According to Future Market Insights (FMI), the global whey protein market is anticipated to reach US$ 9.4 billion in 2022. Increased demand for sports nutrition products will propel the market forward at a 9.8% CAGR, with a market value of US$ 18.4 billion by 2032.
Whey protein demand is predicted to continue to rise due to increased understanding of balanced diets and increased protein consumption for mass gain, strength gain, and weight loss around the world.
Furthermore, the increased prevalence of chronic disease as a result of changing lifestyles, particularly among millennials, is driving the use of whey protein in nutrition and medicinal goods.
In addition, rising health consciousness and rising demand for sports nutritional supplements are likely to enhance the market in the future years.
More Insights Can Be Found Here
Future Market Insights presents an unbiased study of the global whey protein market in its latest report, which includes historical data (2017-2021) and future statistics for the forecast period of 2022-2032. The study provides compelling insights based on product type (Whey Protein Isolates, Whey Protein Concentrates, Whey Protein Hydrolysates), application (Nutritional Supplements, Personal Care, Food & Beverages, Animal Feed & Pet Food), distribution channel (B2B and B2C), and application (Bakery and Confectionery, Extruded Products, Beverages, Animal Feed, Dairy Products, Other Applications) across seven major global regions.
Competitive Environment
Due to the presence of multiple major and small manufacturers competing on price and quality, the global whey protein market is moderately fragmented. Arla Foods announced Lacprodan Hydro, a novel whey protein ingredient for healthy aging, in June 2020. Lacprodan Hydro has been clinically proved to reduce age-related muscle mass reduction.
Carbery will release Optipep 4Power, a fresh hydrolyzed whey protein, in October 2020. It was created with high-intensity, long-duration workouts in mind.
Key Takeaways:
- Demand for whey protein isolated is expected to stay high over the assessment period, depending on the product type.
- Nutritional and medicinal applications will continue to gain traction through 2032.
- The top two regions, Europe and North America account for more than 60% of the total market share.
- During the projection period, India, Mexico, and the United Kingdom will emerge as lucrative whey protein markets.
