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Whey protein is a mixture of globular proteins isolated from whey, which is the watery part of milk that remains after the formation of curd, the liquid material created as a by-product of cheese production. The rising demand for dairy ingredients, pediatric milk segments in developing countries, health and wellness trends driving the need for supplement diet and increasing popularity of whey supplements among youngsters in Asian countries are the major factors that are boosting the growth of the market.
Global Whey Protein Market size is projected to reach approximately $9.01 billion by the end of 2024 with a CAGR of close to 7.7% from $6.2 billion in 2017 during the forecast timeline 2018-2024. The major factors that propel the growth of the Global Whey Protein Market are rising demand for dairy ingredients, consumer awareness towards healthy diet, growing functional beverage market in the Asia Pacific, rising trend of the health club and fitness center, increasing percentage of elder age people across the globe and keen interest of youngsters towards sports and nutrition. However, undefined regulatory guidelines, health/safety concerns when use is not regulated
Global Whey Protein Market is segmented by type, which comprises whey protein isolate, hydrolysed whey protein, and whey protein concentrate. Among these types, hydrolysed whey protein segment holds the largest market share is owing to the growing keen interest and health awareness. Whey protein concentrate is high in lactose and low in protein which affects the consumer buying behaviour towards whey protein isolate. By application, the market is segmented into confectionery, dairy, bakery, dietary supplements and some others. Among these, dietary supplement segment dominates the market owing to the presence of buying behaviour of customers coupled with a keen interest in fitness in the younger population. By Geography, Europe contributes the major market owing to the availability of fitness club, and increasing number of geriatric population in this region and the Asia Pacific is anticipated to have the major market growth during the forecast period.
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To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
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The primary critical players in the Global Whey Protein Market are:
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