South America Whey Protein Market - Growth, Trends, and Forecast (2019 - 2024)

Market Overview

South America whey protein market is forecasted to reach USD 540 million by 2024, witnessing a CAGR of 7.5% during the forecast period (2019 - 2024).

• South America represents one of the favorable whey protein markets due to a large chunk of younger populations that are employing whey protein extensively in bodybuilding and as dietary supplements.
• Dairy, infant formula and bakery markets have experienced consistent growth in the region. However, increased demand for dairy ingredients/ alternatives and recombined milk was witnessed in the country over the past 5 years.

Scope of the Report

South America whey protein market includes the segmentation of whey protein on the basis of Type under Whey Protein Concentrate, Whey Protein Isolate, and Hydrolyzed Whey Protein. Further segmentation has been done on the basis of Application under Sports and Performance Nutrition, Infant Formula and Functional/Fortified Food.

Key Market Trends

Growing Health and Fitness Clubs

Brazil has sustained its second position in the World health club industry, in terms of a number of fitness centers from the past three years. Determined about fitness and health, high adoption rates of gym culture and pursuit of body beauty have been a leading factor for the industry growth in Brazil. In 2015, 3.5% of the Brazilian population was registered in fitness centers, of which a significant share of centers are occupied with women and people above 60 years. With the growing gym culture, the demand for sports nutrition and protein supplements has gone up. This had a huge impact on sports nutrition. Among the sports nutrition, proteins occupy a major share owing to their health benefits in strengthening and muscle building.

Argentina: Emerging Market

After Brazil, Argentina is observed to be a strong market of the whey protein industry. The dairy, infant formula, and bakery markets have experienced consistent growth in Argentina. However, increased demand for dairy ingredients/ alternatives and recombined milk was witnessed in the country over the past few years. This, aided by the consumer shift toward balanced and healthy diets, resulted in a demand for supplementary/high-quality proteins. Blends of whey hydrolysates and isolates are witnessing increasing popularity among the consumers and are being increasingly used in sports and performance nutrition.

Competitive Landscape

Consumers are increasingly shifting from carbohydrate diets to protein diets, wherein whey is the most common source of protein. Thus, whey manufacturers are coming up with variants applicable to sports nutrition and bodybuilding. Also, there has been significant growth in the infant formula and functional foods segment in the region, leading to product innovation among whey manufacturers. The major players engaged in the distribution of whey protein across the region are


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