Saudi Arabia is free-market economy. Since the last decade, the Government has taken various important initiatives to reduce its economic dependence on oil export and focus more on other sectors. As part of this initiative, the Government has been seriously focusing more on agriculture and has taken various steps to overcome the local dairy product demand by domestically producing milk and its derivatives products. The whey protein market in Saudi Arabia, with estimated market revenue of $67.6 million in 2020. The market is expected to grow at a healthy CAGR of 7.0% till 2026 due to the growing demand for whey protein across the sports, food, and beverage industry.
The major driver of Saudi Arabia’s whey protein market is the increasing demand for whey protein in the dietary supplement industry. Over the last decade, there have been increasing attempts to create awareness about the health benefits of dietary supplements by conducting surveys and advertisements. Push from trainers and physicians for whey-based products is expected to maintain a steady demand for dietary supplements from the sports industry. Other lucrative segments in the market are the sports and infant formula industry. However, heavy preference for non-vegetarian diets for protein sources makes the road for the development of the whey protein industry in the country looks rough.
In terms of the whey protein market by application, the dietary supplement segment leads with an estimated market size of $29.1 million in 2020. Whey protein application across the food and beverage industries is expected to grow steadily. It is estimated that during the forecast period, the market revenue of both food and beverage will reach $27.1 million and 25.4 million with a CAGR of 6.5% and 6.9% respectively. Key players in the market are focused on creating awareness and tapping exports potential.
The major driver of Saudi Arabia’s whey protein market is the increasing demand for whey protein in the dietary supplement industry. Over the last decade, there have been increasing attempts to create awareness about the health benefits of dietary supplements by conducting surveys and advertisements. Push from trainers and physicians for whey-based products is expected to maintain a steady demand for dietary supplements from the sports industry. Other lucrative segments in the market are the sports and infant formula industry. However, heavy preference for non-vegetarian diets for protein sources makes the road for the development of the whey protein industry in the country looks rough.
In terms of the whey protein market by application, the dietary supplement segment leads with an estimated market size of $29.1 million in 2020. Whey protein application across the food and beverage industries is expected to grow steadily. It is estimated that during the forecast period, the market revenue of both food and beverage will reach $27.1 million and 25.4 million with a CAGR of 6.5% and 6.9% respectively. Key players in the market are focused on creating awareness and tapping exports potential.
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.
