Condensed Whey Market Size, share and Growth Rate:
Condensed Whey Market size was valued at USD 2.54 Billion in 2018 and is expected to grow till 2025 at a CAGR of about 8.4%. Whey is now one of the largest food protein repositories available, which is nothing but the remaining liquid after the milk has been curdled and strained. Whey proteins are composed of serum albumin, α-lactalbumin, β-lactoglobulin, protease-peptone, and immunoglobulin, making them one of the most prominent sources of protein.
Condensed Whey Market Demand;
The whey-based products industry is seeing a rise in demand due to being one of the most affordable and nutritious proteins on the planet. The increasing applications of condensed whey in the manufacture of different food and beverage products encourage the growth of the industry. As one of the key ingredients in these products, the ever-increasing bakery and confectionery industry is the primary driver of the rising market for condensed milk.
In fact, powdered milk is used as a source of protein in several ready-to-drink drinks to satisfy an individual's body requirements. The growing use of condensed whey as a protein supplement will have a positive influence on product sales in infant food formula. Throughout their feed and recipes, the suppliers of animal nutrition products use concentrated whey to improve their product offerings and provide adequate protein intake and nutrients for livestock. The growing industry of animal feed is another crucial driver for the increasing demand for condensed whey.
Drivers and limitations of Condensed Whey Market:
Expanding demand for healthy food products coupled with increasing awareness of healthy lifestyles are some of the primary factors expected to drive global market growth. Moreover, the development of food supplements and whey protein items consumption for muscle building is another factor expected to boost this market revenue.
Increasing worries about the supply of livestock feed supplies for the production of dairy products due to fluctuating climate patterns and rising cattle yields in influential countries like New Zealand, China and India are expected to remain a critical problem for market stakeholders in the near future.
Geographical Presence of the Condensed Whey Market:
The market is geographically divided into, North America Condensed Whey Market (United States, Canada), Latin America Condensed Whey Market (Brazil, Argentina, Mexico), Europe Condensed Whey Market (United Kingdom, France, Germany, Spain, Italy), Middle East and Africa Condensed Whey Market (Saudi Arabia, United Arab Emirates, Lebanon, Jordan, Cyprus), Asia Pacific Condensed Whey Market (China, India, Japan, South America, Australia, New Zealand, and Southeast Asia).
Regional Share and Growth Insights:
The compressed whey demand was dominated by North America in 2018, accounting for more than 45% of the global volume. It is anticipated that the high demand for plain, sweetened, and acid whey products will push forward regional growth over the coming years. The USA Dairy Company and Optimum Nutrition (ON) are the top U.S. manufacturers. High consumer awareness of muscle building has played a crucial role in promoting the effectiveness of compressed whey sources, notably among the U.S. and Canadian teenagers.
Between 2019 to 2025, Asia Pacific is predicted to see the highest CAGR of 9.1%. The rapidly growing middle-class population is expected to open up new opportunities for growth in countries like China, Japan, Indonesia, South Korea, Malaysia, and India. Also, encouraging investment-friendly policies by governments of emerging economies such as China and India in domestic food processing sectors are expected to drive demand further.
Detailed Segmentation of the Condensed Whey Market:
The Condensed Whey market is segmented on the basis of product and application apart from a regional analysis. The product segment is further divided into plain, sweetened and acid categories. From an application prospect, it includes food and beverages and animal feed, among others.
The market for plain condensed products accounted for USD 1.22 billion in 2018. Plain whey is used in meat products, beverages, and dairy goods as a dietary ingredient. Being rich in amino acid, the product promotes muscle growth, along with repairing muscle tissue. Further, plain whey contains high levels of leucine that supports the synthesis of muscle protein, muscle growth, and loss of fat tissues.
In 2018, food and drink generated revenue of over USD 1.74 billion. This category is expected to see growth due to the increased utility of condensed whey in baked goods formulation, which improved characteristics including viscosity, foam forming, emulsification, and dough reinforcement. Also, this product form can improve the properties of the texture and induce low hygroscopicity of both baked products and confectionery. Animal feed is forecast to be 8.0 percent CAGR between 2019 and 2025.
This material is useful as an additive for animal feed, particularly among ruminants to provide benefits including increased weight gains, enhanced feed quality, and digestibility of protein and fat. Besides, regular consumption of compressed material types by animals often contributes to improved characteristics of mineral absorption and retention.
Condensed Whey Market Key Market Players:
Condensed Whey Market Research Methodology:
Market research involves studying market trends, growth patterns, and understanding the influence of variables like macro and microeconomic conditions, geopolitical and demographic conditions on the market value and market dynamics.
The research methodology used to calculate and forecast the Condensed Whey market began by collecting information on the market key player's sales using multiple sources via secondary research. In order to identify market segmentation, supplier offers have been considered.
Condensed Whey Market Research Report Key Highlights:
Key Questions Answered by the Report?
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2.2 Food and Beverage
18.104.22.168 Dairy Products
22.214.171.124 Bakery Products & Confectionery
126.96.36.199 Sauces, Soups and Dressings
188.8.131.52 Jams and Jellies
184.108.40.206 Meat Products
5.2.3 Animal Feed
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By Application
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product
184.108.40.206 By Application
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Leprino Foods Company Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Foremost Farms USA Cooperative, Inc.
8.3 Dairy Farmers of America, Inc.
8.4 Associated Milk Producers Inc.
8.5 Agri-Mark, Inc.
8.6 Berkshire Dairy and Food Products
8.7 Agropur Inc.
8.8 Chicago Dairy Corporation
8.9 Saputo Inc.
8.10 Fonterra Co-operative Group Limited
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures