According to a new report published by Introspective Market Research, “Whey Protein Products Market by Type, Distribution Channel, Application and Region: Global Opportunity Analysis and Industry Forecast, 2024–2032,”
the global whey protein products market size was valued at 8.64 billion in 2023, and is projected to reach 22.66 billion by 2032, registering a CAGR of 11.20% from 2024 to 2032
Whey protein products, extracted from whey, a byproduct of cheese production, are popular dietary supplements. They come in various forms like powders, bars, beverages, and ready-to-drink products.
The rising awareness of healthy living is driving the demand for whey protein, supported by endorsements from fitness and sports clubs. Additionally, the food industry incorporates whey protein into a range of products like baked goods, dairy items, beverages, cereals, chocolates, and baby foods, capitalizing on its antihypertensive and antibacterial properties. As a result, global sales of whey protein are projected to increase significantly.
Whey protein products are valued for their high biological value, meaning they contain all essential amino acids needed by the body and are efficiently absorbed and utilized for protein synthesis. They are also rich in branched-chain amino acids (BCAAs) such as leucine, isoleucine, and valine, which play a crucial role in muscle protein synthesis and recovery.
Functional and fortified foods are driving a trend in the whey protein products market. This trend underscores a rising consumer inclination towards products that provide not just fundamental nutrition but also added health advantages. This shift resonates with consumer desires for comprehensive wellness solutions and convenience, fueling the demand for whey protein products that deliver diverse health benefits beyond mere protein supplementation.
The whey protein products market is evolving towards fortified and functional formulations, emphasizing distinct health advantages. Manufacturers are integrating supplementary ingredients like probiotics, vitamins, minerals, and antioxidants into whey protein products to enrich their nutritional profiles and target diverse health objectives. This transition reflects the increasing consumer preference for convenient and adaptable dietary solutions, as well as products that offer holistic wellness benefits extending beyond simple protein supplementation.
Increased demand for healthier options with individuals prioritize their health, there's an escalating request for products that align with their wellness objectives. Whey protein, recognized for its superior protein content and essential amino acids, is viewed as a valuable dietary addition for muscle development, recuperation, and overall well-being. This heightened recognition fosters a positive atmosphere for whey protein products. The expanding health consciousness isn't confined to athletes or fitness devotees but reaches a wider audience seeking healthier lifestyle alternatives. This encompasses individuals aiming to regulate weight, enhance nutrition, or tackle particular health issues.
Global Whey Protein Products Market, Segmentation
The Whey Protein Products Market Is Segmented on The Basis of Type, Distribution Channel, Applications and Region.
Type:
The type segment is further classified into Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI), Hydrolysed Whey Protein (HWP. Among these, the xx sub-segment accounted for the highest market share in 2023. Whey protein concentrate (WPC) dominates the whey protein product market, favoured by athletes, fitness enthusiasts, and those seeking to boost their protein consumption. Its popularity stems from its cost-effectiveness compared to other forms like isolate, while still providing ample protein content.
Typically containing 70-80% protein alongside some lactose and fat, WPC is versatile for various uses such as protein shakes, smoothies, protein bars, and baking recipes. Its affordability and respectable protein content make it a top choice for many consumers. However, individuals focused on maximizing protein intake while minimizing other macronutrients might prefer forms like whey protein isolate, which boasts a higher protein percentage and fewer carbs and fats.
Application:
The application segment is further classified into Sports and Performance Nutrition, Infant Formula, Functional and Fortified Food, And Beverages. Among these, the Sports and Performance Nutrition sub-segment is anticipated to show the fastest growth by 2032 Whey protein products are widely embraced in sports nutrition for their capacity to stimulate muscle growth, accelerate muscle recovery, and bolster overall athletic prowess.
Athletes and fitness enthusiasts frequently integrate whey protein supplements into their pre- or post-workout routines to fulfil their protein requirements and expedite muscle repair and development. As a complete protein source, whey protein encompasses all essential amino acids necessary for muscle growth and repair. Whey protein products come in various formulations, including whey protein concentrates, isolates, and hydrolysates, each offering different protein concentrations and processing methods.
Region:
The whey protein products market in Asia-Pacific is projected to show the fastest growth by 2032. North America's dominance in the whey protein product market is indeed multifaceted, stemming from its robust fitness and sports nutrition industry, consumer awareness of health and wellness trends, and the widespread availability of whey protein products in various forms. The perceived effectiveness of whey protein in muscle building, weight management, and overall health further fuels its popularity in the region.
The robust manufacturing infrastructure and distribution networks in North America significantly contribute to the accessibility of whey protein products for consumers. Nonetheless, as highlighted, market conditions can fluctuate due to diverse factors, requiring industry participants to continually monitor and adjust strategies to sustain competitiveness.
Some Of the Leading Whey Protein Products Market Players Are
- Hilmar Cheese Company, Inc. (United States)
- AMCO Proteins (United States)
- Davisco Foods International, Inc. (United States)
- Milk Specialties Global (United States)
- Agropur Inc. (Canada)
- Leprino Foods Company (United States)
- Carbery Group (Ireland)
- Lactalis Ingredients (France)
- Grande Cheese Company (United States)
- Erie Foods International, Inc. (United States)
- DMK Group (Germany)
Key Industry Developments
- In Nov 2023, Max Protein, a leading name in the fitness and nutrition industry, introduces its comprehensive range of Protein Powders, including Whey Protein, Plant Protein, and Roti Mix, through its latest campaign, #MadeForOneMore. This campaign showcases the return of the popular 'Protein Police' featuring actor Thakur Anoop Singh on an exciting new mission.
- In Sep 2023, Max Protein's Game-Changing New Launch: Whey, Plant Protein, and Roti Mix Driving Towards Market Dominance.
- In April 2022, Isopure one of US's leading Whey Protein Isolate brands, in the premium lifestyle performance nutrition space will now be manufactured in India in collaboration with Tirupati Lifesciences. This will be the only international production facility of the global brand, outside the US, given the growing demand in India for Isopure.
Key Findings of the Study / Key Industry Developments.
- Whey Protein products are dietary supplements are derived from whey which is the byproduct of milk and milk products used as protein source.
- Functional and fortified foods are indeed creating a trend in the whey protein products market.
- The increasing awareness of healthy lifestyles is increasing the demand for whey protein, with fitness and sports clubs often endorsing protein supplements, thereby attracting customers' interest in whey protein
- North America's dominance in the whey protein product market is indeed multifaceted, stemming from its robust fitness and sports nutrition industry, consumer awareness of health and wellness trends, and the widespread availability of whey protein products in various forms.