Whey protein ingredients are referred to as globular proteins which are extracted from whey, a liquid obtained as a derivative of cheese. Consumers are preferring whey protein ingredients due to their high protein content as compared to egg, soy and other dairy products. Whey proteins are widely consumed in the form of nutritional supplements owing to various health benefits related with them. For instance, whey proteins are widely used to improve lipid glucose levels and insulin response, thus stimulating reduction in arterial stiffness and blood pressure. Moreover, whey protein ingredients are also used with denatured powder to deliver balanced infant nutrition. Also, whey protein ingredients reduce hepatic cholesterol levels especially among the geriatric population. Thus, growth in demand for whey protein supplements across youngsters coupled with emergence of whey protein-based infant nutrition formulations as well as advancements in production techniques are some of the major aspects driving the market growth.

Increasing health awareness and rising number of health conscious consumers, rising per capita disposable incomes, rising number of gyms and fitness centers are some of the key aspects driving the growth of global whey protein ingredients market. Also, all the consumer groups such as athletes, bodybuilders and recreational users, fitness centers and health clubs act as central distribution centers for whey protein supplements. With the increasing number of health clubs across the globe, several opportunities are expected to emerge for whey protein manufacturers over the forecast period.

However, high costs of whey protein coupled with rising competition from plant based proteins are some major factors hampering the growth of the global whey protein ingredients market.

By type, whey protein concentrates 80 (WPC80) accounts for the major share of the global whey protein ingredients market. The market is witnessing growth on account of increasing number of working women and rising preference towards whey protein based infant formula. Moreover, owing to increasing health consciousness among consumers as well as rising per capita disposable incomes, the demand for whey protein is anticipated to witness a rapid surge over the forecast period.

Asia Pacific is projected to be the most attractive market on account of rising demand for whey protein ingredients from dietary supplements and infant nutrition. The market for whey protein ingredients in North America is driven by the increasing number of health clubs and rising trend towards bodybuilding especially among the young population.

Whey protein concentrates 80 was the most dominant segment in the global whey protein ingredients market in 2020 and is projected to maintain its dominance throughout the forecast period from 2021 to 2029. This is due to high demand for pure grades of whey protein ingredients especially from pharmaceutical and sports nutrition applications. Increasing demand for WPC 80 in several specialized applications such as infant nutrition, sports beverages and medical formulations is projected to drive the market over the forecast period. WPC 80 is obtained after the removal of non-protein ingredients present in the sweet whey and contains 80% pure protein. Additionally, owing to high content of amino acids as well as rising demand from sports nutrition application is accelerating the demand for WPC 80 since it is beneficial in growing muscle size while reducing fat loss. It is derived through several techniques such as ultrafiltration, diafiltration, ion-exchange and electrodialysis and can be used in concentrated, fluid and dry form. Various characteristic properties of WPC 80 such as solubility, gelation and water binding are driving the demand for WPC 80 in several end use applications. Whey protein isolates accounted for the second largest share in the global market owing to increasing applications of protein in the preparation of packaged meat, dairy and pharmaceutical products. Furthermore, rising demand for whey proteins especially from middle class population group in developing economies of the Asia Pacific region is projected to bolster the overall demand over the forecast period.

By application, sports nutrition accounted for the largest share in the global whey protein ingredients market in 2020 and projected to maintain its dominance throughout the forecast period. The market is primarily driven by the high water binding characteristic of whey proteins and high efficiency in building muscle mass. Whey protein ingredients are widely used in protein powders, bodybuilding supplements, pre workout shakes, nutrition bars, specialized edible flour and mass gainers. Increase in demand for whey protein beverages such as protein shakes and sports drinks especially among athletes coupled with rapid urbanization and increasing consumer spending on gyms and health clubs further boosts the overall growth. Bakery & confectionary segment is anticipated to grow at a significant CAGR owing to increase in consumption of protein based bakery products especially in European countries. Moreover, increasing demand for packaged protein biscuits and cakes and rapid growth of protein based candies and toffees especially among geriatric population are further anticipated to boost the overall demand for whey protein ingredients over the forecast period.

Asia Pacific is projected to be the most lucrative region in the global whey protein ingredients market on account of rise in per capita disposable incomes in several developing economies coupled with increasing consumer spending. Moreover, rapid urbanization, increasing awareness among consumers, increasing number of health centers and fitness clubs along with growth in the overall population are some other major factors driving the demand for whey protein ingredients in the region. Rapid growth of the dairy industry, changing food habits and increasing demand for whey protein concentrates in bodybuilding and sports nutrition applications are further driving the overall demand. The North America whey protein ingredients market is primarily driven by increase in the consumption of sports nutrition products as well as rising inclination of consumers towards the use of nutrition bars and protein rich bakery products. Also, increasing consumption of bakery products especially among younger population, elevation in use of animal protein in pharmaceuticals and increasing number of working women leading to increasing use of protein based infant formula are some other factors driving the North America whey protein ingredients market. The U.S. is the dominant country in the region and is driven by the rising demand for functional food & beverages. Canada is anticipated to witness a rapid growth in the coming years owing to increasing population, increasing number of immigrants especially from Asia and Europe as well as increasing health awareness especially among the geriatric population.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Whey Protein Ingredients market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Whey Protein Ingredients market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Whey Protein Ingredients market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Whey Protein Ingredients market?
• Which is the largest regional market for Whey Protein Ingredients market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Whey Protein Ingredients market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Whey Protein Ingredients market worldwide?