Condensed Whey Global Market Report 2024

Condensed whey is a concentrated liquid remaining after milk is strained and coagulated. It serves as a significant source of food protein, containing immunoglobulins, ß-lacto globulin, serum albumin, protease-peptones, and a-lactalbumin. This byproduct is generated during cheese manufacturing when protein and butterfat are extracted from the milk.

Condensed whey comes in various types, including plain condensed whey, sweetened condensed whey, and condensed acid whey. The preparation of plain condensed whey involves pasteurizing the whey and then drawing the hot liquid into a vacuum pan. Widely employed in dairy, bakery goods, baby food, meat products, beverages, soups, sauces, dressings, and creams, plain condensed whey finds diverse applications in the food and beverage industry. Its versatility extends to various sectors, including bakery products, confectionery, jams, jellies, animal nutrition, and powdered whey.

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.

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 observed in the historical period can be attributed to the rising demand for dairy-based products, the industrialization of dairy production, health and wellness trends, efforts to reduce food waste, and supportive regulatory measures.

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 anticipated growth in the forecast period can be attributed to factors such as global population growth, an increasing number of health-conscious consumers, growing sustainability concerns, the expansion of e-commerce, emphasis on research and development, international trade agreements, and increased consumer education. Prominent trends expected during this period encompass the rise of plant-based and dairy-free alternatives, the popularity of clean label products, the incorporation of functional ingredients, the introduction of flavored varieties, and the surge in online retail and direct-to-consumer sales.

The expansion of the bakery and confectionery industry is anticipated to drive growth in the condensed whey market. Condensed whey, a valuable ingredient, finds application in dairy products, bread, and various bakery items, enhancing the structure, porosity, freshness retention, and taste of the final products while elevating their nutritive value. Notably, in May 2023, as reported by Canada.ca, a Canadian government website, the United States witnessed a 2.2% annual growth in retail sales of baked goods from 2022 to 2026, reaching a substantial US$75.8 billion. Consequently, the upswing in the bakery and confectionery sector is a significant driver for the growth of the condensed whey market.

The increasing demand for healthy food products is poised to fuel the expansion of the condensed whey market. Healthy food products, characterized by their ability to provide essential nutrients and promote overall well-being while minimizing negative health impacts, are incorporating condensed whey due to its nutritional and functional benefits. These include high protein content, an excellent amino acid profile, digestibility, and the capacity to enhance sensory properties in food. For example, according to the Food and Health Survey by the International Food Information Council (IFIC), a US-based non-profit educational organization, 52% of Americans reported following a diet or eating pattern in May 2023, marking a 13% increase from the previous year. Consequently, the rising demand for healthy food products is expected to drive the growth of the condensed whey market.

A notable trend gaining traction in the condensed whey market is the introduction of new products. Companies within the market are actively launching improved condensed whey products with the aim of expanding revenues and consumer bases. In April 2023, Arla Foods Ingredients, a Denmark-based provider of food ingredients, unveiled Nutrilac ProteinBoost. This innovative product caters to the needs of health-conscious consumers and manufacturers, offering up to 15% protein content in high-protein ice cream while delivering a clean, neutral dairy taste. This exemplifies the industry's commitment to innovation and meeting evolving consumer preferences.

Prominent companies in the condensed whey market are actively engaged in the development of innovative products such as Lacprodan IF-7390 Organic, a whey protein concentrate, as a strategic move to gain a competitive edge. Lacprodan IF-7390 Organic stands out as a certified organic whey protein concentrate derived from organic whey sources. Notably, in March 2022, Arla Foods Ingredients, a Denmark-based provider of food ingredients, introduced Lacprodan IF-7390 Organic, alongside Premium Lactose Organic. These products are underpinned by robust associations with health and food safety, reflecting the company's commitment to meeting evolving market demands.

In a significant development in April 2023, Leprino Foods, a prominent US-based company specializing in cheese, lactose, whey protein, and sweet whey, completed the acquisition of a 100% stake in Glanbia Cheese UK and Glanbia Cheese EU from Glanbia Plc for an undisclosed amount. This strategic move positions Leprino to leverage the combined expertise, knowledge, and strengths of the acquired entities to further enhance and expand its international presence. The acquisition provides access to key markets across the globe. Glanbia PLC, based in Ireland, is a leading dairy supplementary company involved in the manufacturing of whey protein, cheese, dairy, and non-dairy nutritional ingredients.

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

North America was the largest region in the condensed whey market in 2023. 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 countries covered in the Condensed Whey market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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.

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.


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