How Has The Condensed Whey Market Size Evolved In Recent Years?
The condensed whey market has seen considerable growth due to a variety of factors.
• Over the past few years, the market size of condensed whey has expanded significantly. It is projected to rise from $3.35 billion in 2024 to $3.67 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.7%.
This growth observed in the historical period can be linked to factors such as a rise in demand for dairy products, industrialization of dairy production, health and wellness trends, reduction in food waste, as well as supportive regulatory measures.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Condensed Whey Market?
The condensed whey market is expected to maintain its strong growth trajectory in upcoming years.
• The market for condensed whey is anticipated to witness robust expansion in the coming years. The value is predicted to reach $5.24 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.3%.
The projected growth during this period is due to factors like an increasing global population, health-aware consumers, environmental awarenes, e-commerce expansion, research & development efforts, international trade pacts, and consumer literacy. Key trends for the forecast period comprise plant-based and dairy-free substitutes, clean labeled products, beneficial ingredients, flavored versions, online retail shopping, and direct-to-consumer sales.
Which Key Drivers Are Propelling The Condensed Whey Market's Growth?
The expansion of the bakery and confectionery sector is anticipated to boost the condensed whey market. This product embellishes dairy items, bread, and other bakery fare by enhancing their structure, porosity, and taste, while also aiding in maintaining freshness and enhancing nutritional content. For example, data provided by Canada-based government site, Canada.ca, reveals that from 2022 till 2026, there was a 2.2% increase in the retail sale of baked items in the United States, generating a revenue of US$75.8 billion as of May 2023. Consequently, the surging bakery and confectionery industry fuels the expansion of the condensed whey industry.
What Are The Key Segments Within The Global Condensed Whey Market?
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
Subsegments:
1) By Plain Condensed Whey: Unflavored Plain Condensed Whey, Unsweetened Plain Condensed Whey
2) By Sweetened Condensed Whey: Sugar-Sweetened Condensed Whey, High Fructose Corn Syrup-Sweetened Condensed Whey
3) By Condensed Acid Whey: Acid Whey from Cheese Production, Acid Whey from Yogurt Production
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How Are New Trends Impacting The Size Of The Condensed Whey Market?
The inception of new products is a prevailing trend in the condensed whey market that is gaining traction. To boost revenue and attract more consumers, industry players are introducing new and enhanced condensed whey items. For example, Arla Foods Ingredients, a Denmark-based food ingredients supplier, in April 2023, unveiled Nutrilac ProteinBoost, catering to the requirements of health-focused consumers and producers. Nutrilac ProteinBoost has the capacity to offer up to 15% protein content in high-protein ice cream and bestow a fresh, neutral dairy flavor.
Who Are the Key Players in the Condensed Whey Market?
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
What are the Regional Insights into the Condensed Whey Market?
North America was the largest region in the condensed whey market in 2024. 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.
