Whey Protein Market: Current Analysis and Forecast (2022-2028)

A whey is basically the liquid remaining after milk has been strained and curdled. In recent years, the demand mainly increases due to the increasing use of whey protein in sports nutrition and weight management products including bars, powders, and beverages, and an increasing variety of fitness centers suggesting protein powder supplements are giving a boost to sales throughout the projected period. For instance, In September 2022, with the introduction of a range of new products in India, the health supplement brand Dyet Nutrition announced the extension of its product line. Dyed Nutrition introduced whey protein concentrates in chocolate and vanilla flavors, supported by a robust R&D process.

The whey protein market is expected to grow at a steady rate of around 9% owing to the increasing number of fitness centers recommending protein supplements. Major companies in the market offer whey protein for sports and nutrition applications with advanced features. For instance, In April 2021, Anihac Pharma launched its gainer whey protein nutritional supplement in chocolate flavor in India. The company basically focuses on fitness buddies and sports persons by offering them different products serving the purpose of bodybuilding.

Based on product type, the market is segmented into whey protein concentrate (WPC), whey protein isolate (WPI) and whey protein hydrolysate (WPH). Whey protein concentrate (WPC) market category is to witness higher CAGR during the forecast period owing to the consumer preferences for incorporating proteins in regular foods, as well as rising demand for high-protein and low-fat weight management products.

Based on application, the whey protein market is segmented into sports and performance nutrition, infant formula, and food & beverages. The food and beverage application segment dominated the whey protein market in 2021. This is due to rising use of whey protein in bakery, confectionery, dairy and other food products as it helps to emulsify and thicken items. For instance, Havero Hoogwegt B.V. a leading manufacturer of whey protein partnered with First Milk in order to expand its products more towards the food and beverages sector and to increase its whey operations in Europe.

For a better understanding of the market adoption of the whey protein market, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is due to the increasing awareness of healthy lifestyles and high disposable income levels among the people in the region. The region has a large population with a high rate of obesity and lifestyle-related diseases due to the unhealthy lifestyle, high disposable income, and accessibility to several processed and ready-to-eat items that are not particularly beneficial for consumer well-being. All these factors have led to a boost in demand for whey protein in the region. For instance, according to the World health organization (WHO), around 39 million children under the age of 5 were overweight or obese in 2020.

Some of the major players operating in the market include: Hilmar Cheese Company, Inc., Saputo Inc., Glanbia plc, Fonterra Co-operative Group Ltd., Arla Foods amba, Alpavit, Wheyco GmbH, Carbery Group, Sanofi S.A, Maple island inc, MilKaut SA.