Condensed Whey Market Segmented by Product, Application, Country, Key players and Industry Forecast- 2025
According to a report, “Condensed Whey Market Size, Share & Trends Analysis Report By Product (Plain, Sweetened, Acid), By Application (Food & Beverage, Animal Feed), By Region, And Segment Forecasts, 2019 – 2025” published by Grand View Research, Inc., the global condensed whey market size is expected to reach USD 4.47 billion by 2025. It is anticipated to expand at a CAGR of 8.4% during the forecast period. The rising importance of whey protein as a key nutritional source for improving muscle protein synthesis and promoting the growth of lean muscle mass among sports enthusiasts is projected to remain a favorable factor. Furthermore, rising concerns over hazardous effects associated with chronic disorders such as cancer, diabetes, and obesity as a result of fluctuating diet patterns among middle-income age groups in emerging economies including China and India are expected to promote the use of condensed whey forms over the next eight years.
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Asia Pacific is expected to remain the fastest-growing market, witnessing a CAGR of 9.1% from 2019 to 2025. The rising importance of wellness and fitness among working-class professionals to maintain a healthy lifestyle in key markets such as Indonesia, Malaysia, Thailand, China, and India is expected to promote the utility of condensed whey products. Furthermore, the positive outlook towards the food processing industry in the aforementioned countries is projected to open new avenues in near future.
Food and beverage application generated more than 60% of the market share in terms of revenue in 2018. The application is expected to witness a significant rise owing to the increased utility of condensed whey as a functional ingredient for manufacturing dairy products, baked goods, confectionery, and jams on account of its exceptional solubility and nutritional characteristics.
Condensed Whey Market Report Highlights
- On the basis of product, the Plain whey segment is used as a dietary ingredient in various types of products including meat products, beverage, and dairy goods. The product also contains high levels of leucine which promotes the synthesis of muscle protein, muscle growth, and loss of fat tissues.
- Sweetened whey is considered a healthier functional ingredient as compared to sugar along with excellent flavor properties and enhanced taste characteristics.
- On the basis of application, animal feed is expected to witness a CAGR of 8.0% during the forecast period. This product finds utility as an animal feed additive, particularly among ruminants for providing benefits including, increased weight gains, improving feed efficiency and protein, and fat digestibility.
- The condensed whey market was led by North America in 2018, accounting for over 45% of the global market share. In the coming years, the high demand for plain, sweetened, and acid whey products is expected to drive regional development forward.
- Asia Pacific is projected to experience the fastest CAGR of 9.1% during the forecast period. An increasingly increasing middle-class population is expected to open new avenues for growth in countries such as China, Japan, Indonesia, South Korea, Malaysia, and India.
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Grand View Research has segmented the global condensed whey market on the basis of product, application, and region.