Whey Protein Powder Market to 2027 | Global Industry Analysis

The whey protein powder market was valued at US$ 10,252.9 million in 2018 and is expected to grow at a CAGR of 6.2%from 2019 to 2027 to reach US$ 17,522.4 million by 2027.

Over the last decade, the rising health-conscious customers across the globe has created lucrative opportunities for the whey protein powder manufacturers. Consumers are looking for ways in adopting a healthy and an active lifestyle, which has boosted the demand for health-oriented food products. Thus, protein supplement bears the same kind of traction in Europe, North America, and APAC. Healthy lifestyle is becoming a normal way of life due to concerns majorly over food sensitivity and obesity, as well arise in diseases. Consumers spending on various protein and associated supplements has boosted the whey protein powder market growth over the past few years. Moreover, rising disposable income and improving financial stability are also creating lucrative opportunities for the manufacturers. People are anticipated to spend on these products due to rise in obesity concerns and healthcare awareness, as well as the ability to spend on various items such as protein bars and other supplements.

APAC is expected to grow at the highest CAGR of 6.9% during the forecast period owing to the overall growth of the economy, growing population, increasing awareness on nutritional food, changing demographics in terms of consumer life style, and booming food and beverage industry. India and China are the leading countries in APAC owing to the increasing population. Improved lifestyle and growing economy are some of the other key dynamics contributing to the growth of the whey protein market. Moreover, the quest for dairy-based protein foodstuff is increasing rapidly in APAC owing to the growing awareness of its nutritional profile. The demand for protein ingredients in regions has transformed significantly in terms of nutritional value and quality with increasing expenditure on nutritional food products due to rising income levels. Owing to the trend of sports and fitness, the demand for supplement products has also witnessed a northward trend in the region over the past few years. The demand for dairy protein supplements has also seen an upsurge in countries such as India, Malaysia, and Indonesia. The food &beverages industry is one of the fastest-growing segments among the other application segments.

Effect of COVID-19 on Whey Protein Powder Market

COVID-19 outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, Republic of Korea, France, Germany, and the US are among the worst affected countries in terms confirmed cases and reported deaths. The outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food processing industry is one of the major industries that is suffering serious disruptions such as factories shutdown, supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.

Global Whey Protein Powder Market

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Growing Sports Nutrition Industry

The latest trends in the sports sector, especially regarding nutrition, are creating new revenue streams for whey protein manufacturers. There are plenty of sports nutrition products designed and prepared for targeting different types of athletes at different stages in their training and recovery. From the consumer profiles’ prospectus, the whey protein powder market for sports supplements and nutrition has transformed immensely over the last decade. Historically, athletes and bodybuilders have been the prime consumers of sports nutrition products. However, with the rapid expansion of the dietary supplement industry and rising consumer health consciousness, there has been a rise in the use of whey protein supplements by recreational users. Consumer preference for whey protein products can be correlated with the introduction and launch of protein-added snacks, yogurt, and meal replacement products, which is boosting the market growth to a greater extent.

Type-Based Insights

The whey protein powder market, based on type, is segmented into concentrate, isolate, and hydrolysate. The concentrate segment accounted for the largest share of the global whey protein powder market in 2018and is expected to grow at a higher CAGR during the forecast period. Whey protein concentrate powder is derived when whey protein is dried and milk is filtered. Whey protein concentrate powder is micro-filtered to keep its amino acid content as pure and strong as possible. It also maintains its silky smooth texture when blended with milk or water. It consists of 80% of protein and a small amount of carbohydrates and fats. As the carbohydrate and fats content in whey protein concentrate powder is minimal, it can be consumed as a regular or a mass gain diet. The filtration process involved in the production of whey protein concentrate powder is less intense than whey protein isolate powder, which makes whey protein concentrate powder richer in calories, carbohydrates, fats, and proteins as compared with isolate powder. As whey protein concentrate powder delivers an ultra-pure, ultra refined powerful high protein mix to muscles and is easily digestible, this powder is often regarded as the most popular, most efficient, and economical to the consumers.

