DUBLIN--(BUSINESS WIRE)--The "Whey Protein Powder Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Application; Distribution Channel, and Geography" report has been added to ResearchAndMarkets.com's offering.
The global 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.
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.
The whey protein powder market, based on applications, 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. Along with managing weight loss and lowering cholesterol, whey protein powder is beneficial in 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 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 such as 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.
The whey protein powder market is broadly segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), the Middle East & Africa (MEA). In 2018, Europe held the largest share of the global whey protein powder market, followed by North America. The whey protein powder market in the Rest of Europe is estimated to be the largest. The demand for whey protein in the Rest of Europe is forecasted to rise due to growing investment in research and development by manufacturers along with the growing number of applications such as food and beverages, pharmaceuticals, and others. Also, robust growth in product offerings is impacting the market growth in the Rest of Europe.
Reasons to Buy
- Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the global whey protein powder market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as key market drivers and restraints.
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Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Market Dynamics
Drivers
- Rising demand from infant formula manufacturers
- Growing sports nutrition industry
Restraints
- Side Effects Associated with Consumption of Whey Protein
Opportunities
- Growing Popularity of Emerging Food Formats
Trends
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Replacement for Gluten and Eggs in Bakery Industry
Companies Profiled
- Agropur Ingredients
- Arla Foods Ingredients
- Carbery Group
- Glanbia PLC
- Clover Fonterra Ingredients
- Hilmar Cheese Company
- Lactalis Ingredients
- Leprino Foods Company
- Milk Specialties
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Saputo Dairy Australia Pty Ltd
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