Whey protein is extracted from milk and obtained via milk curdling. It is used in various dietary supplements and functional foods and beverages for its nutritional content. The global whey protein ingredients market report by Market Research Future (MRFR) covers the production methods, volume and value analysis, and outlines a comprehensive review of drivers, challenges, trends, and opportunities for the period of 2017 to 2023 (forecast period).
The global whey protein ingredients market is expected to exhibit a CAGR of 8.9% over the forecast period. Benefits of whey protein which can aid in weight loss, lower cholesterol levels, and assistance in treatment of cancer, asthma, and blood pressure & cardiovascular disease are the primary driver of the market. Studies published in international journals highlighting its uses have also supported its consumption. This can drive the demand of whey protein exponentially till 2023.
The high awareness among the masses regarding the health benefits of whey protein can be fruitful for the market in the coming years. This has been buttressed by the burgeoning sports nutrition market and rising awareness of health. Nutraceuticals and functional food sectors can also heavily influence global market demand in the coming years. Increase in dairy production and encouragement of value-added products can facilitate the growth of the global whey protein ingredients market.
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Wacker Chemie AG, Cargill Inc., Associated British Foods plc, Omega Protein Corporation, Davisco Foods International, Inc., Archer Daniels Midland Company, Arla Foods amba, Fonterra Co-operative Group Ltd., Hilmar Cheese Company, Inc., and Carbery Food Ingredients Ltd. are major players of the global whey protein ingredients market. Mergers and acquisitions are major strategies implemented by players to continue sustain their foothold in the market.
The global whey protein ingredients market is segmented into type and application.
On the basis of the type, it is segmented into demineralized whey protein, whey protein isolate, whey protein concentrate, hydrolyzed whey protein, and others. Among all, the hydrolyzed whey protein segment is dominating the market followed by whey protein concentrate. This can be credited to the rise of lactose intolerance among consumers.
On the basis of the application, the whey protein ingredients market is segmented into sports nutrition, dairy and frozen desserts, snacks, bakery and confectionary, meat products, beverages, and others. The sports nutrition segment is dominating the market due to increasing demand for functional food products among the athletics. Endorsements by athletes and online fitness enthusiasts have encouraged the consumption of these beverages, inducing a massive demand for whey protein ingredients.
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The global whey protein ingredients market is segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is anticipated to lead the global whey protein ingredients market owing to need for muscle supplements in the U.S. and Canada. Focus on flavor and flavor stability of whey protein concentrates and whey protein isolates to extend its shelf life has sparked research and development efforts in the region.
The APAC whey protein ingredients market is set to thrive owing to the prescription of whey supplements by doctors as well as a rise in the consumption of sports supplements. The traction gained by functional foods and beverages as well as the rise in health-conscious citizens can drive up the demand for whey protein supplements.
Europe is expected to contribute greatly to the global whey protein ingredients market demand due to the abolition of milk quota and the push for whey-based protein supplements. The growth of functional foods, clinical nutrition, sports supplements, and infant formulas can positively impact the global whey protein ingredients market demand.
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