Global Whey Protein Market Size, Share, Growth Analysis, By Type(Whey protein concentrate (WPC) and Whey protein isolate (WPI)), By Form(Powder and Liquid) - Industry Forecast 2024-2031

Global Whey Protein Market size was valued at USD 6.05 billion in 2022 and is poised to grow from USD 6.69 billion in 2023 to USD 14.86 billion by 2031, growing at a CAGR of 10.50% in the forecast period (2024-2031).

The growing awareness about healthy lifestyles has led to an increase in the demand for whey protein. This trend has been fueled by the recommendation of protein supplements by fitness and sports clubs, which has drawn the attention of customers to whey protein. Besides, the food industry uses whey protein in various products such as baked goods, dairy products, beverages, cereals, chocolates, and baby foods, due to its antibacterial and antihypertensive properties. The increasing focus on consuming immunity-boosting products has also led to an upsurge in the demand for protein supplements in the daily diet of consumers. Whey protein is used to improve biological value, create superior textural, physical, and other food functional properties, and formulate low-lactose and high-protein products. Research efforts to discover new applications, such as the development of edible films, are expected to further support industry growth. The consumption of whey protein is also beneficial to cancer patients receiving radiation therapy or chemotherapy as it aids in digestion and provides an excellent alternative to meet their nutritional needs. In the personal care industry, whey protein is used as a significant ingredient in the formulation of skincare and hair care products, thanks to its skin-hydrating and hair-conditioning properties. Food and beverage producers are also substituting functional whey protein for high-fat and pricey components like cream cheese, milk, and butter in their packaged meals while maintaining the formulations' original look, flavour, and texture. The demand for products will increase as a result of companies adding functional ingredients to their product labels due to increased competition in the packaged food industry.

US Whey Protein Market is poised to grow at sustainable CAGR for the next forecast year.