Whey Protein (Powder and Concentrate) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Whey Protein (Powder and Concentrate) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global whey protein (powder and concentrate) market size reached US$ 5.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

Whey protein is derived from whey, a watery portion of milk that separates from the curds during cheese production. It boosts muscle mass, maintains blood sugar levels, promotes weight loss, reduces inflammation, and helps in the treatment of diabetes. As it aids in improving athletic performance and boosting strength, whey protein is gaining traction among athletes and sports enthusiasts around the world.

Whey Protein Market Trends:

The expanding purchasing power and the increasing adoption of a healthy and nutritious diet are among the major factors positively influencing the demand for whey protein worldwide. In addition, it is widely used in the preparation of shakes, muffins, cupcakes, smoothies, pancakes, coffee, and spreads, which are served across commercial food outlets. This, in confluence with the burgeoning food and beverage (F&B) industry, is contributing to the market growth. Moreover, the rising awareness about the health benefits of consuming whey protein and the growing health consciousness among the masses are driving the market. Furthermore, as it is utilized in the manufacturing of baby food and infant formula, increasing concerns of parents about the balanced nutrition of their children are creating a positive outlook for the market. Besides this, the rising consumption of dietary supplements in daily routine for maintaining overall health is favoring the market growth. Apart from this, product manufacturers are introducing novel variants in innovative flavors like coconut, caramel, chocolate, cranberry, and coffee to expand their product portfolio. They are also focusing on providing whey protein-based beverages and bakery products through online retail channels. This, in confluence with the thriving e-commerce industry, is offering lucrative growth opportunities to industry investors.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global whey protein (powder and concentrate) market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

Whey Protein Concentrate
Whey Protein Isolate
Whey Protein Hydrolysates

Whey protein concentrate exhibits a clear dominance in the market as it is rich in branched chain amino acids (BCAA’s) and offers a higher percentage of lactose, which assists in gaining muscle mass

Breakup by Application:

Food and Beverages
Nutrition Products and Pharmaceuticals
Feed Applications
Others

Nutrition products and pharmaceuticals dominate the market as they help meet the nutritional requirements of individuals.

Regional Insights:

European Union
North America
Oceania
Eastern Europe
Latin America
Others

European Union holds the majority of the global whey protein market share due to the growing health consciousness among the masses.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are

Arla Foods
Agropur Inc.
Hilmar Cheese Company, Inc.
Glanbia Plc
Kerry Group Plc
Milk Specialties Global
Leprino Foods Company
Carbery
Grande Cheese Company
Lactalis Group

This report provides a deep insight into the global whey protein industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a whey protein manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the whey protein industry in any manner.

Key Questions Answered in This Report

1. What was the size of the global whey protein (powder and concentrate) market in 2022?
2. What is the expected growth rate of the global whey protein (powder and concentrate) market during 2023-2028?
3. What are the key factors driving the global whey protein (powder and concentrate) market?
4. What has been the impact of COVID-19 on the global whey protein (powder and concentrate) market?
5. What is the breakup of the global whey protein (powder and concentrate) market based on the type?
6. What is the breakup of the global whey protein (powder and concentrate) market based on the application?
7. What are the key regions in the global whey protein (powder and concentrate) market?
8. Who are the key players/companies in the global whey protein (powder and concentrate) market?