Whey Protein Market
Growth Factors of Whey Protein Market
The whey protein market size was valued at USD 11.79 billion in 2023, and the market is now projected to grow from USD 22.64 billion in 2024 to USD 22.63 billion by 2032, exhibiting a CAGR of 35.96% during the forecast period of 2023-2032.
The COVID-19 pandemic posed significant challenges on the whey protein market growth. Due to lack of industrial operations and a halt in production and supply chain, implementation of government policies, and other initiatives due to covid pandemic., which lead a decline in the whey protein market expansion. The lockdown has forced people to stay at their homes and limited their outing or sports activities which affected the market growth significantly. Lockdown enacted in numerous nations have hindered the manufacturing and caused transportation delays. In addition, worldwide restrictions have caused a halt in economic activities. Despite the challenges of covid pandemic, the battery plate sector has proven to be robust. Although the construction of electric vehicle has been delayed due to shortage of man power and procurement concerns of raw material.
Rising interest in high-protein diets among consumers is one of the major driving factor promoting market growth during projected period. The past few years have seen a notable increase in the consumption of diets high in protein because of a global shift in consumer awareness towards health. Because of their increasingly hectic lives, consumers are unable to routinely consume a full diet rich in nutrients, which leads them to look for nutrients in packaged food products. As a result, producers of packaged food reinforce their goods with wholesome components, such as protein.
Expansion of high-end products in the personal care sector to promote whey protein market growth. The market for whey protein components in personal care and cosmetics applications is predicted to grow faster due to consumers' growing preference for high-end personal care products made with herbal and natural ingredients. In addition, the market for cosmetics and personal hygiene has shown encouraging growth recently. Growing brand awareness and rising disposable money have encouraged important personal care and cosmetics manufacturers to expand globally.
Comprehensive Analysis of Whey Protein Market
The whey protein market and food and beverages industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the food and beverages benefit management industry. These segmentations are methodically segregated by types and by application. The types segmentation includes, Isolates, Concentrates, Others while Application segmentation include Food and Beverages, Animal Feed, and others.
The North America region lead the whey protein market by benefitting a market size of USD 4.24 billion in 2023 due to robust healthcare infrastructure and rising health awareness and rising concern about protein intake among population and changing consumers preferences or tastes.
The top players in the market play a crucial role in the food and beverages industry assuring industrial prospectus growth and setting market standards. These players include, Fonterra Co-operative Group Ltd. (New Zealand), Saputo Inc. (Canada), Hilmar Cheese Company, Inc. (U.S.), Glanbia plc (Ireland), Arla Foods (Denmark), Alpavit (Germany), Wheyco GmbH (Germany), Milk Specialties (U.S.), Carbery Group (Ireland) and LACTALIS Ingredients (France) these market players provide a level-playing competitive landscape.
In November 2023, Nutri Whey ProHeat was introduced by top international protein supplier FrieslandCampina Ingredients. The company has introduced a novel heat-stable, microparticulated ingredient specifically for the medical nutrition sector.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 7.5% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
- Isolates
- Concentrates
- Others
By Application
- Food and Beverages
- Animal Feed
- Others
By Geography
- North America (By Type, Application, and Country)
- U.S. (By Application)
- Canada (By Application)
- Mexico (By Application)
- Europe (By Type, Application, and Country)
- Germany (By Application)
- U.K. (By Application)
- Russia (By Application)
- France (By Application)
- Italy (By Application)
- Rest of Europe (By Application)
- Asia Pacific (By Type, Application, and Country)
- China (By Application)
- India (By Application)
- Australia (By Application)
- Japan (By Application)
- Rest of Asia Pacific (By Application)
- South America (By Type, Application, and Country)
- Brazil (By Application)
- Argentina (By Application)
- Rest of South America (By Application)
- Middle East and Africa (By Type, Application, and Country)
- South Africa (By Application)
- UAE (By Application)
- Rest of ME&A (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Emerging Trends
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Industry SWOT Analysis
- 4.3. Supply Chain and Regulatory Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Impact of COVID-19 on the Market
- 5. Global Whey Protein Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Type
- 5.2.1.1. Concentrate
- 5.2.1.2. Isolate
- 5.2.1.3. Others
- 5.2.2. By Application
- 5.2.2.1. Food & Beverages
- 5.2.2.2. Animal Feed
- 5.2.2.3. Others
- 5.2.3. By Region
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Whey Protein Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Type
- 6.2.1.1. Concentrate
- 6.2.1.2. Isolate
- 6.2.1.3. Others
- 6.2.2. By Application
- 6.2.2.1. Food & Beverages
- 6.2.2.2. Animal Feed
- 6.2.2.3. Others
- 6.2.2.4. Beverages
- 6.2.2.5. Others
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S.
