This BCC Research report provides an in-depth analysis of the global whey protein market dynamics and the way adoption will happen across key-end markets across 23 countries. Includes forecast through 2020.
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Analyze global whey protein market dynamics and the way adoption will happen across key end markets in 23 countries. Gain information on the contribution of various regions globally towards the consumption of whey proteins. Learn about the intensity of whey protein usage and involvement of various companies Analyze market strategies and new products and innovations related to whey proteins.
The global whey protein market will reach $13.5 billion in 2020 from $9.2 billion in 2015, registering a CAGR of 6.5% for the period of 2015-2020. The food and beverage segment will increase at a CAGR of 5.0% over the forecast period to grow from $4.3 billion in 2015 to $5.5 billion in 2020. Sports nutrition as a segment is expected to reach $1.7 billion in 2015 and $2.7 billion by 2020 increasing at a CAGR of 9.0%.
REASONS FOR THE STUDY AND ITS IMPORTANCE
The whey protein industry is one of the most significant segments of the protein industry. Whey ingredients are expected to continue to grow in both value and volume over the medium term. The growth will be driven by stable demand in core markets – the U.S. and countries in the E.U. region. Growth will also be driven by increasing demand in emerging economies, especially in Asia-Pacific.
Whey protein ingredients are currently playing a key role in effectively and efficiently replacing milk in many edible products. Primarily, whey proteins were used in intensive sports nutritional products and were restricted to usage by athletes. However, with increased awareness among mass consumers, the consumption of this commodity has increased in the form of nutrition bars, nutritional beverages, infant nutritional formula and weight-management supplements.
Some of the leading producers and suppliers in the industry are currently taking the initiative of infusing whey proteins in various products to create differentiation, highlighting their nutritional value. In many cases, whey ingredients also increase the shelf life of products, maintain the quality and taste and bring down the production costs.
Fundamentally, increased focus on health across age groups and gender is driving adoption of whey protein beyond sporting activities. Whey protein demand overall is being driven by widespread application across end markets – from health food, bakery, confectionery, functional nutrition, dairy, ice cream and other processed food.
Demand is being driven by change in consumer behavior toward the healthy-food segment, which is a global phenomenon. Whey derivatives are also finding increased adoption in niche categories such as infant formula products.
From a market perspective, emerging economies in Asia and Latin America are driving the demand for whey ingredients. Steady economic growth in key emerging economies in these regions has resulted in increased disposable income and a burgeoning middle-class population, which is ready to spend more on lifestyle and health food. This is significant especially in volume terms, with large populations in these markets.
Intense competition in end markets is also leading to increased adoption of whey ingredients, as manufacturers focus on differentiating their offering to gain market share and on commanding a premium price.
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