Market Research Report

Latin America Whey Protein Market Research Report: Forecast (2024-2030)

Latin America Whey Protein Market Report - By Product Type (Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI), Whey Protein Hydrolysate (WPH)), By Application (Sports Nut...rition, Food & Beverages, Dietary Supplements, Animal Feed), By Sales Channel (Online Stores, Supermarkets/Hypermarkets, Pharmacies, Specialty Stores) and Others Read more

  • Food & Beverages
  • Apr 2024
  • 144
  • PDF, Excel, PPT

Market Definition

Whey protein is a high-quality protein derived from whey, the liquid portion of milk that separates during cheese production. It is rich in essential amino acids and bioactive compounds, making it a popular dietary supplement for muscle building, weight management, and overall health and fitness.

Market Insights & Analysis: Latin America Whey Protein Market (2024-30):

The Latin America Whey Protein Market size is estimated to grow at a CAGR of around 8.8% during the forecast period, i.e., 2024-30. The old-age population has grown in Latin America and has accelerated the Latin America Whey Protein Market. For instance, as per the World Bank, there were 34,213,156 females aged 65 and over in Latin America and the Caribbean in 2022, up from 31,039,972 in 2019. Similarly, in 2022, there were 26,393,046 males aged 65 and over, an increase from 24,338,446 in 2019 in Latin America and the Caribbean. Also, according to the United Nations in Latin America and the Caribbean, the proportion of people aged 60 years and over will reach 16.5% of the total population by 2030, up from 13.4% in 2022. The percentage will increase to 25.1% of the total population by 2050.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 8.8%
Country Covered Brazil, Mexico, Argentina, Chile, Colombia, Rest of Latin America
Key Companies Profiled Arla Foods Ingredients Group P/S, Glanbia PLC, Carbery Group, LACTALIS Ingredients, Agropur Cooperative, BellRing Brands, Inc. (Dymatize Enterprises, LLC), FrieslandCampina, Max Titanium, Integralmedica, 3VS Nutrition, and others 
Unit Denominations USD Million

 

The aging process increases the risk for sarcopenia, age-related progressive loss of muscle mass and strength, and other associated health problems. Hence, the demand for whey proteins has grown with an increase in the elderly population. This demand for whey protein arises from the desire among elderly individuals to enhance their quality of life by addressing these challenges associated with aging, such as maintaining muscle mass and health. With that, the Latin America Whey Protein Market has witnessed growth & expansion.


Latin America Whey Protein Market Research Report: Forecast (2024-2030)

Further, the presence of a large number of overweight and obese individuals in the region has accelerated the demand for whey protein products. For instance, according to the Pan American Health Organization (PAHO), in 2022, the prevalence of overweight in children and adolescents was 33.6% in the Latin America region, higher than the world average. Obesity and overweight pose a threat to health and can lead to the development of various diseases, such as cardiovascular diseases (CVDs), diabetes, indigestion, and others. Whey protein aids weight management by increasing satiety, preserving lean muscle mass, and enhancing metabolic rate. This helps them maintain their health and reduces the risk of disease. As a result, individuals in Latin America have started incorporating whey protein into a balanced diet and exercise regimen for effective weight loss and maintenance. With that, the Latin America Whey Protein Market has witnessed growth. All the factors mentioned above are expected to advance the growth & expansion of the Latin America Whey Protein Market during the forecast period as well.

Latin America Whey Protein Market Driver:

Rising Fitness Trends & Increasing Health Consciousness – People in Latin America have started incorporating protein supplements into their diets to achieve fitness goals and overall health and well-being. This has caused increased demand for whey proteins in the region and has accelerated the overall Latin America Whey Protein Market. The market growth is further supported by the extensive presence of gyms and fitness centers across the region, where gym trainers often recommend people incorporate protein products into their diet alongside regular workouts to enhance performance. Consequently, the demand for whey protein products has increased across various Latin American countries, such as Mexico, Brazil, etc., and has accelerated the growth & development of the Whey Protein Industry in Latin America.

