Europe Whey Protein Market Report 2022 - Growing Use of Whey Proteins in the Functional Food and Beverages Industry - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Europe Whey Protein Market" report has been added to ResearchAndMarkets.com's offering.

Europe Whey protein market accounted for the largest market share of around 34% of the global market revenue in 2020. The market was worth $3,128 billion in 2020 and is expected to grow at the CAGR of 6.9%.

Increasing market revenue in this region is due to the increase in the geriatric population and fitness clubs. Of all the major economies in Europe, the U.K. accounts for around 18% of the total whey protein market, followed by Germany, France, Russia, Spain, and Italy. Russia's whey protein market is forecasted to be the fastest-growing in the region at the CAGR of 8.1%.

Changing socio-economic trends and dietary patterns in Europe has led to a shift in dietary patterns leading to an increased demand for plant proteins over animal proteins. The rising trend of fitness centers and health clubs is estimated to drive the whey protein market in the near future. In addition, the growth in the market has been demand-driven from the sports and infant formula industry.

Furthermore, growing negative publicity and corresponding concern towards the harmful effects of meat and meat products is creating demand for substitute protein products, creating a customer base for whey proteins. The increasing demand for whey protein in Europe is also because of emerging new applications of whey.

Whey ingredients were the top 10 food trends in Europe in 2018. Top chefs and innovative producers of whey products are adding it to everything from frozen snacks to desserts and frozen entrees to sauces, dips, dressings, and more to experiment and make new healthy products.

Growing awareness about whey protein products in the health sector is another driving factor in European countries. Moreover, increasing demand for pharmaceutical products and pediatric foods is also expected to boost the growth of the European whey protein market. In contrast, the growth of the whey protein market is majorly restrained by the high manufacturing cost.

In addition, the regulatory issues, certification for marketing, and health & safety concerns are observable factors hindering the market's growth. Creating consumer awareness, recipes, and usage ideas are strategies followed by major players to overcome the unfamiliarity associated with the product.

High cost of products and production cost, maintaining the safety of products, and developing strong supply chain are the current issues faced by the manufacturers to maintain a steady supply. Nevertheless, the sports sector is considered a huge opportunity that could hail the changing dynamics of the whey protein market in the region.

Major producers of whey protein and its products are Carbery Group, Arla Foods, Glanbia PLC, Meggle Group, and Valio Limited. All these companies are continuously exploring the new application of whey protein across various industry segments.

Aggressive marketing of major players has increased the sales of whey protein in recent years. Arla Foods Ingredients, a Denmark-based dairy conglomerate, has launched WheyHi as a part of its latest marketing campaign, "Whey Better protein."

The focus is to create awareness about nutrition benefits and multiple applications of whey protein and enable beverage and food companies to benefit from the growing trend by entering new categories.

Industry Dynamics

Drivers

• Increasing awareness about health benefits of diet supplements
• Growing use of whey proteins in functional food and beverages industry
• Increasing demand for dietary proteins

Restraints

• High cost of ingredients and production
• Growing vegan population & whey protein alternatives
• Health & safety concerns and undefined regulations

Opportunities

• Growing dietary supplement prescription
• Surging demand for high-quality protein in food industry
• Increasing use of protein products in the personal care industry

Porter's Five Forces Analysis

Future Trends in Whey Protein Industry

Value Chain Analysis

Industry Policies & Regulations

Market Innovations

Companies Mentioned

• Agropur MSI, LLC
• Arla Foods
• Carbery Group
• Champignon-Hofmeister Group
• DMK group
• FriesiandCampina Ingredients
• Glanbia Plc
• Hilmar Cheese Company Inc
• Lactalis Ingredients
• Land O'Lakes Inc
• Leprino Foods Co
• Milk Specialties Global
• Meggle Group
• Saputo Ingredients
• Fonterra Co-operative Group
• Volac

For more information about this report visit https://www.researchandmarkets.com/r/qfoji4

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Laura Wood, Senior Press Manager
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