Global Whey Protein Market to Reach US$ 6.5 Billion by 2028, Accelerated by Shifting Consumer Preference Toward Healthy and Nutritious Diets

April 07, 2023 | Food & Beverages

As per the latest report by IMARC Group, titled "Whey Protein (Powder and Concentrate) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global whey protein market size reached US$ 5.1 Billion in 2022. 

Whey protein is a supplement derived from milk, specifically the liquid portion that is separated during cheese production. It is a complete protein that contains all the essential amino acids needed by the body. It is made through filtration and drying processes, where the liquid whey is first separated from the cheese curd and then filtered to remove any impurities. The resulting liquid is spray-dried to create a powder that can be used in various applications. It is a rich source of protein and contains high amounts of leucine, an essential amino acid important for muscle protein synthesis. Additionally, it is low in carbohydrates and fat, making it an ideal supplement for increasing protein intake without adding extra calories. Whey protein offers additional health benefits, including improved muscle growth and recovery and increased strength and endurance. It also helps lower blood pressure and reduce inflammation. As compared to other types of protein, whey protein has a higher biological value, gets absorbed by the body quickly, and is easier to digest, making it an ideal post-workout supplement. Currently, there are several types of product variants available, including whey protein concentrate, whey protein isolate, and hydrolyzed whey protein. 

Global Whey Protein Market Trends: 

 The global demand for whey protein is on the rise due to the increasing purchasing power of consumers and the shifting preference toward healthy and nutritious diets. This is further supported by the burgeoning food and beverage (F&B) industry, wherein it is incorporated in shakes, confectionaries, muffins, pancakes, and spreads. Moreover, the rising awareness about the health benefits of whey protein and the increasing health consciousness among the masses are driving the market growth. Additionally, the surging product application to manufacture baby food and infant formula and the escalating consumption of dietary supplements for maintaining overall health are favoring the market growth. In line with this, key product manufacturers are introducing novel product variants in innovative flavors, such as coconut, caramel, chocolate, cranberry, and coffee, to expand their product portfolio, which, in turn, is accelerating the market growth. Looking forward, the market value is projected to reach US$ 6.5 Billion by 2028, expanding at a CAGR of 4.2% during 2023-2028. 

Market Summary: 

  • By the type, the market is divided into whey protein concentrate, whey protein isolate, and whey protein hydrolysates. Among these, whey protein concentrate exhibits a clear dominance in the market.
  • Based on the application, the market is segregated into food and beverages, nutrition products and pharmaceuticals, feed applications, and others. At present, nutrition products and pharmaceuticals represent the largest application.
  • On the basis of region, the market is categorized into European Union, North America, Oceania, Eastern Europe, Latin America, and others. Currently, European Union holds the majority of the global whey protein market share.
  • The competitive landscape of the industry has also been examined with some of the key players being Arla Foods, Agropur Inc., Hilmar Cheese Company, Inc., Glanbia Plc, Kerry Group Plc, Milk Specialties Global, Leprino Foods Company, Carbery, Grande Cheese Company, and Lactalis Group.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units Million Tons, US$ Billion
Segment Coverage Type, Application, Region
Region Covered European Union, North America, Oceania, Eastern Europe, Latin America, Others
Companies Covered Arla Foods, Agropur Inc., Hilmar Cheese Company, Inc., Glanbia Plc, Kerry Group Plc, Milk Specialties Global, Leprino Foods Company, Carbery, Grande Cheese Company and Lactalis Group
Customization Scope 10% Free Customization
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Global Whey Protein Market to Reach US$ 6.5 Billion by 2028, Accelerated by Shifting Consumer Preference Toward Healthy and Nutritious Diets
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