- 6.2.3.1.1. By Application
- 6.2.3.1.1.1. Food & Beverages
- 6.2.3.1.1.2. Animal Feed
- 6.2.3.1.1.3. Others
- 6.2.3.2. Canada
- 6.2.3.2.1. By Application
- 6.2.3.2.1.1. Food & Beverages
- 6.2.3.2.1.2. Animal Feed
- 6.2.3.2.1.3. Others
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Application
- 6.2.3.3.1.1. Food & Beverages
- 6.2.3.3.1.2. Animal Feed
- 6.2.3.3.1.3. Others
- 7. Europe Whey Protein Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Type
- 7.2.1.1. Concentrate
- 7.2.1.2. Isolate
- 7.2.1.3. Others
- 7.2.2. By Application
- 7.2.2.1. Food & Beverages
- 7.2.2.2. Animal Feed
- 7.2.2.3. Others
- 7.2.3. By Country (Value)
- 7.2.3.1. Germany
- 7.2.3.1.1. By Application
- 7.2.3.1.1.1. Food & Beverages
- 7.2.3.1.1.2. Animal Feed
- 7.2.3.1.1.3. Others
- 7.2.3.2. France
- 7.2.3.2.1. By Application
- 7.2.3.2.1.1. Food & Beverages
- 7.2.3.2.1.2. Animal Feed
- 7.2.3.2.1.3. Others
- 7.2.3.3. Italy
- 7.2.3.3.1. By Application
- 7.2.3.3.1.1. Food & Beverages
- 7.2.3.3.1.2. Animal Feed
- 7.2.3.3.1.3. Others
- 8.
- 8.1.
- 8.1.1.
- 8.1.1.1. U.K.
- 8.1.1.1.1. By Application
- 8.1.1.1.1.1. Food & Beverages
- 8.1.1.1.1.2. Animal Feed
- 8.1.1.1.1.3. Others
- 8.1.1.2. Spain
- 8.1.1.2.1. By Application
- 8.1.1.2.1.1. Food & Beverages
- 8.1.1.2.1.2. Animal Feed
- 8.1.1.2.1.3. Others
- 8.1.1.3. Rest of Europe
- 8.1.1.3.1. By Application
- 8.1.1.3.1.1. Food & Beverages
- 8.1.1.3.1.2. Animal Feed
- 8.1.1.3.1.3. Others
- 9. Asia Pacific Whey Protein Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Type
- 9.2.1.1. Concentrate
- 9.2.1.2. Isolate
- 9.2.1.3. Others
- 9.2.2. By Application
- 9.2.2.1. Food & Beverages
- 9.2.2.2. Animal Feed
- 9.2.2.3. Others
- 9.2.3. By Country (Value)
- 9.2.3.1. China
- 9.2.3.1.1. By Application
- 9.2.3.1.1.1. Food & Beverages
- 9.2.3.1.1.2. Animal Feed
- 9.2.3.1.1.3. Others
- 9.2.3.2. India
- 9.2.3.2.1. By Application
- 9.2.3.2.1.1. Food & Beverages
- 9.2.3.2.1.2. Animal Feed
- 9.2.3.2.1.3. Others
- 9.2.3.3. Japan
- 9.2.3.3.1. By Application
- 9.2.3.3.1.1. Food & Beverages
- 9.2.3.3.1.2. Animal Feed
- 9.2.3.3.1.3. Others
- 9.2.3.4. Australia
- 9.2.3.4.1. By Application
- 9.2.3.4.1.1. Food & Beverages
- 9.2.3.4.1.2. Animal Feed
- 9.2.3.4.1.3. Others
- 9.2.3.5. Rest of Asia Pacific
- 9.2.3.5.1. By Application
- 9.2.3.5.1.1. Food & Beverages
- 9.2.3.5.1.2. Animal Feed
- 9.2.3.5.1.3. Others
- 10. South America Whey Protein Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Type
- 10.2.1.1. Concentrate
- 10.2.1.2. Isolate
- 10.2.1.3. Others
- 10.2.2. By Application
- 10.2.2.1. Food & Beverages
- 10.2.2.2. Animal Feed
- 10.2.2.3. Others
- 10.2.3. By Country (Value)
- 10.2.3.1. Brazil
- 10.2.3.1.1. By Application
- 10.2.3.1.1.1. Food & Beverages
- 10.2.3.1.1.2. Animal Feed
- 10.2.3.1.1.3. Others
- 10.2.3.2. Argentina
- 10.2.3.2.1. By Application
- 10.2.3.2.1.1. Food & Beverages
- 10.2.3.2.1.2. Animal Feed
- 10.2.3.2.1.3. Others
- 10.2.3.3. Rest of South America
- 10.2.3.3.1. By Application
- 10.2.3.3.1.1. Food & Beverages
- 10.2.3.3.1.2. Animal Feed
- 10.2.3.3.1.3. Others
