Whey Protein (Powder and Concentrate) Market Report 2024-2032, Share, Size, Demand and Future Scope

IMARC Group's report titled "Whey Protein (Powder and Concentrate) Market Report by Type (Whey Protein Concentrate, Whey Protein Isolate, Whey Protein Hydrolysates), Application (Food and Beverages, Nutrition Products and Pharmaceuticals, Feed Applications, and Others), and Region 2024-2032". The global whey protein (powder and concentrate) market size reached US$ 5.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.

Factors Affecting the Growth of the Whey Protein Industry:

• Expanding Applications in the Food and Beverage Industry: 

Recently, whey protein has transcended its original purpose as a supplement and is now extensively incorporated into a range of food and drink items. Its versatility and capacity to boost the nutritional value of many consumables have rendered it a highly desirable component. Whey protein is increasingly being utilized in a variety of products, including protein bars, shakes, dairy substitutes, and savory snacks, indicating its expanding influence in the culinary realm. This expansion of uses within the food and beverage industry is extending its market penetration and supporting the advancement of the whey protein sector.

• Rise in Sports and Fitness Activities: 

The rise of the sports and fitness sector is a key factor propelling the whey protein market forward. With a growing number of individuals worldwide participating in sports, exercise, and other physical pursuits, the demand for whey protein supplements has surged. These supplements are increasingly recognized as beneficial tools for athletes, fitness buffs, and anyone striving to maintain an active way of life. By supporting muscle recovery, growth, and performance improvement, whey protein plays a crucial role in meeting the needs of this expanding demographic. As such, the uptick in fitness-related engagements is driving considerable growth in the whey protein market.

• Increasing Health Consciousness: 

The whey protein industry is thriving due to the increasing focus on health and wellness among consumers. People are looking for products that can help them achieve their fitness goals, and whey protein is a popular choice because of its high protein content and essential amino acids. Known for its benefits in muscle building, weight control, and overall well-being, whey protein is in high demand as more people become aware of its advantages. This heightened awareness is driving the growth of the whey protein market.

Leading Companies Operating in the Global Whey Protein Industry:

• Arla Foods
• Agropur Inc.
• Hilmar Cheese Company, Inc.
• Glanbia Plc
• Kerry Group Plc
• Milk Specialties Global
• Leprino Foods Company
• Carbery
• Grande Cheese Company
• Lactalis Group

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Whey Protein Market Report Segmentation:

By Type:

• Whey Protein Concentrate
• Whey Protein Isolate
• Whey Protein Hydrolysates

Whey protein concentrate represented the leading segment due to its cost-effectiveness and versatility in various food and beverage applications.

By Application:

• Food and Beverages
• Nutrition Products and Pharmaceuticals
• Feed Applications
• Others

Nutrition products and pharmaceuticals represented the largest segment as they benefit from whey protein's high-quality protein content and its role in supporting overall health and wellness.

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Global Whey Protein Market Trends:

The surge in consumer health awareness is the main force behind the growth of the whey protein market. This heightened consciousness has led to an increased demand for whey protein products, known for their significant impact on muscle development, weight control, and overall health. Additionally, the expanding global interest in sports and fitness is boosting market expansion as athletes, fitness aficionados, and everyday individuals integrate whey protein supplements into their regimens for improved performance and recovery. Moreover, the evolving use of whey protein in various food and beverage items like protein bars, shakes, and dairy substitutes is also playing a key role in driving market growth.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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