Market Definition:
The application of whey in the infant food formula and as a protein supplement is found to have a positive influence on the sales of whey products. Furthermore, the application of whey in functional beverages is witnessing a surge based on the growing popularity of ready-to-drink protein products. The escalating demand for dairy-based products due to the high nutritional value is supporting the growth of the whey market globally. Increasing health awareness is facilitating the growth of whey in the global market. Whey contributes to muscle growth which tends to sustain higher demand for whey products and its derivatives on a global platform.
Market Scenario and Key Restraints:
High focus on the R&D sector will the ensure production of quality whey products with improved functionality, globally. Additionally, improvement in the production process and development of functional foods & beverages from whey are expected to support the growth of the global whey market during the forecast period, 2017–2023.
The mounting growth of healthy foods & beverages including functional RTD beverages in developing countries is causing an increased demand for whey globally. The escalating market share of functional beverages and sports drinks have also uplifted the demand for whey in the food and beverage industry. Furthermore, the rising consumption of dairy-based nutritive products is also supporting the sales of whey on a global level.
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Key Players:
Some of the key players profiled in the global whey market are Agropur MSI, LLC (U.S.), Arla Foods (Denmark), 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.), and Milk Specialties Global (U.S.), among many others.
Key Findings:
- The Asia Pacific region is experiencing a high demand for whey as a potential protein ingredient
- Top five exporters of whey are the U.S., the U.K., China, the Netherlands, and France
- In November 2017, Arla Foods launched their range of new whey protein for the RTD drinks market. Rising health consciousness and increased demand for innovative protein products have encouraged them towards the launch of the product.
Intended Audience:
- Whey Manufacturers
- Functional Food & Beverage Industry
- Sports Nutrition Product Manufacturers
- Confectionery Industry
- Raw Material Suppliers
- Traders, Importers, and Exporters
Segments:
The global Whey Market is segmented into type and application.
On the basis of application, it is segmented into functional foods, functional beverages, dietary supplements, and others. Among all, functional beverages are dominating the market owing to the increasing inclination of consumers towards functional “on-the-go” beverages. However, the increased consumption of health supplements is supporting the growth of whey in dietary supplements on a global level.
On the basis of type, it is segmented into Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI), Hydrolyzed Whey Protein (HWP), and others. Among all, the Whey Protein Concentrates (WPC) segment dominates the market owing to its wide application in protein beverages and nutritional supplements.
Regional Analysis:
The global whey market is segmented into North America, Asia Pacific, Europe, and the Rest of the World (RoW). North America is dominating the whey market followed by Europe. The increasing demand for nutritional protein-based food products among the developed countries of North America and the European region is supporting the growth of whey market in these regions. Additionally, Canada, Germany, the U.K., the U.S., and China are the major importers of whey.
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Asia Pacific is the fastest growing region for the whey market owing to increasing health awareness and developing an economy which further supports the increased disposable income in the countries of Asia Pacific.
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