Global Whey Protein Market by Type (Isolates, Concentrates, Hydrolysates), By Source (Organic, Conventional), By Distribution Channel, By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the global Whey Protein Market was worth USD 9.4 billion and is predicted to reach USD 20.0 billion by 2032. It is estimated to grow a CAGR of 8.0% between 2023-2032.

The protein derived from whey, the watery component present in milk that gets separated from the curd during the process of cheese making, is described as whey protein. It may boost the nutritious content of the diet while also positively impacting the immune system. It is used in conjunction with exercise to help increase muscle protein synthesis and lean muscle mass growth.

Other potential advantages include weight loss and cholesterol reduction. There are numerous advantages to consuming whey protein, and researchers are constantly discovering new potential medicinal as well as nutritional characteristics. Whey protein demand is increasing over the globe as people are becoming more aware of the importance of living a healthy lifestyle. Customers are drawn to a large extent to whey protein because fitness and sports clubs regularly recommend protein supplements.

Furthermore, because of its antihypertensive and antibacterial qualities, whey protein is employed in the food industry in baked goods, dairy products, drinks, cereals, chocolates, and infant foods. As a result, global whey protein sales are expected to rise significantly. Whey protein sales have increased as people become more aware of the benefits of eating natural or organic foods. Whey protein is regarded as a luxury or premium product, which is likely to aid in its expansion.

Whey protein is used in cosmetics and personal care products and is regarded as a premium product. The growth of the whey protein market is fuelled by key factors such as the increase in the prevalence of obesity around the world and rising awareness about healthy lifestyles among the general population. Moreover, a rise in demand for protein-rich foods, the launch of beneficial products, and several government initiatives promoting a healthy lifestyle are likely factors contributing to the market growth during the estimated time period.

Key Takeaways

• Market Growth: In 2022, the global Whey Protein Market was estimated at $9.4 billion and projected to experience a compound annual growth rate (CAGR) of 8.0% between 2023-2032.
• Whey Protein Definition: Whey protein is made up of the liquid component extracted during cheese manufacturing and used to improve nutrition and strengthen the immune system. In conjunction with exercise programs, it promotes muscle protein synthesis and lean muscle growth, as well as facilitates recovery after muscle tissue injury.
• Market Drivers: Key factors driving the Whey Protein Market include increasing global obesity prevalence rates, rising awareness about healthy living practices, and an escalation in demand for protein-rich food products.
• Demand for Protein-Rich Foods: With hectic lifestyles making maintaining a balanced diet increasingly challenging, protein-rich food sources have seen increasing popularity as nutritional solutions to fulfill daily requirements.
• Problems in the Whey Protein Market: Some challenges whey proteins face include potential side effects for individuals such as digestive issues and its higher cost compared to other protein sources as well as environmental concerns related to intensive farming practices.
• Whey Protein Types: Of all the types of whey protein available today, isolates have captured most of the spotlight; concentrates are still significant with 38.5% market share held by concentrates as of 2022.
• Organic Whey Protein Dominants Market: Organic Whey Protein dominates the market due to increasing consumer preference for natural and unadulterated food products, accounting for 61% revenue share in 2022.
• Distribution Channels: Supermarkets and hypermarkets dominate market distribution channels, accounting for an overwhelming portion of market share. Supermarkets and Hypermarkets Are Prominent This Distribution Channel Category Supermarkets and hypermarkets currently account for 28% of revenues expected by 2022 in revenue share terms.
• Application Segments: Sports Nutrition is projected to lead the application segment during its forecast period with a projected revenue share of 25%. Whey protein’s high quality, quick absorption rate, and abundance of essential amino acids contribute heavily to this projection. Sports Nutrition Will Dominate
• Opportunities: Government initiatives promoting healthy lifestyles such as fitness programs and campaigns addressing obesity present great potential to expand the Whey Protein Market.
• Trending Factors: Whey protein consumption for functional food applications such as oatmeal-based breakfast bars and pancakes has seen significant growth over the years; this development could further spur market expansion.
• Regional Dominance: North America leads the Whey Protein market globally with 40% market share and more than double the revenue share over Asia-Pacific regions due to lifestyle-related diseases and awareness campaigns.
• Key Players in the Whey Protein Market include Alpavit, Hilmar Cheese Company, Glanbia plc and Nestle S.A – each competing by offering innovative new products or health initiatives to stay at the top of their market share.

