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The Latin America, Middle East and Africa Whey Protein Market would witness market growth of 13.2% CAGR during the forecast period (2020-2026). Rising demand from the sports, performance, and health industry has fueled the growth of the whey protein-based supplement market. Moreover, food-processing industries are utilizing whey protein for the manufacturing of health-providing drinks. In Asian economies, the increasing middle-class population and economic development have resulted in the increment in the consumption rate of health drinks.
Increasing health awareness regarding body shape and fitness, coupled with improving body immunity, resulted in the considerable rise in demand for whey protein in urban areas. Over the years, the number of fitness enthusiasts has resulted in rising consumer demand for protein sports beverages, nutritional snack bars, specialized nutritional drinks, and other products, that are manufactured to maximize athletic performance.
The global youth is increasingly getting inclined towards sports and wellness exercises, thereby booming the demand for sports supplements. In recent years, sports drinks combined with whey protein have been gaining traction. In developing economies, the concept of sports drink is relatively new. However, as the product is slowly gaining awareness and availability, the sports drinks industry has witnessed a huge growth rate in terms of both volume and worth.
Based on Type, the market is segmented into Whey Protein Concentrates, Whey Protein Isolates and Whey Protein Hydrolysates. Based on Applications, the market is segmented into Nutritional Supplements, Food & Beverages, Personal Care and Animal Feed & Pet Food. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Saputo, Inc., Glanbia PLC, Fonterra Co-operative Group Limited, Arla Foods Amba, Carbery Group Ltd., Lactalis Group, Olam International Limited, Maple Island, Inc., Leprino Foods Company and Agropur Dairy Cooperative (Davisco Foods International, Inc.)
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