The global whey protein market is anticipated to grow at a CAGR of 6.5% during the forecast period. Whey protein is a mixture of beta-lactoglobulin, alpha-lactalbumin, bovine serum albumin, and immunoglobins. The younger generation across the globe is increasingly gaining interest in sports and fitness activities, thereby creating the demand for sports nutrition. Moreover, the sports drinks with whey protein content have been highly adopted by the sportspersons. As per the figures from the 51 National Federation of State High School Associations (NFHS), the number of participants in high school sports in 2017-2018 reached an all-time record high of 7,980,886, which includes the District of Columbia. 

The number of boys participating in high school sports set a new standard at 4,565,580 and the number of girls reached an all-time high of 3,415,306. The rising number of sportspersons is supporting the adoption of whey protein supplements as it enables to increase the performance of the player. A properly planned nutritious diet meets an athlete’s mineral and vitamin needs and offers adequate protein to promote muscle repair and growth. As per the 2019 CRN Survey, protein is among the most popular ingredient in both the classes of sports nutrition and weight management, particularly among males and the 18–34-year age group. The use of protein continues to be higher among males as compared to females. 

The protein use among supplement users (age 18-34) increased from 21% in 2015 to 39% in 2019. Among the age group, 35-54, the use of protein among supplement users increase from 15% in 2015 to 28% in 2019, whereas among people more than 55, it was increased from 7% in 2015 to 17% in 2019. Prevention against allergic conditions in infants, enriched nutrients and proteins, antioxidants defense, and reverse weight loss in people with HIV are the key benefits offered by the whey protein. The rising adoption of whey protein owing to its offered benefits is anticipated to drive the growth of the global whey protein market. However, the high cost of products and side effects associated with it may restrain the growth of the global market.  

Segmentation

The whey protein market is segmented on the basis of product type and application. Based on the product type, the whey protein market is segmented into whey protein concentrate, whey protein isolate, and hydrolyzed whey protein. Based on the application, the market is segmented into sports and performance nutrition, infant formula, and functional/fortified food.

Sports & Performance Nutrition is a considerable segment based on Application

The growing adoption of whey protein products by sportsperson to get sports and performance nutrition is a key factor anticipated to drive the growth of this market segment. Functional/fortified food is anticipated to hold considerable market share during the forecast period. The growing awareness among the population related to the nutritional benefits of whey products is creating demand for healthy food products enriched with whey protein. The rising demand for healthy food products by increasing health-conscious consumers including adults and seniors fitness enthusiasts is making a huge contribution towards the high share of the market segment.

Global Whey Protein Market Share by Application, 2018 (%)

Regional Outlook 

The global whey protein market is further segmented on the basis of geography including North America, Europe, Asia-Pacific, and Rest of the World. North America held the major share in the market in 2018. The high disposable income, high adoption of such products owing to their offered benefits is a key factor contributing to the high share of the market in the region. The US is anticipated to hold a major market share in North America. The presence of major market players in the US that are making continuous efforts to make new products based on whey protein is supporting the dominance of North America in the market. North America is followed by Europe and the Asia Pacific is projected to be the fastest-growing market during the forecast period.

Global Whey Protein Market Growth, by Region 2019-2025

Asia-Pacific will augment with the significant growth rate in the Whey protein market 

The major economies contributing to the regional growth of the market include China, Japan, and India. A significant rise in the adoption of whey protein owing to their offered benefits such as weight loss, and immune-boosting power is boosting the market growth of whey protein in the Asia-Pacific region. The increased adoption of sports nutrition drinks among the young population of India is further anticipated to support the regional market growth.  

Market Players Outlook

The key players of whey protein market include Glanbia plc, Arla Foods Ingredients Group P/S, Agropur Inc., Carbery Group, DMK Group, Titan Biotech Ltd., EUROSERUM, Supley Laboratorio de Alimentos & Suplementos Nutriciona, Hilmar Cheese Company, Maple Island Inc., Saputo Inc., Davisco Foods International Inc., and so on. These market players adopted various organic and inorganic growth strategies such as mergers and acquisitions and product launches in order to expand their share in the market and gain a competitive advantage over other players.  

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global whey protein market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.