Rockville, May 01, 2023 (GLOBE NEWSWIRE) -- Whey protein concentrate consumption has many positive health effects for the body. The size of the global whey protein concentrate market is anticipated to be US$ 3.9 billion in 2023 and US$ 6.7 billion by the end of 2033. From 2023 to 2033, the market is expected to grow at a CAGR of 5.5%.
It is readily digested and absorbed by the body. It also increases muscle content, which fuels bodily strength, and lowers the risk of cardiovascular diseases. Working professionals are becoming more health conscious as a result of the rising prevalence of lifestyle diseases, which is assisting in the market's expansion.
The market is growing as a result of consumers' rising interest in protein-rich foods and beverages, nutritional supplements, and prepared meals.
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Market Drivers:
- The growing awareness about the importance of protein in maintaining a healthy lifestyle and promoting muscle growth has led to an increased demand for protein-rich products. Whey protein concentrate, with its high protein content, is favored by fitness enthusiasts, athletes, and individuals seeking to enhance their nutritional intake.
- With a greater emphasis on personal health and fitness, more people are engaging in regular exercise and adopting healthier lifestyles. Whey protein concentrate offers a convenient and efficient way to meet protein requirements, aiding muscle recovery and supporting weight management goals.
- The sports nutrition industry has experienced significant growth in recent years, driven by increased participation in sports and fitness activities. Whey protein concentrate is a key ingredient in many sports nutrition products, including protein powders, bars, and ready-to-drink shakes, further boosting its market demand.
- The food and beverage industry continually seeks innovative ingredients to enhance the nutritional value and functionality of products. Whey protein concentrate finds applications in various food and beverage categories, including bakery, confectionery, dairy, beverages, and snacks. The industry's drive for product diversification and nutritional enrichment fuels the demand for whey protein concentrate.
- The growing number of individuals following vegetarian or vegan diets has created a demand for plant-based protein alternatives. However, whey protein concentrate derived from milk remains a popular choice due to its complete amino acid profile and superior nutritional properties, even among non-dairy consumers.
- The rise of e-commerce platforms and online retail has facilitated easy access to whey protein concentrate products. Consumers can conveniently purchase a wide range of whey protein concentrate-based products online, contributing to market growth.
Restraints
- The cost of whey protein concentrate is subject to price fluctuations due to factors such as raw material availability, processing costs, and market demand. Price volatility can make whey protein concentrate less affordable for some consumers, particularly in price-sensitive markets, limiting its adoption.
- While whey protein concentrate is a popular and widely used protein source, it faces competition from alternative protein options such as plant-based proteins (e.g., soy, pea, rice) and other animal-based proteins. The growing availability and variety of these alternatives provide consumers with choices and may divert some demand away from whey protein concentrate.
- Whey protein concentrate is derived from milk, making it unsuitable for individuals with lactose intolerance or milk allergies. Some consumers may experience digestive issues or allergic reactions when consuming whey protein concentrate, limiting its use among certain population segments.
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Key Market Trends:
- The demand for protein supplements, including whey protein concentrate, continues to rise as consumers increasingly recognize the importance of protein in their diets. This trend is driven by factors such as fitness and athletic pursuits, weight management goals, and the desire for convenient and effective nutritional solutions.
- Whey protein concentrate is finding applications beyond traditional protein supplements. It is being incorporated into a wide range of functional food and beverage products, including energy bars, protein shakes, sports drinks, dairy products, bakery goods, and snacks.
- Consumers are increasingly seeking products with clean labels, meaning they are free from artificial additives, preservatives, and excessive processing. Whey protein concentrate manufacturers are responding to this trend by offering products with minimal ingredient lists, natural flavorings, and organic or non-GMO certifications to meet the demand for cleaner, more natural products.
- Sustainability is a significant trend in the food industry, and whey protein concentrate manufacturers are taking steps to reduce their environmental impact. This includes implementing sustainable sourcing practices, reducing packaging waste, and investing in energy-efficient production methods.
Competitive Landscape:
Key vendors in the market are focusing on various varieties of protein concentrate with a 50-80% ready-to-use protein concentration. Moreover, key players are engaged in expanding production capacities to meet the global demand for whey protein concentrate. Moreover, manufacturers have been incorporating additional ingredients such as probiotics, vitamins, minerals, and antioxidants to enhance the health
For instance,
- In 2021, Arla Foods released a five-year plan to solidify its commitment to developing ecologically friendly dairy production and to expand the company sustainably.
- In 2022, the renowned Indian nutritional supplement producer Dyet Nutrition unveiled a brand-new range of whey protein concentrates in the flavors of vanilla and chocolate. benefits and nutritional profile of their whey protein concentrate offerings.
Key Companies Profiled
- Saputo Inc.
- Glanbia plc
- Alpavit
- Arla Foods
- Carbery Group
- Nestle S.A.
- Davisco Foods International, Inc.
- Milkaut SA
- Abbott
- Leprino Foods Company
- Maple Island, Inc.
- Nutricia
- Olam International
- Sanofi S.A
Key Segments of Whey Protein Concentrate Industry Research
- By Composition:
- WPC - 35
- WPC - 80
- By Form:
- Powder
- Cream
- By Nature:
- Organic
- Conventional
- By End Use:
- Infant Formula and Baby Foods
- Dietary Supplements
- Food Processing
- Sports Nutrition
- Beverages
- Others (Animal Feed, Clinical Nutrition, etc.)
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Whey Protein Concentrate Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Whey Protein Concentrate sales grow until 2033?
- Which are the factors hampering the Whey Protein Concentrate demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Whey Protein Concentrate Market during the forecast period?
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Concentrate Protein Market Size: The concentrate protein market is expected to garner a market value of US$ 13 Billion by the end of 2028. North America is expected to possess 35% market share for concentrate protein market in the forecast period 2018-2028.
Soy Protein Hydrolysate Market Share: The global soy protein hydrolysate market is projected to embark on a positive growth trajectory, clocking a CAGR worth 5% across the 2021-2031 forecast period. As of 2021, Fact.MR anticipates sales of soy protein hydrolysates to be valued at over US$ 1 Bn, expected to further reach US$ 1.64 Bn by the end of the aforementioned decade.
Deproteinized Whey Market Revenue: The global deproteinized whey market currently stands at a valuation of US$ 5.14 billion and is anticipated to transcend a revenue of US$ 8.91 billion by the end of 2032. Worldwide sales of deproteinized whey products are projected to increase at a CAGR of 5.6% from 2022 to 2032.
Textured Soy Protein Market Sales: Latest released industry analysis on the textured soy protein market by Fact.MR estimates global sales of textured soy protein at US$ 880 Mn at present, which is expected to witness a CAGR 6.4% to surpass a value of US$ 1.6 Bn by 2031.
Protein Supplements Market Demand: The valuation of the global protein supplements market is US$ 22.3 billion in 2023. Global demand for protein supplements is expected to reach a market valuation of US$ 41.1 billion by 2033, increasing at a CAGR of 6.3% over the next ten years.
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