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Whey protein ingredients Market
According to Market Research Future (MRFR), the global whey protein ingredient market is expected to acquire a significant market value while expanding at a CAGR of 8.9% during the evaluation period from 2017 to 2023.
The inclination towards sports and fitness can surge the demand for protein as dietary supplements, which is projected to be a significant factor driving the whey protein ingredient market in 2020. The growing demand for whey protein in infant food formula is likely to drive the market during the forecast period. The rising awareness about benefits of whey protein is projected to escalate the demand for the product and strengthen the market. Furthermore, COVID-19 is expected to boost the demand for whey protein due to the increased awareness among people to boost their immunity, which can augment the market.
However, the growing preference for a vegan diet is likely to hamper the market growth during the forecast period. On the contrary, the adoption of advanced processing methods and technologies are anticipated to aid why protein demand, which can boost the market growth.
Key Players
The eminent players of the global whey protein ingredients market Size are Omega Protein Corporation (U.S.), Fonterra Co-operative Group Ltd. (New Zealand), Hilmar Cheese Company, Inc. (U.S.), Arla Foods amba (Denmark), Archer Daniels Midland Company (U.S.), Wacker Chemie AG (Germany), Associated British Foods plc (U.K), Carbery Food Ingredients Ltd.(Ireland), Cargill Inc. (U.S.), and Davisco Foods International, Inc. (U.S.).
Market Segmentation
The segmental analysis of the global whey protein ingredients market Size is done by application and type.
The application-based segments of the global whey protein ingredients market Size are dairy and frozen desserts, bakery and confectionery, snacks, beverages, sports nutrition, meat products, and others. Among all, the sports nutrition segment is projected to dominate the market due to the growing demand for functional food products among athletics.
The type-based segments of the global whey protein ingredients market Size are whey protein isolate, whey protein concentrate, hydrolyzed whey protein, demineralized whey protein, and others. Among all, the hydrolyzed whey protein segment is expected to dominate the market due to the presence of high protein content used in sports nutrition products.
Regional Analysis
Based on the region, the global whey protein ingredients market size is segmented into North America, Asia-Pacific, Europe, and the Rest of the World (Row).
As per the analysis, North America is expected to acquire the largest market share during the forecast period. The growing health-consciousness among consumers is likely to be a significant factor in driving the regional market. Furthermore, the consumption of protein products in food and beverages is anticipated to be another key factor, expanding the market.
APAC is anticipated to be the fastest-growing market during the review period. The growing awareness regarding protein supplements is projected to be a significant factor in expanding the regional market during the projection period. Furthermore, the presence of emerging nations like India, China, and Japan are likely to play an important role in expanding the regional market.
Europe market is likely to acquire a significant market share during the forecast period owing to the growing awareness about whey proteins. The U.K. and Germany are expected to play a substantial role in strengthening the regional market.
The MEA region is likely to procure a small market share during the projection period due to the slow development in the region. However, increasing awareness about the benefits of whey protein is predicted to augment the market during the forecast period.
Browse Full Report Details: https://www.marketresearchfuture.com/reports/whey-protein-ingredients-market-5122
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