- 11. Middle East & Africa Whey Protein Market Analysis, Insights and Forecast, 2019-2032
- 11.1. Key Findings / Summary
- 11.2. Market Size Estimates and Forecast
- 11.2.1. By Type
- 11.2.1.1. Concentrate
- 11.2.1.2. Isolate
- 11.2.1.3. Others
- 11.2.2. By Application
- 11.2.2.1. Food & Beverages
- 11.2.2.2. Animal Feed
- 11.2.2.3. Others
- 11.2.3. By Country (Value)
- 11.2.3.1. South Africa
- 11.2.3.1.1. By Application
- 11.2.3.1.1.1. Food & Beverages
- 11.2.3.1.1.2. Animal Feed
- 11.2.3.1.1.3. Others
- 11.2.3.2. UAE
- 11.2.3.2.1. By Application
- 11.2.3.2.1.1. Food & Beverages
- 11.2.3.2.1.2. Animal Feed
- 11.2.3.2.1.3. Others
- 11.2.3.3. Rest of Middle East & Africa
- 11.2.3.3.1. By Application
- 11.2.3.3.1.1. Food & Beverages
- 11.2.3.3.1.2. Animal Feed
- 11.2.3.3.1.3. Others
- 12. Competitive Matrix
- 12.1. Business Strategies Adopted by Leading Players
- 12.2. Global Whey Protein Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 13. Company Profiles
- 13.1. Hilmar Cheese Company, Inc.
- 13.1.1. Overview
- 13.1.2. Description
- 13.1.3. Product Portfolio
- 13.1.4. Financials (Data as available in public domain and/or on paid databases)
- 13.1.5. Recent Developments
- 13.2. Milkaut SA
- 13.2.1. Overview
- 13.2.2. Description
- 13.2.3. Product Portfolio
- 13.2.4. Financials (Data as available in public domain and/or on paid databases)
- 13.2.5. Recent Developments
- 13.3. Leprino Foods Company
- 13.3.1. Overview
- 13.3.2. Description
- 13.3.3. Product Portfolio
- 13.3.4. Financials (Data as available in public domain and/or on paid databases)
- 13.3.5. Recent Developments
- 13.4. Davisco Foods International, Inc
- 13.4.1. Overview
- 13.4.2. Description
- 13.4.3. Product Portfolio
- 13.4.4. Financials (Data as available in public domain and/or on paid databases)
- 13.4.5. Recent Developments
- 13.5. Olam International
- 13.5.1. Overview
- 13.5.2. Description
- 13.5.3. Product Portfolio
- 13.5.4. Financials (Data as available in public domain and/or on paid databases)
- 13.5.5. Recent Developments
- 13.6. LACTALIS Ingredients
- 13.6.1. Overview
- 13.6.2. Description
- 13.6.3. Product Portfolio
- 13.6.4. Financials (Data as available in public domain and/or on paid databases)
- 13.6.5. Recent Developments
- 13.7. Carbery Group
- 13.7.1. Overview
- 13.7.2. Description
- 13.7.3. Product Portfolio
- 13.7.4. Financials (Data as available in public domain and/or on paid databases)
- 13.7.5. Recent Developments
- 13.8. Milk Specialties
- 13.8.1. Overview
- 13.8.2. Description
- 13.8.3. Product Portfolio
- 13.8.4. Financials (Data as available in public domain and/or on paid databases)
- 13.8.5. Recent Developments
- 13.9. Wheyco GmbH
- 13.9.1. Overview
- 13.9.2. Description
- 13.9.3. Product Portfolio
- 13.9.4. Financials (Data as available in public domain and/or on paid databases)
- 13.9.5. Recent Developments
- 13.10. Saputo Inc
- 13.10.1. Overview
- 13.10.2. Description
- 13.10.3. Product Portfolio
- 13.10.4. Financials (Data as available in public domain and/or on paid databases)
- 13.10.5. Recent Developments
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