The whey protein market revenue has increased by 16% in the last five years. The whey protein market was worth $157.9 million in 2020 and is expected to reach $217.2 million with a CAGR of 6.0% by 2026.
South Africa is one of the strong nations among African countries in economic strength. It also has the largest milk production per cow in Africa. In the country, many dairy farms have more than 500 cows and use a TMR feeding system which increases the milk yields. The dairy industry in South Africa consists of many economic activities that involve production, transport, and marketing of raw milk.
The majority of milk produced in South Africa goes for industrial dairy product production such as yogurt, cheese, milk powder, and whey. The south African whey protein industry is much more developed than the countries in other African regions. This helps the country enjoy the benefit of exporting whey protein in the entire African regions. There is a growing demand for whey protein in South Africa due to the combined effect of global trend and growing health concerns among the population.
The growing demand for whey protein in South Africa is majorly driven by young generations of the country. More and more youngsters are inspired to hit the gym due to the growing health consciousness and fitness trend. This has also resulted in increased consumption of dietary supplements due to the recommendations from personal gym trainers.
Because of the proven benefits of whey protein for athletes and bodybuilders, sports nutrition companies are developing products with increasing whey content. As per the consumer requirements for more dietary proteins, increasing producers are adding whey protein in food products, especially ready-to-eat products.
However, the high production cost of dairy products due to increased labor costs in recent years combined with fluctuating milk prices and costly production processes will be major restraints to the South African whey protein market.
Whey protein application in South Africa is highest in the dietary supplement industry because there is huge demand among South African athletes and bodybuilders to consume supplements, especially after intense exercise in the gym. Due to the high demand for whey protein, this market revenue will continue to grow at a CAGR of 6.3% to achieve the value of $97.1 million by 2026.
Similarly, whey protein application across the food and beverage industry is also growing. The food and beverage manufacturers in South Africa are observing a good opportunity to add whey protein in various products. The market revenue of whey protein application across the food and beverage industry is expected to grow at a CAGR of 5.7% and 6.0%, respectively.
Market trends since 2017 and five-year forecasts of market growth
Detailed analysis of the micro and macro elements influencing demand trends
Identifying opportunity spaces across segments
Supply & demand side trend and analysis
Price trend analysis, investment prospects, and competition pattern
Insights on the growth potential of the market
Detailed analysis of major producers covering financial investments & strategies adopted
Competitive landscape of the industry
Agropur MSI, LLC
Hilmar Cheese Company Inc
Land O'Lakes Inc
Leprino Foods Co
Milk Specialties Global
Fonterra Co-operative Group
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