How Are Health Trends Influencing the Growth of the Whey Industry?
Whey Market Research Future Insights:
The estimated market size of the Whey Market is projected to be valued at USD 17.82 billion by the end of the forecasted period. The CAGR rate of this market is 8.76%. This is due to an increase in the consumption of dairy based products. Because whey helps in the muscle development & ensure the wellbeing of the people. In addition to this, the whey is a good source of protein, which ultimately acts as a baby food recipe & it is also treated to be like a refreshment for the flood dependents. In a nutshell, an increase in the interest of dairy-based items with high dietary benefits is pushing the growth of the worldwide organic whey protein market.
The Storm of Covid-19 has disrupted each & every industry. The Whey Market is also affected to a large extent. This is because of the lockdowns imposed by the various countries. But the online whey protein market is giving hope for the further development of the market.
Regional Analysis:
For the forecasted period, 2022 the North America region, is expected to dominate the market. This region holds a market share of more than 36.30%. This is due to the presence of media that highly promotes a healthy lifestyle. In addition to this the functional food & supplements have been largely offering tremendous health benefits & nutritions. Which become a key factor for the growth of the whey market in the region. Europe is also expected to dominate the market, this is because of the rise in preventive healthcare measures, emphasis on healthy living, and an increase in the preference for protein supplements especially in countries like Germany, France, and the U.K. Another region, the Asia Pacific region is also projected to possess a good market share. For the reason being, due to the availability of Raw materials, China has become one of the largest producers of dairy based proteins.
Market Segmentations:
For the fruitful growth of the Whey market, the market has been Segmented into 3 Segments - On the basis of Type, Application & End user. On the basis of Type, the market is segmented into Whey Protein Isolates (WPI), Whey Protein Concentrates (WPC) & Whey Protein Hydrolysates (WPH). Based on the Application, it's been classified into Functional Foods, Functional Beverages & Dietary Supplements. Lastly, on the basis of End-User the market has been fragmented into food & drinks, wellbeing enhancements, and drugs. The food and drinks section has been further sub portioned into newborn child food sources, bread kitchen, dessert shop, utilitarian refreshments, bites and dairy items.
Key Players:
Dominant Key Whey Market Players are from the US, then followed by other countries like Denmark, New Zealand, Germany & Ireland. Some of the names of key players are Arla Foods (Denmark), Westland Co-operative Dairy Company (New Zealand), Milk Specialties Global (U.S.), Agropur MSI LLC (U.S.), DMK Group (Germany), American Dairy Products Institute (U.S.), Glanbia Plc (Ireland) & Davisco Foods International Inc (U.S.)
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