Whey Protein – A brief analysis of its features
Whey protein is a blend of globular proteins that is derived from whey (the liquid formed as a byproduct of cheese/casein production) and is a critical component for fighting fat and in building muscle. Whey protein contains a high protein substance when compared to eggs, soy and other milk created proteins. Whey protein is easier to digest than other forms of proteins that are added to food and beverages including protein from plants. Whey protein is available in the market in the form of whey protein products
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Whey protein market analysis –The available market opportunities
Whey protein market is of recent origin when whey began to be available in packaged product for bodybuilders in the early 1950s when the body builders found that to gain in muscle size they should raise their protein intake. Hi-Proteen by Bob Hoffmann was one of the first protein powders that began to be sold in open market. During the late 1980s and early 1990s saw whey protein products being sold in the form of protein shakes, powders thereby being popularized as health supplements.
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According to the whey protein market report, the whey protein market value was estimated to be the US $8.2 Billion in 2016 that is projected to reach the US $9 Billion by 2021 with an estimated compound annual growth rate (CAGR) of 7.6% during the forecast period from 2017 to 2022. Whey protein products are in great demand especially among athletes, bodybuilders, infants and lactose allergic population who are in need of protein diets. The whey protein market size in a very short time has expanded from being a byproduct market to a more technologically and research oriented industry in the food and food derivates segment.
Whey proteins manufacturers and distributors have huge whey protein market opportunities as these products are versatile in their usage and find enormous applications extensively in infant formulae, bakers and confectioneries, snacks and dairy products. For instance, functional beverage industry uses or employ whey as a major ingredient in the production processes. About 45% of global whey protein market has been centralized in the dietary supplements segment.
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Whey protein market trends – A global outlook
Globally there has been an increasing awareness about health among people due to rise in the living standards with disposable incomes. In addition, a rising demand for pediatric foods and rise in the popularity of protein utilization are the main factors that driving the trends of whey protein market. The protein ingredients market itself is highly fragmented where there is a lot of competition for a limited number of end applications. The protein ingredients market is divided into Animal Protein Ingredients and Plant Protein Ingredients. Whey Protein comes under Animal Protein Ingredient as shown below in a tabulated representation.
|Animal Protein Ingredients||Plant Protein Ingredients|
Figure: 1, Source: Protein Trends & Technologies Seminar – Frost & Sullivan
Whey Protein Market Segmentation – Division of global whey market
Global whey protein market segmentation is based on Type, Application, and Geography as shown in below as a tabulated format
|Whey Protein Concentrate (WPC)||Dairy,||North America|
|Hydrolyzed Whey Protein (HWP)||Dietary supplements||Asia-Pacific|
|Whey Protein Isolate (WPI)||Pharmaceuticals||Middle-East|
Figure 2 –Market Segmentation of Whey Protein
In terms of Whey Protein Market Size, Whey Protein Concentrate (WPC), which is high in lactose and low in protein, constitutes over 25% of total whey protein market share. However, the whey protein market worth of Hydrolyzed Whey Protein (HWP) is growing enormously holding around 60% of the market share, especially in medical and sports nutrition product segment.
Geographically, North America, and Europe are the largest regions for the whey protein market as the production of whey proteins is highest in these regions. Asia-Pacific region is the other emerging market owing to growing concerns over health and increase in disposable income. Asia-Pacific region accounts for 18.9% share of global whey protein market with an estimated CAGR of 10% in the year 2021. The key players or companies in whey protein market are
• Hilmar Cheese Company
• Davisco Foods International Inc
• Milk Specialties Global
• Maple Island Inc.
These companies are playing an important role in fulfilling the growing demands for infant foods, processed foods and health supplements amidst dealing with issues of health and safety concerns and by following the stringent regulations, rules and certifications requirements for marketing and distribution of whey protein products.