With a group of market player such as Arla Foods, American Dairy Products Institute, DMK Group, Agropur MSI, Westland Milk Products, and Glanbia Plc, the global whey protein market is claimed to boost in the forecast period and years to come.
According to the analysts at Zion Market Research, the global whey protein market in 2015 added for USD 8.2 Billion and is anticipated to cross USD 12.4 Billion by end of 2021, developing at a CAGR of almost 7.2% from 2016 to 2021.
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Rise In The Percentage Of Elderly Population To Drive The Global Whey Protein Market
The global whey protein market was likely to see the utmost growth in the years to come owning to rise in the percentage of elderly population all over the world. In addition to this, the increment in trend of the fitness center and health club is likely to boost the global whey protein market in the years to come. Moreover, the keen interest of teens towards nutrition as well as sports will potentially elevate the requirement for global whey protein market. Besides this, carrying fish or chicken is not handy in comparison to whey protein drink, which is handier. In addition to this various mergers by leading players also boosts the global whey protein market. For example, in February 2018, Leeds-located Arla Foods declared that it was to purchase Yeo Valley Dairies, a branch of the Yeo Valley Group, in a multi-million-pound agreement to increase the former’s business. This in returned boosted the global whey protein market.
Rising Number Of Geriatric Population To Boost The Global Whey Protein Market In Europe In The Years To Come
Geography-wise, Europe in 2015 was the biggest market for global whey protein market based on income owing to the rising number of geriatric population and accessibility of fitness club. In addition to this, global whey protein market has a huge chance in up-and-coming market such as Latin America and Asia Pacific owing to the increase disposable income and rise in awareness in the years to come. Besides this, these areas have an established user base due to the following of western culture towards healthcare as well as technological advancements. Asia Pacific is a potential market and is likely to unlock gateways for makers of whey protein in the years to come boosting the global whey protein market.
Dietary Supplement To Continue Its Dominance Over Global Whey Protein Market In Years To Come
In application section, dietary supplement rules the global whey protein market. Worldwide, 60% of whey protein market has been covered owing to dietary supplements section. This development is majorly due to the attendance of purchasing behavior of users paired with keen interest of fitness in the teens. Clinical and pharmaceutical nutrition sections are likely to undergo noteworthy development in the years to come period owing to lack of protein in developing nations. To overtake the issue of protein deficiency, medicated protein approved by healthcare consultant Y nutritionist are used. Based on type, global whey protein market is classified bifurcated into WPI (Whey Protein Isolate), WPC (Whey Protein Concentrate), and HWP (Hydrolyzed Whey Protein). Based on revenue, WPC added for 27% of global whey protein market. Besides this, WPC is low in protein and high in lactose. This impacts the users purchasing behavior towards HWP and WPI.
The global whey protein market is segmented as follows:
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