Whey is a natural substance, the liquid part of fresh milk that is left over from making of cheese and has been used for health related reasons for more than 24 centuries. It is a rich source of various nutrients such as protein, amino acids, vitamins and minerals. Whey protein powder also lowers weight, cholesterol and blood pressure, reduces the risk of cardiovascular diseases and improves asthma. Owing to these benefits, whey protein powder has found several applications in various industries such as food and beverages, health supplements, pharmaceuticals and many more. As the whey protein powder aids muscle development by helping in protein synthesis in the body, it is extensively consumed by bodybuilders and athletes, thereby driving the market growth. In addition, a surge in the trend of fitness centers and health club is taking the global whey protein powder market grow in terms of revenue growth.
The overall global whey protein powder market is expected to witness an intangible growth in terms of CAGR.
Global Whey Protein Powder Market: Segmentation
Global whey protein powder market can be segmented on the basis of type, end use, sales channel
On the basis of type, global whey protein powder market can be segmented into whey protein concentrate, whey protein isolate, whey protein hydrolyzed. Whey protein concentrate is high in lactose and low in protein. Hydrolyzed whey protein is high protein source and holds about 60% share of the total whey protein powder market.
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Global whey protein powder market can be further segmented on the basis of end use into food and beverages, health supplements and pharmaceuticals. Food and beverages segment is further sub segmented into infant foods, bakery, confectionery, functional beverages, snacks and dairy products.
On the basis of sales channel global whey protein powder market can be further segmented into direct and indirect. The indirect sales channel can be further sub segmented into Supermarket, hypermarket, specialty stores, drug retail stores and e retailers.
Global Whey Protein Powder Market: Drivers, Restraints, and Trends
The rising global demand for dairy based products, growing market for pediatric foods, and increasing trend of health and wellness in midst of the consumers along with an increased popularity of protein consumption are considered to be the major drivers for the market. Other factors include the growing emphasis on read to drink and performance boosting products and advancement in technologies giving rise to naïve and improved supplements for health benefits.
Despite of a numerous drivers for the market, the market still faces a challenge of the growth retardation by certain restraints. One of the most important restraint for the market is the high processing and manufacturing cost of the whey protein powder. There are certain health related concerns with the whey protein powder which have hindered the consumers in building a complete trust over the protein powders which stunt the growth of the global whey protein powder market. Another important factor which restricts this market to flourish is the stringent regulatory concerns and required certifications for marketing whey protein. Apart from all these restraints, the rising scope of whey protein powders in infant foods and several other food processing sectors are believed to drive the overall global whey protein powder market.
Global Whey Protein Powder Market: Regional Outlook
Depending on the geographic regions, Global Whey Protein Powder Market is segmented into seven key regions: North America, Latin America, West Europe, East Europe, Asia Pacific excluding Japan, Japan and MEA.
North America dominates the overall market for whey protein powder and holds a maximum share of the global whey protein powder market. U.S. is the major market in this region.
Asia Pacific whey protein market is growing rapidly owing to the growing health concerns and increase in the disposable income. Asia Pacific also holds a valuable market share of the global whey protein powder market.
The Europe whey protein powder market is expected to grow at an average rate owing to the increasing demand of food and beverages in the region.
Global Whey Protein Powder Market: Key Players
Some of the prominent players of Global Whey Protein Powder Market are: Fonterra, Saputo, Murray, Leprino food CO., Westland Milk producers, Glanbia Foods, Agropur Inc. and others.