Thailand is one of the largest producers and exporters of dairy products among ASEAN countries. Around 40% of the milk produced in Thailand goes to the school milk program, while the rest is used to make milk-based products such as cheese, yogurt, butter, and whey. The whey protein industry in Thailand is growing at a rapid pace. The market was worth around $140.5 million in 2020 and is forecasted to grow at a CAGR of 9.2% to reach $236.4 million by 2026.
The growth opportunity for the whey protein market is a high demand from the health and wellness beverages and food sector. In addition, the demand for whey protein supplements is increasing rapidly because of aggressive marketing strategies by manufacturers. Whey-based dietary supplements are highly popular among bodybuilders, athletes, fitness enthusiasts, and gym-goers. However, protein-based foods and drinks are gaining popularity, giving a boost to the whey protein market. Nevertheless, less consumer awareness and less retail presence remain the market's restraining factor.
Whey application across dietary supplements represents the highest market share, and the market is estimated to be around $61.3 million in 2020. Application in the sports industry, infant formula, and meat products is expected to maintain a steady demand for whey protein during the forecast period. Similarly, the growth of whey application across the food and beverage industry is estimated to grow at a CAGR of 8.7% and 9.1%, respectively, until 2026.
The growth opportunity for the whey protein market is a high demand from the health and wellness beverages and food sector. In addition, the demand for whey protein supplements is increasing rapidly because of aggressive marketing strategies by manufacturers. Whey-based dietary supplements are highly popular among bodybuilders, athletes, fitness enthusiasts, and gym-goers. However, protein-based foods and drinks are gaining popularity, giving a boost to the whey protein market. Nevertheless, less consumer awareness and less retail presence remain the market's restraining factor.
Whey application across dietary supplements represents the highest market share, and the market is estimated to be around $61.3 million in 2020. Application in the sports industry, infant formula, and meat products is expected to maintain a steady demand for whey protein during the forecast period. Similarly, the growth of whey application across the food and beverage industry is estimated to grow at a CAGR of 8.7% and 9.1%, respectively, until 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.
