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Global Whey Protein Market Share, Price, Report: By Type: Concentrate, Isolate, Hydrolysate; By Application: Sports Nutrition, Dietary Supplements, Infant Formula, Food Additives, Beverages, Others; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Whey Protein Market Outlook
The global whey protein market size reached approximately USD 11.70 billion in 2022. The market is assessed to grow at a CAGR of 8.5% between 2023 and 2028 to attain a value of around USD 19.09 billion by 2028.
Key Trends in the Market
Whey protein refers to a protein supplement that is formed by separating casein from milk or as a by-product of cheese production. It is easily digestible, boasts high nutritional value, can be rapidly absorbed, and contains essential amino acids. Whey protein is extensively used as a nutritional supplement and also finds use in the food and beverage sector.
- There is a growing utilisation of whey protein in the food and beverage sector due to its excellent functional and nutritional properties and its application as a foaming agent, texture enhancer, as well as thickening and gelling agent. Moreover, the whey protein market demand is being fuelled by the rising demand for protein-rich and clean-labelled food and beverages made using natural products like whey.
- The rising health consciousness and the growing inclination towards fitness are some prominent whey protein market trends. Whey protein is widely preferred as a sports supplement for promoting muscle recovery, supporting weight management, improving athletic performance, and enhancing muscle strength. Moreover, the rising awareness regarding the health benefits offered by the product such as improved immunity and heart health and reduced risk of diseases like diabetes is anticipated to fuel the market growth in the forecast period.
- The increasing demand for organic products amid the rising health and environmental consciousness is also aiding the whey protein market growth. Organic whey protein that is sourced from pasture-raised grass-fed cows and is free of added sugar, preservatives, GMOs, and hormones is increasingly gaining popularity among health-conscious individuals.
Market Analysis
Based on type, the whey protein market segmentation includes concentrate, isolate, and hydrolysate. On the basis of application, the market can be divided into sports nutrition, dietary supplement, infant formula, food additives, and beverages, among others.
By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, speciality stores, and online stores, among others. The major regional markets for whey protein include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global whey protein market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Glanbia plc
- Arla Foods amba
- Fonterra Co-Operative Group Limited
- Lactalis Ingredients
- Olam International Limited
- Royal FrieslandCampina NV
- Hilmar Cheese Company, Inc.
- Agropur Cooperative
- Saputo Inc.
- Leprino Foods Company
- Wheyco GmbH
- Others
Market Share by Type
As per the whey protein market analysis, whey protein concentrate is anticipated to witness a high demand in the forecast period. It has a protein concentration of 70-80%, contains carbohydrates in the form of lactose, and is more affordable than other types of whey protein. The product is also known to regulate lipid and insulin profiles, boost immune health, and manage cholesterol levels, among others.
Besides, whey protein concentrates enjoy substantial popularity among athletes to gain muscle mass as they facilitate muscle synthesis.
Market Share by Application
Sports nutrition represents a significant whey protein market share as whey protein can support the development and maintenance of muscle mass, improve athletic performance, reduce body fat, and surge lean body mass. Key players are also offering whey protein in different flavours and formats that can be incorporated into different foods such as smoothies, yoghurt, and nutrition bars.
Meanwhile, the demand for whey protein in beverages is likely to increase due to their ease of digestibility, excellent nutritional profile, and neutral flavour. In the forecast period, the growing demand for functional and healthy ready-to-drink beverages that can provide nutrition on-the-go is anticipated to fuel the whey protein market demand.
Competitive Landscape
Glanbia plc is a prominent nutrition company that provides lifestyle and sports nutrition products. Headquartered in Kilkenny, Ireland, the company’s ingredients are used in beverages, food, and clinical nutritional products. It is one of the leading producers of whey protein isolates, American-style cheddar cheese, and premix solutions.
Olam International Limited, established in 1989, is an agriculture and food company, with its headquarters in Singapore. Its value chain ranges from farming to distribution, and it is one of the prominent global suppliers of feed, ingredients, food, and fibre. Through its innovative offerings and R&D activities, the company aims to sustainably address challenges posed by the rising global population.
Arla Foods amba is a prominent dairy cooperative that is owned by over 125,000 farmers from the Netherlands, Denmark, the United Kingdom, Belgium, Luxembourg, Germany, and Sweden. The company offers dairy products that are made from high-quality ingredients and sustainable methods. Some of its well-known brands are Castello®, Lurpak®, and Arla®, among others.
Other whey protein market players include Fonterra Co-Operative Group Limited, Lactalis Ingredients, Royal FrieslandCampina NV, Hilmar Cheese Company, Inc., Agropur Cooperative, Saputo Inc., Leprino Foods Company, and Wheyco GmbH, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Whey Protein Market Analysis
8.1 Key Industry Highlights
8.2 Global Whey Protein Historical Market (2018-2022)
8.3 Global Whey Protein Market Forecast (2023-2028)
8.4 Global Whey Protein Market by Type
8.4.1 Concentrate
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Isolate
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Hydrolysate
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global Whey Protein Market by Application
8.5.1 Sports Nutrition
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Dietary Supplements
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Infant Formula
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Food Additives
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Beverages
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Whey Protein Market by Distribution Channel
8.6.1 Supermarkets and Hypermarkets
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Convenience Stores
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Speciality Stores
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Online Stores
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Whey Protein Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Whey Protein Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Whey Protein Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Whey Protein Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Whey Protein Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Whey Protein Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Glanbia plc
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Arla Foods amba
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Fonterra Co-Operative Group Limited
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Lactalis Ingredients
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Olam International Limited
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Royal FrieslandCampina NV
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Hilmar Cheese Company, Inc.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Agropur Cooperative
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Saputo Inc.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Leprino Foods Company
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Wheyco GmbH
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Whey Protein Market: Key Industry Highlights, 2018 and 2028
2. Global Whey Protein Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Whey Protein Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Whey Protein Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Whey Protein Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Whey Protein Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
7. Global Whey Protein Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
8. Global Whey Protein Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Whey Protein Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Whey Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Whey Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Whey Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Whey Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Whey Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Whey Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Whey Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Whey Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Whey Protein Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Whey Protein Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Whey Protein Market Structure
Key Questions Answered in the Report
In 2022, the market attained a value of nearly USD 11.70 billion.
The market is assessed to grow at a CAGR of 8.5% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 19.09 billion by 2028.
The major market drivers are the increasing health consciousness, growing utilisation of whey protein in the food and beverage sector, and the surging preference for protein-rich and clean-labelled food.
The surging demand for organic whey protein and the rising consumption of whey protein by athletes to gain muscle mass are the key trends guiding the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of whey protein are concentrate, isolate, and hydrolysate.
The significant applications of the product are sports nutrition, dietary supplement, infant formula, food additives, and beverages, among others.
The major players in the market are Glanbia plc, Arla Foods amba, Fonterra Co-Operative Group Limited, Lactalis Ingredients, Olam International Limited, Royal FrieslandCampina NV, Hilmar Cheese Company, Inc., Agropur Cooperative, Saputo Inc., Leprino Foods Company, and Wheyco GmbH, among others.
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