Global Functional Whey Protein Concentrate Market Size, Growth, Share, Industry Trends and Forecast 2024-2032

Functional Whey Protein Concentrate Market Size And Forecast

Functional Whey Protein Concentrate Market size was valued at USD 10.07 Billion in 2021 and is projected to reach USD 22.88 Billion by 2030, growing at a CAGR of 9.54% from 2022 to 2030.

The growing trend of whey proteins as a dietary supplement for health & wellness, the rapidly growing food industry, and their usage in snacks & dairy products, bakers & confectionaries, & infant formulae are likely to drive the market over the predicted years. The Global Functional Whey Protein Concentrate Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Functional Whey Protein Concentrate Market Definition

Whey protein is a protein present in whey which is a watery portion of milk that gets separated from curd while making cheese. It contains 20 essential amino acids and has several functional, biological, and nutritional properties. It is a dietary supplement having the highest nutritional value amongst all food proteins present. Functional whey proteins are mainly used in the food processing industry as protein beverages & bars, health food supplements, sauces, baked goods, infant formula, soups, salad dressings, dairy desserts, sports drink mixes and meat products.

It is manufactured using the ultrafiltration process. Powders made by drying the retentates using this process are called whey protein concentrates. Whey protein is a natural food ingredient and enhances many food products due to its nutritional value. They provide various benefits such as decreased cravings, fat loss, stress reduction, and immunity-boosting.

Global Functional Whey Protein Concentrate Market Overview

The growing trend of whey proteins as a dietary supplement for health & wellness and their usage in snacks & dairy products, bakers & confectionaries, & infant formulae are likely to drive the market over the predicted years. Multiple health benefits of whey proteins along with their performance-boosting nature will leverage the market in the coming years. Additionally, rising health awareness, increasing disposable incomes, and a rapidly growing food industry are the factors that are expected to fuel the market.

Also, several applications of functional whey proteins in the personal care industry and demand for ready-to-drink beverages owing to strict work cultures will boost the market during the forecasted period. There are certain restraints and challenges faced which can hinder market growth. Higher manufacturing costs and side effects caused due to high dosage of why proteins such as nausea, bloating, reduced appetite, increased bowel movements, headache, cramps, & tiredness are the factors that can hinder the market growth.

Global Functional Whey Protein Concentrate Market: Segmentation Analysis

The Global Functional Whey Protein Concentrate Market is Segmented on the basis of Product, Application, and Geography.

Functional Whey Protein Concentrate Market, By Product

•  Whey Protein Concentrate (WPC)
•  Whey Protein Isolate (WPI)
•  Hydrolyzed Whey Protein (HWP)

Based on Product, the market is bifurcated into Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI), and Hydrolyzed Whey Protein (HWP). Whey Protein Concentrate (WPC) is expected to hold the largest market share owing to factors such as ease of production & availability and lower cost compared to isolates & hydrolysates. WPC’s can also be used as a flavoring agent in foods & beverages, as an emulsifier, foaming agent, and water-binding agent.

Functional Whey Protein Concentrate Market, By Application

•  Infant Formulae
•  Bakers & Confectioneries
•  Food & Beverages
•  Snacks
•  Dairy Products

Based on Application, the market is bifurcated into Infant Formulae, Bakers & Confectioneries, Food & Beverages, Snacks, and Dairy Products. Food & Beverages are predicted to hold the most significant CAGR in the forecasted period due to the growing consumption of protein drinks, rising demand for healthy food products, and the increasing popularity of food & beverages containing proteins in fitness & sports activities.

Functional Whey Protein Concentrate Market, By Geography

•  North America
•  Europe
•  Asia Pacific
•  Rest of the world

Based on regional analysis, the Global Functional Whey Protein Concentrate Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by the Asia Pacific due to increasing consumption of dietary supplements & functional foods, rising consumer expenditure, and growth in consumption of plant-sourced proteins like pea proteins & soy proteins which are cheaper in cost.

Key Players

The “Global Functional Whey Protein Concentrate Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are The Milky Whey, Arla Foods, Davisco Food, Milk Specialities, Glanbia, Hilmar Cheese, Arla Foods AMBA, Grande Custom Ingredients, Glanbia Nutritionals, Global Dairy Network, Hilmar Ingredients, Groupe Lactalis, Lactalis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

•  In December 2020, Cargill added pea protein to their European ingredient offering. This product introduction gave Cargill access to the pea protein industry.
•  In September 2020, ADM added textured wheat and pea proteins to their protein offering. These proteins with high functionalities increase the meat-like texture of substitute meats. This new launch solidified ADM’s position as the global leader in plant protein.
•  In November 2020, Ingredion purchased 100% ownership of Verdient Foods (Vanscoy, SK). With the addition of two production sites in Canada, the acquisition enabled net sales growth and improved Ingredion’s manufacturing capabilities.
•  In April 2019, Saputo Inc. purchased Dairy Crest Group P.L.C., a dairy products company situated in the United Kingdom. The former made the transaction in order to extend its international presence.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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