The global hydrolyzed whey protein market is expected to be valued at USD 4,749.7 million in 2023 and is expected to reach USD 8,175.5 million by 2033. A CAGR worth 5.6% is expected for the market during the 2023 to 2033 forecast period.
Growing health consciousness among people, an increase in the number of fitness centers and health clubs, and an increase in the availability of Hydrolyzed whey protein in organized retails are factors contributing to the growth of the Hydrolyzed whey protein market. Furthermore, the market is growing because of the numerous health benefits provided by hydrolyzed whey protein, such as weight loss and muscle strengthening.
Data Points | Key Statistics |
---|---|
Growth Rate (2018 to 2022) | 2.3% CAGR |
Projected Growth Rate (2023 to 2033) | 5.6% CAGR |
Expected Market Value (2023) | USD 4,749.7 million |
Anticipated Forecast Value (2033) | USD 8,175.5 million |
Whey protein is a globular protein combination extracted from whey, which is a liquid by-product of cheese manufacture. Whey protein is utilized as a dietary supplement and is thought to be an alternative therapy for a variety of health problems. Whey is a by-product of milk coagulation used in cheese production that contains all compounds soluble in milk after pH 4.6. Whey is a 5% lactose-in-water solution including lactalbumin and minerals.
Whey protein that has been Hydrolyzed is whey protein that has been isolated by treating it with acid and high heat. It is usually made up of 90 to 95 percent whey protein. This process results in the formation of tiny peptides, or bonds that connect the amino acids. As a result, Hydrolyzed whey protein is easily absorbed by the body. During the projected period, these factors are expected to boost the market.
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Growing Health Awareness Among the Consumer to Drive the Growth of the Market
The remarkable change in lifestyles, rising health awareness, and an increase in consumption of bakery and confectionery items are all contributing to the expansion of the global Hydrolyzed whey protein market. Furthermore, rising demand for dairy products, rising fitness concerns among consumers, and an increase in the market for pediatric foods are likely to drive the growth of the global Hydrolyzed whey protein market.
A vast number of athletes engage in leisure and semi-professional physical activity on a daily basis. This group also wishes to develop their personal brands, which can be accomplished by adhering to suitable nutritional rules. Nutrient requirements are higher in the athletic population than in the non-athlete population. This has resulted in an increase in the overall sales of sports-related whey protein powders.
Hydrolyzed whey protein is commonly included in skin care products, where its primary function is to impart a lightening factor, as Hydrolyzed whey functions as a whitening agent. Whey protein, on the other hand, aids in the natural development of collagen and elastin, which helps to plump the skin and prevent slackness. As a result, the beauty consumers' desire for preventive measures to maintain skin health has resulted in significant potential opportunities in this industry.
High Cost of the Product May Impede the Growth of the Hydrolyzed Whey Protein Market
As Hydrolyzed whey protein is derived from milk, persons who are allergic to milk are likely to be allergic to the product as well. Whey has two primary allergens: alpha-lactalbumin and beta-lactoglobulin. People who are allergic to milk often prefer other protein types, which limits the product's penetration. As a result, such a factor may restrict market expansion throughout the predicted period.
On the other side, the whey protein market is restrained by high manufacturing costs and a high price, a tight set of regulations for the marketing of whey proteins, and a lack of understanding about the benefits of whey protein.
The market is still confronted with the difficulty of growth-stifling constraints. One of the most significant market restraints is the high processing and production cost of Hydrolyzed Whey Protein. Certain health-related worries about Hydrolyzed Whey Protein have prevented consumers from developing complete trust in protein powders, stifling the expansion of the global Hydrolyzed Whey Protein market.
Another key factor impeding the growth of this market is the high regulatory issues and certifications required for marketing whey protein.
In terms of market share and revenue, the North American market is expected to grow steadily during the projection period of 2023 to 2033. The analysts at Future Market Insights predict that by 2023 end, the market of Hydrolyzed whey protein in North America is expected to acquire a global market size of 30%.
North America holds a strong position in the global Hydrolyzed whey protein due to the rising production, high consumer purchasing power, well-established food processing industries, the presence of major key players in the region, and public awareness of the health benefits and nutritional value of Hydrolyzed whey protein.
The market value of hydrolyzed whey protein in the United States in 2022 was USD 368 million. The United States, Canada, and Mexico dominate the North American hydrolyzed whey protein market, where it is mostly utilized in the making of tortillas. The trend of RDA (Regulatory Dietary Allowance) for protein consumption will also drive demand for Hydrolyzed whey protein in the United States.
By 2023, Europe will hold approximately 34.8% of the global market share. This region is expected to grow steadily during the forecast period, 2023 to 2033. This region is expected to take up the dominant position during the forecast period.
Europe is anticipated to maintain its lead in the next few years. High consumption of Hydrolyzed whey protein and increased health consciousness are factors contributing to this region's rapid growth.
One of the causes for the need for whey protein products in this region is nutritional inadequacy among Europeans. The market valuation of hydrolyzed whey protein in Europe stood at USD 190 million in 2022. The presence of a big number of elite people is also contributing to the rise of Hydrolyzed whey protein products in this region.
The Asia Pacific is expected to develop significantly over the projected period, owing to rising consumer disposable income and a large number of food processing firms in the region. The Asia Pacific is also a significant player in the global Hydrolyzed whey protein market.
In the Asia Pacific region, China, India, and Japan are the leading manufacturers of Hydrolyzed whey protein. The large profit margins associated with Hydrolyzed whey protein products will also drive market expansion in the future years.
To stay competitive, start-up companies are focused on Research and Development and launching new goods on a regular basis. Manufacturers in the sector have formed alliances with milk suppliers to assure continuous raw material supply and efficient logistics networks. Furthermore, the acquisition has emerged as a crucial business strategy in the industry for expanding its regional footprint and product portfolio. Some of the startups are - HealthXp, Dymatize, MyFitness, Muscle Tech, and My Protein.
The market for Hydrolyzed whey protein is fragmented; nevertheless, key companies in the segment maintain a large share due to a robust distribution channel and a tangible presence in global hot spots. Various initiatives taken by industry players are aiding the sector's growth, and one notable initiative is that of new product introductions.
The key players in this market include Hilmar Ingredients, Naked Nutrition, Fonterra, Saputo, Murray, Leprino Food CO., Westland Milk Producers, Glanbia Foods, and Agropur Inc.
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 5.6% from 2023 to 2033 |
Expected Market Value (2023) | USD 4,749.7 million |
Anticipated Forecast Value (2033) | USD 8,175.5 million |
Base Year for Estimation | 2022 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | Product Type, Application, Sales Channel, Region |
Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
Key Countries Profiled | United States of America, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, China, Japan, India, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
Key Companies Profiled | Hilmar Ingredients; Naked Nutrition; Fonterra; Saputo; Murray; Leprino Food CO.; Westland Milk producers; Glanbia Foods; Agropur Inc. |
Customization | Available Upon Request |
The market is predicted to be USD 4,749.7 million in 2023.
Europe is expected to dominate the market with a 34.8% share in 2023.
A CAGR of 5.6% is forecast for the market until 2033.
The powdered form is expected to grow rapidly in the market.
Demand for skin health and an increasing gymnast provide lucrative opportunities.
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