Spain Whey Protein Market - Growth, Trends & Forecasts (2020 - 2025)
The Spain whey protein market is projected to grow with a CAGR of 3.6% during the forecast period (2020 - 2025).
The key factors driving the growth of the market include the growing awareness about the benefits of whey such as improvement in body strength, presence of enriched nutrients and proteins, prevention against allergic conditions in infants, reverse weight loss in people with HIV, and antioxidants defense.
The demand for whey proteins is significantly increasing from sports nutrition and functional beverage sectors. Also, the geriatric population in Spain, health-conscious consumers, and an increasing number of health & fitness clubs/centers for the youngsters facilitate the growth of the whey protein market in Spain.
Key Market Trends
Rising Demand for Whey Protein Concentrate
Protein concentrate has the largest share in the plant protein market. Concentrates have become a popular choice over isolates because of the same nutritional profile but at lower costs. This segment is driven by its extensive use in food industries such as the functional food and beverage sector owing to its potential benefits such as high-water solubility, fat-binding capacity, emulsifying properties, and foaming ability. Also, protein concentrates are available in different forms, such as granules, flakes, flour, and spray-dried powders. Concentrated proteins have also found use in injection-molded chews and treats. Furthermore, rapid advancements in technology and companies’ efforts in trying to develop products with multifunctional uses are driving the trend of protein concentrate in Spain.
Growing Demand for Sports & Performance Nutrition
Growing demand from the health, performance, and sports industry has led to significant growth of the whey protein-based product market. At the same time, food-processing industries are using whey protein for the manufacturing of health drinks. In Spain, the growing middle-class population and economic growth have led to an increase in the consumption rate of health drinks. Awareness among the mass to be fit and remain in shape, along with enhancing the body immunity, has lead to significant growth in demand for whey protein in urban areas. This increase in the number of muscle and fitness enthusiasts has prompted a growing consumer demand for protein sports beverages, specialized nutritional drinks, nutritional snack bars, and other products, which are designed to optimize athletic performance.
The Spain whey protein market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include Lactalis Ingredients, Fonterra Co-operative Group, Estrel Ingredients, S.L., and Carbery Group, among others.
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