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Whey Protein Market

Whey Protein Market

Global Industry Analysis (2018 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Food & Beverage | Author Name: Sonal

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Surveys and Studies Indicating Benefits Boost Global Whey Protein Market

One of the two proteins found in milk, whey is a common supplement to build muscle mass amongst gymgoers and health-conscious millennials. In a study of 158 individuals published in Nutrition & Metabolism magazine, those who consumed whey protein were more likely to have lost body fat and gained lean muscle than those that did not. There have even been promising initial results on its ability to treat cancer. Whey protein can lower ‘bad cholesterol’ (LDL) levels and improve the immunity of asthmatics along with those suffering from hypertension, heart disease, and HIV. The global whey protein market should grow at a robust rate as urban lifestyles compel organizations to incorporate whey protein in packaged foods to substitute butter, cheese, and cream without tampering with the original ingredients.

Consumer Demand for Improved Sports Nutrition Puts Spotlight on Whey Protein

Sports nutrition is vital component of global whey protein market. Nutritionists/athletes are looking at ways to combine the best of plant-based and animal-based proteins to achieve top notch fitness. As this trend amplifies, the demand for whey protein in combination with chia seed protein, pumpkin seeds, sunflower seeds for the optimal balance of amino acids is expected to soar.

Sports nutrition supplements, typically enhanced with whey protein, are now purchased by a wider consumer base in forms such as ready-to-drink (RTD) and grab-and-go protein bars. Growing number of marathon runners, weightlifters, triathletes, and CrossFit athletes are expected to fuel the consumption of these packaged protein options to suit their own requirements.

Whey protein is likely to find its way to functional beverages that aid uninterrupted sleep, which is essential to fitness. Thus, manufacturers are expected to focus on combining whey protein with flavours such as chamomile to entice consumers. Similarly, whey protein enriched L-theanine and melatonin supplements are expected to set a trend.

Need for Muscle Protein Synthesis amongst Geriatric Aids Sales of Whey Protein in Medical Beverages

The food and beverage segment dominates the whey protein market and this is unlikely to end anytime soon. Whey protein is preferred in the industry for its emulsifying, foaming, and thickening properties increasing the nutritional value, solubility, water-binding, and gelation ability of foodstuffs.

In 2019, Arlo Foods released amba – a medical beverage for customers seeking low-volume nutrition. Whey protein is well-suited for geriatric patients that require trauma recovery along with those aiming to maintain shrinking muscle mass. Whey protein triggers muscle protein synthesis (MPS) to support illness recovery, prevent malnutrition and enhance health.

The loss of muscle mass makes geriatric more prone to metabolic disease, joint dislocations, and bone fractures and medical beverages infused with whey protein avert this. The use of whey protein in medical beverages allows older individuals to live a healthier, accident-free lifestyle and competitors would do well in following the example set by Arlo Foods.

Ideal Blend of Taste and Nutrition Make Whey Protein Concentrate Key Ingredient in High Protein Beverages

The three types of whey protein are whey protein isolate (WPI), whey protein hydrolysate (WPH), and whey protein concentrate (WPC). Currently, the WPC segment accounts for almost half of the whey protein market. Whey protein concentrate drinks are highly nutritious beverages fortified with lutein for improving ocular health and guarana to boost energy. WPC is an all-natural ingredient and can be marketed as such for its application in various yoghurts, beverages, desserts, soups, salads, and baked goods. WPC does not compromise the taste of foodstuffs and studies have indicated that consumers are willing to pay a premium for a satisfying sensory experience. The WPC segment will find application in fortification of infant formula as it lends gelling properties when heated or dissolved in water, making it convenient for feeding.

High protein drinks that target sports recovery are an important trend in the food and beverages segment of the global whey protein market. Gymgoers and athletes could have different reasons for consuming whey protein. While some seek to gain strength, others might wish to build their endurance and get better overall results from their workouts. High protein drinks even benefit those who do not exercise regularly by improving insulin response and immune function. The demand for whey protein drinks is driven by factors such as a greater public attention on health, environmental sustainability, and the emergence of functional dairy protein. Companies are even moving functional beverages beyond the traditional classification of “protein shake”. All of this should benefit demand for whey protein.

WPH’s demonstrate hypertensive, antioxidant, antimicrobial, and prebiotic properties making them ideal for clinical or sports nutrition products. WPH is used in a number of low-fat foods and protein beverages as it has received approval from the U.S. Food & Drug Administration as an effective protein supplement. However, WPH is considerably more expensive than either WPC or WPI, forcing manufacturers to add minimal quantities of WPH to their products to keep costs down.

