Hyderabad, Oct. 27, 2016 (GLOBE NEWSWIRE) -- According to new report,"Whey Protein Ingredients Market: By Form (Isolates, Concentrates, Hydrolysates, Demineralized Whey ); By Application (Bakery Confectionery, Dairy Products & Frozen Foods, Infant Nutrition, Beverages, Sports Nutrition, Meat Products) - Forecast (2016 - 2021)", published by IndustryARC, the market is set to reach $8.94 Billion by 2021.
Browse 9 Market Tables, 45 Figures spread through 120 pages and an in-depth TOC on “Whey Protein Ingredients Market”
Whey proteins are the compounds derived from whey during the cheese production and are known for improving athletic performance as well act as an alternative to milk for lactose intolerant consumers. They also help in aiding weight loss in all age groups. Whey proteins are quite popular among athletes and body builders with considerable penetration in the sports nutrition segment. This report provides the detailed analysis of the forms and major applications for the whey protein market as well as studies the competitive landscape. The key types of Whey proteins – Isolates, Hydrolysates and Concentrates are analyzed in detail.
Whey proteins have been witnessing increased demand from dietary supplements and functional food reaching out to wider set of consumers. This is mainly due to the increasing number of people choosing active lifestyles and being involved in some kind of sports or activity. Increasing proportions of millennial population are participating in casual sports and regular exercising and are giving equal importance to enhanced protein intake. The inclination towards fitness and sports has been in rise fuelling the demand for nutritional drinks and supplements. In addition, the ever-growing array of protein products and related awareness widens the scope for the use of different whey formulations. Driven by this increasing health consciousness among consumers and rising availability of specialized nutritional foods, whey protein ingredients market is set to reach $8.94 billion by 2021, and forecast to grow at a CAGR of 9.4% during the forecast period 2016-2021.
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Major applications of whey protein ingredients include:
- Bakery & confectionery
- Sports Nutrition
- Infant Nutrition
- Dairy Products & Frozen Foods
- Meat Products and Others
Europe dominates the market currently owing to the heightened awareness on whey proteins and wide availability of related food products in 2015 followed by North America. U.K. dominates the market in Europe region due to the rising demand of high-protein products. The U.S. is the top market in North America region whereas increasing disposable income in the developing countries such as India and China is estimated to enhance the growth rate in Asia-Pacific whey protein ingredients market.
Expanding application base provide necessary impetus to the market growth:
Food & beverages industry has witnessed significant number of launches in functional food segment especially vitamin and protein fortified products. Many consumer studies have revealed the interest of health conscious consumers showing their interest in high protein products and this trend is strengthening over time. In U.S., more than more than one-fifth of the population considers that they are deficient in protein which provides huge opportunity for the market players. Dairy products have emerged as the most potential application for various nutrients including whey protein. On the other hand, the market for meat products is still in the emerging phase.
Protein market as a whole has entered many food segments including shakes, wraps, snacks, soups, breakfast cereals and so on. The demand from elder group is also growing with consumers choosing healthy diet coupled with aging population especially in the developed nations. However, animal based proteins have been facing challenge from plant based proteins which are relatively cheap and similar to animal based proteins in some functionality. Food manufacturers are also projecting the ingredient names on packages of their offerings as consumers are familiarized with most of the protein substances.
The major players in whey protein ingredients market Include:
- Arla Foods AMBA (Denmark)
- Davisco Foods International (U.S.)
- Glanbia PLC (Ireland)
- Hilmar Cheese Company (U.S.)
- Milk Specialties Global and Others
Abbott Laboratories, Adams Food Amco Protein, Bright Dairy, Carbery Food Ingredients, Cargill Inc., Dairy Farmers of America, Danone, Erie Foods International, Inc., Fonterra Co-Operative Group Ltd, Foremost Farms, Grande Custom Ingredients Group, Hippwerk Ohg Leprino Foods Company, Meiji Milk Products Co, Ltd, Namyang Dairy, Omega Protein Corporation, Pepsico Royal Friesland Campina, Valio Ltd., Volac International Ltd, Weider Global Nutrition and others.
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The major five players account for around one-third of the total market currently and the dominance of these players is expected to remain in the coming years with heavy investments in marketing and rising number of expansions and product launches. The market report covers analysis on various types of whey proteins based on the protein concentration like WPI, WPH, WPC and so on. In addition, the study includes analysis on potential and prospects of various application segments.
Scope of the Study: The report covers quantitative analysis including values ($M) and volumes (KT) as well as qualitative analysis of the following:
- Market potential of several materials and end users at global, regional and country level
- Various insulation materials in different applications and end-users
- Competitive landscape and growth strategies
- Trends, drivers and opportunities impacting the growth
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- The overall market has also been consolidated from the perspective of different geographic locations and key economies for this market.
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- The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
- The study includes the demand of this particular market on a global and regional scale for a six year period of 2015 - 2021, to assess the market development and scope for growth.
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