Demand for whey protein isolate (WPI) products, sales for which have been growing in double-digits, is witnessing an upward trend. This is driven by growing usage in industries such as pharmaceuticals, nutraceuticals, food, dietary products, baby food, weight loss products, and sports drinks.
The key drivers which are influencing the sales in this industry include:
- Increased awareness about health; rising popularity among fitness conscious people regarding protein and protein benefits
- Increased demand of dairy products among all age segments
- Increased awareness and demand for healthy feed options in the pediatric age group
- Growing focus on adopting WPI as a nutrition supplement beyond sporting activities
- Growing demand from the developing markets such as Asia Pacific and Latin America
Due to increased demand, the average price per kilogram for WPI ingredient has been increasing consistently, boosting profit margin for manufacturers. This growth in the price is attributed to the growing demand of WPI from varied industries and different regions of the world. The North American market dominates the global WPI market share pie, while there is increasing demand in the Asia Pacific, Latin American, and European markets.
WPI market is expected to post strong growth in the Asian and the Latin American markets where the age group of 25-45 is the major consumer of WPI. China accounts for a major share of WPI market in Asia Pacific. The Latin American WPI market is also estimated to post strong growth with Brazil and Argentina sharing the major chunk of the pie.
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