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Whey Protein Ingredients Market Size

Report ID: GMI6313
Published Date: Jul 2023
Report Format: PDF

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Whey Protein Ingredients Market Size

Whey Protein Ingredients Market size was valued at USD 14.2 billion in 2022 and is poised to record more than 7% CAGR from 2023 to 2032. The expanding sports and fitness industry, coupled with the growing preference for plant-based alternatives, has also driven the demand for whey protein ingredients as a versatile and sustainable protein source. Additionally, advancements in processing technologies and the incorporation of whey protein in various food and beverage applications are further fueling market growth.

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Whey Protein Ingredients Market Growth Drivers & Restraints

One of the primary drivers for industry expansion is the increasing consumer awareness about the health benefits of whey protein, promoting its consumption in dietary supplements and functional foods. Moreover, the rise in disposable incomes and urbanization has led to a shift towards healthier lifestyles, driving the demand for whey protein ingredients.

Fluctuating milk prices, which impact production costs, may impede whey protein ingredients industry development to some extent. However, the availability of alternative protein sources and the growing preference for plant-based options may pose challenges to industry growth. Despite these constraints, technological advancements and product innovations will continue to drive demand for whey protein products.

Whey Protein Ingredients Market Report Attributes
Report Attribute	Details
Base Year:	2022
Whey Protein Ingredients Market Size in 2022:	USD 14.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7.4%
2032 Value Projection:	USD 29 Billion
Historical Data for:	2018 to 2022
No. of Pages:	120
Tables, Charts & Figures:	136
Segments covered:	By Application, By Type, By Region
Growth Drivers:	Growing demand for high protein content products Increasing health awareness Rising demand for sports supplement products
Pitfalls & Challenges:	Growing use of preservatives Harmful impact on health Rising prices

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Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size for whey protein ingredients was worth USD 14.2 billion in 2022 and is poised to record more than 7% CAGR from 2023 to 2032, due to rising health consciousness among consumers and the increasing demand for protein-rich supplements and functional foods.

Whey protein concentrate type segment accounted for over 27% share of the whey protein ingredients market in 2022, owing to the growing preference for the products from athletes and fitness enthusiasts to support muscle growth and recovery.

North America whey protein ingredients industry size dominated around USD 3.9billion in 2022, on account of various government initiatives promoting healthy lifestyles and dietary habits

Arla Foods Ingredients, Kerry Group, Hilmar Ingredients, Lactalis Ingredients, Milk Specialties Global, Carbery Group, Leprino Foods Company, Davisco Foods International, and Agropur Ingredients are some of the key participants in the global market.