Mexico Whey Protein Market is expected to record a CAGR of 7.50% during the forecast period, 2020-2025.
Key Highlights
- Growing consumer awareness about dietary proteins and increasing consumption of dietary supplements are shaping the demand and consumption dynamics of whey protein in the country.
- The increase in consumption of whey protein in functional food, infant formula and clinical nutrition coupled with the presence of leading players of whey protein manufacturers in Mexico is anticipated to play a spirited role in the revenue growth of the region.
Key Market Trends
Growing Demand for Infant Formula is Benifitting the Market
With a major influence from the United States, the Mexican consumers are exploring ways out to stay fit and opt for healthy lifestyles, and are trying to do the same with their young ones. Since whey proteins are the most preferred form of supplement to compensate for the protein deficiencies, the Mexican mothers are opting for infant formulas that provide the right amount of protein required to avoid the stunted growth of their children. Moreover, since the population of Mexico is increasing and the existing is a majority of lactose-consumers, they prefer to choose whey-based infant formulas for babies. Thus, the psychological factor is expected to drive the Mexico whey protein market in the near future.
Functional/Fortified Food Sector Possesses a Good Potential for the Market
The booming functional food and bakery sector spiked the demand for dairy based food and beverages in Mexico with whey protein being the best suitable protein source. With the Eastern world producing Whey protein in plenty, Mexico became one of the major import hubs for the whey protein market. Increasing younger populations with fitness consciousness inflated the demand for whey, as it is a major ingredient in weight management and bodybuilding. Moreover, the incorporation of whey protein in food products like protein bars is being done extensively. Thus, the rise in demand for functional food and beverages factors are expected to drive the Mexico Whey protein market at a rapid pace.
Competitive Landscape
Whey protein market in Mexico is competitive with a dominance of global players who provide the whey ingredients to the large-scale industries in the country. However, the local manufacturers have a grip on the small-scale industries that utilize whey in different forms to be used for diverse applications. Manufacturers are indulging in expansions to cover a larger geographical area, offering whey to more industries. Glanbia PLC, Fonterra Co-operative Group Limited, and Arla Foods Ingredients Group P/S are among the major players of the market.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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