Global Whey Protein Market Analysis and Future Strategies With CAGR Of 7% Between 2017-2026
The global whey protein market was valued at US$ 9,184.9 million in 2017, and is expected to register a CAGR of over 7%. The report offers in-depth insights, revenue details, and other vital information regarding the global whey protein market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026.
Whey protein is one protein found in milk, when a coagulant is added to milk, the casein and whey separate. Whey protein is the water-soluble part of milk. Whey protein absorb faster as compared to other protein. Furthermore, it increases muscle protein synthesis used to break a fasted state. Whey protein is commonly used for improving athletic performance and it is mostly consumed as a dietary supplement.
Increasing popularity of whey protein consumption especially for mass gain, strength gain, and weight loss in various countries globally are major factor driving growth of the global whey protein market. In addition, whey protein acts an alternative for people who are lactose intolerance which in turns aid the growth of the global whey protein market significantly over the forecast period.
Collaboration of companies with leading research institutions and universities to create unique and high quality whey protein is expected to create high potential revenue opportunities for existing as well as new entrants in the target market.
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The global whey protein market is segmented on the basis of type, application, and region.
On the basis of type segmentation, whey protein hydrolysates segment is expected to contribute major revenue share and maintain its dominance over the forecast period. Whey protein hydrolysates witness highest CAGR of 8.0%, owing increasing popularity of whey protein consumption in preventing weight gain, obesity and further increases muscle strength.
Among all the application segments, dietary supplements segment is expected to register highest CAGR of 8.1% owing to gaining importance of whey protein among sportsmen and body builders as its provides balanced nutrition.
Whey protein is complete nutrition for weight loss as it decreasing the levels of the hunger hormone. Whey protein is one of best known body supplement and is used extensively by body builders, as it mixes with blood more rapidly as compared to other protein drinks.
North America market is expected to dominate the global whey protein market, and accounts for largest market revenue share of US$ 3,166.1 million in 2017 as compared to that of markets in other regions. Dominance by North America market is expected to continue over the forecast period with comparatively higher CAGR than that of other regions owing to higher demand from consumers in countries such as the US and Canada. Other factors include presence of leading whey protein manufacturers in these countries, and an increasing consumer base adopting of whey protein for various application in countries in this region.
Furthermore, increasing supplier and distributor in US as the products being easily available through club stores and online sources to mainstream consumers and casual user are major factor fueling growth to the North America whey protein market and this trend is expected to continue in future.
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Some prominent players in the global whey protein market include Arla Foods, Axiom Foods Incorporation, Davisco Foods International Inc., DMK Group, Glanbia Plc, Hilmar Cheese Company, Kerry Group, Maple island Inc., Milk Specialties Global, Westland Co-operative Dairy Company Limited