Global Whey Protein Ingredients Market Forecast 2021-2028
The global whey protein ingredients market growth is anticipated to progress at a CAGR of 5.49% in terms of volume and 11.22% in terms of revenue during the forecast period, 2021-2028. The increasing health-conscious consumers, growing awareness of whey protein benefits, rising demand for high-quality protein supplements, and thriving health & wellness products fuel market growth.
Whey protein is a byproduct obtained during the manufacture of cheese, which is rich in protein. It is used to increase the protein intake in the diet, and is used as an ingredient in infant formulas. Protein supplements were popular and limited to bodybuilders, fitness freaks, gym-goers, and athletes. Currently, they have extended to people from all walks of life. This is because they aid in preventing diseases and enhances sports performance, apart from helping build muscles and gain strength.
Moreover, the rising urbanization and the growing preference for a healthy lifestyle and personalized nutrition have boosted the growth of protein supplements. Additionally, the integrated efforts of pharmaceutical, technology, and food companies have led to new product developments with better functionality. Such aspects have increased the demand for high-quality protein supplements, which drives the market's overall growth. However, the health-related problems due to whey protein use and the raw material price fluctuations hinder market growth.
The global whey protein ingredients market growth evaluation includes the analysis of North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific is estimated to fare the highest in terms of CAGR, both in terms of revenue and volume. The increasing use of whey as additives in skin care products and nutrition and food & beverage industries is one of the key growth drivers.
The strategic diversity of the competitors in the market increases the competitive rivalry in the market. Some key companies in the market include Grande Custom Ingredients, Danone SA, Leprino Foods Company, Erie Foods International Inc, Glanbia Plc, Fonterra Co-Operative Group, etc.
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• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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