Whey Protein Ingredients Market 2031
The outbreak of the COVID-19 pandemic led to have a positive impact on growth of the global whey protein ingredients market.
PORTLAND, OR, UNITED STATES, July 22, 2022 /EINPresswire.com/ -- According to the report, 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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