Whey Protein Market Size, Share, Growth Analysis, By Type(Whey protein concentrate (WPC) and Whey protein isolate (WPI)), By Form(Powder and Liquid), By Region - Industry Forecast 2024-2031

Whey Protein Market size was valued at USD 6.05 billion in 2022 and is poised to grow from USD 6.69 billion in 2023 to USD 14.86 billion by 2031, growing at a CAGR of 10.50% in the forecast period (2024-2031).

The competitive landscape of the whey protein market is highly fragmented, with numerous local and players operating in the market. The market players are primarily focusing on product innovation, development, and expansion strategies, such as mergers and acquisitions, partnerships, collaborations, and agreements, to strengthen their market position. Additionally, market players are investing in research and development activities to develop new products with enhanced functionalities and nutritional value to meet the changing consumer preferences and sustain their competitive edge in the market. 'Arla Foods amba (Denmark)', 'Agropur Cooperative (Canada)', 'AMCO Proteins (US)', 'Carbery Group (Ireland)', 'Cargill, Incorporated (US)', 'Davisco Foods International, Inc. (US)', 'DMK Group (Germany)', 'Fonterra Co-operative Group Limited (New Zealand)', 'Glanbia plc (Ireland)', 'Hilmar Cheese Company, Inc. (US)', 'Kerry Group plc (Ireland)', 'Lactalis Ingredients (France)', 'Milk Specialties (US)', 'MÜLLER MILCHERZEUGNISSE GmbH & Co. KG (Germany)', 'ProtiFarm (Netherlands)', 'Sachsenmilch Leppersdorf GmbH (Germany)', 'Saputo Inc. (Canada)', 'The Archer Daniels Midland Company (US)', 'Volac International Limited (UK)', 'Westland Milk Products (New Zealand)'

One major driver of the whey protein market is the increasing demand for protein supplements and sports nutrition products due to the growing popularity of low-carb and high-protein diets. Additionally, the rising number of fitness enthusiasts and athletes, coupled with the increasing awareness about the health benefits of whey protein, such as improving muscle mass, reducing body fat, and boosting immunity, has further propelled the growth of the market.

One key market trend in the whey protein market is the growing demand for clean label and natural products. Consumers are becoming increasingly health-conscious and are seeking products with fewer additives and ingredients. This has led to a shift towards natural and organic products, including whey protein. Market players are responding to this trend by offering clean label and natural whey protein products with minimal additives and processing. Additionally, product labeling and transparency have become more critical as consumers seek greater information about the origin and quality of the ingredients used in whey protein products.

North America dominated the whey protein market, owing to the increasing demand for protein supplements and sports nutrition products. The growing popularity of low-carb and high-protein diets, coupled with the rising number of fitness enthusiasts and athletes, has driven the demand for whey protein in the region. In addition, the increasing awareness about the health benefits of whey protein, such as improving muscle mass, reducing body fat, and boosting immunity, has further propelled the growth of the market in North America.