Global Whey Protein Concentrate Market Overview:
As per MRFR analysis, the Whey Protein Concentrate Market Size was estimated at 10.21 (USD Billion) in 2022. The Whey Protein Concentrate Market is expected to grow from 10.43 (USD Billion) in 2023 to 12.71 (USD Billion) by 2032. The Whey Protein Concentrate Market CAGR (growth rate) is expected to be around 2.21% during the forecast period (2024 - 2032).
Key Whey Protein Concentrate Market Trends Highlighted
Emerging market trends in the Whey Protein Concentrate Market include growing fitness consciousness, increasing demand for personalized nutrition, and advancements in production technology.
The market is fueled by the rising trend of health and wellness, coupled with the growing popularity of whey protein as a high-quality dietary supplement for muscle recovery and growth.
Consumers are increasingly seeking convenient and tailored nutrition options, driving the demand for personalized whey protein blends that cater to specific needs and preferences.
Additionally, technological advancements have led to the development of innovative processing techniques, enhancing the quality, functionality, and versatility of whey protein concentrate in various applications.
These trends are anticipated to drive market expansion and create opportunities for key players to explore and capture emerging market niches.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Whey Protein Concentrate Market Drivers
Rising Demand for Protein-Rich Foods
There is an increasing trend among consumers to have protein rich food due to the increasing health consciousness among them. Whey Protein Concentrate is a rich source of protein and is highly demanded among the consumers especially among those who want to supplement protein in their diet.
The demand for whey protein concentrate is soaring high due to the popularity of protein-based diets in the market especially the Ketogenic diet and Paleo diet.
There is an increasing awareness among people of the health benefits associated with whey protein and its applications in muscle building, weight management and immune functions.
With the increasing demand for protein-rich foods, the Whey Protein Concentrate Market is expected to grow significantly in the next few years.
Growth of the Sports Nutrition Industry
Another vital factor driving the growth of the Whey Protein Concentrate Market is the booming sports nutrition industry. Whey protein concentrate is commonly used in sports nutrition products such as protein shakes, protein bars, and protein powders.
These are consumed by athletes and fitness freaks to increase muscle mass, enhance recovery after a rigorous workout, and maintain overall well-being.
As fitness and sports have become increasingly popular, the demand for sports nutrition products has skyrocketed. This, in turn, increases the demand for whey protein concentrate.
Expansion of the Functional Food and Beverage Market
The functional food and beverage market is experiencing rapid growth, which is positively impacting the Whey Protein Concentrate Market.
Whey protein concentrate is increasingly being used as an ingredient in functional foods and beverages, such as protein-fortified dairy products, baked goods, and snacks.
These products are designed to provide additional nutritional benefits beyond basic nutrition, such as improved satiety, enhanced muscle recovery, and reduced risk of chronic diseases.
The growing demand for functional foods and beverages is expected to continue to drive the demand for whey protein concentrate.
Whey Protein Concentrate Market Segment Insights:
Whey Protein Concentrate Market Form Insights
The Whey Protein Concentrate Market is bifurcated on the basis of form into liquid concentrate and powder concentrate. The liquid concentrate segment is expected to record a steady growth rate during the forecast period.
Some of the potential applications, where liquid concentrate can be used, are sports drinks and protein bars. It is also used in the production of infant formula and other nutritional products. The potential packaging formats for liquid concentrate include bulk tankers and drums.
The key factors, which may drive the growth of the liquid concentrate segment, are the solubility, ease of formulating, and blending within beverages.
The powder concentrate segment contributed to a larger market share in 2023 and is expected to witness dominance throughout the forecast period.
The factors anticipated to act as the growth drivers for the segment are the long shelf life, can be handled and stored easily and its long transportation reaches at a lower cost.
The powder concentrate is more versatile and can be used in a wider application such as bakeries and confectionery, protein shakes, smoothies. The appropriate packaging of powder concentrate may be a bulk bag in a box, pouches.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Whey Protein Concentrate Market Source Insights
The Whey Protein Concentrate Market is segmented based on source into dairy and whey derived from non-dairy sources. The dairy segment held a larger market share in 2023 and is expected to continue its dominance throughout the forecast period.
