Global Whey Protein Market - Growth, Trends And Forecast (2015-2020)
Whey protein is traditionally a by-product of cheese manufacturing; watery portion of milk separated from curd. It is considered a whole food as it contains all 20 essential amino acids that human body requires. This product is very much in demand among infants in need of protein diets, athletes, lactose allergic population and body building enthusiasts. In short-time, whey has come a long way from being a by-product to becoming one of the highly sophisticated industries functioning in food/food derivates segment today. Global production of whey protein amounted to 240 million MT in 2015 and the production rate is expected to increase 3.5% annually. Global whey protein market had a value of $5.59 billion in 2015. The market is expected to reach $8.4 billion by 2020 with an estimated CAGR of 7.6%. Whey proteins are versatile in usage and find applications extensively in infant formulae, bakers & confectionaries, snacks and dairy products. Functional beverages like sack and wine employ whey as a major ingredient in production. This will be the fastest growing segment in next five years. With identified nutritional value, 45% of whey protein market has been centralized in dietary supplements segment. Whey protein concentrate (WPC), whey protein isolate (WPI) and hydrolyzed whey protein (HWP) are three available forms in the market. WPC -high in lactose and low in protein- constitutes over 25% of total whey protein market share. It is used in the production of protein beverages and nutritional supplements. HWP -high in protein- holds around 60% of market share and are used in medical and sports nutrition products. Agropur MSI, American Dairy Products Institute, Arla Foods, DMK Group, Glanbia Plc and Westland Milk Products are some major players in the industry. Their product portfolio, research & development, strategic initiatives and commitment towards meeting customers’ demands play a major role maintaining market stability. Market Drivers: Rising global demand for dairy-based products, growing market for paediatric foods and global trends in health and wellness, along with increased popularity of protein consumption, are the major factors contributing towards market growth. Other factors include: Growing emphasis on ‘ready to drink’ and performance boosting products Advancements in technology leading to high quality, versatile product varieties Major Restraints: High manufacturing cost, health & safety concerns, regulatory concerns and required certifications for marketing are the major factors hindering market growth. Growing Opportunities: Rapidly growing demand for infant foods, processed foods and dairy-based products Higher scope of application in personal care and sports nutrition segment Increasing elderly population prescribed for dietary supplements intake Key Deliverables in the Study • Market analysis for the Global Whey Market, with region specific assessments and competition analysis on global and regional scales. • Market definition along with the identification of key drivers and restraints • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale • Extensively researched competitive landscape section with profiles of major companies along with their market shares • Identification and analysis of the macro and micro factors that affect the Global Whey Market on both global and regional scales • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.