Press release
Condensed Whey Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Agri-Mark Inc., Berkshire Dairy and Food Products LLC., Chicago Dairy Corporation, Dairy Farmers of America
Condensed Whey Market Size
The Business Research Company offers in-depth market insights through Condensed Whey Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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
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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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Market Segmentation:
The main types of condensed whey are plain condensed whey, sweetened condensed whey, and condensed acid whey. The plain condensed whey is prepared by pasteurising the whey and drawing the hot liquid into the vacuum pan. It is widely used in dairy, bakery goods, baby food, meat products, beverages, soups, sauces, dressings, and creams. Condensed whey is used in a variety of applications, including food and beverage, bakery products, confectionery, sauces, soups, and dressings, jams and jellies, meat products, animal nutrition and feed, and powdered whey.
Major Driver - Bakery And Confectionery Industry Growth Fuels Condensed Whey Market
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.
Competitive Landscape:
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
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Top Trend - Innovative Product Launches Enhance Growth Of Condensed Whey Market
New product launches are a key trend gaining popularity in the condensed whey market. Companies in the market are launching new, improved condensed whey products to increase revenues and the consumer base. For instance, in April 2023, Arla Foods Ingredients, a Denmark-based provider of food ingredients, launched Nutrilac ProteinBoost to meet the needs of health-conscious consumers and manufacturers. Nutrilac ProteinBoost can provide up to 15% protein content in high-protein ice cream and deliver a clean, neutral dairy taste.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Condensed Whey Market Characteristics
3. Condensed Whey Market Trends And Strategies
4. Condensed Whey Market - Macro Economic Scenario
5. Condensed Whey Market Size And Growth
…..
27. Condensed Whey Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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