The Brazil Whey Protein market is expected to be ~$900 Mn in the forecasted period of 2022- 2028. The primary growth drivers of the market are rising health and fitness awareness, health benefits, an increasing number of fitness centers, increasing influence of e-commerce platforms, changing lifestyles, and sports nutrition.
STORY OUTLINE
- During covid-19, the e-commerce market for whey protein increased by 35% during the pandemic years.
- In Brazil there are 3400 points of sports nutrition centers used for the distribution of whey protein products in the country.
- In 2022 it was found that around 22% of the Brazilian population has attained gym membership and 19% are seeking fitness advice through online services.
According to Ken Research, In the last few years, the Brazilian sports nutrition market has been evolving with varieties of protein-based products leading in the sports nutrition category. As a result, the Brazilian whey protein market is growing significantly. One of the leading factors in the growth of whey protein in the market is the increasing health industry in the country. Currently, Brazil has a second position in the health club industry worldwide. In 2022, the country had ~36000 fitness centers because of that sports nutrition products in the industry increased by 9% on average a year.
1. Impact of Covid-19 on Brazil's Whey Protein market
- The Brazil whey protein market witnessed a drop of ~36% during the global pandemic in 2020. However, post-pandemic showed healthy growth covering the loss that occurred during the pandemic.
- Lockdowns and temporary closures of fitness institutes, gyms, and training academics declined the growth of sports nutrition products by 25%. Ultimately leading fall in the consumption of protein products.
- The e-commerce market of whey protein products gained traction during covid-19. The e-commerce market for whey protein increased by 35% during the pandemic years.
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2. Current Scenario of Brazil's Whey Protein Market
- The Brazil whey protein market enhanced by ~40% post-pandemic in the year 2022. This was the highest jump that the whey protein market witnessed ever, reopening of fitness clubs, gyms, and high consumption of sports nutrition were some of the major reasons behind this significant jump in the market.
- The market has a huge number of specialized stores and body shops that help the distributors to sell the whey protein products market in the country. In 2022, there are ~3400 points of sports nutrition centers in the country.
- Whey protein business in Brazil continues to grow and the market is projected to grow at a CAGR of 8% between 2022-2028 owing to different factors influencing the market.
- In Brazil, whey protein has such a significant impact that the market grows by 4% per year. The market is expanding by 30% through natural channels and by about 60% through traditional channels year over year.
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3. Growth Drivers of the US Powered Surgical Instrument Market
- The Brazil whey protein market is driven by rising health and fitness awareness, health benefits, an increasing number of fitness centers, increasing influence of e-commerce platforms, changing lifestyles, and sports nutrition.
- Rising health and fitness awareness among the commoners in Brazil is one of the primary growth drivers of this market. In 2022 it was found that around 22% of the Brazilian population has attained gym membership and 19% are seeking fitness advice through online services.
- The expansion of the whey protein market in Brazil has been greatly aided by the rise in the number of fitness centers and health clubs. The nation has 31,000 health clubs, which is the second-highest number in the entire world.
- Changing lifestyle is another major factor behind the growth of the whey protein market in the country. Around 52% of men and 44% of women in Brazil are overweight, this is one of the highest obesity rates in South America.
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4. Major Players in the Brazil whey protein market
- Brazil's whey protein market is extremely crowded with top domestic and foreign competitors. Some of the prominent companies in the Brazilian whey protein market include Arla Foods Ingredients, Carbery Group, Fonterra Co-Operative Group, Hilmar Ingredients, Friesland Campina, Agropur MSI LLC, Lactalis, and Leprino Foods.
- One of the biggest producers of whey protein in Brazil, Arla Foods Ingredients, has declared that its products are 100% whey-based and that it intends to offer protein products with a variety of tastes in the future. Protein beverages will be produced by the company using lactose-free ingredients.
- Leprino Foods acquired majority stakes in Lactojara, a Brazilian dairy manufacturer that produces crucial ingredients used in whey protein products. This increased the manufacturing capacity of Leprino Foods in the whey protein market.
Conclusion
Brazil's Whey Protein market has illustrated exceptional strength and development, overcoming the difficulties caused by COVID-19 widespread. Driven by raising health and fitness awareness, the market surged by roughly 40% in 2022 post-pandemic, fueled by the reviving of fitness establishments and heightened utilization of sports nutrition items. The surge in e-commerce amid the widespread, coupled with the country's vast network of specialized sports nutrition centers, played essential parts in supporting this development momentum. The market's extension is further moved by a surge in gym enrollments, advancing lifestyles, and a raising number of fitness centers. With a bunch of domestic and international competitors competing for dominance, the Brazilian Whey Protein market exhibits both advancement and diversity, with key players like Arla Foods Ingredients and Leprino Foods growing their reach and item offerings. As the country proceeds its health-conscious journey, the market's anticipated CAGR of 8% until 2028 means a promising future.
