North America Whey Protein Market Forecasted for 2015-2020
Whey is a liquid material procured from manufacturing of cheese. It is a mixture of beta-lactoglobulin, immunoglobins, bovine serum albumin and alpha-lactalbumin. Whey protein can be of three primary types: whey protein concentrate (WPC), whey protein isolate (WPI) and hydrolyzed whey protein (HWP). It has come a long way from being a by-product to becoming one of the highly sophisticated industries functioning in food/food derivatives segment today. North America accounts for 32% of the market share. North American market was estimated at $1876.6 million in 2015 and is expected to reach $2709 million by 2020 with a CAGR of 7.3% during the forecasted period of 2015-2020. The region is the second largest market for whey protein after Europe. In terms of both import and export, whey protein market in the region is highly matured and is still growing. United States was the major market within the region, followed by Canada and Mexico; Canada is an emerging market for whey Proteins. Rising demand for dairy ingredients has given this market a hike. Consumers are aware of the health needs and how dairy ingredients benefit their wellness. This is one of the major drivers in the market. An explosive trend of healthy food was witnessed in regions like US and Canada creating a demand for ingredients such as whey protein. Due to busy lifestyle and work culture, consumers are opting for ready to go meals and bevergaes. Whey protein gives them energy and keeps them healthy. Whey protein\'s increasing fame among consumers is based on its various advantages; including cancer fighting capacity, improvement of immune system, stress reduction, diet support, fat loss and mass gain. The side effects of whey protein consumption are insignificant and can take effect if consumed immoderately. Thus, the U.S. FDA has regulated usage of whey protein to 2g/day, which turns out to be a restraint for the market. Side-effects of overconsumption of whey protein include nausea, diarrhoea, thirst, bloating, tiredness, cramps, headache and loss of appetite. Whey protein is produced by splitting the casein content from milk, major allergen is subsided from its composition. Normal dosage of whey protein for a sports person/athlete is approximately 1.0 to 1.2 grams per kilogram (weight) per day. Clinical usage seems to be an emerging opportunity for the market. The increasing prescription of supplements by doctors is giving an opportunity for manufacturers to build products that are clinically proven and approved. Agropur MSI, American dairy Products institute, Arla Foods, DMK Group, Milk Specialities Global are some major players in the industry. Their product portfolio, research & development, strategic initiatives and commitment towards meeting consumer\'s demands play a major role maintaining market stability. Key Deliverables in the Study • Market analysis for the North America 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 North America 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.