The incessantly increasing young population in India in conjunction with the growing trend for fitness activities among them is perceived to be the eminent factor creating demand influx in the whey protein ingredients market in India. According to the latest report by “International Health, Racquet and Sportsclub Association (IHRSA),” the health and fitness industry in India generates $821 million in annual revenue from 3,813 clubs. These findings are an attenuated representation of the ubiquity of the fitness industry growth that has taken place in India. With the rising health awareness among the younger population of this region, there is increasing popularity for sports and fitness activities such as yoga, aerobics, jogging, soccer, cricket, and many more. The depletion of energy and loss of electrolytes and carbohydrates is a common phenomenon during these physical activities. Thus the person engaged in these activates routinely advised to consume food products that provide instant nutritional and energy boost. This, in turn, is creating an unprecedented endorsement for whey protein ingredients as they are rich in protein content and have high nutritional value. Whey proteins are used as protein supplements, electrolyte supplements, gym supplements, and fitness supplements and are consumed by bodybuilders, athletes, and fitness enthusiasts. Moreover, these ingredients are utilized for improving the lipid profile glucose levels and insulin response, thereby promoting arterial stiffness and reduction in blood pressure. Therefore, the Indian whey protein ingredients market is expected to witness significant growth on account of the growing fitness and sports industry amidst the presence of a high consumer base.
The India Whey Protein Ingredients Market is evaluated at $860 million as of 2018. Moreover, the demand for the products is projected to prosper at a notable CAGR of 37.6% during the forecast period 2019-2025.
Increasing Purchasing Power and the Consequent Trend for Healthy Food Products Driving the India Whey Protein Ingredients Market—
The growing purchasing power among the consumers of India is consequently encouraging them to spend more on health food products. The increasing power of purchasing in the country can be easily fathomed from the statistics by “Invest India,” according to which the GDP per capita in India was $1963 in 2017, value increased by 5.5% from 2016. The increasing disposable income is instigating the Indians to inculcate health food habits such as consumption protein-rich food products. Consequently, whey protein ingredients, which offer multiple benefits such as exercise recovery, weight management, healthy aging, and overall health and wellness, are gaining attention.
Moreover, whey proteins are provided helpful in the treatment of cancer, asthma, blood pressure and cardiovascular diseases, and reducing weight loss in people with HIV. Furthermore, these proteins provide ingredients such as leucine, glutathione, and conjugated linoleic acid apart from essential amino acids. Thus the health benefits associated with the protein ingredients are propelling the growth of India whey protein ingredients market.
India Whey Protein Ingredients Market Leveraging Flourishing Food and Beverage Industry—
The perpetually booming food and beverage industry in India is significantly contributing to the growth of the whey protein ingredients market. On account of increasing health-conscious Indian population along with growing purchasing power, there is a rise in demand for baked products, low-fat foods, and dairy products including yogurt, milk sausages, spicy sauces, spreads, cold cuts, and margarines. The increasing demand for the aforementioned food products has instigated the food manufacturers to use special ingredients such as whey protein ingredients as food additives to impart functional and nutritional value to food. Whey protein ingredients improve texture, enhance flavor, emulsify and stabilize, improve flow properties in dry mixes, and help extend shelf-life and thereby increase the food product quality.
Furthermore, these ingredients increase the nutritional value of chocolate protein powder, protein smoothies, protein bars, sauces, dips, and more. Thus the propelling food and beverage industry, which can be fathomed from the statistics by Invest India, according to which the food processing market is expected to grow to $543 billion by 2020 from $322 billion in 2016, at a CAGR of 14.6%. Thus, the growing food and beverage industry coupled with the increasing adoption of whey proteins is propitiously fuelling the growth of whey protein ingredients market in India.
Demand for Whey Protein Isolates Creating Maximum Revenues for the India Whey Protein Ingredients Market—
Based on type, the whey protein ingredients market is segmented into whey protein concentrate, whey protein isolate, whey protein hydrolysates, xanthan gum, xylitol, milk proteins, and others. Among these, the protein isolates segment is considered to be the prominent revenue driver to the market. This is mainly attributed to multi-functionalities associated with the whey protein isolates such as easily digestible, efficient processing, and economic applications. Moreover, the protein isolates have lower fat and lactose content, and higher protein percentage. Additionally, the isolate protein supplement intake, pre and post workouts, increases muscle mass, reduces tissue damage, and enhances performance. Therefore, the key application segment is poised to propel at a remarkable CAGR of 36.1% through to 2025.
India Whey Protein Ingredients Market Company’s Strategies—
Major companies in the India whey protein ingredients market that are striving to build their brand name in the market are Omega Protein, Fonterra Co-Operative Group Limited, Saputo Ingredients, Warrnambool Cheese & Butter Factory, Agropur MSI, LLC, Meggle Group, Grande Custom Ingredients, American Dairy Products Institute, Westland Milk Products, Erie Foods International, Inc., Cargill Incorporated, Arla Foods, Leprino Foods Co., and Danone SA. These companies are continuously implementing strategic plans such as acquisitions, mergers, collaborations, new product launches, and partnerships to stay ahead of their competitors and moreover to cater to the increasing supply-demand gap.
· In November 2017, Fonterra Co-operative Group has acquired a 10 % share of the dairy producer, AB Rokiskio Suris. This acquisition is intended to secure a supply chain of high-value whey ingredients while opening up product options across the globe.
· In February 2019, Saputo Inc. has announced its agreement to acquire Dairy Crest Group P.L.C. this transition will allow it to expands its international presence and thereby meet the global demand for whey protein ingredients. Moreover, the company acquired Murray Goulburn on May 1, 2018, Shepherd Gourmet Dairy on June 19, 2018, and F&A Dairy Products, Inc., on November 30, 2018. These acquisitions are carried out to maintain consistent product supply and thereby increase the revenue output of the company.
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