Whey Market | 2031 Insights | Recent Updates
The Whey Market is expected to register a CAGR of 8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Whey Market covers analysis By Type (Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI), Hydrolyzed Whey Protein (HWP), Others); Application (Food and Beverages, Dietary Supplements, Infant Formula, Others), and Geography (North America, Europe, Asia Pacific, and South and Central America). Whey is basically a by-product of cheese prepared from milk, which contains protein. Whey protein is quite a rich source of protein in comparison to soy, egg, and other products. Different type of whey protein is available in the market including whey protein isolates, whey protein concentrates, and whey protein hydrolysates.
Purpose of the ReportThe report Whey Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Whey Market Segmentation
Type- Whey Protein Concentrate
- Whey Protein Isolate
- Hydrolyzed Whey Protein
- Others
- Food and Beverages
- Dietary Supplements
- Infant Formula
- Others
Strategic Insights
Whey Market Growth Drivers- Growing Health Consciousness: The surging health consciousness amongst consumers is one of the main factors fuelling the demand for whey. The use of whey protein in muscle recovery and overall fitness has become popular among many consumers, who are more aware of its nutritional benefits.
- Versatility in Food Products: In recent years, whey have been incorporated into numerous food and beverage products. Market growth can be attributed to several factors, including the versatility of whey protein in nutritional supplements, ready-to-drink products or as an ingredient in different types of aflatoxins.
- Rise in Fitness Trends: The increasing popularity of fitness exercises and resistance exercises among the public will drive a growing need for proteins supplements, especially whey protein powders. This contributes to the market growth of whey among athletes and fitness enthusiasts across the globe.
- Demand for Whey Protein in Sports Nutrition: The different kinds of whey are used by athletes and sports enthusiasts in order to support muscle recovery and performance improvement. This trend is expected to drive the continued growth in demand for whey protein powders in nutritional supplements and sports drinks.
- Whey Protein in Functional Foods: Whey protein is increasingly being used in various functional foods as a source of high nutrition and functional properties. They are also added to yogurt, ice creams, and bakery products as stabilizing agents or as a substitute for fats.
- The Shift Toward Plant-Based Proteins: While whey protein powders have been widely adopted, there is an emerging trend for plant-based proteins among consumers. This is due to dietary tendencies such as veganism and lactose intolerance. This is considered an emerging trend in the whey market.
- The Impact of E-Commerce on Whey Protein Purchases: The growth of e-commerce has changed the way purchases are done in whey protein. People find it easy to shop with online shopfronts, which further shows a larger selection than one would otherwise see and also achieve increased accessibility to concentrates of whey.
- Innovation in Whey Protein Development: Currently, research and development of the existing whey protein product would be thought to introduce new forms in the nutraceutical that would seek health-related niches, like reduced-lactose use or increased availability of certain amino acids. Such factors are considered as huge growth opportunities in the market.
- The Future of Functional Whey Protein Products: Coupled with the increasing health consciousness of consumers who desire their nutrient-rich whey protein products with overall wellness, makes functional whey protein products the future. Infused products such as probiotics and vitamin-enriched ones might become more popular with consumers who aim to have healthy eating habits.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Whey Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Whey Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The growth of e-commerce is considered as a growth opportunity in the whey market.
Based on geography, North America held the largest share of the whey market due to the increased number of sports enthusisasts
The dietary supplements application segment accounted for the largest market share in 2023.
Numidia BV, Interfood, Davisco Foods International, Arla Foods amba, Glanbia plc, DMK Group, FIT, Fonterra Co-Operative Group Ltd, Dairy Farmers of America, and Milk Specialties Global are some of the key players in the market.