Driving Factors

Rising prevalence of obesity

Almost every nation in the globe is affected by obesity, which is a serious public health issue. Over the past three decades, obesity rates have been steadily rising around the globe. By 2030, one billion people worldwide, including one in five women and one in seven men, will be obese, according to the World Obesity Atlas 2022, issued by the World Obesity Federation.

Both for men and women, the WHO Americas area continues to have the highest obesity rates. In contrast, Africa’s population is anticipated to triple by 2030, going from 8 million men and 26 million women, respectively, in 2010 to 27 million men and 74 million women in 2030, a 1.5-fold increase in comparison to the Americas. As whey protein helps to reduce cholesterol levels and promote weight loss, it is expected to stimulate the growth of the market during the estimated time period.

Increasing awareness about healthy lifestyle

A healthy lifestyle can be thought of as a way of life that reduces the likelihood of developing a serious illness. A healthy lifestyle can help people stay healthy and ward off mild as well as serious ailments. Healthy lifestyle choices, including maintaining a sensible diet, getting regular exercise, and quitting smoking, can significantly lower the chance of developing chronic diseases or conditions like coronary heart disease (CHD). Hence, more people are becoming informed about the advantages of leading a healthy lifestyle.

A 2022 Aditya Birla Health Insurance survey found that 84% of those polled in 19 Indian cities felt the epidemic had enhanced their knowledge of health and wellness problems. Seventy-five percent of surveyed people said that they have looked for and downloaded an app to keep track of their eating habits, exercise routines, and nutritional intake.

At the same time, the poll found that 68% of respondents, or two out of every three, consistently followed a diet plan. Thus, rising awareness about a healthy lifestyle is likely to fuel the demand for whey protein during the forecast period, as it plays an important role in enhancing nutrition.

Increasing demand for protein-rich foods

In recent years, the consumption of whey protein has increased as consumers become more aware of the products that meet their individual demands. A large section of the population worldwide finds it difficult or nearly impossible to consume a healthy diet daily due to their incredibly busy lifestyles, which has resulted in an increase in the use of whey protein.

The demand for foods high in protein is anticipated to increase since protein components are utilized in packaged foods and fortified foods to assist people in fulfilling their daily nutritional needs. Therefore, the rising demand for protein-rich foods is anticipated to impact market growth over the projection period positively.

Restraining Factors

Side-effects associated with whey protein

Some people may develop digestive issues such as bloating, gas, cramps, or diarrhea when taking whey protein. Lactose intolerance or sensitivity to dairy products may be to blame for this. Whey protein isolate or a lactose-free alternative can be a better option if you have a lactose intolerance.

The source of whey protein is milk, a common allergy. People who are allergic to milk should avoid whey protein or choose alternate protein sources, such as plant-based proteins that are free of allergens (such as soy, pea, hemp, or rice protein). Thus, side effects associated with whey protein may restrain the market growth during the projected time period.

High cost of whey protein

Whey protein can be relatively expensive compared to other protein sources, particularly if you opt for high-quality brands. This can be a disadvantage for individuals on a tight budget or those who rely heavily on protein supplementation. Therefore, the high cost of whey protein may limit the usage of these proteins and affect the market growth during the estimated time period.

Environmental issues and the growing popularity of plant-based products

The production of whey protein often involves intensive farming practices and significant water usage. This can contribute to environmental concerns like water pollution and greenhouse gas emissions. If sustainability is a priority for you, you may prefer to explore plant-based protein options.

The market expansion of whey protein will be constrained by the growing popularity of clean labels in both the food and cosmetics industries. Vegan and plant-based products largely protect the environment. Vegan cuisine has become incredibly popular in European nations. Whey protein consumption has been affected since vegan and plant-based goods can now satisfy the protein needs of a variety of consumer groups.

By Type Analysis

The Isolates Segment is the leading segment 

The concentrates segment dominated the market in 2022 with the largest revenue share of 38.5%. Whey protein concentrate market, or WPCs, are utilized in formulations for muscle gain and in processed cheese, baked foods, cereal, and nutrition bars. These concentrates are a heterogeneous mixture of several proteins and also contain lactose, lipids, and minerals.

Additionally, WPC is a low-cost substitute for caramel blending that has greater flavor and processability. Thus, easy affordability and use in multiple applications are key factors driving the growth of the segment during the forecast period.

On the other hand, the Isolates segment is expected to witness high growth during the estimated time period. A complete protein source is whey protein isolate. All nine of the Essential Amino Acids (EAAs) are abundant in them and are necessary for our muscles to grow and recover quickly. Because of its superior amino acid composition, whey protein isolate helps prevent muscle loss, improves athletic performance, aids in recovery, and encourages the formation of lean muscle. The segment growth is fuelled by rising consumer preferences for including proteins in everyday foods as well as increased demand for low-fat and high-protein weight-management products.

By Source Analysis

Organic whey protein dominates the market

The organic segment leads the source segment by accounting for a revenue share of 61% in 2022. Nowadays, many consumers over the globe are emphasizing fresh, organic, and unadulterated food intake to maximize the product’s health advantages. Thus, the organic whey protein market has experienced a significant demand in recent years. An increase in demand for natural ingredients is a key factor driving the growth of the segment.

The conventional segment is expected to witness steady growth at a high rate. The easy availability of conventional whey protein is a key factor due to which it is used in several applications. Manufacturers across the globe are focused on introducing cost-effective products so that they can be used in multiple industries. This major factor is predicted to drive the segment growth throughout the forecast period.

By Distribution Channel

Supermarkets and hypermarkets are witnessing the highest demand

The supermarket and hypermarkets segment is likely to witness the highest growth and is therefore expected to hold a revenue share of 28% in 2022. Supermarkets and hypermarkets have a strong presence in developed regions as well as emerging or developed regions of the world.

The availability of a wide range of this product in one location and the simplicity of purchase contributed to the domination of supermarkets and hypermarkets as distribution channels. On the other hand, online stores are growing at a rapid pace and are likely to grow at a high rate during the estimated time period.

Because of the convenience and price advantages afforded by these channels, consumers all over the world choose to buy fresh produce online. Furthermore, the market is expected to profit from the presence of a wide range of online shopping options in the coming years.

By Application

Sports nutrition accounts for the largest share

The sports nutrition segment is projected to dominate the application segment over the forecast period with a revenue share of 25%. Whey proteins are very well-known for their great quality, quick absorption, and high concentration of branched-chain and essential amino acids. They are, therefore, highly preferred whey protein ingredients market in the food and beverage products of the sports nutrition industry.

A convenient and easily accessible source of high-quality protein is whey protein. It aids in preserving skeletal muscle during normal aging and might also offer anabolic assistance during ill health, injury, and rehabilitation. The segment growth is anticipated to be driven by an increase in the usage of whey protein in several sports nutrition and weight management products, such as bars, powders, etc., as well as a rise in the number of fitness centers recommending protein supplements.

Moreover, the dietary supplements segment is anticipated to experience high growth over the projected time period. A significant dietary source of vital proteins and amino acids is whey protein. In comparison to all-natural foods, it has more protein. Whey protein is strongly advised for females who require additional protein in their diets. Consumers can add more protein to their regular or usual diet safely and effectively by using different whey protein powders and supplements. It is an excellent source of protein that our bodies easily assimilate. As whey protein can play a crucial role in different dietary supplements, it is likely to stimulate the growth of the segment during the projection period.