Also, the increased smartphone penetration has led more individuals in Latin American countries who are willing to stay healthy to access digital health and wellness apps that provide them with calorie tracking and advice on nutrition and fitness. These apps often design nutrition plans for individuals, which also involve giving suggestions to include protein in their diet for optimal health and longevity. As a result, the consumption of whey protein products has surged in the region and has propelled the overall Latin America Whey Protein Market.  

Latin America Whey Protein Market Opportunity:  

Expansion of Distribution Channels to Open New Doors for Market Growth – There is an expansion of various distribution channels, including online stores, supermarkets, gyms, etc., in the Latin America region. For instance, in 2023, SPAR announced the brand’s entry into Latin America with the opening of its first store in Paraguay. Also, in 2023, Grupo Mateus opened 14 retail stores, which include supermarkets and hypermarkets, in Brazil. The expansion offers companies an opportunity for increased market penetration and accessibility. Through the diversification of distribution channels into online platforms, supermarkets, specialty health stores, gyms, and even pharmacies, whey protein developing companies could reach a broader consumer base. They could target consumers across diverse geographical locations and demographics.

The expansion of distribution channels not only creates convenience for customers but also boosts brand visibility and awareness, driving sales and revenue growth. Also, through a multi-channel approach, the companies would be able to cater to evolving Latin American consumer preferences and shopping behaviors. Ultimately, it would increase the demand for whey proteins and drive the overall Latin America Whey Protein Market.

Latin America Whey Protein Market Challenge:

Concerns Regarding Sustainability, Environmental Impact, and Animal Welfare to Impede Market Growth – Over the years, the preference for plant-based proteins due to the growing cultural emphasis on natural ingredients has increased in various Latin American countries. Also, due to other factors such as concerns regarding sustainability, environmental impact, and animal welfare, the popularity of plant-based proteins as an alternative to animal-based whey proteins has increased significantly in the region. The search for new alternatives for animal-based proteins is further evident by the results of the Brazilian Consumer and Plant-Based Market Survey 2022, which was carried out by the Good Food Institute Brazil (GFI Brazil). GFI reported that 67% of survey respondents mentioned reducing their consumption of animal-derived ingredients over the past year.

Also, the growing investments and programs that are directed towards the search for plant-based proteins have increased in the region. For instance, in 2021, the Good Food Institute (GFI) initiated a program that aims to explore Brazil’s vast biodiversity in search of alternative plant proteins. As a consequence, the demand for animal-based whey proteins has seen a decline in the region and has negatively impacted the Latin America Whey Protein Market.

Latin America Whey Protein Market Trend:

The Consumers’ Shift to Naturally Sourced & Organic Whey Protein Products – In recent years, consumers in Latin America have become more concerned about the environmental effects of various food products. They have become sensitive to information about products, processing, and brands that might impact the environment. As a result, this heightened awareness of the environment has increased the preference for naturally sourced or organic whey protein products in the region. Following Latin American consumers’ desire to buy organic whey protein products, companies such as Hardbody Nutrition, Natural Force, etc., have begun making their organic whey protein products available in the region.

Moreover, effective campaigns create awareness about the environment and organic food. Due to these effective campaigns, consumers in Latin America are eager to spend more on green products such as organic whey proteins. Furthermore, in Latin America, people’s living standards have significantly improved in the past few decades. With that, the demand for better lifestyles and foods has also increased, contributing to the growing demand for organic whey protein products. Hence, considering the aforementioned factors, the Latin America Whey Protein Market would continue to witness prosperity during the forecasting years.

