Canada Whey Protein Ingredients - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Canada Whey Protein Ingredients - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Canada whey protein ingredients market was valued at USD 85.5 million and is projected to register a CAGR of 3.91% over the next five years.

Key Highlights

• Whey proteins in different forms, like isolates, concentrates, and hydrolysates, are in much demand owing to their benefits over regular proteins. Whey proteins are available in their purest form and provide higher protein content than regular protein. The demand for protein-rich products is increasing due to rising sports and fitness trends.
• Consumers are opting for the consumption of whey protein ingredients in the form of powders in different beverages and milk products. Also, whey proteins are used in plant-based alternatives like bacon, sausages, and others. Furthermore, the use of whey protein in baby food and infant food products is increasing as they are easier to digest.
• Growing health consciousness has led to an increased demand for functional beverages and supplements. Consumers nowadays prefer healthy food and fortified food products. As a result of which, the whey protein market is witnessing a surge in the country. Also, the use of whey protein ingredients in sports nutrition products like powders and beverages is increasing due to rising health and wellness trends. Consumers are opting for the consumption of proteins to build muscles and immunity. Over the medium term, the demand for whey protein ingredients is expected to increase owing to its increasing demand in the sports industry and dairy alternatives market.

Canada Whey Protein Ingredients Market Trends

Increasing Demand for Protein-Rich Products

• Consumer demand for protein-rich products is increasing in the country owing to the rising health consciousness. The prevalence of diseases like obesity, heart attack, cholesterol, and others is increasing. Owing to this, the demand for protein-rich products and beverages is increasing. According to StatCan data from 2021, 7.3% of people were diagnosed with diabetes. Whey protein ingredients like isolates and concentrates are being used in different food products like beverages, baby foods, RTE products, and many more.
• Also, the use of whey protein in sports nutrition and beverages is increasing as it helps in muscle building and provides immunity and stamina. Due to increasing obesity issues, consumers are opting for going to fitness centers, which are boosting the demand for protein powders and beverages. The market players are providing whey protein for sports nutrition in the country. For instance, Arla Foods provides whey protein hydrolysate and lacprodan hydro, which is consumed with sparkling water and provides immunity.

Increasing Demand for Whey Protein Dairy and Dairy Products

• The use of whey protein ingredients in dairy and dairy alternative products is increasing owing to the increasing demand for plant-based and vegan dairy alternatives. Consumers are opting for the consumption of lactose-free dairy products like yogurts and other beverages due to ethical and environmental concerns.
• Owing to this, the market players are innovating plant-based whey protein powders. For instance, Biosteel Canada provides a range of 100% plant-based whey protein powders for sports nutrition to be used with milk.
• Furthermore, the market players are incorporating whey proteins in yogurt, yogurt bars, and other dairy products to increase their nutritional content and functionality. The market players provide whey proteins, especially for dairy products. For instance, Fonterra Co-Operative's NZMP brand provides a range of whey protein isolates and concentrates for its use in milk and dairy products.

Canada Whey Protein Ingredients Industry Overview

The Canada whey protein ingredients market is fragmented, with regional and global players dominating the market. The prominent players in the market include Agropur Dairy Cooperative, Glanbia PLC, Groupe Lactalis, Saputo Inc., and Fonterra Cooperative Group Limited. The companies are focusing on product innovations, expansions, partnerships, and acquisitions to expand their product reach and cater to the demand for whey protein ingredients.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support