The different kinds of whey protein products used by athletes and sports enthusiasts in order to support muscle recovery and performance improvement is an emerging trend in the market
The Whey Market is estimated to witness a CAGR of 8% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Whey Market - By Type
1.3.2 Whey Market - By Application
1.3.3 Whey Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. WHEY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. WHEY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. WHEY MARKET - GLOBAL MARKET ANALYSIS
6.1. WHEY - GLOBAL MARKET OVERVIEW
6.2. WHEY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. WHEY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. WHEY PROTEIN CONCENTRATE (WPC)
7.3.1. Overview
7.3.2. Whey Protein Concentrate (WPC) Market Forecast and Analysis
7.3.3. Whey Protein Concentrate (WPC) Market
7.3.3.1. Overview
7.3.3.2. Whey Protein Concentrate (WPC) Market Forecast and Analysis
7.3.4. Whey Protein Isolate (WPI) Market
7.3.4.1. Overview
7.3.4.2. Whey Protein Isolate (WPI) Market Forecast and Analysis
7.3.5. Hydrolyzed Whey Protein (HWP) Market
7.3.5.1. Overview
7.3.5.2. Hydrolyzed Whey Protein (HWP) Market Forecast and Analysis
7.4. WHEY PROTEIN ISOLATE (WPI)
7.4.1. Overview
7.4.2. Whey Protein Isolate (WPI) Market Forecast and Analysis
7.5. HYDROLYZED WHEY PROTEIN (HWP)
7.5.1. Overview
7.5.2. Hydrolyzed Whey Protein (HWP) Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. WHEY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FOOD AND BEVERAGES
8.3.1. Overview
8.3.2. Food and Beverages Market Forecast and Analysis
8.3.3. Bakery and Confectionery Market
8.3.3.1. Overview
8.3.3.2. Bakery and Confectionery Market Forecast and Analysis
8.3.4. Infant Formulae Market
8.3.4.1. Overview
8.3.4.2. Infant Formulae Market Forecast and Analysis
8.3.5. Dietary Supplements Market
8.3.5.1. Overview
8.3.5.2. Dietary Supplements Market Forecast and Analysis
8.3.6. Dairy Products Market
8.3.6.1. Overview
8.3.6.2. Dairy Products Market Forecast and Analysis
8.3.7. Others Market
8.3.7.1. Overview
8.3.7.2. Others Market Forecast and Analysis
8.4. DIETARY SUPPLEMENTS
8.4.1. Overview
8.4.2. Dietary Supplements Market Forecast and Analysis
8.5. INFANT FORMULA
8.5.1. Overview
8.5.2. Infant Formula Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. WHEY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Whey Market Overview
9.1.2 North America Whey Market Forecasts and Analysis
9.1.3 North America Whey Market Forecasts and Analysis - By Type
9.1.4 North America Whey Market Forecasts and Analysis - By Application
9.1.5 North America Whey Market Forecasts and Analysis - By Countries
9.1.5.1 United States Whey Market
9.1.5.1.1 United States Whey Market by Type
9.1.5.1.2 United States Whey Market by Application
9.1.5.2 Canada Whey Market
9.1.5.2.1 Canada Whey Market by Type
9.1.5.2.2 Canada Whey Market by Application
9.1.5.3 Mexico Whey Market
9.1.5.3.1 Mexico Whey Market by Type
9.1.5.3.2 Mexico Whey Market by Application
9.2. EUROPE
9.2.1 Europe Whey Market Overview
9.2.2 Europe Whey Market Forecasts and Analysis
9.2.3 Europe Whey Market Forecasts and Analysis - By Type
9.2.4 Europe Whey Market Forecasts and Analysis - By Application
9.2.5 Europe Whey Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Whey Market
9.2.5.1.1 Germany Whey Market by Type
9.2.5.1.2 Germany Whey Market by Application
9.2.5.2 France Whey Market
9.2.5.2.1 France Whey Market by Type
9.2.5.2.2 France Whey Market by Application
9.2.5.3 Italy Whey Market
9.2.5.3.1 Italy Whey Market by Type
9.2.5.3.2 Italy Whey Market by Application
9.2.5.4 United Kingdom Whey Market
9.2.5.4.1 United Kingdom Whey Market by Type
9.2.5.4.2 United Kingdom Whey Market by Application
9.2.5.5 Russia Whey Market
9.2.5.5.1 Russia Whey Market by Type
