(MENAFNEditorial) By definition, whey protein is a mix of globular proteins all isolated from whey which is the liquid material which is obtained as a by-product of cheese production. The substance is in very high demand for its applications in the production of nutraceuticals, infant food, sports beverages, healthcare products and dietary supplements among others. It finds applications in these fields due to its high protein content, significant lactose and mineral content and other technical functions. Commercially, the market is divided into three based on application, namely functional food, functional beverages and dietary supplements. Recent research has also pointed out the thereapeutic effect of whey via clinical trials. It has proven to be effective in treating cancer, hepatitis, HIV, bone disorders such as osteoporosis, cardiovascular conditions and also as an antimicrobial agent.
Among the three application based segments, functional food has the major market share due to rising demands across the world. The various health benefits offered by functional food has led to it being in high demand across the world in different markets. The immune system boosting properties offered by whey is also another point of interest for consumers and manufacturers alike. The presence of components such as betalactoglobulin, alpha-lactalbumin, lactoferrin, immunoglobulin and glycomacropeptide is responsible for the increased immune-enhancing properties of whey. These above mentioned properties are what makes it an attractive prospect in the functional food category.
Looking at the global markets, the North American and European markets are the ones considered as the mature markets. Market share wise they dominate the rest of the markets but on the aspect of growth in future years they are lacking since they have already attained the saturation point of the market. In future prospects, markets such as Asia Pacific and Latin America show the highest growth rates. Asia Pacific has the highest growth rate worldwide in addition to being the third largest market revenue generator. Increasing health consciousness in countries such as India and China and the rise in per capita income as well as disposable income is the main reason for this trend. Other drivers include a rise in demand for bakery products which use whey protein as a main ingredient. Another surprisingly attractive investment opportunity in the Asia Pacific is the Japanese market. Inspite of a small market size, Japan has shown significant growth rates in recent times. Similar to China and India, rising health consciousness is the major booster for the functional food market.
The next major category is functional beverages, which include all the non-alcoholic beverages that are consumed in order to provide some sort of health effect to the body. Soft drinks and carbonated drinks do not fall under this category normally. What does come under are health drinks, protein shakes, energy drinks and sports drinks. These drinks in addition to including also contain other ingredients such as minerals, amino acids, vitamins, several herbs and maybe even fruit or vegetable extracts. The segment is further divided into three main sub-segments, namely sports drinks, energy drinks and nutraceuticals. These type if drinks are albeit not very popular for their taste the presence of omega-3 in particular in most of them gives them a bitter taste. Again looking at global regions the previous pattern is followed with Asia Pacific being the best market to invest in. Globally, the US is the largest contributor to this segment. Its busy lifestyle, fast food habits and health consciousness styles suit the consumption of functional beverages. On the nutraceuticals segment, Europe is the leading market globally due to better consumer awareness in the region about pro-health food products.
The dietary supplement segment is also showing significant growth rate in recent years. Again this segment also follows the beaten road with North America being the largest market revenue generator with the major contribution coming from the USA. Recent years have seen advancements in products as well as research leading to the development of sophisticated technology leading to an increased consumption of whey protein in the form of various innovative health products. With most developed countries already having a matured market, the onus is now on the developing countries for the future prospects of the market.
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