healthy diet and leading an active lifestyle. In addition, rising innovations in the manufacturing of proteins that contain a broad range of amino acids and perform specific functions, including energy balance, weight loss, muscle repair, and satiety, by various manufacturers, is creating the immense market potential for plant proteins. Thus, it is directly substituting animal protein products, thus hindering the growth of the protein market. Plant-based proteins, such as soy, pea, wheat, rice, algae, and hemp, among others, have been generating considerable traction in the past few years. Growing demand for clean-label food and cosmetics products, coupled with the growing vegan population in European countries, primarily due to environmental and health reasons, is mainly driving the demand for plant-based proteins. The vegan population especially opts for products fortified with plant-based proteins to fulfill their protein requirements, thereby eliminating animal proteins such as whey.
To know how our report can help streamline your business, Speak to Analyst
Concentrates Sector to hold Significant Whey Protein Market Share due to Growing Utilization in Varied Food Applications
Whey protein concentrates are a group of proteins that remain soluble in the whey after the precipitation of casein at pH 4.6 and temperature 20°C. These concentrates are a heterogeneous collection of dissimilar proteins and contain lipids, lactose, and minerals. Whey is mainly the water-like substance obtained during cheese production and is referred to as sweet whey. Whey protein concentrates are used in multiple applications, including manufacturing beverages, dairy desserts, and yogurt products.
Moreover, these concentrates are employed as a source of protein fortification for nutritional and infant food products. Whey protein concentrates exhibit gelling property when dissolved in water and heated. This property is highly beneficial for meat-based food applications.
Food and Beverage Sector to hold Largest Market Share due to Wide Product Utility in Varied Applications
Whey proteins are increasingly being incorporated into various food & beverage applications such as dairy, bakery, energy drinks, and confectionery products, owing to their health benefits. The food & beverage industry consists of a wide product portfolio. The food industry comprises food additives, consumer food, nutraceutical supplements, animal feed, alcoholic drinks, aerated drinks, non-alcoholic drinks, and juices or health drinks. Therefore, the growing demand for whey protein products due to their several properties, including their ability to act as a stabilizing agent, flavor enhancer, and emulsifying salt in the food & beverage sector is anticipated to stimulate the market over the forecast period.
North America Whey Protein Market Size, 2021 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
North America to Exhibit Highest Market Share on Account of Rising Awareness Regarding Consumption of Nutritional Products
Growing health awareness coupled with rising consumer concerns regarding daily protein intake is anticipated to surge the demand for whey protein powders in North America. Protein powders' convenience and easy usability for creating protein shakes or blending them with several food products to suit changing consumer tastes and preferences are anticipated to surge the product demand.
The Europe market is expected to show a reasonable growth over the forecast period due to several factors such as rising emphasis on healthy living, increasing trend of preventive health care, and growing demand for protein supplements from the U.K., Germany, and France. Increasing the use of protein products in synthetic and naturally derived personal care products is expected to positively influence its market in the next few years. In addition, the growing number of food processing industries in the country has led to large imports of animal proteins, particularly whey type of protein in the past few years. The trend is anticipated to continue over the projected period.
Asia Pacific is expected to register the fastest growth due to increasing exports and domestic demand for dairy-based protein ingredients such as casein and whey. The rising geriatric population and continually changing climate conditions in emerging countries, such as Australia and India, have raised concerns for skin problems, which are expected to drive personal care product demand and likely augment the market growth over the forecast period.
To know how our report can help streamline your business, Speak to Analyst
The growing personal care industry in Central & South America is expected to force FMCG companies to increase their production capacity. Thus, increasing production of personal care products in Central & South America is anticipated to motivate the growth of the protein market over the next few years.
Companies Focus on Expanding their Production Capacity to Meet Global Demand
The whey protein market is consolidated due to limited number of established and regional market players. Key players in the market include Hilmar Cheese Company, Inc., Saputo Inc., Glanbia plc, Fonterra Co-operative Group Ltd, Arla foods, Apavit, Wheyco GmbH, Milk Specialties, Carbery Group, LACTALIS, Olam International Ltd, Davisco, Milkaut, Leprino Food Country, and Maple Island Inc. These players are focusing to increase their production capacity to meet the global demand.
An Infographic Representation of Whey Protein Market
To get information on various segments, share your queries with us
The global market report provides qualitative and quantitative insights into the market. It also offers a detailed analysis of the market size and growth rate for all possible segments in the market. Various key insights presented in the report are an overview of related markets, recent industry developments, such as mergers & acquisitions, the regulatory scenario in critical countries, and key market trends.
Value (USD Billion)
Fortune Business Insights says that the global market size was USD 10.26 billion in 2021 and is projected to reach USD 18.12 billion by 2029.
The market is projected to grow at a CAGR of 7.4% during the forecast period.
The food and beverages segment is expected to be the leading segment based on type in the global market during the forecast period.
Increasing preference of high protein diet drives the market growth.
Saputo Inc., Glanbia plc, Fonterra Co-operative Group Ltd, Arla Foods, Apavit, Wheyco GmbH, Milk Specialties, and Carbery Group are the leading players in the market.
North America dominated the market in terms of share in 2021.
Based on type, the concentrates segment is set to lead the global market.
The growth of premium products across the personal care industry is expected to meet the global demand.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry