Los Angeles, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The North America whey protein market has generated revenue share of 38% in 2022. The outbreak of the COVID-19 pandemic had some impact on the whey protein industry. The restrictions on trade and constant lockdowns had hampered the whey protein market growth. Even though the demand for products that could boost the immunity of individuals was increasing the manufacturing of such products had come to a standstill. Post-pandemic the intake of protein supplements and other quality foods has grown to a great extent and this trend will continue to grow during the forecast period. In the estimated time frame the product is expected to see growth because of its use in personal care products.
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Regional Snapshots
Daily intake of protein in the North American region has grown significantly as the awareness about quality food products and the concerns relating to lifestyle disorders have increased in recent times. Whey protein in the form of powder is consumed on a large scale in North America. These powders are easy to use, and they are more convenient as compared to any other form of whey protein. The growing preference for such products and the consumer taste will provide good opportunities for the growth of the market in this region.
Reasonable growth will be registered in the European market as several factors have put more emphasis on a healthy lifestyle. Preventive Healthcare is one of the factors leading to the growth of the whey proteins market. In the countries like France, Germany, and the UK the demand for supplements has increased to a great extent. Protein powders derived from natural sources have more demand as they are less harmful when consumed for a prolonged period. As the number of imports of such animal proteins is expected to increase in the coming years the market is expected to show constant growth.
The fastest growth will be registered in the Asia Pacific region as the demand for this ingredient in various applications has increased. The geriatric population in the Asia Pacific region has also grown to create more demand for protein supplements.
Report highlights
The use of whey protein in the form of concentrates has seen significant growth in recent times due to an extensive application of this product in various verticals. Whey protein in the form of isolates is also finding more applications in various industries. The use of these concentrates and isolates in the food industry and beverages industries has grown significantly.
Whey proteins are consumed on a large scale by sports players and athletes. This product, in the form of functional food and dietary supplement, plays a significant role in building muscle. The sales of the products through specialty stores and hypermarkets/supermarkets are expected to be maximum.
Attractive offers and discounts provided on the online platforms will lead to increased sales of these products through the online channel. The popularity of the product among lifestyle users has also increased due to an increase in awareness regarding the benefits of these products and their easy availability.
Recent developments
- In 2019 a medical beverage that was whey protein based was introduced by Arla Foods. This product was launched to meet the needs of clinical nutrition of low volumes of proteins and other nutrients
- Optipep 4Power was introduced by a nutrition expert group Carbery in 2020 in a hydrolyzed form. This product will help in meeting the need for high-intensity training. It will provide more power as compared to the other products available in the market.
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Scope of the Report
| Report Attributes | Details | |
| Market Size in 2022 | USD 12.41 Billion | |
| Revenue Forecast by 2032 | USD 21.36 Billion | |
| CAGR | 5.58% from 2023 to 2032 | |
| North America Market Share in 2022 | 38% | |
| Europe Market Share in 2022 | 28% | |
| Base Year | 2022 | |
| Forecast Year | 2023 to 2032 | |
| Key Players | Glanbia plc., Nutiva Inc, The Simply Good Food Co, Now Health Group, Inc., MusclePharm Corporation, Kerry Group Plc, Iovate Health Sciences International Inc., The Nature's Bounty Co., Reliance Vitamin Company, Inc., CytoSport, Inc., Danone SA, General Nutrition Centers (GNC) Holdings, Inc., Herbalife Nutrition, Inc., Orgain Inc., True Nutrition and Others | |
Market dynamics
Drivers
Lifestyle-related disorders and illnesses are becoming prevalent in most nations across the globe due to which the need for healthy food products has also grown. Whey protein is one such food product that helps in meeting the need for a balanced diet. Wellness centers and gyms are constantly suggesting protein supplements due to which the preference of the buyers towards such protein supplements has grown considerably. Antihypertensive properties and antibacterial properties of whey protein are making it a more lucrative option for usage in various applications. Extensive use of whey protein in baked goods, dairy products, beverages, chocolate, and cereals will drive market growth. The shelf life of whey protein is more as compared to the other protein powders available in the market and this unique property provides it with a better market reach. Transportation is also easy as it is less perishable and provides more growth opportunities.
Restraints
Consumer awareness amongst fitness enthusiasts and athletes is growing due to which the need for plant-based protein powders and vegan products has grown significantly in recent times. Plant proteins provide necessary amino acids and happen to be a great substitute for whey proteins. They help to meet all the needs of the consumer. Plant-based proteins have great potential and they are expected to substitute animal protein in the long run due to which the growth of the whey protein market will be restricted.
Opportunities
Consumption of whey protein helps in meeting the dietary requirements of a person by providing necessary carbohydrates, fats, vitamins, and minerals in adequate quantities. A single dietary product helps in gaining proper strength and muscle mass. It helps in enhancing the performance of athletes and weightlifters. It increases endurance and provides overall well-being. It provides great support and perseverance for muscle-building activities. Inadequate consumption of minerals, vitamins, and proteins is a growing concern amongst the population, that has a hectic lifestyle. The introduction of this product in the market has helped in meeting all the requirements of the consumers, and this is expected to provide maximum growth opportunities during the forecast period.
Challenges
One of the major challenges that the industry faces is the high cost of this product. The consumption of this product in underdeveloped countries or developing nations could be hampered to a great extent due to the cost factor. The availability of other products that are budget friendly will prove to be a better substitute for an expensive product providing the same amount of protein and other nutrients.
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Market Segmentation
By Type
- Isolates
- Concentrates
- Demineralized
- Hydrolysate
By Application
- Nutritional
- Personal Care
- Food
- Feed
- Infant Formula
- Sports and Performance Nutrition
- Functional/Fortified Food
By Distribution channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Other Distribution Channels
By End Users
- Athletes
- Bodybuilders
- Lifestyle Users
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
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