Whey Protein Market Size, Share, Industry Growth, Report 2023-2028

 The latest report by IMARC Group, titled “Whey Protein (Powder and Concentrate) Market Report by Type, Application, and Region 2023-2028 “, offers a comprehensive analysis of the industry, which comprises insights on the global whey protein market share. The global whey protein (powder and concentrate) market size reached US$ 5.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

Factors Affecting the Growth of the Whey Protein Industry:

• Expanding Applications in the Food and Beverage Industry:

In recent years, whey protein has surpassed its traditional role as a supplement and is now widely used in various food and beverage products. Its versatility and ability to enhance the nutritional profile of numerous consumables have made it a highly sought-after ingredient. From protein bars and shakes to dairy alternatives and savory snacks, whey protein's presence is rapidly expanding across the culinary landscape. This diversification of applications in the food and beverage sector broadens its market reach, thus favoring the growth of the whey protein industry.

• Rise in Sports and Fitness Activities:

The whey protein market is majorly driven by the expanding sports and fitness industry. People around the globe are increasingly engaging in sports, workouts, and physical activities at an unprecedented rate. Moreover, whey protein supplements have gained immense traction as a valuable aid for athletes, fitness enthusiasts, and those seeking to lead an active lifestyle. Whey protein aids in muscle recovery, growth, and performance enhancement. This increase in fitness-related activities contributes significantly to the escalating demand for whey protein, thus fueling market growth.

• Increasing Health Consciousness:

The whey protein market significantly benefits from the prevailing trend of heightened health consciousness among consumers. With a growing emphasis on maintaining a healthy lifestyle, individuals are actively seeking products that can support their wellness goals. Whey protein stands out owing to its excellent protein content and essential amino acids. It is widely recognized for its role in muscle development, weight management, and overall health improvement. This awareness catalyzes the demand for whey protein products, thereby stimulating market growth.

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Global Whey Protein Market Trends:

The whey protein market is primarily driven by the increasing health consciousness among consumers. This, in turn, has augmented the demand for whey protein products as they are recognized role in muscle building, weight management, and overall well-being. Apart from this, the rise in sports and fitness activities worldwide is propelling market growth as athletes, fitness enthusiasts, and the general population incorporate whey protein supplements into their routines for performance enhancement and recovery. Furthermore, the emerging applications of whey protein in numerous food and beverage products, such as protein bars, shakes, and dairy alternatives, is contributing to market growth.

Whey Protein Market Report Segmentation:

By Type:

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

Whey protein concentrate represented the leading segment due to its cost-effectiveness and versatility in various food and beverage applications.

By Application:

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

Nutrition products and pharmaceuticals represented the largest segment as they benefit from whey protein's high-quality protein content and its role in supporting overall health and wellness.

Regional Insights:

• European Union
• North America
• Oceania
• Eastern Europe
• Latin America
• Others

European Union’s dominance in the whey protein market is attributed to the region’s strong dairy industry, consumer awareness of protein benefits, and a rising sports and fitness culture.

Competitors Landscape with Key Players:

• 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

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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