The reduced lactose whey global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Reduced Lactose Whey Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The reduced lactose whey market size has grown rapidly in recent years. It will grow from $12.92 billion in 2023 to $14.33 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to growing awareness of lactose intolerance, rising prevalence of lactose intolerance, increased availability of reduced lactose, government regulations mandating lactose labeling, expansion of the dairy industry.
The reduced lactose whey market size is expected to see grown rapidly in the next few years. It will grow to $21.77 billion in 2028 at a compound annual growth rate (CAGR) of 11%. The growth in the forecast period can be attributed to increasing prevalence of lactose intolerance, expansion of the sports nutrition and functional foods markets, rising adoption of specialized diets, surge in research and development activities, growth of the infant formula market. Major trends in the forecast period include rising demand for reduced lactose whey products, expansion of functional foods, innovation in sports nutrition, diversification of product offerings, expansion of distribution channels.
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Scope Of Reduced Lactose Whey Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Reduced Lactose Whey Market Overview
Market Drivers –
The growing popularity of plant-based diets is expected to propel the growth of the reduced-lactose whey market going forward. A plant-based diet typically refers to a dietary pattern that emphasizes foods derived from plants, such as fruits, vegetables, grains, nuts, seeds, and legumes, while minimizing or excluding animal products. The increasing popularity of plant-based diets is growing due to awareness of environmental sustainability, health benefits, and ethical considerations regarding animal welfare. Reduced lactose whey is incorporated into plant-based diets as a source of high-quality protein, providing a dairy-free option for individuals seeking to supplement their plant-based eating with additional protein while minimizing lactose intake. For instance, in January 2023, according to the Plant Based Foods Association (PBFA), a US-based trade association representing the interests of plant-based food companies, plant-based foods saw a sales growth of 6.6% in 2022, marking an increase from 5.9% in 2021. Moreover, plant-based creamer, the third-largest category after milk and meat, saw a 24% rise in revenue and a 12% increase in sales volume. Therefore, the growing popularity of plant-based diets is driving the growth of the reduced-lactose whey market.
Market Trends –
Major companies operating in the reduced lactose whey market are focusing on expanding their product portfolio by adding innovative products such as animal-free whey protein to cater to the growing demand from vegan and plant-based consumers. Animal-free whey protein is derived from whey protein without using animals. It’s produced using precision fermentation, where microbes such as fungi are genetically engineered to produce whey proteins in bioreactors. For instance, in June 2022, Strive Nutrition, a US-based sustainable nutrition company, launched a line of milk alternatives enriched with animal-free whey protein, aiming to replicate the taste and nutrition of cow’s milk without the associated health and environmental downsides. Strive FREEMILK, an animal-free whey protein, guarantees freedom from lactose, hormones, antibiotics, and cholesterol. It provides 25% more protein, 75% less sugar, and reduced saturated fat compared to traditional whole cow’s milk.
The reduced lactose whey market covered in this report is segmented –
1) By Type: Organic Reduced Lactose Whey, Conventional Reduced Lactose Whey
2) By Extraction: Extraction By Precipitation, Extraction By Filtration, Extraction By Dialysis
3) By End User: Food And Beverages, Nutraceuticals, Household And Retail Use
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Regional Insights –
Europe was the largest region in the reduced lactose whey market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the reduced lactose whey market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the reduced lactose whey market report are Fonterra Inc.; Land O’Lakes Inc.; Tetra Pak International SA; Dana Foods Inc.; Agropur Inc.; Glanbia plc; Leprino Foods Company; Organic Valley; Hilmar Cheese Company Inc.; Carbery Group; Volac International Limited; Westland Co-operative Dairy Company Limited ; Graham Chemical Corporation; Davisco Foods International Inc.; Interfood Inc.; Redwood Hill Farm; MCT Dairies Inc. ; Idaho Milk Products Inc.; Wapsie Valley Creamery Inc.; Erie Foods International Inc.; Grande Cheese Company; AMCO Proteins Company; Wheyco GmbH; Agri Dairy Products Inc.
Table of Contents
1. Executive Summary
2. Reduced Lactose Whey Market Report Structure
3. Reduced Lactose Whey Market Trends And Strategies
4. Reduced Lactose Whey Market – Macro Economic Scenario
5. Reduced Lactose Whey Market Size And Growth
…..
27. Reduced Lactose Whey Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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