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WELLESLEY, MA --(Marketwired - January 19, 2016) - Whey ingredients should continue to grow in both value and volume from 2015 to 2020. Stable demand in core markets -- the U.S. and countries in the E.U. region, will drive growth. BCC Research reveals in its new report that increasing demand in emerging economies, especially in Asia-Pacific and Latin America, also will move the market.
Whey protein ingredients are currently playing a key role in effectively and efficiently replacing milk in many edible products. Primarily, whey proteins were used in intensive sports nutritional products and were restricted to usage by athletes. However, with increased awareness among mass consumers, the consumption of this commodity has increased in the form of nutrition bars, nutritional beverages, infant nutritional formula and weight-management supplements.
The global market should reach $13.5 billion in 2020 from $9.2 billion in 2015, reflecting a five-year annual compound growth (CAGR) of 6.5%. The food and beverage segment will increase at a five-year CAGR of 5% to grow from $4.3 billion in 2015 to $5.5 billion in 2020. Sports nutrition as a segment is expected to reach $1.7 billion and $2.7 billion in 2015 and 2020, respectively, increasing at a CAGR of 9%.
Fundamentally, increased focus on health across age groups and gender is driving adoption of whey protein beyond sporting activities. Whey protein demand overall is being driven by widespread application across end markets -- from health food, bakery, confectionery, functional nutrition, dairy, ice cream and other processed food. Demand is being driven by change in consumer behavior toward the healthy-food segment, which is a global phenomenon. Whey derivatives are also finding increased adoption in niche categories such as infant formula products.
Emerging economies in Asia and Latin America are driving the demand for whey ingredients, as well. Steady economic growth in key emerging economies in these regions has raised increased disposable income and a burgeoning middle-class population that appears ready to spend more on lifestyle and health food. This is significant especially in volume terms, with large populations in these markets.
"Whey proteins are currently used in newly released food items that are very popular in the Asia-Pacific region. Primarily, people within the age group of 25 to 45 years are key consumers of such products. They include mainly office workers who require products to alleviate stress at regular intervals," says BCC Research analyst Pankaj Chaubey. "In Latin America, the whey protein market generated $411 million in 2014 and is expected to grow at a five-year CAGR of 5.3% to reach $565 million in 2020. In 2014, two countries, Brazil and Argentina, collectively accounted for nearly 39% of this market."
Whey Protein Products: Global Markets (FOD072A) analyzes regional export and import trade in volume terms, with application breakdowns in six key categories: bakery, chocolate confectionery, dairy, functional nutrition, ice cream, and other processed food. Analyses of global market drivers and trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020 also are provided.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world's greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email firstname.lastname@example.org.
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