Rising health consciousness and increasing disposable income to drive global whey protein powder market through 2024
According to TechSci Research report, “Global Whey Protein Powder Market By Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024”, global whey protein powder market is projected to grow at a CAGR of over 15% during 2019-2024, on the back of growing health awareness and increasing demand for health and dietary supplements pre or post workout. Moreover, rising awareness regarding the improvement of dietary nutrient content and its positive effect on the immune system are bolstering global whey protein powder market. Additionally, increasing demand for whey protein from FMCG companies is expected to have a positive impact on the market during forecast period.
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“Global Whey Protein Powder Market”
In terms of distribution channel, global whey protein powder market has been segmented into store-based retail and non-store-based retail. The store-based retail segment accounted for majority share of the global market for whey protein powder in 2018. The non-store-based retail is witnessing healthy growth, owing to increasing popularity of the e-commerce market. Moreover, e-commerce and technology are transforming this category with new user experiences, where luxury brands and small start-ups alike are racing to embrace e-commerce, making this channel even stronger. Asia-Pacific whey protein powder market is anticipated to register fastest growth in coming years, backed by increasing population, rising awareness related to lifestyle diseases and improving living standards in developing countries like India and China.
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“Increasing consumption of dietary products which contain whey protein such as concentrate, isolate and hydrolysate, both post- and pre-workout, coupled with continuing growth in food & beverages industry where whey protein is used as an ingredient is anticipated to boost demand for whey protein powder during forecast period. Moreover, increasing focus of industry players on expanding whey protein production is expected to have a positive impact on the market over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Based on type, global whey protein powder market has been categorized into whey protein concentrate, whey protein isolate and whey protein hydrolysate. Of these types, whey protein concentrate segment dominated the market in 2018 and is expected to account for the largest share in global whey protein powder market during the forecast period. The growth of whey protein concentrate segment can be majorly attributed to increasing demand from personal care industry of milk-based proteins in skin and hair care cosmetics. North America dominated the market in 2018, backed by widespread consumption of whey protein powder by health-conscious population in the region.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast global whey protein powder market size.
- To classify and forecast global whey protein powder market based on type, distribution channel and regional distribution.
- To identify drivers and challenges for global whey protein powder market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global whey protein powder market.
- To conduct the pricing analysis for global whey protein powder market.
- To identify and analyze the profile of leading players operating in global whey protein powder market.
“Global Whey Protein Powder Market By Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global whey protein powder market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global whey protein powder market.
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