Global Whey Protein Powder Market, by Type– 2018 & 2027

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Application-Based Insights

The whey protein powder market, based on application, is segmented into food & beverages, animal feed, and others. The food & beverages segment accounted for the largest share of the global whey protein powder market in 2018, whereas the others segment is expected to register the fastest growth rate during the forecast period. Whey protein powder is also beneficial in managing weight loss, lowering cholesterol levels, increasing bone density, and reducing the risk for cardiovascular diseases and stroke. It serves as a low cost alternative to high cost dairy ingredients such as cream, butter, fats, and cheese; it is also used as an alternative to eggs in certain applications such as dressings, mayonnaise, and no-rise baked goods, and therefore it is used globally in the food industry. Various beverages, such as plain whey beverages, concentrated fruit-based whey beverages, deproteinated whey beverages, whey protein enriched whey beverages, whey-based soups, and dietetic beverages and drinks with hydrolyzed lactose, are produced by using whey proteins.

The food & beverages segment is further bifurcated into infant formula, sports & dietary nutrition, bakery & confectionery, dairy, and others. Among all five segments, the infant formula segment held the largest market share in 2018 and the bakery & confectionery segment is expected to register the fastest growth rate during the forecast period. Many infant formula manufacturers include whey protein powder in their formulations as whey serves all kinds of dietary benefits. High-quality forms of whey protein powder like isolates mix with liquids easily. Besides, whey is produced from milk, which is what infants primarily consume. Alpha-lactalbumin, a type of whey protein, when added to infant formulas has proved to be of great nutritional importance. The American Academy of Pediatrics reports that about 60% of the protein found in breast milk is whey protein.

Distribution Channel-Based Insights

The whey protein powder market, based on distribution channel, is segmented into supermarkets, nutrition store, specialist sport store, online, and others. The supermarkets segment accounted for the largest share of the global whey protein powder market in 2018, whereas the specialist sport store segment is expected to register the fastest growth rate during the forecast period. Supermarkets are self-help shops with a wide variety of products, including different protein powders. A consumer can find extensive merchandise mix along with different brands of whey protein powder placed under the same roof. Earlier the classic protein drinks were displayed in oversized bottles and tubs, but now they are available in attractive bottles with their respective brand labels. Protein powders have a dedicated section in supermarkets to attract fitness enthusiasts and athletes. A western supermarket today, displays whey protein powder of different brands along with whey protein noodles, whey protein bars, whey protein cookies, and why protein shakes.

Strategic Insights

Mergers and acquisition and research and development are commonly adopted by companies to expand their footprints worldwide, which is further impacting the size of the market. The players present in the whey protein powder market such as Carbery Group, Lactalis Ingredients, and Milk Specialties have been implementing the mergers and acquisition and research and development strategies to enlarge the customer base and gain significant market share across the world, which also permits the players to maintain their brand name globally.

Report Spotlights

• Progressive industry trends in the global whey protein powder market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the global whey protein powder market from 2017 to 2027
• Estimation of global whey protein powder demand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and global whey protein powder demand
• Market trends and outlook coupled with factors driving and restraining the growth of the global whey protein powder market
• Decision-making process by understanding strategies that underpin commercial interest with regard to global whey protein powder market growth

• Global whey protein powder market size at various nodes of market
• Detailed overview and segmentation of the global whey protein powder market, as well as its dynamics in the industry
• Global whey protein powder market size in various regions with promising growth opportunities

Global Whey Protein Powder Market – By Type

• Concentrate
• Isolate
• Hydrolysate

Global Whey Protein Powder Market – By Application 

• Food & Beverages
  • Infant Formula
  • Sports & Dietary Nutrition
  • Bakery & Confectionery
  • Dairy
  • Others
• Animal Feed
• Others

Global Whey Protein Powder Market – By Distribution Channel

• Supermarkets
• Nutrition Store
• Specialist Sport Store
• Online
• Others

Company Profiles

• Agropur Ingredients
• Arla Foods Ingredients
• Carbery Group
• Glanbia PLC
• Clover Fonterra Ingredients
• Hilmar Cheese Company
• Lactalis Ingredients
• Leprino Foods Company
• Milk Specialties
• Saputo Dairy Australia Pty Ltd