This is due to various factors which include increasing awareness among consumers about the benefits offered by whey protein, and rising number of health clubs and fitness centres across the globe.
Whey protein is a type of dietary supplement sourced from whey which is the by-product of cheese production. This highly soluble protein has antioxidant, antimicrobial and antiviral properties. Whey protein can be easily absorbed and offers numerous health benefits which include boosting the immune system, supporting fat burning as well as improving protein synthesis and insulin sensitivity. As a result, it is majorly used in the manufacturing of various products such as ice creams, personal care products, infant food, soft drinks, frozen desserts and nutritional foods among others. A new research report by IMARC Group, titled “Whey Protein (Powder and Concentrate) Market - Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global whey protein market reached a volume of more than 4 Million Tons in 2017. The report further expects the market to reach a volume of more than 5 Million Tons by 2023, at a projected CAGR of 5% over the forecast period.
Global Whey Protein Market Drivers/Constraints:
Over the years, a vast number of fitness centres and health clubs have started recommending whey protein to their consumers. This is one of the primary factors which has been supporting its demand across various end-use sectors.
On account of antiviral, antimicrobial, anti-oxidant and anti-tumour properties of whey protein, the consumers have started consuming it on a daily basis which has contributed to a significant rise in the overall growth of the market.
Some of the factors which have positively influenced the growth of the global whey protein market include increasing interest in sports expressed by young population, and rising application of whey protein in clinical and pharmaceutical segments across developing nations.
However, the manufacturing cost of whey protein is higher than other supplements and its excessive consumption can cause adverse health effects. These are few of the obstacles which are impeding the market growth.