The North America's whey protein market is projected to register a CAGR of 6.7% during the forecast period (2022- 2027).
The COVID19 crisis has significantly affected the whey protein market as the consumers were aware of the need for a healthier lifestyle. The engagement of consumers in several physical activities such as body exercises, house works, etc, were draining the energy of the consumers, thereby, the need for supplements that can boost up the energy level and provide the right nutrition to the body was needed among the consumers, but, due to the government rules and regulations, there were closures of several fitness clubs, gyms and other workout centers in the region, which resulted in declining of whey protein requirements as the consumers were not having the assessability to use protein the product, thus, declining in demand and closing of manufacturing unit of several whey manufactures affected the revenues of several companies. Glanbia, Plc, which is a leading company in this segment has witnessed a decline of sales by 10.3% during fiscal 2021, according to the company, the fall was majorly due to the closing of certain retail store, hypermarkets and other health-nutrition selling stores.
Growing consumer awareness about dietary proteins and increasing consumption of dietary supplements are shaping the demand and consumption dynamics of whey protein in the region.
The increase in consumption of whey protein in functional food, infant formula and clinical nutrition coupled with the presence of leading players of whey protein manufacturers in North America is anticipated to play a spirited role in the revenue growth of the region.
Due to the changing lifestyle of the consumers, the demand for a healthy life is also rising among them, this is because the consumers are preventing themselves from several diseases. Moreover, the rising awareness of the consumers towards obesity and its impact is escalating the momentum for these activities. Eventually, the numerous competition of bodybuilding, weightlifting, deadlift, etc are encouraging young consumers to engage with such activities, Simultaneously, the demand for good fitness centers, gyms are rising in this region are the consumers prefer those clubs that are stockpiled with all needed equipment for the body workout. Thus, protein supplements are widely available in the form of whey powders in the country, and a significant share of the population ising for whey protein to meet their daily protein requirements to meet their fitness goals. Eventually, proteins are the most preferred form of supplement consumed for the purpose of weight loss and sports nourishment. Thus, due to several health benefits of protein intake and also the increasing number of fitness clubs in the region is dragging the per capita spending towards the market.
The United States is the leading market. The rising awareness of consumers to maintain a healthier lifestyle is one of the major factors that is driving the market. Moreover, the majority of the consumers in the country are involved in bodybuilding activities, thus increasing younger populations with fitness consciousness spiked up the demand for whey. This is because of the presence of α-lactalbumin, β-lactoglobulin, serum albumin, and immunoglobulins that helps in promoting the muscle growth of an individual. Eventually, these elements also lower the blood pressure rate and inflammation, thereby, due to the proven health benefits by several professional bodybuilders in the country, which is encouraging several consumers of different age groups to adopt the fitness activities, which is one the major reason for driving the market.
Major Players operating in the region are Agropur MSI LLC, American Dairy Producers Institute, Arla Foods, Carbery, Davisco foods international Inc, DMK Group, Fonterra Co-operative Group, Hilmar cheese company, inc, Grande Cheese Company, Milk Specialities Global, among others. Cheese production is the largest and most viable source of whey. Companies are implicitly strengthening their production resources for whey protein, by investing in cheese production across the region. Owing to the rising penetration of whey protein into the sports nutrition industry, the major companies are also focusing on new and innovative product launches.
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The COVID19 crisis has significantly affected the whey protein market as the consumers were aware of the need for a healthier lifestyle. The engagement of consumers in several physical activities such as body exercises, house works, etc, were draining the energy of the consumers, thereby, the need for supplements that can boost up the energy level and provide the right nutrition to the body was needed among the consumers, but, due to the government rules and regulations, there were closures of several fitness clubs, gyms and other workout centers in the region, which resulted in declining of whey protein requirements as the consumers were not having the assessability to use protein the product, thus, declining in demand and closing of manufacturing unit of several whey manufactures affected the revenues of several companies. Glanbia, Plc, which is a leading company in this segment has witnessed a decline of sales by 10.3% during fiscal 2021, according to the company, the fall was majorly due to the closing of certain retail store, hypermarkets and other health-nutrition selling stores.
Growing consumer awareness about dietary proteins and increasing consumption of dietary supplements are shaping the demand and consumption dynamics of whey protein in the region.
The increase in consumption of whey protein in functional food, infant formula and clinical nutrition coupled with the presence of leading players of whey protein manufacturers in North America is anticipated to play a spirited role in the revenue growth of the region.
Key Market Trends
Increasing Number of Fitness Clubs
Due to the changing lifestyle of the consumers, the demand for a healthy life is also rising among them, this is because the consumers are preventing themselves from several diseases. Moreover, the rising awareness of the consumers towards obesity and its impact is escalating the momentum for these activities. Eventually, the numerous competition of bodybuilding, weightlifting, deadlift, etc are encouraging young consumers to engage with such activities, Simultaneously, the demand for good fitness centers, gyms are rising in this region are the consumers prefer those clubs that are stockpiled with all needed equipment for the body workout. Thus, protein supplements are widely available in the form of whey powders in the country, and a significant share of the population ising for whey protein to meet their daily protein requirements to meet their fitness goals. Eventually, proteins are the most preferred form of supplement consumed for the purpose of weight loss and sports nourishment. Thus, due to several health benefits of protein intake and also the increasing number of fitness clubs in the region is dragging the per capita spending towards the market.
United States Led the Market
The United States is the leading market. The rising awareness of consumers to maintain a healthier lifestyle is one of the major factors that is driving the market. Moreover, the majority of the consumers in the country are involved in bodybuilding activities, thus increasing younger populations with fitness consciousness spiked up the demand for whey. This is because of the presence of α-lactalbumin, β-lactoglobulin, serum albumin, and immunoglobulins that helps in promoting the muscle growth of an individual. Eventually, these elements also lower the blood pressure rate and inflammation, thereby, due to the proven health benefits by several professional bodybuilders in the country, which is encouraging several consumers of different age groups to adopt the fitness activities, which is one the major reason for driving the market.
Competitive Landscape
Major Players operating in the region are Agropur MSI LLC, American Dairy Producers Institute, Arla Foods, Carbery, Davisco foods international Inc, DMK Group, Fonterra Co-operative Group, Hilmar cheese company, inc, Grande Cheese Company, Milk Specialities Global, among others. Cheese production is the largest and most viable source of whey. Companies are implicitly strengthening their production resources for whey protein, by investing in cheese production across the region. Owing to the rising penetration of whey protein into the sports nutrition industry, the major companies are also focusing on new and innovative product launches.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Agropur MSI, LLC
- Arla Foods
- Carbery Group
- DMK Group
- Glanbia Plc
- Davisco foods international Inc.
- Iovate Health Sciences Inc. Company
- PepsiCo Food company
- FrieslandCampina Ingredients
- Varsity Brands Sports equipment company
Methodology
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