Overview of the global whey market
In terms of volume, the global whey protein ingredients market is expected to grow at a CAGR of nearly 9%. The high demand from protein supplement industry is driving the global whey protein ingredients market.
The growth of this market is also driven by the rising number of working women. Due to work pressure and time limitations, women are using infant formula as a substitute for breast milk. Whey protein ingredients have high nutrition content that are essential for the growth of the baby. Infant formula dominates the global baby nutrition market with a market share of around 70% in the global baby nutrition market. APAC and Europe are the leading regions within this market.
Segmentation of the whey protein ingredients market by type
In 2014, WPC 80 accounted for a major share of the global market, followed by WPH, WPI and WPC 35 respectively. Technavio predicts that the WPC 80 market would reach around $2 billion by 2019. The fast growth is due to rising production rate with an increase in demand. It is mostly used in health supplements, food and beverages, and clinical and baby nutrition products since it is low in fat and cholesterol and has a high protein content.
Although WPC 35 holds the maximum market share in terms of volume, it’s predicted to grow at a slow rate due to waning usage. WPI is a premium protein ingredient and the global market for it is experiencing rapid growth. In 2014, the average price for WPI was around $15,000 per ton.
Segmentation of the global whey protein ingredients market by geography
In 2014, North America accounted for a major share of the global whey protein ingredients market, in terms of volume, followed by Europe, APAC, and ROW respectively. North America is predicted to reach around 480 thousand metric tons by the end of the forecast period. The US is the dominant market in the region and driven by the increasing demand for functional food and beverages and increasing awareness towards whey proteins. Europe is the second largest consumer of whey protein ingredients globally, and the market is expected to grow steadily during the forecast period.
Vendor landscape of the global whey protein ingredients market
The leading players in the market include: -
Other prominent vendors in the market include ABF, Archer Daniels, Armor, DMV, and Wacker.
The presence of large and small vendors has fragmented the market and given rise to intense competition. Vendors in the market compete on the basis of 4 major factors such as price, innovation, quality, and performance. Innovation has become a norm within the market, and vendors are distinguishing their product offerings with unique value propositions to build brand loyalty. However, large investments are required for research and involve usage of chemicals in large quantities which further increases the cost.
Other sections of the report include an analysis of the following
Market assessment and opportunities of the global whey protein ingredients market
Market drivers, trends and challenges in the whey protein ingredients market
Five forces analysis of the whey protein ingredients market
Vendor analysis and key offerings
Key leading countries in the global whey protein ingredients market
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