9.2.5.5.2 Russia Whey Market by Application
9.2.5.6 Rest of Europe Whey Market
9.2.5.6.1 Rest of Europe Whey Market by Type
9.2.5.6.2 Rest of Europe Whey Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Whey Market Overview
9.3.2 Asia-Pacific Whey Market Forecasts and Analysis
9.3.3 Asia-Pacific Whey Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Whey Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Whey Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Whey Market
9.3.5.1.1 Australia Whey Market by Type
9.3.5.1.2 Australia Whey Market by Application
9.3.5.2 China Whey Market
9.3.5.2.1 China Whey Market by Type
9.3.5.2.2 China Whey Market by Application
9.3.5.3 India Whey Market
9.3.5.3.1 India Whey Market by Type
9.3.5.3.2 India Whey Market by Application
9.3.5.4 Japan Whey Market
9.3.5.4.1 Japan Whey Market by Type
9.3.5.4.2 Japan Whey Market by Application
9.3.5.5 South Korea Whey Market
9.3.5.5.1 South Korea Whey Market by Type
9.3.5.5.2 South Korea Whey Market by Application
9.3.5.6 Rest of Asia-Pacific Whey Market
9.3.5.6.1 Rest of Asia-Pacific Whey Market by Type
9.3.5.6.2 Rest of Asia-Pacific Whey Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Whey Market Overview
9.4.2 Middle East and Africa Whey Market Forecasts and Analysis
9.4.3 Middle East and Africa Whey Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Whey Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Whey Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Whey Market
9.4.5.1.1 South Africa Whey Market by Type
9.4.5.1.2 South Africa Whey Market by Application
9.4.5.2 Saudi Arabia Whey Market
9.4.5.2.1 Saudi Arabia Whey Market by Type
9.4.5.2.2 Saudi Arabia Whey Market by Application
9.4.5.3 U.A.E Whey Market
9.4.5.3.1 U.A.E Whey Market by Type
9.4.5.3.2 U.A.E Whey Market by Application
9.4.5.4 Rest of Middle East and Africa Whey Market
9.4.5.4.1 Rest of Middle East and Africa Whey Market by Type
9.4.5.4.2 Rest of Middle East and Africa Whey Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Whey Market Overview
9.5.2 South and Central America Whey Market Forecasts and Analysis
9.5.3 South and Central America Whey Market Forecasts and Analysis - By Type
9.5.4 South and Central America Whey Market Forecasts and Analysis - By Application
9.5.5 South and Central America Whey Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Whey Market
9.5.5.1.1 Brazil Whey Market by Type
9.5.5.1.2 Brazil Whey Market by Application
9.5.5.2 Argentina Whey Market
9.5.5.2.1 Argentina Whey Market by Type
9.5.5.2.2 Argentina Whey Market by Application
9.5.5.3 Rest of South and Central America Whey Market
9.5.5.3.1 Rest of South and Central America Whey Market by Type
9.5.5.3.2 Rest of South and Central America Whey Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. WHEY MARKET, KEY COMPANY PROFILES
11.1. NUMIDIA BV
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. INTERFOOD
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DAVISCO FOODS INTERNATIONAL
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. ARLA FOODS AMBA
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GLANBIA PLC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. DMK GROUP
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. FIT
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. FONTERRA CO-OPERATIVE GROUP LTD
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. DAIRY FARMERS OF AMERICA
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. MILK SPECIALTIES GLOBAL
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Numidia BV
2. Interfood
3. Davisco Foods International
4. Arla Foods amba
5. Glanbia plc
6. DMK Group
7. FIT
8. Fonterra Co-Operative Group Ltd
9. Dairy Farmers of America
10. Milk Specialties Global
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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