US$ 8.8 Bn Global Whey Protein Ingredients Market Size to grow by 4.4% in 2018
Posted by Alex Werner on December 7th, 2017
The global whey protein ingredients market size is estimated to be valued at USD 8.8 billion in 2017 and will register a CAGR of 3.2% between 2017 and 2027.
The industry is set to create additional revenue opportunity of above USD 4.2 billion between 2017 and 2027. The industry, though fragmented, will find market opportunity in developing economies of Asia Pacific and Africa. Globally, the demand is expected to escalate from its medicinal property to mitigate the risk of sarcopenia among geriatrics population and its health benefits as supplements.
Bekryl’s market research report, Global Whey Protein Ingredients Market Size Analysis and Industry Opportunity finds that Western Europe region accounted for 36% of global sales. North America and Western Europe are expected to collectively lose 596 basis points to other developing regions. However, will retain its market dominance throughout the forecast period. These two regions are not only dominates the whey protein ingredients market share in terms of consumption but also in production capacity. As such, industry competition is fairly high and saturated in the region.
Comparing, year-end whey protein ingredients consumption, Western Europe whey protein ingredients market volume drops from 2.9% to 2.6% in 2017, while increased by nearly 10 basis points from 6% to 6.2% in Asia Pacific. The change in basis points, though relatively small, will lead to gain of 486 basis points between 2017 and 2027 for industry players in Asia Pacific. Falling prices will further accelerate the consumption. As per the industry trends, there has been a decline of 7% in prices between 2010 and 2016. The trend is expected to be more or less similar throughout the forecast period. The region has over 90 active suppliers.
Asia Pacific and Africa are the two most promising region for whey protein ingredients market players looking to further strengthen their business and increase their ROI in near future. Competition landscape is shifting towards these regions as there has been considerable development on macro-level. Per capita consumption of ingredients is catching up with that of developed regions. The region has 6X higher population than North America. Moreover, adoption of healthy lifestyles along with well-developed distribution channels is expected to create favorable market opportunity for industry players.
To know more about the industry and receive sample report, fill out the form available at: https://bekryl.com/industry-trends/whey-protein-ingredients-market-size-analysis
Whey protein consumption will rise at impressive rate in Asia Pacific, especially in China and India. However, the concern is custom duty tax is too high and reaches upto 55% to 65% - that can affect the profit margins. As such, the companies rely on the local vendors and production capacity – which is too low to meet the supply demand. Production capacity could be shifted to these regions to establish and strengthen the market presence. In 2016, China whey protein ingredients market revenue will register 2.4X growth to reach USD 1.6 billion by 2027.
Middle East whey protein ingredients market value is relatively witnessing slower growth as the region is dependent on import of these ingredients – leading to higher product cost. Most of the import is done through Europe and North America.
Overall, much of the demand will generate from its application as sports nutrition. The region accounted for 20% of total sales in 2016 and will grow by 1.5X to gain 162 basis points over the forecast period. This will be followed by its application in beverages and dairy industry. Moreover, whey protein ingredients are increasingly being embraced in processing of meat products, poultry, and fish owing to the water binding capacity. This prevents the depletion of mass during thermal processing and storage of the product.
Some of the key industry players in the global whey protein ingredients market size are Amco Proteins, Cargill, Inc., Davisco Foods International, Inc., Darrigold Inc., Carbery Food Ingredients, Arla Food Ingredients, Dairy Farmers of America, Inc., Fonterra Co-operative Group Limited, Glanbia PLC, Meggle Group, Maple Island, Valio Limited, and Milk Specialties Global.
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About the AuthorAlex Werner
Joined: December 7th, 2017
Articles Posted: 25
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