Whey protein is considered as a complete protein supplement as it is composed of all the nine essential amino acids. These proteins are versatile in their usage and find wide number of applications extensively in infant formulae, bakery & confectioneries, and dairy products. Moreover, functional beverages, such as sack and wine, employ whey as a major ingredient in their production processes. Whey proteins are a mixture of spheroproteins, which are derived from whey during the production of cheese. Whey is traditionally formed by the watery portion of milk when separated from curd. Whey is denatured under extreme heating conditions and then pasteurized further, which leads to the formation of a protein gel.
The market for whey protein ingredients has considerably grown in the recent past due to rapid consumption of whey protein in sports nutrition and in bakery and confectionery products. The global whey protein ingredients market was valued at $8,216 million in 2015, and is projected to reach $15,037 million by 2022, growing at a CAGR of 9.2% from 2016 to 2022. This is attributed to rapid growth of applications, increase in demand for whey protein ingredients from beverage industry, rapid growth of the dairy products, and rise in investments in processing of meat products.
At present, the global whey protein ingredients market witnesses vivid opportunities due to the increase in demand for dairy ingredients/alternatives among consumers globally. Moreover, increase in use of whey protein ingredients as wellness trend is another key factor that augments the growth of the global whey protein ingredients market. Also, increase in popularity of whey supplements among youngsters as well as pediatric milk segments especially in emerging economies along with advancements in the production technologies are some key factors that accelerate the growth of the global market. In addition, increase in the demand for high quality protein supplements by food industry is another key element that drives the global whey protein ingredients market. Furthermore, Asia-Pacific and Latin America fuel the overall demand for whey protein ingredients owing to increase in number of working women and health conscious population. However, undefined regulatory guidelines, fluctuating milk prices, as well as issues associated with increase in number of diseases among animals are some of the key elements anticipated to hamper the growth of the market during the forecast period.
The global whey protein ingredients market is segmented based on type, applications, and geography. Based on type, the market is classified into whey protein concentrates (WPC), whey protein isolates (WPI), hydrolyzed whey protein (HWP), and demineralized whey protein (DWP). WPC is further sub segmented into whey protein concentrates 80 and 35. The whey protein concentrate segment dominated the global market in 2014, and is anticipated to maintain its dominance throughout the forecast period. Based on application, the market is divided into bakery & confectionery, dairy products & frozen foods, sports nutrition, beverages, meat products, medicine, and others (personal care and infant nutrition). The sports nutrition application segment is estimated to grow at a significant CAGR of 10.3% during the forecast period. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North-America accounted for more than one-third share of the total revenue in 2015, followed by Europe and Asia-Pacific.
Leading market players have largely invested in R&D activities to develop advanced products to cater to the demand for end users. The major players in the whey protein ingredients market include:
KEY BENEFITS FOR STAKEHOLDERS
Whey Protein Ingredients Market Key Segments:
Other players in the value chain (profiles not included in the report) include:-
*The above list of companies is not profiled in the report, but can be added based on client interest.
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