Once regarded as the low byproduct of cheese making, whey was often dumped down drains or spread on farm fields. But times have changed and whey has since made huge strides. In 2021, whey was reported to have reached a value of nearly $5 billion in the global market.
Due to the growing health awareness among consumers, fueled by the pandemic, people are now putting a sharp focus towards health and nutrition, says Tanner Ehmke, the lead dairy economist with CoBank.
With the rising global population and changing dietary habits of people, the food industry is experiencing robust growth, which in turn, is catalyzing the growth of the whey protein market.
Unlike other dairy products, the shelf life of whey protein is comparatively higher, as it can last for months while retaining its original properties. Whey protein is also generally available in a powdered state, making it easy to transport.
The demand for whey protein concentrate has been growing over the last 25 years with export demand being the main catalyst. According to Ehmke, whey prices are anticipated to continue until new cheese and whey processing capacity comes online over the next five years.
“This especially holds true in Asia, as protein is now central to consumers’ focus on healthy,” Ehmke says. “The U.S. stands to benefit from this continued global demand growth.”
Following suite, U.S. cheese production capacity is expected to expand by an estimated 10% over the next five years. Although Ehmke shares that processors will need to invest in state-of-the-art technologies to meet the growing and diverse needs of global whey consumers of the future.
Plant-based alternative sources of protein like soy protein and pea protein are not expected to disrupt the high protein whey market due to nutritional deficiencies compared to whey derived from dairy products.
The growth whey protein has recently seen shows that the product once known as waste, is now a global go-to product sensation.
