Condensed Whey Global Market Report 2023
Major players in the condensed whey market are Agri-Mark Inc., Berkshire Dairy and Food Products, Chicago Dairy Corporation, Dairy Farmers of America, Foremost Farms USA Cooperative Inc., Associated Milk Producers Inc.
New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Condensed Whey Global Market Report 2023" - https://www.reportlinker.com/p06282403/?utm_source=GNW
, Leprino Foods Company Inc., Fonterra Co-operative Group Limited, Saputo Inc., Agropur Inc., and Optimum Nutrition.
The global condensed whey market grew from $2.82 billion in 2022 to $3.09 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The condensed whey market is expected to grow to $4.47 billion in 2027 at a CAGR of 9.7%.
The condensed whey market consists of sales of condensed plain whey; acid whey and sweetened whey.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Condensed whey is defined as a dense fluid that is remained after milk has been strained and coagulated.Whey is one of the main existing storages of food protein as it contains immunoglobulins, -lacto globulin, serum albumin, protease-peptones, and a-lactalbumin.
It is also the resulting food ingredient from the manufacturing of cheese when protein and butterfat are removed from the milk.
North America was the largest region in the condensed whey market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the condensed whey market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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.
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, according to a report published by American bakers association, a US-based non-profit organisation, the sales in the bakery aisle grew by 62.3% in the week ending March 15 2020. Furthermore, according to IRI, a US-based Information Resources, Inc., combined cookies and crackers sales increased by 44.3%. ThereforeTherefore, the growth in the bakery and confectionary industry is driving the growth of the 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 consumer base.
For instance, in June 2020, Lactalis, a France-based dairy products corporation, launched, introduces a new SMP HHHS for condensed milk whey, a skimmed milk powder. This skimmed milk powder, known as HHHS, can be used to make evaporated and sweetened condensed milk, because it is stable at the temperature of in-can sterilisation.
In 2020, Leprino Foods, a US-based company that produces cheese, lactose, whey protein and sweet whey, acquired 100% stake in Lactojara Indústria e Comércio de Laticínios, for an undisclosed amount.Through this acquisition, Leprino is expected to expand its business in Brazil and the United States.
Laticinios Damatta Industria e Comercio Ltda is a Brazil-based company involved in manufacturing natural cheese, processed cheese, cheese foods, cheese spreads, and cheese analogs.
The countries covered in the Condensed Whey market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The condensed whey research report is one of a series of new reports that provides condensed whey statistics, including condensed whey industry global market size, regional shares, competitors with condensed whey share, detailed condensed whey segments, market trends and opportunities, and any further data you may need to thrive in the condensed whey industry. This condensed whey research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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