Desire to Look Younger Fuels Demand for Whey Protein in the Cosmetics Segment

Closely following the food and beverage segment in the whey protein market is the personal care and cosmetics segment. Whey protein heightens the body’s production of elastin and collagen making skin plumper and tackling slackness. It irons out wrinkles, rehydrates skin, and plays a key role in the de-ageing process. The advantages of incorporating whey protein in cosmetics include greater viscosity, decreased greasiness caused by oils, soothing irritated skin, superior pigment dispersion, better adhesion of sunscreens or skin powders, and addition of natural proteins to hair and skin.

Experts believe that whey protein gels at higher temperatures than that obtained from hair dyes aiding styling efforts by fashion-conscious individuals. A large volume of wave sets, conditioners, shampoos, hair dyes, and body and face moisturizers are made from whey protein. Hydrolysed whey protein, in tandem with other ingredients is a critical component of skincare routines as it acts as a whitening agent. It is anticipated that the advantages of whey protein such as its hair conditioning, skin hydrating, and skin conditioning abilities will spur demand for whey protein in different cosmetic products unveiled by major manufacturers.

Successive Sporting Events in East Asia Coupled With Government Initiatives Make Asia Pacific Vital From Bottom Line Perspective

According to an article in the Institute of Food Technologists, approx. half of U.S. consumers stated that high protein content was pivotal in their food purchase decisions - primarily to tackle obesity. As per the Center for Disease Control, 42% of the U.S. population was obese in 2018. The U.S. Census Bureau states that 25% of the population will be over 65 by 2060. The dual whammy of obesity and old age will necessitate staying healthy through proper fitness and diet. U.S whey suppliers can serve the market by developing soft foods such as easily digestible protein rich jellies or puddings. The Pew Research Center states that geriatric are most likely to live alone in the U.S. and could be served by small portions of whey protein in their food that do not require elaborate cooking techniques.

In terms of revenue, the largest region in the whey protein market is predicted to be Asia Pacific with China leading by some distance. Data from the Australian Bureau of Statistics demonstrated that whey protein milk powder exports to China tripled in March 2020 compared to February. Nearly 100 Chinese brands have partnered with manufacturers in Australia and New Zealand to produce whey protein for the Chinese market.

China has a massive sports nutrition market due to its population and ecommerce sales comprise the vast majority of sports nutrition products sold there. The hosting of the Olympics in South Korea, Japan, and China in 2018, 2021 and 2022 are fuelling demand for competitive excellence. Throughout the region, there has been an emphasis on exercise with government initiatives such as China’s National Fitness Plan. A study conducted by Glanbia Nutritional states that nearly 3/4th of Chinese consumers between the age of 20 to 49 drink sports beverages with convenience making them opt for RTD options in the whey protein market.

In Europe, Ireland occupies a prominent place in the whey protein market. Ireland is home to Glanbia Nutritional – one of the largest companies in the whey protein market. There has been rapid growth in the Ireland whey protein market as both domestic and international brands target this strategic nation. According to the Irish Food Board, 2/5th of males between 16-34 consumed sports nutrition products of some kind with the average spend per month matching that in the U.K. Sports nutrition products are now widely available in supermarkets such as Tesco, Lidl, and Aldi. While whey protein is more known than alternative forms such as hemp, algae, and pea protein, there is still a need to raise awareness levels about whey protein and seminars such as Food Ingredients Europe and the International Whey Conference help in no small part.

Mergers and Acquisitions Fuelling Growth Among Companies in Whey Protein Market

Companies in the global whey protein market have entered into agreements with milk producers to guarantee raw material and prevent bottlenecks in supply chain. A characteristic of the global whey protein market is the reliance on inorganic growth as M&A are the best way to enter international markets.

In 2019, Saputo purchased Dairy Crest, a British dairy product manufacturer, to bolster its international presence. In the same year, Glanbia plc. reported a decline in whey protein sales due to supply constraints in Europe, tariffs in India, economic slowdowns in South America, and a complex product line. The Irish conglomerate was negatively impacted by COVID-19 as lockdowns closed gyms and restaurants worldwide. The company attributes the fall in demand to brutal competition in the whey protein market.

Rivals in the global whey protein market profiled in this report are Hilmar Cheese Company, Inc., Milkaut SA, Olam International, Arla Foods, Alpavit, Milk Specialties, Fonterra Co-operative Group Ltd, LACTALIS Ingredients, Davisco Foods International, Inc., Leprino Foods Company, Maple Island Inc. Carbery Group, and Wheyco GmbH.

Key Elements Included In The Study: Global Whey Protein Market

  • Whey Protein Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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