Market Overview
The increasing sale of whey is driven by the increase in demand for high protein-containing products. The sale of whey protein as a functional beverage is high amongst athletes. Whey is popular due to its application in infant food formula as it provides the necessary protein needed by the infant’s body. The rise in health concerns is one of the major factors contributing to the growth of the product. High demands of grab-and-go drinks are supporting the sale of whey protein beverages. In addition, the sale of powdered whey is anticipated to grow at a higher rate based on the higher shelf-life of the product.
Market Forecast
Globally the whey market share in the food and beverage industry is escalating by the rising demand for dairy products in developed countries. The consumption of whey is high based on the high protein content and nutritional value of the product. Whey is found to have multi-purpose applications in various other industries, amongst which the application in sports nutrition food and beverages is increasing at a higher rate. The high demand for ready-to-drink and Ready-to-eat protein supplements is supporting the sale of whey bars and whey functional protein drinks. These factors will play a key role in the growth of the Whey market at the CAGR of 6% during 2016-2022.
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Downstream analysis-
Whey is used as a protein supplement due to the high protein content which is about 50-80%. The usage of whey is increasing as it is rich in lactose, vitamins minerals and has high nutritional value. It is now being used unconventionally for the preparation of pizza dough, as a milk substitute, and in the preparation of rice to raise the portion of protein in these food products. Whey is extensively used in the production of functional beverages which is the most preferred option amongst athletes. The higher demand for whey is based on its wide application as a core ingredient and as a nutrient enhancer.
Competitive analysis-
The major key players in the whey market are
- Arla Foods (Denmark)
- Agropur MSI, LLC (U.S.)
- American Dairy Products Institute (U.S.)
- Westland Co-operative Dairy Company (New Zealand)
- Glanbia, Plc (Ireland)
- DMK Group (Germany)
- Davisco Foods Internation, Inc (U.S.)
- Milk Specialties Global (U.S.)
Key players in the Whey market are mainly located in North America and Europe. Key Players from Belgium, the U.S., and the U.K. are following strategies of merger and acquisition with small players to expand their business in other regions due to the increasing demand for whey as a dietary supplement. They are mainly focused on increasing their supply to established industries that have a high demand for high protein-containing food supplements.
Regional Analysis
The Global Whey Market is segmented into North America, Europe, Asia Pacific, and the rest of the world (ROW). Among these North, America region has the major market share followed by Europe. The U.S. is amongst the major producers of whey. Increasing demands for healthy bakery products are supporting the growth of the market in developed countries of North America and Europe region. Canada, Germany, China, the U.S., and the U.K. are the major importers of whey.
Market Segmentation-
Global Whey Market is segmented by source, form, type, application, and region
