Argentina Whey Protein Market - Trends, Growth, and Forecast (2018 - 2023)
The global whey protein market is expected to reach 12.9 Billion by 2023 registering a CAGR of 7.2%, during the forecast period of 2018 – 2023. Whey is a liquid material procured from manufacturing of cheese. It is a mixture of beta-lactoglobulin, immunoglobins, bovine serum albumin, and alpha-lactalbumin. Whey protein can be of three primary types: whey protein concentrate (WPC), whey protein isolate (WPI), and hydrolyzed whey protein (HWP). It has come a long way from being a by-product to becoming one of the highly sophisticated industries functioning in food/food derivatives segment today.
Dairy, infant formula and bakery markets have experienced a consistent growth in Argentina. However, an increased demand for dairy ingredients/ alternatives and recombined milk was witnessed in the country over the past 5 years. This, aided by the consumer shift towards balanced and healthy diets, resulted in a demand for supplementary/ high quality proteins. The gap was filled in by whey protein due to its high popularity in the western world and wide-spread benefits in clinical nutrition and weight management.
November 2017 - New Zealand dairy giant Fonterra joined forces with two US dairy concerns to become an equal shareholder in Oregon-based whey protein concentrate and lactose manufacturer Columbia River Technologies
September 2017 - Glanbia Nutritionals Launched Heat Stable and Soluble Hydrolyzed Whey Protein. ProTherma™ which was an agglomerated hydrolyzed whey protein designed to withstand high temperatures giving it the ability to stay soluble and stable when added to hot water
June 2017 - Arla Foods Ingredients launched a new whey protein solution that the company says ensured that the protein bars it is used in stay soft for at least a year.
The major players include - ARLA FOODS, AMERICAN DAIRY PRODUCTS INSTITUTE, GLANBIA NUTRITIONALS, DAIRY PRODUCTS, FRIESLANDCAMPINA, CARGILL, AGROPUR MSI,LLC, DMK GROUP, FONTERA CO-OPERATIVE GROUP, HILMAR CHEESE COMPANY, amongst others.
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