Whey protein derived from dairy is a byproduct of cheese production and is a complete protein containing all the essential amino acids. It is commonly used in sports nutrition and as a dietary supplement for muscle growth and recovery, contributing to its significant market share.
The whey derived from non-dairy sources segment is projected to witness steady growth during the forecast period, driven by the rising demand for plant-based protein alternatives.
Non-dairy whey protein can be derived from soy, pea, or rice and is gaining popularity among vegan, lactose-intolerant, and environmentally conscious consumers.
The increasing availability of non-dairy whey protein products in various forms, such as powders, bars, and shakes, is further fueling the growth of this segment.
Whey Protein Concentrate Market End-Use Industry Insights
The Whey Protein Concentrate Market segmentation by End-Use Industry comprises Food and Beverages, Dietary Supplements, and Pharmaceuticals.
Among these, the Food and Beverages segment held the largest market share in 2023, due to the increasing demand for whey protein in sports nutrition, functional foods, and beverages.
The Dietary Supplements segment is projected to experience significant growth over the forecast period, owing to the rising popularity of whey protein supplements among fitness enthusiasts and health-conscious consumers.
The Pharmaceuticals segment is expected to witness steady growth, driven by the use of whey protein in medical nutrition and infant formula.
The Whey Protein Concentrate Market is driven by factors such as the increasing demand for protein-rich foods, rising health consciousness, and growing awareness of the benefits of whey protein.
The market is expected to continue to grow at a steady pace in the coming years, with a CAGR of 2.21% during the forecast period 2024-2032.
Whey Protein Concentrate Market Application Insights
The Whey Protein Concentrate Market is segmented into various applications, including sports and fitness, weight management, muscle building, and nutritional supplements.
Among these, the sports and fitness segment held the largest market share in 2023, accounting for approximately 42.5% of the global market revenue.
This dominance is attributed to the rising popularity of whey protein among fitness enthusiasts and athletes for muscle building, recovery, and performance enhancement.
The weight management segment is also expected to witness significant growth over the forecast period, driven by the increasing prevalence of obesity and weight-related health concerns.
Whey protein is a rich source of protein and essential amino acids, making it an ideal supplement for individuals looking to lose weight and maintain a healthy body composition.
The muscle-building segment is another key application area for whey protein, with a growing number of individuals seeking supplements to support their muscle-building goals.
Finally, the nutritional supplements segment is expected to grow steadily, fueled by the increasing demand for protein supplements among health-conscious consumers.
Whey Protein Concentrate Market Distribution Channel Insights
The distribution channel segment plays a vital role in the Whey Protein Concentrate Market, influencing the product's accessibility and availability to consumers.
Online platforms have emerged as significant distribution channels for Whey Protein Concentrate, driven by increasing internet penetration and consumer convenience.
Statistics indicate that the online retail segment accounted for approximately 35% of the Whey Protein Concentrate Market revenue in 2023 and is projected to maintain a steady growth trajectory, reaching a valuation of around 4.85 billion USD by 2032.
The convenience factor, coupled with a wide product selection and competitive pricing, has fueled the growth of online retail in this market.
Offline retail channels, including supermarkets, hypermarkets, and specialty stores, continue to hold a substantial share of the Whey Protein Concentrate Market. In 2023, offline retail accounted for nearly 52% of the market revenue, estimated at 5.41 billion USD.
The presence of established distribution networks, coupled with the ability for consumers to physically examine products before purchasing, contributes to the strong performance of offline retail channels.
Direct-to-consumer (DTC) channels have gained traction in the Whey Protein Concentrate Market, offering brands the opportunity to connect directly with consumers. This channel allows for personalized marketing, control over product distribution, and the potential for higher profit margins.
The DTC segment is expected to witness significant growth in the coming years, driven by the increasing popularity of e-commerce and subscription-based models.
Whey Protein Concentrate Market Regional Insights
The regional segmentation of the Whey Protein Concentrate Market provides insights into the market's geographic distribution and performance.
North America holds a significant market share due to the high demand for whey protein concentrate in the fitness and sports nutrition industry. Europe follows closely, with a growing number of health-conscious consumers driving demand.
The Asia-Pacific region is expected to experience the fastest market growth over the forecast period, driven by increasing disposable incomes and a rising middle class.
