Whey Protein Market Analysis: Key Players and Their Market Shares in 2024

Whey protein continues to be one of the most popular and sought-after supplements in the global health and nutrition market. With applications in sports nutrition, weight management, and general health, the demand for high-quality whey protein products has surged in recent years. In 2024, several companies are leading the whey protein market, with Glanbia plc at the forefront. This analysis highlights the market shares of the key players dominating the whey protein industry.

Leading Players in the Whey Protein Market

1. Glanbia plc (18.6%)
   Glanbia plc is the undisputed leader in the global whey protein market, capturing an impressive 18.6% share of the market revenue. Known for its high-quality protein supplements, Glanbia’s brands like Optimum Nutrition and BSN are well-established names in the fitness and wellness sectors. Their comprehensive range of whey protein products continues to set the standard for quality and innovation.

2. Fonterra Co-operative Group (15.3%)
   Fonterra, a major player from New Zealand, holds 15.3% of the market share in 2024. As a cooperative, it is one of the world’s largest exporters of dairy products, including whey protein. Fonterra’s focus on sustainable dairy farming and its premium protein products continues to drive growth in this highly competitive market.

3. Arla Foods (12.1%)
   Arla Foods ranks third, holding 12.1% of the global market share. This multinational dairy cooperative, based in Denmark, offers a wide range of whey protein products that cater to both sports nutrition and general health markets. Arla’s commitment to sustainability and innovation helps solidify its position as a leading supplier of whey protein.

4. Lactalis Group (10.5%)
   With 10.5% of the market share, Lactalis Group remains a major competitor in the whey protein market. Lactalis, a global dairy giant, leverages its extensive distribution network and wide product portfolio to cater to consumers seeking high-quality whey protein, both in the retail and professional sectors.

Other Key Players in the Market

While Glanbia, Fonterra, Arla, and Lactalis lead the market, several other companies are making significant contributions to the whey protein market:

1. Saputo Inc. (7.9%)
   Saputo, a Canadian dairy producer, holds a solid 7.9% market share in the whey protein sector. Saputo’s focus on high-quality dairy products and expanding its global footprint has bolstered its position in the whey protein market.

2. Hilmar Cheese Company Inc. (9.1%)
   Hilmar Cheese, with 9.1% of the market share, is another strong player in the whey protein space. Specializing in dairy protein ingredients, Hilmar’s whey protein products are widely used in sports nutrition and functional foods.

3. FrieslandCampina (6.5%)
   FrieslandCampina, a Dutch multinational dairy cooperative, holds 6.5% of the market share. Known for its broad portfolio of dairy products, FrieslandCampina’s whey protein offerings are utilized in a variety of applications, including nutrition, sports supplements, and baby food.

4. Agropur Inc. (5.1%)
   Agropur, a Canadian dairy cooperative, holds 5.1% of the global whey protein market. With its expertise in dairy processing, Agropur provides high-quality whey protein ingredients for nutritional supplements, food, and beverage products.

5. Actus Nutrition (3.6%)
   Actus Nutrition, a smaller but growing player, commands a 3.6% share of the market. Despite its relatively smaller size, Actus is recognized for producing specialized whey protein products for athletes and health-conscious consumers.

6. Carbery Group (2.7%)
   Carbery Group, with 2.7% of the market share, produces a range of whey protein concentrates and isolates that are popular in the health and wellness industry. Carbery’s focus on sustainable sourcing and product innovation has enabled it to maintain a foothold in this competitive market.

"Others" Category (15.3%)

The "Others" category, which makes up 15.3% of the market share, represents smaller and regional players in the whey protein market. These companies may specialize in niche markets, regional production, or specific protein formulations, contributing to the diversity and competitiveness of the industry.

Future Outlook

The global whey protein market is poised for continued growth, driven by increasing consumer awareness of health and wellness benefits. The market is also expected to see more innovations in terms of product offerings, such as plant-based alternatives and functional whey protein products designed for specific health conditions. With consumers becoming more mindful of product quality, companies are likely to intensify their focus on sustainability, quality sourcing, and clean labeling.

Conclusion

The whey protein market is dominated by a few key players, with Glanbia plc leading the way with a significant 18.6% share in 2024. Fonterra, Arla Foods, and Lactalis Group also play crucial roles, holding substantial shares in the market. Smaller players such as Saputo, Hilmar, and FrieslandCampina continue to make an impact through product innovation and global expansion. With the rise of health-conscious consumers, the future of the whey protein market looks bright, with new trends and demands driving growth across the globe.