Overview and Scope
Condensed whey is defined as a dense fluid that is remained after milk has been strained and coagulated. Whey is one of the main existing storages of food protein as it contains immunoglobulins, ß-lacto globulin, serum albumin, protease-peptones, and a-lactalbumin. It is also the resulting food ingredient from the manufacturing of cheese when protein and butterfat are removed from the milk.
Sizing and Forecast
The condensed whey market size has grown strongly in recent years. It will grow from $3.05 billion in 2023 to $3.35 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increasing demand for dairy-based products, industrialization of dairy production, health and wellness trends, food waste reduction, regulatory support: gtion
.The condensed whey market size is expected to see strong growth in the next few years. It will grow to $4.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to global population growth, health-conscious consumers, sustainability concerns, e-commerce growth, research and development, international trade agreements, consumer education. Major trends in the forecast period include plant-based and dairy-free alternatives,clean label products, functional ingredients, flavored varieties, online retail and d2c sales.
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Segmentation & Regional Insights
The condensed whey market covered in this report is segmented –
1) By Product: Plain Condensed Whey, Sweetened Condensed Whey, Condensed Acid Whey
2) By Application: Food and Beverage, Bakery Products, Confectionery, Sauces, Soups, and Dressings, Jams and Jellies, Meat Products, Animal Nutrition and Feed
North America was the largest region in the condensed whey market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the condensed whey market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growth in the bakery and confectionery industry is expected to propel the growth of the condensed whey market. Condensed whey is used in dairy products, bread, and other bakery products by providing better structure, porosity, freshness retention, and taste of the final product while improving the nutritive value. For instance, in May 2023, according to Canada.ca, a Canada-based government website, in the United States, from 2022 to 2026, baked goods retail sales expanded at of 2.2%, reaching US$75.8 billion. Therefore, the growth in the bakery and confectionary industry is driving the condensed whey market growth.
Key Industry Players
Major companies operating in the condensed whey market include Agri-Mark Inc., Berkshire Dairy and Food Products LLC., Chicago Dairy Corporation, Dairy Farmers of America, Foremost Farms USA Cooperative Inc., Associated Milk Producers Inc., Leprino Foods Company Inc., Fonterra Co-operative Group Limited, Saputo Inc., Agropur Dairy Cooperative, Optimum Nutrition Inc., Arla Foods AMBA, Glanbia plc, Lactalis Group, Hilmar Cheese Company Inc., Kerry Group plc, Lacto Japan Co. Ltd., Royal FrieslandCampina NV, Darigold Inc., Schreiber Foods Inc., California Dairies Inc., Land O’Lakes Inc., First District Association, Great Lakes Cheese Co. Inc., Kraft Food Ingredients Corp., Milk Specialties Global Co., Pacific Cheese Co. Inc., Prairie Farms Dairy Inc., Savencia Fromage & Dairy Pvt. Ltd., Swiss Valley Farms Cooperative
The condensed whey market report table of contents includes:
1. Executive Summary
2. Condensed Whey Market Characteristics
3. Condensed Whey Market Trends And Strategies
4. Condensed Whey Market – Macro Economic Scenario
5. Global Condensed Whey Market Size and Growth
….
31. Global Condensed Whey Market Competitive Benchmarking
32. Global Condensed Whey Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Condensed Whey Market
34.Condensed Whey Market Future Outlook and Potential Analysis
35. Appendix
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