The Mexico whey protein market size was valued at USD 986.51 million in 2022 and is expected to surpass USD 1.89 billion by 2031, expanding at a CAGR of 7.5% during the forecast period, 2023–2031. Growth of the market is attributed to the increase in trend of fitness center, health club, adoption of protein rich diet, and increasing population.
A whey protein is made up from whey. It is a byproduct of cheese. The proteins contain immunoglobulins, serum albumin, β-lactoglobulin, and α-lactalbumin. Protein is majorly used as a dietary supplement and sold in powder form to add into beverages.
The Covid-19 pandemic affected the demand and supply of whey protein market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
Major development in sport nutrition sector is projected to boost the market in the coming years.
Increasing number of chronic illness due to change in life style among people is the major factor fueling the market.
Increase in number of people who have milk allergy, prefer other type of protein is anticipated to restrict the market growth.
Lack of awareness about whey protein possesses a main challenge that can hamper the market expansion during the forecast period.
Scope of Mexico Whey Protein Market Report
The report on the Mexico whey protein market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Whey Protein Market – Mexico Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product Type (Hydrolyzed whey protein, Whey Protein Isolate, and Whey Protein Concentrate) and Applications (Infant Formula, Functional/Fortified Food and Sports and Performance Nutrition)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players covered in the Report
Agropur Msi, LLC, Glanbia PLC, Arla Foods Ingredients Group P/S, Fonterra Co-operative Group Limited, and Ornua Co-operative Limited
Mexico Whey Protein Market Segment Insights
The Infant Formula Segment Accounts for Key Share of the Market and Expected to Grow at a Rapid Pace
Based on applications, the Mexico whey protein market is divided into infant formula, functional/fortified food, and sports & performance nutrition. The infant formula segment accounts for a key share of the market. Growth of the market is attributed to increasing number of chronic illness cases, rising demand for dairy ingredient, and rapidly changing lifestyle. The functional/fortified food segment is anticipated to expand at a rapid pace during the forecast period due to adoption of healthy diet, increase in application in personal care industry, and rapid urbanization.
The Whey Protein Concentrate Segment Holds Major Market Share
On the basis of product types, the market of Mexico whey protein is categorized into whey protein isolate, hydrolyzed whey protein, and whey protein concentrate. The whey protein concentrate is most cost effective, less processed, and basic type of whey of all categories. It has major cholesterol, sugar, carbohydrates, and fats.
Whey protein isolate are lower in carbs and fat, more expensive than whey protein concentrate, it gives major amount of protein, easy to digest for people with lactose tolerance, people who have particular diet to follow they use whey protein isolate.
Hydrolyzed whey protein is the ultra-form and most pure of whey protein and is made up from a method called as hydrolysis. In this process, the protein segments are broken down into minor segments. Hydrolyzed whey protein is useful for the people who have digestive problem, milk allergies, often used for speed up the process of recovery, protein synthesis, and high-level athletes.
Rapid development in the bakery and functional food sector, increase in the demand for dairy alternatives in the Mexico with whey protein being the great suitable alternative is projected to propel the market. With the Eastern world is producing whey protein in suitable amount, the market of Mexico became one of the major import hubs for the whey protein due to factors such as increasing younger populations with fitness awareness spiked up the demand for the whey proteins, as it is an important factor in bodybuilding and weight management.
Mexico whey protein market has been segmented on the basis of
- Hydrolyzed whey protein
- Whey Protein Isolate
- Whey Protein Concentrate
- Infant Formula
- Functional/Fortified Food
- Sports and Performance Nutrition
Key players competing in the Mexico whey protein market include Agropur Msi, LLC, Glanbia PLC, Fonterra Co-operative Group Limited, Ornua Co-operative Limited, and Arla Foods Ingredients Group P/S
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.