South America and the Middle East and Africa (MEA) regions also offer significant growth potential due to the growing adoption of whey protein concentrate in food and beverage applications.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Whey Protein Concentrate Market Key Players and Competitive Insights:
Major players in the Whey Protein Concentrate Market are continuously developing and launching innovative products to meet the evolving needs of consumers.
Leading Whey Protein Concentrate Market players are investing heavily in research and development to improve the quality and functionality of their products.
The Whey Protein Concentrate Market is highly competitive, with a number of key players vying for market share. Some of the leading players in the Whey Protein Concentrate Market include Glanbia, Arla Foods, Fonterra, and Carbery Group.
These companies are investing heavily in research and development to improve the quality and functionality of their products. They are also expanding their distribution networks to reach new markets.
Glanbia is a leading global provider of cheese, dairy ingredients, and nutritional solutions. The company offers a wide range of whey protein concentrate products, including powders, bars, and shakes.
Glanbia's products are used in a variety of applications, including food and beverage, sports nutrition, and animal feed. The company has a strong global presence, with operations in over 30 countries.
Competitor company Arla Foods is another leading player in the Whey Protein Concentrate Market. The company offers a wide range of whey protein concentrate products, including powders, bars, and shakes.
Arla Foods' products are used in a variety of applications, including food and beverage, sports nutrition, and animal feed. The company has a strong global presence, with operations in over 100 countries.
Key Companies in the Whey Protein Concentrate Market Include:
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Meiji
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Abbott Laboratories
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Kewpie Corporation
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Agropur
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FrieslandCampina
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Fonterra
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Lactalis
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Saputo
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Morinaga Milk Industry
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Arla Foods
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Hochdorf Holding
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Glanbia
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Nestlé
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Carbery Group
Whey Protein Concentrate Market Developments
The increasing demand for protein-rich products, rising health consciousness, and growing awareness of the benefits of whey protein are driving market growth.
Furthermore, the expansion of the sports nutrition industry and the growing popularity of plant-based whey protein alternatives are contributing to market expansion.
Recent developments in the market include the launch of new whey protein concentrate products with enhanced functionality and strategic partnerships between key players to expand their market reach.
Whey Protein Concentrate Market Segmentation Insights
| Report Attribute/Metric |
Details |
| Market Size 2022 |
10.21(USD Billion) |
| Market Size 2023 |
10.43(USD Billion) |
| Market Size 2032 |
12.71(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
2.21% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Meiji, Abbott Laboratories, Kewpie Corporation, Agropur, FrieslandCampina, Fonterra, Lactalis, Saputo, Morinaga Milk Industry, Arla Foods, Hochdorf Holding, Glanbia, Nestlé, Carbery Group |
| Segments Covered |
Form, Source, End-Use Industry, Application, Distribution Channel, Regional |
| Key Market Opportunities |
Rising demand from fitness enthusiasts Growing popularity of plant-based whey protein Increasing awareness about health benefits Expanding applications in the food and beverage industry |
| Key Market Dynamics |
Rising demand for sports nutrition Growing health consciousness Increasing prevalence of lactose intolerance |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Whey Protein Concentrate Market is expected to grow at a CAGR of 2.21% from 2024 to 2032.
The Whey Protein Concentrate Market is expected to reach an overall valuation of USD 12.71 billion by 2032.
The rising demand for protein supplements in the fitness and bodybuilding industries is a key growth driver of the Whey Protein Concentrate Market.
North America is expected to hold the largest market share in the Whey Protein Concentrate Market by 2032.
Some of the key competitors in the Whey Protein Concentrate Market include Glanbia, Arla Foods, and Fonterra.
Whey Protein Concentrate is primarily used in the production of protein supplements, infant formula, and other food products.
The Whey Protein Concentrate Market in the Asia-Pacific region is expected to grow at a CAGR of 3.5% from 2024 to 2032.
The Whey Protein Concentrate Market faces challenges such as fluctuating raw material prices and intense competition.
Technological advancements, such as microfiltration and ultrafiltration, have led to improved production efficiency and product quality in the Whey Protein Concentrate Market.
The COVID-19 pandemic has had a positive impact on the Whey Protein Concentrate Market due to increased demand for protein supplements for immunity and overall health.
