Whey Protein Ingredients Market is expected to reach USD 16.04 billion by 2023
Added: (Thu Jan 03 2019)
Pressbox (Press Release) -
Global Whey Protein Ingredients Market– US protein supplier Essentia has acquired Danish Scanflavour in a bid to increase its global presence.
Recent Developments
Protein ingredients supplier Essentia has acquired Danish-based manufacturer Scanflavour A/S. The acquisition unites two industry-leading protein companies and expands and strengthens Essentia's global presence as the leading global manufacturer in protein solutions. Scanflavor is one of the largest producers of Whey protein ingredients derived from pork collagen.
Essentia is owned by the Lauridsen Group Incorporated (LGI), has an annual turnover of US$220 million and with a workforce of 500 employees, and is commercially present in over 65 countries. Before the acquisition, effective June 1, 2018, Palsgaard, the Danish emulsifier supplier, was the majority shareholder of Scanflavour. They will continue to distribute products from Scanflavour to the dairy segment.
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Market Segmentation
Market Data Forecast published a report named The Global Whey Protein Ingredients Market size was around USD 10.19 billion in 2018. It is expected to grow at a CAGR of 9.5% to reach USD 16.04 billion by 2023.
The report is segmented by
Type
· Whey protein concentrates
· Whey protein isolates
· Demineralized whey
· Hydrolysed whey protein
Application
· Dairy products & frozen foods
· Sports nutrition
· Bakery & confectionery
· Beverages
· Meat products
· Medicine
Based on type, the whey protein concentrate segment dominated the global market in 2016 and is anticipated to maintain its dominance throughout the forecast period. The whey protein concentrate segment is projected to grow at a significant CAGR of 9.3% during the forecast period. Under application, Sports nutrition is the most used among bodybuilders and gym enthusiasts, as well as people who need to lose weight or are simply lacking protein in their diet.
Geographical Segmentation:
Based on geography, the whey protein ingredients market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America commanded a considerable whey protein ingredients market share of the total revenue in 2015, followed by Europe and Asia-Pacific. Developing economies in the Asia-Pacific region such as Korea, China, and India are anticipated to witness a significant growth rate owing to increase in consumption of sports nutrition and whey protein-based beverages and confectionery products. In addition, increase in investments by pharmaceutical giants in R&D on the use of ingredients for specific medicinal formulations is another key element that fuels the growth of the market.
Key market players in the market are -
Fonterra Co-Operative Group Ltd
Essentia
Carberry food ingredients
Glanbia plc
Davisco Food International
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The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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