Latin America Whey Protein Market (2024-30): Segmentation Analysis

The Latin America Whey Protein Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the regional level. According to the analysis, the market has been further classified as:

Based on Product Type

  • Whey Protein Concentrate (WPC)
  • Whey Protein Isolate (WPI)
  • Whey Protein Hydrolysate (WPH)

Out of them all, the Whey Protein Concentrate (WPC) segment held a major market share. The market growth has been attributed to rapid urbanization and lifestyle changes that have heightened health awareness and participation in sports and other physical activities. As a result, more individuals have started consuming whey protein concentrates in the region. Also, the prevalence of obesity, the growing elderly population, and the surge in the number of malnourished individuals in the region have contributed significantly to the increased demand for whey protein concentrates (WPC).

Further, the various benefits, such as improvements in lean mass and strength, lower blood pressure, prevention of diabetes, etc., offered by whey protein concentrates have increased their preference among bodybuilders, athletes, and others. Additionally, the fact that whey protein concentrates (WPC) are cheaper than other available product types has led to increased demand among individuals who want additional protein in their diet. Hence, considering the aforementioned factors, the whey protein concentrate segment in Latin America Whey Protein Market would continue to witness prosperity in the coming years.

Based on the Application

  • Sports Nutrition
  • Food & Beverages
  • Dietary Supplements
  • Animal Feed

Amongst all, the sports nutrition segment is expected to acquire a larger market share in the coming years. The market growth has been attributed to the fact that people in Latin America are heavily involved in sports such as football, volleyball, basketball, etc. These people, athletes, sportspersons, bodybuilders, etc. consume large quantities of protein, including whey, to gain muscle mass and strength, which helps them showcase better performance during tournaments. Following that, the demand for whey protein products has witnessed an increase, which has accelerated segmental market growth.

The market's growth is further supported by the increasing disposable income that allows individuals to purchase premium whey proteins. Moreover, the hosting of national or international sports events such as the Copa América, Pan American Games, etc., along with sponsorships of athletes and fitness influencers in the Latin America region, has also contributed to the promotion and consumption of whey protein products, driving segmental market growth.

Latin America Whey Protein Market (2024-30): Regional Projections

Geographically, the Latin America Whey Protein Market expands across:

  • Mexico
  • Brazil
  • Argentina
  • Colombia
  • Chile
  • Rest of Latin America

Mexico accounts for the largest share of the Latin America Whey Protein Market. The dominance has been attributed to the increasing old-age population in Mexico. For instance, as per the World Bank, there were around 5,847,046 females aged 65 and over in 2022 in Mexico, up from 5,333,106 in 2019. With increasing age, the risk for sarcopenia, diabetes, cardiovascular diseases, etc. increases due to factors such as decreased physical activity, changes in metabolism, and other age-related health issues. As a result, there is a greater demand for whey protein products among the elderly population to manage their health effectively. With that, the Latin America Whey Protein Market has witnessed prosperity.

The presence of a large number of obese and overweight individuals in the region has further accelerated the growth of the Mexico Whey Protein Market. For instance, as per the World Obesity Federation, about 36.9% and 38.3% of adults were obese and overweight, respectively, in Mexico in 2022. With growing awareness of the ill effects of obesity on health, there has been increased adoption of whey protein products for weight management and a healthy lifestyle in the country. As a result, the Mexico Whey Protein Market has witnessed growth.

Additionally, growing participation in sports and other physical activities, a rise in cases of malnourishment, increasing disposable income, etc. have accelerated Mexico’s Whey Protein Market. Hence, considering the aforementioned factors, the Mexico Whey Protein Market is expected to witness growth in the coming years as well.

Latin America Whey Protein Market Industry Recent Development:

  • 2023: Arla Foods Ingredients announced that the company is boosting its production capacity of whey permeate powder in Argentina to meet the rising demand across Latin America.
  • 2023: 3VS Nutrition launched a cost-effective whey protein powder in Brazil.

Gain a Competitive Edge with Our Latin America Whey Protein Market Report

  1. The Latin America Whey Protein Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. The Latin America Whey Protein Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Latin America Whey Protein Market is expected to grow at a CAGR of around 8.8% during 2024-2030.

