Condensed Whey Market Size, Share & Trends 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 Date: May, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-101-6
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 110

Industry Insights

The global condensed whey market size was estimated at USD 2.54 billion in 2018 and is anticipated to register a CAGR of 8.4% during the forecast period. Rising awareness regarding physical appearance and the nutritional importance of whey to improve muscle strength among sports enthusiasts is expected to drive the growth. Additionally, rising disposable income among middle-class income groups of developing countries including China, India, and Brazil is projected to promote adoption of the products as a functional foods in near future.

Whey product forms are believed to support immune systems due to the presence of immunoglobulin, which maintains blood pressure. Over the past few years, condensed whey is increasingly being used as a functional ingredient in various applications, such as bakery products, jams and jellies, and confectionery which comprises rich Branched Chain Amino Acid (BCAA). This factor is projected to drive the product demand in the forthcoming years.

U.S. condensed whey market

Condensed whey is considered as a protein ingredient with high concentration of amino acids which prompt its consumption among sports athletes and health conscious people. Furthermore, the product also acts as a key tool for women to lose fat, gain muscle, and to improve athletic strength. For instance, moderate consumption of condensed whey reduces the content of ghrelin - an appetite stimulating hormone - and thus, results in reduced hunger along with enhanced weight loss.

The product also finds application in formulation of infant food formula to meet their nutritional requirements. Significant spending on infant care among working class professionals in developed countries including Germany, France, and U.K. as a result of extensive brand campaigns for child health by regulatory bodies is projected to open new avenues in near future. Over the past few years, the companies including Optimum Premium and IdealLean have launched condensed whey products, especially for women that are capable of providing weight loss and helping building lean and toned muscles.

Product Insights

The market for plain condensed products registered a revenue of USD 1.22 billion in 2018. Plain whey is a pasteurized and is used as a dietary ingredient in various types of products including meat products, beverage, and dairy goods. This product is rich in amino acid content required to promote muscle growth along with helping muscle tissue repair. 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 healthier functional ingredient as compared to sugar along with excellent flavor properties and enhanced taste characteristics. The market for these product forms is projected to reach a value of USD 1.63 billion by 2025. Acid whey products are expected to account for exceeding 15% of the global market share in terms of revenue by 2025. This product form provides superior delivery of amino acid content which helps in building stamina and giving extra energy during workout sessions.

Application Insights

Food and beverage generated a revenue of more than USD 1.74 billion in 2018. This segment is expected to witness growth on account of increasing utility of condensed whey in formulation of baked goods which improved characteristics including viscosity, foam formation, emulsification, and dough strengthening. Furthermore, this product form can improve texture properties and induce low hygroscopicity of baked products as well as confectioneries.

Global condensed whey market

Animal feed is expected to witness a CAGR of 8.0% from 2019 to 2025. This product finds utility as animal feed additive, particularly among ruminants for providing benefits including, increased weight gains, improving feed efficiency and protein and fat digestibility. Furthermore, regular consumption of condensed product forms among animals also results in improving mineral absorption and retention characteristics.

Regional Insights

In 2018, North America led the condensed whey market, accounting for more than 45% of the total share. High demand for plain, sweetened, and acid whey products is anticipated to push the regional growth forward in over the forthcoming years. The USA Dairy Company and Optimum Nutrition (ON) are the leading manufacturers in U.S. High consumer awareness regarding muscle building, especially among youths from U.S. and Canada has played a crucial role in promoting the utility of condensed whey forms.

Europe generated a revenue of more than USD 800 million in 2018. Key markets in this region include France, Germany, U.K., Italy, Spain, and Poland. The high concentration of dairy processing facilities in countries including U.K., Ireland, and France is projected to attract the food and beverage companies to establish their tie-ups and to enter the value chain of condensed whey industry in near future.

Asia Pacific is expected to witness the fastest CAGR of 9.1% from 2019 to 2025. Rapidly growing middle-class population in countries such as China, Japan, Indonesia, South Korea, Malaysia, and India is expected to open new growth avenues. Furthermore, supportive investment friendly policies in domestic food processing sectors by the governments of emerging economies such as China and India is projected to further fuel the growth.

Condensed Whey Market Share Insights

The major market players include Agri-Mark Inc.; Dairy Farmers of America; Associated Milk Producers Inc.; Leprino Foods Company.; and Optimum Nutrition. The establishment of strategic partnerships with distributors and new product launches are expected to remain the crucial success factors. Rising concerns over the availability of cattle feed stock for dairy product processing on account of fluctuating climate patterns and reducing cattle yield in prominent countries including New Zealand, China, and India is projected to remain a crucial challenge to the industry participants in near future.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Germany, China, India, Brazil, Japan

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global condensed whey market report on the basis of product, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2025)

    • Plain

    • Sweetened

    • Acid

  • Application Outlook (Revenue, USD Million, 2015 - 2025)

    • Food & Beverage

      • Dairy Products

      • Bakery Products & Confectionery

      • Sauces, Soups and Dressings

      • Jams and Jellies

      • Meat Products

    • Animal Feed

    • Others

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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