Middle East and Africa Whey Protein Market - Growth, Trends, and Forecast (2019 - 2024)
Middle East and Africa whey protein market is projected to reach USD 0.92 billion by 2024, witnessing a CAGR of 6.75% during the forecast period (2019 - 2024).
The key factors that drive the growth of the whey protein market in the region are rising demand for dairy ingredients, consumer awareness towards a healthy diet, rising trend of the health club and fitness center, an increasing percentage of elder age people across the globe and keen interest of youngsters towards sports and nutrition.
Flavors, nutritional values, ease of carrying and perishable nature are making whey snacks a popular choice amongst not only health-conscious people but millennials who are looking for quick snack option to full meals, and older people looking for protein reach diet.
Scope of the Report
The scope of the whey protein market includes the segmentation of whey protein on the basis of Type under Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein. Further segmentation has been done on the basis of Application under Sports and Performance Nutrition, Infant Formula and Functional/Fortified Food.
Key Market Trends
Increasing Health and Fitness Club Memberships In The Region
The Middle East and Africa region is flourishing in terms of health and fitness culture as there has been an increased rate in the number of memberships around the region. Consumers are willing to spend more on health and fitness club with healthy aspects is playing a key role to drive the market growth across the region. The rising number of health clubs and the gym with personal training and the latest fitness equipment is attracting consumers to join the health and fitness clubs which will continue to influence the whey protein market growth in upcoming years. Among all, countries like South Africa, Saudi Arabia, United Arab Emirates, Egypt, Morocco, and Kuwait are expected to surge the demand for whey protein in the region. IHRSA (International Health, Racquet And Sportsclub Association) stated that South Africa registered the highest number of health and fitness club memberships across the region in the year 2016.
South Africa Leading The Market in Africa Region
South Africa's whey protein market is projected to reach USD 125.9 million by 2024, registering the CAGR of 6.3% during the forecast period. The increase in demand from working women for quality protein infant foods and nutritional requirements of athletes is driving the growth rates. South Africa, with a matured and organized retail sector, is expected to increase shelf space for whey protein products (in its stores), thus, holding a major share in the African region. Therefore, consumers are increasingly purchasing protein bars and supplements to meet their nutrition requirements and maintain their health.
The market is dominated by players, such as Arla Foods, Glanbia Nutritionals, Lactatis Ingredients, Carbery Group, Agropur, Friesland Campina and others. Cheese production is the largest and most viable source of whey. Global companies are implicitly strengthening their production resources for whey protein, by investing in cheese production. Additionally, owing to the rising penetration of whey protein into the sports nutrition industry, the major companies are focusing on new and innovative product launches across countries like South Africa, UAE, Suadi Arabia, and Egypt.
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