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Condensed Whey Market Primed for Vigorous Growth, Envisioned to Reach $4.8 Billion by 2028 - Unveiling Key Drivers, Emerging Trends, and Expansive Market Size
Condensed Whey Global Market Report 2024
Experiencing robust growth, the condensed whey market is poised to increase from $3.05 billion in 2023 to $3.35 billion in 2024, exhibiting a Compound Annual Growth Rate (CAGR) of 9.7%. This upward trend is expected to persist, reaching $4.8 billion by 2028, maintaining a CAGR of 9.4%.
Bakery and Confectionery Industry Boosting Market Growth
The condensed whey market is witnessing substantial growth propelled by the expanding bakery and confectionery industry. Condensed whey plays a crucial role in enhancing the structure, porosity, freshness, and taste of final products in the industry. Notably, baked goods retail sales in the United States expanded at a rate of 2.2%, reaching US$75.8 billion from 2022 to 2026, underlining the significant contribution of the bakery and confectionery sector to the condensed whey market.
Rising Demand for Healthy Food Driving Market Expansion
The market is experiencing a surge in growth due to the increasing demand for healthy food products. Condensed whey, with its nutritional benefits such as high protein content, excellent amino acid profile, and digestibility, aligns with the growing preference for healthy food choices. The Food and Health Survey by the International Food Information Council (IFIC) reported a 13% increase in Americans following a diet or eating pattern, reaching 52%, indicating a heightened demand for healthy food products and driving the condensed whey market.
Explore the Global Condensed Whey Market with a Detailed Sample Report:
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Innovative Product Launches:
A prominent trend in the condensed whey market is the focus on innovative product launches. Companies are introducing improved condensed whey products to cater to health-conscious consumers and gain a competitive edge. For instance, Arla Foods Ingredients launched Nutrilac ProteinBoost in April 2023, offering up to 15% protein content in high-protein ice cream while delivering a clean, neutral dairy taste.
Competitive Edge with Innovative Products:
Leading companies are enhancing their competitiveness by introducing innovative products. Arla Foods Ingredients introduced Lacprodan IF-7390 Organic, a whey protein concentrate, to gain a competitive edge. This certified organic whey protein concentrate reflects the industry's commitment to health and food safety.
Regional Insights and Segmentation:
North America dominated the condensed whey market in 2023, with Asia-Pacific expected to be the fastest-growing region.
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
Access the Complete Report for In-Depth Analysis:
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Condensed Whey Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Condensed Whey Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on condensed whey market size, condensed whey market drivers and trends, condensed whey market major players, competitors' revenues, market positioning, and market growth across geographies. The condensed whey market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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