CITIC Securities pointed out that since 2023, global whey protein prices have risen sharply, with a cumulative increase of more than 2 times over 2 years, mainly driven by strong demand for sports nutrition, penetration of high-protein functional foods, low sensitivity in infant formula, and demand for new protein intake among GLP-1 diet drug users. However, supply and production capacity cannot be released in the short term, driving up prices. Domestic companies such as dairy ingredients, non-animal protein, and muscle-improving dietary supplements are expected to benefit from this major upward cycle of the whey protein boom.

CITIC Securities pointed out that since 2023, global whey protein prices have risen sharply, with a cumulative increase of more than 2 times over 2 years, mainly driven by strong demand for sports nutrition, penetration of high-protein functional foods, low sensitivity in infant formula, and demand for new protein intake among GLP-1 diet drug users. However, supply and production capacity cannot be released in the short term, driving up prices. Domestic companies such as dairy ingredients, non-animal protein, and muscle-improving dietary supplements are expected to benefit from this major upward cycle of the whey protein boom.