Global Whey Protein Ingredients Market size was valued at $8,216 million in 2015, and is expected to reach $15,037 million by 2022, registering a CAGR of 9.2% during the forecast period.
Whey protein ingredients are globular proteins isolated from whey-the liquid material obtained as a byproduct of cheese production. Consumers are embracing these ingredients for high protein content as compared to soy, egg, and other milk-based proteins. Whey proteins are consumed globally as dietary supplements owing to various health claims associated with them. For instance, whey protein is generally used to improve lipid profile glucose levels and insulin response, thereby promoting arterial stiffness and a reduction in blood pressure. Moreover, whey protein concentration is regulated by the addition of denatured powder to provide balanced nutrition for the infants. In addition, these ingredients reduce hepatic cholesterol levels among the elderly. Growth in popularity of whey supplements among youngsters and emergence of whey protein-based pediatric milk formulations coupled with advancements in production technologies are some of the key factors that drive the market growth.
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Various end-use industries have initiated the use of isolate form of whey protein ingredients for improved results owing to composition of higher protein content and lower lactose and carbohydrates. Increase in demand for these whey protein ingredients among pharmaceutical companies poses lucrative opportunities for the players in the global whey protein ingredients market.
In 2015, U.S. and Europe collectively accounted for more than half of the total whey protein ingredients market, and are expected to continue this trend due to increase in milk production and rise in demand for higher protein containing products, specifically in China, India, Japan, Brazil, and other developing economies. Moreover, rise in number of working women demanding whey proteins for infant formula and increase in trend of beverage industry to boost the protein content of products is the major reason that drives the growth of whey protein ingredients market.
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The major companies profiled in the report include Arla Foods, Cargill Incorporation, Hilmar Cheese Company, Fonterra Co-Operative Group Ltd, Carberry food ingredients, Glanbia plc, Davisco Food International, Maple Island Incorporation, Dairy Farmers of America, and Milk Specialities Global.
Key Findings of the Whey Protein Ingredients Market Study:
- In terms of volume, the sports nutrition segment is projected to show highest growth rate of 8.0% during the analysis period.
- North-America is projected to maintain its lead throughout 2022, and is projected to grow at a CAGR of 6.8%, in terms of volume.
- Bakery and confectionery application segment occupied approximately one-sixth of the total market in 2015.
- China occupied for around one-third of the total Asia-Pacific whey protein ingredients market in 2015.
- In terms of value, Japan is expected to grow at a CAGR of 8.6% from 2016 to 2022.
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