Key Market Segments

Type

• Isolates
• Concentrates
• Hydrolysates

Source

• Organic
• Conventional

Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Stores
• Other Distribution Channels

Application

• Sports Nutrition
• Dietary Supplements
• Infant Formula
• Food Processing
• Beverages
• Other Applications

Opportunity

Government initiatives promoting a healthy lifestyle

Various governments around the globe are launching different programs and initiatives to promote fitness and a healthy lifestyle. For instance, the Chinese State Council announced the release of the National Fitness Plan in July 2021, which contains challenging objectives for Chinese people that they are expected to achieve by the year 2025. These objectives include increasing the number of people who exercise regularly to 38.5 percent, up 1.3 percentage points from the previous five-year plan released by the State Council.

Public Health England (PHE) also began the most recent Better Health campaign in July 2021 to motivate adults across the country to reduce excess weight, eat healthier, and exercise more in the summer. The new initiative provides free, evidence-based support and direction to people trying to lose weight. Thus, implementing such key health awareness programs and initiatives by several governments worldwide is anticipated to fuel the demand for whey proteins and open many opportunities for the market in the coming years.

Trending Factors

Rising use of whey protein in functional foods

Foods that people have always appreciated, like oats and pancakes, are increasingly being made with whey protein. This is a typical answer to the problem of getting enough of what science tells us is necessary: a good serving of protein at breakfast. Common foods become functional foods with whey protein supplementation that are beneficial for humans physiologically and nutritionally. People can use it in their own kitchens, and large food producers and sports nutrition firms are both heavily utilizing whey protein in their products. It is a promising trend that is expected to fuel the demand for whey protein and positively impact market growth in the upcoming years.

Regional Analysis

North America leads the Global Whey Protein Market by Holding Major Revenue Share in Account

North America is anticipated to hold the market’s largest share of 40% during the forecast period. The rising incidence of lifestyle-related disorders, combined with rising consumer health awareness, are key factors that are likely to fuel the market growth in the region. Furthermore, the majority of the population has joined gyms and fitness centers that promote protein supplements, including whey protein as a vital element, which is another factor that is anticipated to drive market growth in the region over the forecast period.

Furthermore, due to its antihypertensive and antibacterial qualities, whey protein is being used in the preparation of dairy products, cereals, beverages, chocolate, bakery goods, etc., consequently increasing its overall demand in the region. Also, the launch of new products and implementation of strategic initiatives by key market players are expected to contribute to the growth of the market in the region.

Also, Asia-Pacific is likely to witness high growth during the projection period. This is a result of growing exports and domestic demand for dairy-based protein components like casein and whey. Thanks to easy access to raw materials, China is one of the world’s top manufacturers of proteins derived from dairy. In addition, a rise in India’s number of exercise facilities paired with a rise in consumer health consciousness is anticipated to fuel the region’s growth during the projection period.

Key Regions and Countries

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Players Analysis

The global Whey Protein market is moderately competitive, as major key players account for a large share of the overall revenue. The market is growing at a significant rate due to rising demand for nutritional and immunity-boosting foods.

Also, new initiatives implemented by several players promoting the health benefits offered by whey protein are one of the main factors boosting competition among major industry players. Additionally, new strategic agreements, mergers and acquisitions, and the launch of new products by key market players will likely positively impact market growth in the upcoming years.

Top Key Players

• Alpavit
• Hilmar Cheese Company, Inc.
• Glanbia plc
• Wheyco GmbH
• Davisco Foods International, Inc.
• Nestle S.A
• Arla Foods
• Saputo Inc.
• Olam International
• Abbott
• Leprino Foods Company
• Other Key Players

Recent Developments

• In September ’22, whey protein concentrates in the flavors of vanilla and chocolate were added to the product portfolio of Dyet Nutrition, an Indian nutritional supplement company. This launch aims to offer high-quality supplements to fitness enthusiasts like gymnasts, bodybuilders, etc., who frequently require health and immunity-boosting elements.
• In July ’22, a new animal-free whey protein powder named Whey Forward was introduced by Myprotein and Perfect Day in collaboration. The animal-free whey protein used in Perfect Day’s Whey Forward is precisely fermented to produce an identical whey protein from microflora rather than animal sources. The vegan protein will be offered in three kinds: luscious chocolate brownie, rich salted caramel, and creamy mint chocolate chip.

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