In terms of revenue, the Global Whey Protein Market is expected to reach USD 16.4 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.2% from 2022 to 2028.

In recent years, the supply of whey is mainly driven by cheese production, which accounts for approximately 95% of the world’s liquid whey and is forecasted to grow by approx. 2% annually. The remaining 5% of whey production stems from casein production, which is rather stagnant.

Key Findings:

• The Whey Protein Concentrate (WPC) sub-segment of the type segment is anticipated to dominate the Whey Protein Market. The increasing use of WPC in the manufacturing of dairy desserts, beverages, and yogurt products is expected to generate revenue for this segment.

• The application segment accounted for the largest market share in 2021 for the Whey Protein Market. The product is preferred for bakery and confectionery products owing to its ability to emulsify, brown, foam, and thicken products.

• North America is the largest regional segment. This surge is attributed to the rising demand for whey protein in developing economies such as India, China, and Indonesia.

Whey powder accounts for around 60% of the total global demand for whey products (excluding lactose and permeate powder) and is showing decent growth rates in several regions. For the remaining 30%, the refined Whey Protein products have increased approximately by 7% annually. This is mainly driven by a strong trend towards protein and high protein products across the entire food and drinks market. This is despite the fact that most consumers in the western developed world already get sufficient protein in their diets.

North America is expected to dominate the Global Whey Protein Market in 2021 and is likely to continue the same trend during the forecast period. An increase in government initiatives and support for Whey Protein growth is likely to generate demand in this region for the market in near future. Increasing demand for Whey Protein in a healthy diet and increasing inclination toward fitness in countries such as India and China are further adding to the spotlight. Significant improvements in the protein intake of the young generation, especially in the developing economies, are providing a thrust to the Whey Protein Market growth.