April 29, 2021
According to the research report titled ‘GLOBAL Whey Protein Ingredients Market 2019-2027’, available with Market Study Report LLC, global whey protein ingredients market is expected to register a compound annual growth rate of 11.51% in terms of revenue and 5.76% by volume through 2027.
Collective inclination towards adopting healthy lifestyle in tandem with rising cognizance regarding the benefits of the product are some of the major factors driving the growth of global whey protein ingredients market.
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Notably, whey protein is an essential protein extracted from dairy products. It is basically a byproduct formed while manufacturing cheese and is widely consumed to improve athletic performance. Thus, growing demand for health alternatives is stimulating the industry outlook.
Despite the several growth trends, fluctuating prices of raw materials, highly fragmented business sphere, and abnormal manufacturing costs could potentially act as restraining factors to the growth of global whey protein ingredients industry.
Regardless, rapid expansion of convenience foods, growing demand for high-quality protein, and increasing health cognizance may provide lucrative growth avenues for the industry participants.
Regionally, Asia-Pacific is likely to account for the largest market share by the year 2027, owing to growing population and rising consumption of functional food & beverages.
The competitive landscape of global whey protein ingredients market is defined by companies such as Saputo Ingredients, Omega Protein Corporation, Agropur MSI LLC, Fonterra Co-operative Group Limited, Erie Foods International Inc., Westland Milk Products, Warrnambool Cheese & Butter Factory Company, Danone S.A., Milk Specialties, Meggle GmbH & Co. KG, Leprino Foods Dairy Products Co., American Dairy Products Institute, Grande Custom Ingredients Group, Arla Foods amba, and Cargill Inc. among others.