Whey Market to Develop Rapidly at CAGR of about 6% by 2023
Research Reports
Jan 07, 2021
Market Overview
The mounting growth of healthy food and beverages including functional RTD beverages in the developing countries is causing an increased demand for whey globally. Escalating market share of functional beverages and sports drinks have also uplifted the demand for whey in the foods & beverages industry. Furthermore, rising consumption of dairy-based nutritive products is also supporting the sales of whey on a global level.
High focus on R&D sector will ensure production of quality whey products with improved functionality globally. Additionally, improvement in the production process and development of functional food and beverages from whey is projected to support the growth of the global whey market during the forecast period, 2020-2023.
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Major Key Players
Some of the key players profiled in the global Whey Market are Agropur MSI, LLC (U.S.), Arla Foods (Denmark), American Dairy Products Institute (U.S.), Westland Co-operative Dairy Company (New Zealand), Glanbia, Plc (Ireland), DMK Group (Germany), Davisco Foods Internation, Inc (U.S.), and Milk Specialties Global (U.S.) among many others.
Industry Segments
The global Whey Market is segmented into type and application. On the basis of the type, it is segmented into whey protein concentrate (WPC), whey protein isolate (WPI), hydrolyzed whey protein (HWP) and others. Among all, whey protein concentrates (WPC) owing to its high application in protein beverages and nutritional supplements based on its high protein concentration.
On the basis of the application, it is segmented into functional foods, functional beverages, dietary supplements, and others. Among all, functional beverages are dominating the market owing to increasing inclination of the consumers’ towards functional “on-the-go” beverages. However, increased consumption of health supplements is supporting the growth of whey in the dietary supplements at a global level.
Regional Analysis
The global whey market is segmented into North America, Asia Pacific, Europe, and rest of the world (RoW). North America is dominating the whey market followed by Europe. Increasing demand for nutritional protein-based food products among the developed countries of North America and European region is supporting the growth of the whey market in this region. Additionally, Canada, Germany, the U.K., the U.S., and China are the major importers of the whey.
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