According to the report, published by Zion Market Research, the global Whey Protein market accounted for USD 8.2 billion in 2015 and is expected to reach USD 12.4 by 2021, growing at a CAGR of around 7.2% between 2015 and 2021.
Whey is the liquid portion of the milk that separates from the curd, during the process of cheese production. Due to its strong amino acid profile and ease of absorption, it is perhaps the most popular dietary supplement. Whey contains proteins, fats, carbohydrates, vitamins, and minerals. Whey protein has been shown to enhance muscle protein synthesis, support fat burning, boost the immune system and improve insulin sensitivity. Additionally, whey concentrate is shown to boost production of glutathione, the body’s popular antioxidant.
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The global whey protein market was expected to witness the highest growth over the forecast period due to increase the percentage of elder age people across the globe. Moreover, the rise in trend of the health club and fitness center are expected to drive the whey protein product market in the near future. In addition, the keen interest of young generation towards sports & nutrition will probably increase the demand for whey protein over the years. Additionally, carrying chicken or fish isn’t convenient when compared with whey protein drink which is more ease in carrying.
On the basis of type, whey protein market bifurcated into Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI) and Hydrolyzed Whey Protein (HWP). In terms of revenue, WPC accounted for 27% of total whey protein market. In addition, Whey Protein Concentrate high in lactose and low in protein which affects the consumer buying behavior towards whey protein isolate and hydrolyzed whey protein. Whereas, hydrolyzed whey protein (HWP) segment was the leading segment in 2015. Growing keen interest and health awareness is another important driving factor that is expected to propel the hydrolyzed whey protein market within the forecast period.
In application segment, dietary supplement dominates the global whey protein market. Globally, 60% of whey protein market has been captured by dietary supplements segment. This growth is mainly attributed due to the presence of buying behavior of customers coupled with keen interest of fitness in the younger population. Pharmaceutical and clinical nutrition segment are expected to experience significant growth within the forecast period due to deficiency of protein in developing countries. To overcome the problem of protein deficiency medicated protein prescribed by nutritionist and healthcare consultant.
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In terms of geography, Europe was the largest market for whey protein in 2015 in terms of revenue due to the availability of fitness club and increase number of geriatric population in Europe. Moreover, whey protein market has a huge opportunity in emerging market like Asia Pacific, Latin America due to the rise in awareness, increase disposable income in the coming years. In addition, this region has an established customer base owing to the following of western lifestyle towards healthcare and technological advancements. Asia Pacific is a promising market and is expected to open gateways for manufacturers of whey protein over the years.
Key market players of whey protein market include American Dairy Products Institute, Arla Foods, Agropur MSI, DMK Group, Glanbia Plc and Westland Milk Products.
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