Brazil Whey Protein Market - Growth, Trends, and Forecast (2019 - 2024)
Brazil Whey Protein Market is forecasted to reach USD 325.16 million by 2024 growing at a CAGR of 8% during the forecast period (2019 - 2024).
Brazil, accounting to over 58.53% of the market in South America, was the major market for whey protein in the region.
Increasing western influence resulted in a demand for foods and beverages with functional benefits in the region.
A subsequent demand for whey protein was witnessed due to its health benefits.The Brazilian sports nutrition market has been expanding with protein-based products leading in the sports nutrition category. As a result, whey protein products have high growth potential in South America.
Scope of the Report
The market studied has been segmented by product type and application. By product type, the market studied can be segmented into whey protein concentrate, whey protein isolate, and hydrolyzed whey protein. The report offers insight into the applications prevalent in the market studied and the applications with high growth prospects.
Key Market Trends
Entrenched Fitness Industry
Brazil has sustained its second position in the World health club industry, in terms of a number of fitness centers from the past three years. Determined about fitness and health, high adoption rates of gym culture and pursuit of body beauty have been a leading factor for the industry growth in Brazil. In 2015, 3.5% of the Brazilian population was registered in fitness centers, of which, more than 40% centers are occupied with women and people above 60 years. With the growing gym culture, the demand for sports nutrition and supplements has gone up. This had a huge impact on sports nutrition. Among the sports nutrition, proteins occupy a major share of 74%, owing to their health benefits in strengthening and muscle building. In addition, the influence of trainer guidance has a huge impact on the market, as they direct the customers overeating habits. It is estimated that sports nutrition will grow at an average of 9% a year.
Major Demand For Whey Protein Concentrate is High
Whey protein concentrate is widely considered to be the most efficient and economical form of protein for the human body to digest and use. The concentrates are micro-filtered and not heat treated to produce ultra-pure protein. This process ensures that the protein stays intact and as pure as it can be. It also means the powder can be mixed easily and achieve a smooth texture, giving the perfect protein shake. The market for whey protein concentrate is cheap and growing as it is consumed as a general supplement of the body. Therefore, this form of protein is particularly popular among health-conscious masses. Whey protein concentrate is the cheapest type of whey protein available with the lowest amount of protein per 100grams. Though low in protein content, 55-89% is made of protein; other 11-45% is made of fat, lactose, and peptides. In some cases, despite less availability of protein, WPC is treated as whole food as it contains trace amounts of lactose and milk fat.
The Brazil whey protein market is a fragmented market. The market is dominated by players, such as Arla Foods, Carbery Group and Fonterra Group. Other prominent players in the market include Hilmar Cheese Company and FrieslandCampina amongst others. Product innovation and Partnership are the most common strategy adopted by key market players, such as Arla Foods and Fonterra Group.
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