The market share of the Russian whey protein industry across Europe is relatively low. However, due to the growing demand for whey-based products among the Russian population, the market is forecasted to grow rapidly with a CAGR of 8.1% during 2021-2026. Changing socio-economic dynamics, prevailing fitness trends, and shift in dietary pattern has created a strong demand for protein-rich food products in Russia. The expanding consumer notion of whey protein and rising interest among the food manufacturers and foodservice chains are pushing the demand for the whey protein market. Reducing production costs, maintaining food safety, and developing a value chain are the industry's major concerns. The high cost of the final product, less consumer awareness, and visibility on retail space are hindrances in the growth of the market.
In 2019, sales of sports nutrition products in Russia reached $70 million. Of all the protein available in Russia, protein powder dominates the market, which accounts for 81%, followed by protein bars (10%). In value terms, in 2020, the whey import was $50 million. This shows that the whey protein market has an immense opportunity to grow further both in terms of production as well as in consumption.
Increasing usage of whey protein in the dietary supplement industry due to strengthening economic conditions and interest in vegetarian lifestyle makes it the most dominant sector for whey-based products. The usage of whey protein in the beverage industry is also expected to grow at a healthy rate during the forecast period. Various products have been introduced in the market in recent years to suit the diet of athletes and bodybuilders. Nutrition bar made up of whey protein is a famous product in Russia and is also available in various tantalizing flavors like Banana, Chocolate, Vanilla, and Strawberry. Whey protein application across the food industry is expected to grow at a CAGR of 7.9% till 2026.
In 2019, sales of sports nutrition products in Russia reached $70 million. Of all the protein available in Russia, protein powder dominates the market, which accounts for 81%, followed by protein bars (10%). In value terms, in 2020, the whey import was $50 million. This shows that the whey protein market has an immense opportunity to grow further both in terms of production as well as in consumption.
Increasing usage of whey protein in the dietary supplement industry due to strengthening economic conditions and interest in vegetarian lifestyle makes it the most dominant sector for whey-based products. The usage of whey protein in the beverage industry is also expected to grow at a healthy rate during the forecast period. Various products have been introduced in the market in recent years to suit the diet of athletes and bodybuilders. Nutrition bar made up of whey protein is a famous product in Russia and is also available in various tantalizing flavors like Banana, Chocolate, Vanilla, and Strawberry. Whey protein application across the food industry is expected to grow at a CAGR of 7.9% till 2026.
Key Deliverables
- 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
Table of Contents
1. Introduction
2. Summary
3. Industry Dynamics
4. Market Size and Forecast
5. Competitive Analysis
6. Company Profiles
Appendix
Companies Mentioned
- Agropur MSI, LLC
- Arla Foods
- Carbery Group
- Champignon-Hofmeister Group
- DMK group
- FriesiandCampina Ingredients
- Glanbia Plc
- Hilmar Cheese Company Inc
- Lactalis Ingredients
- Land O'Lakes Inc
- Leprino Foods Co
- Milk Specialties Global
- Meggle Group
- Saputo Ingredients
- Fonterra Co-operative Group
- Volac.
