Portland, OR, April 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global whey protein ingredients market generated $12.0 billion in 2020, and is projected to reach $25.7 billion by 2031, witnessing a CAGR of 7.39% from 2022 to 2031. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Factors such as potential health benefits of dairy nutritional and nutraceutical ingredients, high demand for milk-based ingredients in skin and hair care cosmetics, and easy availability of caseins and caseinate drive the growth of the global whey protein ingredients market. Moreover, the demand for nutraceutical ingredients from the food processing sector is on a significant increase, which in turn, is presenting new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to have a positive impact on growth of the global whey protein ingredients market, owing to rise in awareness of consumers to build strong immunity.
- Sales of protein based products significantly increased during the pandemic, which sequentially boosted the market growth.
- The trend is likely to be continued post pandemic as well.
The report offers detailed segmentation of the global whey protein ingredients market based on nature, type, application, and region.
Based on nature, the conventional segment held the highest market share in 2020, holding 95% of the total market share, and is expected to continue its leadership status during the forecast period. However, the organic segment is estimated to register the highest CAGR of 8.5% from 2022 to 2031.
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Based on application, the sports nutrition segment held the largest market share in 2020, holding nearly one-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 9.1% from 2022 to 2031.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2031. Moreover, Asia-Pacific is projected to manifest the fastest CAGR of 9.3% during the forecast period.
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Leading players of the global whey protein ingredients market analyzed in the research include Arla Foods, Cargill Incorporation, Hilmar Cheese Company, Fonterra Co-Operative Group Ltd., Carberry Food Ingredients, Glanbia plc, Davisco Food International, Maple Island Incorporation, and Dairy Farmers of America.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
