The US continues to be the largest producer and consumer of whey protein. There are over 200 processing units operating in the US that are used for powder blends, making snacks, infant foods and nutritional supplements. The US is the largest exporter of whey protein worldwide with 66 percent of its production. About 34 percent of the production is consumed locally. According to ConsumerIntel360, whey protein in value terms increased at a CAGR of 13.6% during 2014-2018. Over the forecast period of 2019 to 2023, the industry is expected to record a CAGR of 8.5%, increasing from US$ 13,953.0 million in 2019 to reach US$ 19,344.0 million by 2023.
We can see two factors have worked well in making whey product business grow in the US. First is customization and tailored specifications which help in availability of range of whey protein products with variable levels of protein percentage. Second factor is pricing, where pricing ranges from affordable to premium making whey products to penetrate deeper in the US markets. These have helped in covering various markets from food supplement for body builders, infant foods, nutritional supplement for elderly and premium range to build immunity and muscle strength.
One of the key reasons for increasing popularity of whey proteins in the US is ability of US suppliers to deliver customized whey products to their customers.
This technology development has helped in penetrating local markets and address range of customer demographics. Modified and enhanced with functional and nutritional characteristics whey products are widely available in the US. The US has many small scale developers that provide customized whey products for optimal performance. Local companies have developed their own recipes of snacks, shakes, ice-creams, bars, yogurts, biscuits and many such products.
Citing the growing response to snacking products, investment has increased significantly in the sector. The number of sweet and savory biscuit launches in the US has doubled in the last five years. The shift is suggesting that now whey manufacturers are getting serious covering unpleasant taste and appearance of snacks and bakery products developed from whey. And they are looking at this big market opportunity by collaborating with existing bakery and snack product manufacturers, helping them to make newer recipes and products.
Recently, Arla has introduced its concept whey biscuits for biscuit manufacturers. And with this clever move Arla could bring a new range of whey biscuits in the market. Arla will be helping biscuit manufacturers to develop a range of whey biscuits that will overcome unattractive look, taste and feel of whey biscuits available today. This will change the trend of whey biscuits and will open a new market segment in coming years.
New market segments are making whey manufacturers to rethink on their whey products and make them processed to the finest quality. The innovative functional ingredients are driving companies in whey production to streamline production process, improve texture, work on increasing shelf-life, enhance nutrition, and reach better sensory traits.
Premium range of advanced whey proteins with improved quality and immune supporting nutrition are gaining popularity. These whey products will get higher demands in infant, sports and clinical nutrition markets.
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