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Condensed Whey Market: Major Trends Reshaping the Future of the Industry
Condensed Whey
What Will the Condensed Whey Industry Market Size Be by 2025?
The market size of condensed whey has experienced robust expansion in recent years. The projection suggests an increase from $3.35 billion in 2024 to $3.67 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.7%. The substantial growth during the historic period is a result of the escalating demand for dairy-derived products, the industrial advancement of dairy production, health-conscious trends, efforts towards reducing food wastage, and regulatory backing.
What's the Long-Term Growth Forecast for the Condensed Whey Market Size Through 2029?
The market size of condensed whey is projected to witness robust expansion in the approaching years, reaching $5.24 billion by 2029, reflecting a compound annual growth rate (CAGR) of 9.3%. This growth during the forecast period is primarily driven by factors such as the expanding global population, increasing awareness about health among consumers, sustainability issues, the rise of e-commerce, research and innovation, international trade pacts, and efforts towards consumer education. Some of the key trends anticipated over the forecast period encompass plant-based and dairy-free alternatives, clean-label products, functional elements, variety of flavors, online retail, and direct-to-consumer sales.
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What Are the Key Growth Drivers Fueling the Condensed Whey Market Expansion?
The progression of the bakery and confectionery sector is expected to drive the advancement of the condensed whey industry. Condensed whey is incorporated in dairy items, bread, and an array of bakery items, enriching structure, porosity, flavor, and preservation of freshness in the end product while boosting its nutritional value. To illustrate, in May 2023, as per Canada.ca, a government-run website based in Canada, within the United States, the retail sales for baked items grew by 2.2% from 2022 to 2026, reaching a whopping US$75.8 billion. Hence, the growth observed in the bakery and confectionery sector fuels the expansion of the condensed whey market.
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What Are the Key Trends Driving Condensed Whey Market Growth?
The introduction of new products is becoming a significant trend in the condensed whey market. Firms operating in this market are unveiling advanced condensed whey commodities to amplify their earnings and consumer network. For example, Arla Foods Ingredients, a food ingredient supplier based in Denmark, debuted Nutrilac ProteinBoost in April 2023 to cater to the demands of health-focused consumers and producers. Nutrilac ProteinBoost has the potential to deliver up to 15% protein content in high-protein ice cream, offering a clean, neutral dairy flavor.
How Is the Condensed Whey Market Segmented?
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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Which Companies Are Leading the Charge in Condensed Whey Market Innovation?
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
Which Regions Are Leading the Global Condensed Whey Market in Revenue?
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.
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