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:

  • Health and Wellness Trend:

The growing worldwide focus on health and wellness is a major factor fueling the whey protein market. With more people placing importance on staying fit, managing weight, and eating nutritiously, the demand for whey protein is soaring. Renowned for its top-notch protein content and amino acid profile, whey protein is highly sought after by athletes and health-conscious individuals looking to boost their protein intake for muscle upkeep, immune system reinforcement, and overall health improvement. This enduring interest in healthy living has led to the development of diverse whey protein-fortified products that appeal to a broad audience and easily fit into daily diets.

  • Expansion into New Market Segments:

The expansion of whey protein is greatly boosted by its entry into new market areas such as elderly nutrition, baby formula, and medical nutrition. Its rich amino acid profile makes it perfect for assisting the elderly, promoting infant development, and aiding in patient healing. Companies are capitalizing on these markets by creating tailored products that cater to the specific dietary requirements of these demographic groups. This calculated diversification widens the customer reach and improves the versatility of the ingredient in various life phases and health situations, ultimately fueling market expansion.

  • Innovative Product Development:

Advancements in developing product formulations and enhancing flavors play a crucial role in driving the whey protein industry forward. Businesses are constantly seeking out innovative technologies to enhance the solubility, taste, and texture of whey protein products, aiming to broaden their appeal to a larger demographic. The emergence of plant-based and organic variations of whey protein meets the demands of an increasing number of consumers seeking natural, ethically sourced, and eco-friendly nutritional choices. These advancements align with changing consumer preferences for healthier, environmentally sustainable, and convenient nutrition options, playing a significant role in the industry's growth path.

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

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/whey-protein-powder-and-concentrate-market/requestsample

Whey Protein Market Report Segmentation:

By Type:

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

Whey protein concentrate dominates the market due to its widespread popularity, versatile applications in food and beverages, affordability, and balanced composition of proteins, fats, and carbohydrates, making it highly sought after in both fitness and general health markets.

By Application:

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

Nutrition products and pharmaceuticals represent the largest segment as whey protein is extensively utilized for its high-quality protein content, supporting muscle development, weight management, and overall health, alongside its growing incorporation in medical supplements and therapeutic products.

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 whey protein market is thriving globally due to the growing awareness of health and wellness among consumers and the increasing popularity of protein-rich diets. A noticeable shift towards fitness and active lifestyles has driven up the demand for whey protein as a vital supplement for muscle growth, recovery, and overall health improvement. Whey protein's versatility is also on the rise, as it is now being used in a variety of products beyond sports nutrition, such as functional foods, beverages, and infant formula, attracting a wider range of consumers looking for nutritional benefits. Moreover, advancements in product development have resulted in a wide selection of whey protein products that cater to various tastes and dietary preferences, driving further expansion in the market.

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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