The global whey protein market is poised for remarkable growth, with a projected valuation of US$11.2 billion by the end of 2030, according to a recent industry report. The market, which generated approximately US$5.3 billion in revenue in 2021, is anticipated to surge at a Compound Annual Growth Rate (CAGR) of 8.6% during the forecast period.
The rising popularity of specialty sports nutrition products, coupled with the increasing demand for convenient health and fitness solutions, is driving the sales of whey protein products. The proliferation of fitness clubs and health centers worldwide is contributing to the markets robust growth, as more individuals recognize the benefits of incorporating whey protein into their dietary regimens.
Whey protein, known for its effectiveness in muscle protein synthesis, lean muscle mass development, weight management, and cholesterol reduction, has found favor among health-conscious consumers. Whey protein snacks, in particular, have gained traction, further boosting the markets size.
Key Report Findings:
- Whey protein concentrates dominate the market, commanding over 40% of the market share.
- Dry whey protein remains a sought-after product, accounting for more than 90% of total demand.
- Nutritional supplement manufacturers are expected to drive maximum demand.
- North America leads the market, followed closely by Europe.
- Prominent brands in the whey protein industry include Axiom Foods Inc, Ingredion Incorporated, DuPont, A&B Ingredients, Glanbia plc, and Fenchem.
Growth Drivers:
- Increasing Entry of Innovative Lineups in Sports Nutrition
- Manufacturers are focusing on innovation to meet the diverse benefits of whey protein, including enhanced strength, muscle growth, recovery, and appetite suppression.
- Dairy proteins, such as whey, continue to play a pivotal role in creating products that resonate with fitness enthusiasts.
- Mounting Uptake of Whey Protein Hydrolysate in Sports Nutrition
- Whey protein hydrolysates are gaining popularity due to their quick absorption by the body, making them highly sought-after in the sports nutrition market.
- Rise in Number of Health-conscious Consumers
- Health-conscious consumers are increasingly incorporating whey powder into their diets, driven by a proactive approach to nutrition.
Overview of Key Segments:
- Whey protein concentrates account for more than 41% of the market, known for their low-carb, low-fat profile, and high protein content.
- Whey protein hydrolysates, easily digestible pre-digested proteins, hold over a fourth share in the market.
- Whey protein isolates, characterized by high protein content, also contribute significantly to the market.
Growth Challenges:
- Nutrition safety standards vary by country, posing challenges for the global sports nutrition industry.
- Unauthorized selling and counterfeit products hinder the development of the sports nutrition market, impacting nutrition safety standards.
Growth Opportunities Across Regions:
- Asia Pacific is expected to be a significant market, driven by continuous product launches and the demand for nutraceuticals.
- Europes market dynamics have been influenced by events such as BREXIT, resulting in varying nutrition safety standards.
- North America leads the global whey protein market with over 30% market revenue share.
Global Whey Protein Market: Competitive Landscape:
The global whey protein market is characterized by intense competition, with numerous local and international manufacturers vying for market share. Many industry players are pursuing acquisitions and mergers to strengthen their positions in this competitive market.
Global Whey Protein Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030 (By Type Coverage, By Application Coverage, By Form Coverage, By Geographic Coverage and By Company) https://www.fairfieldmarketresearch.com/report/whey-protein-market
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COMTEX_440937571/2840/2023-09-25T23:08:26