   A. The rising fitness trends & increasing health consciousness are the prominent factors expected to drive the Latin America Whey Protein Market during 2024-2030.

   A. Arla Foods Ingredients Group P/S, Glanbia PLC, Carbery Group, LACTALIS Ingredients, Agropur Cooperative, BellRing Brands, Inc. (Dymatize Enterprises, LLC), FrieslandCampina, Max Titanium, Integralmedica, 3VS Nutrition, and others are the top companies in the Latin America Whey Protein Market.

   A. Whey Protein Concentrates (WPC) are the leading product type in the Latin America Whey Protein Market.

   A. The consumers’ shift to naturally sourced & organic whey protein products is the key trend shaping the growth of the Latin America Whey Protein Market.

   A. The expansion of distribution channels is one of the growth opportunities driving the Latin America Whey Protein Market through 2030.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumption
  3. Executive Summary
  4. Latin America Whey Protein Market Trends & Insights
  5. Latin America Whey Protein Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. Latin America Whey Protein Market Hotspot & Opportunities
  7. Latin America Whey Protein Market Supply Chain Analysis
  8. Latin America Whey Protein Market Regulation & Policy
  9. Latin America Whey Protein Market Outlook, 2019- 2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Type
        1. Whey Protein Concentrate (WPC)- Market Size & Forecast 2019-2030, USD Million
        2. Whey Protein Isolate (WPI)- Market Size & Forecast 2019-2030, USD Million
        3. Whey Protein Hydrolysate (WPH)- Market Size & Forecast 2019-2030, USD Million
      2. By Application
        1. Sports Nutrition- Market Size & Forecast 2019-2030, USD Million
        2. Food & Beverages- Market Size & Forecast 2019-2030, USD Million
        3. Dietary Supplements- Market Size & Forecast 2019-2030, USD Million
        4. Animal Feed- Market Size & Forecast 2019-2030, USD Million
      3. By Sales Channel
        1. Online Stores- Market Size & Forecast 2019-2030, USD Million
        2. Supermarkets/Hypermarkets- Market Size & Forecast 2019-2030, USD Million
        3. Pharmacies- Market Size & Forecast 2019-2030, USD Million
        4. Specialty Stores- Market Size & Forecast 2019-2030, USD Million
      4. By Country
        1. Mexico
        2. Brazil
        3. Argentina
        4. Columbia
        5. Chile
        6. Rest of Latin America
      5. By Company
        1. Competition Characteristics
        2. Revenue Shares
  10. Mexico Whey Protein Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Type- Market Size & Forecast 2019-2030, USD Million
      2. By Application- Market Size & Forecast 2019-2030, USD Million
      3. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
  11. Brazil Whey Protein Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Type- Market Size & Forecast 2019-2030, USD Million
      2. By Application- Market Size & Forecast 2019-2030, USD Million
      3. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
  12. Argentina Protein Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Type- Market Size & Forecast 2019-2030, USD Million
      2. By Application- Market Size & Forecast 2019-2030, USD Million
      3. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
  13. Colombia Whey Protein Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Type- Market Size & Forecast 2019-2030, USD Million
      2. By Application- Market Size & Forecast 2019-2030, USD Million
      3. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
  14. Chile Whey Protein Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Type- Market Size & Forecast 2019-2030, USD Million
      2. By Application- Market Size & Forecast 2019-2030, USD Million
      3. By Distribution Channel- Market Size & Forecast 2019-2030, USD Million
  15. Latin America Whey Protein Market Key Strategic Imperatives for Success & Growth
  16. Competitive Outlook
    1. Company Profiles
      1. Arla Foods Ingredients Group P/S
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Glanbia PLC
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Carbery Group
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. LACTALIS Ingredients
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Agropur Cooperative
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. BellRing Brands, Inc. (Dymatize Enterprises, LLC)
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. FrieslandCampina
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Max Titanium
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Integralmedica
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. 3VS Nutrition
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others
  17. Disclaimer


Latin America Whey Protein Market