Market Highlights
The global whey permeate market is projected to exhibit a CAGR of 4.05% during the forecast period of 2021 to 2028.
The global whey permeate market is projected to be valued at USD 970.6 million by 2028, recording a CAGR of 4.05% during the forecast period. Whey permeate has applications in various industries. It can be used as a fat-free carbohydrate ingredient, including as a bulk sweetener in confectionery, chocolate, and bakery products. Whey permeate has an ability to replace other, more expensive milk solids without altering the texture and taste of food products or needing changes to processing parameters. Whey permeate is used as an alternative to whey powder, demineralised whey powder or lactose. The demand for whey permeate is increasing from various industries from past few years. Owing to this, many manufcaturers are introducing whey permeate in various food applications. For instance, Arla Foods Ingredients has welcomed a major development for Chinese markets, as the country recently permitted imports of whey permeate for use in major product lines such as chocolate and biscuits. This creates growth opportunities for global whey permeate market for the forecast period. However, there has been a rise in the number of cases of lactose intolerance across the globe. Whey permeate contains 44–50 g l−1 lactose. The average content of lactose in whey permeate is 80%. This can restrict the growth of global whey permeate market for the forecast period.
The lockdown in various countries across the globe is also affecting the production capacity of the whey permeate manufacturing companies. Manufacturers in the industry are also facing production problems as they have to either shut down production to ease employee concerns or are run production under-staffed. Procurement of ingredients has also become a major concern for the manufacturers. The company’s contract manufacturer that produces the whey permeate had to close the production facility in response to the ongoing disease outbreak, which has affected both the manufacturing and shipping of the whey permeate. This is further hampering the demand-supply of whey permeate.
With countries across the world, locking down their borders, there have been minimum export-import movements, which has profoundly impacted the growth of the overall whey permeate industry. Measures to control COVID-19 have led to multiple productions and transport disruptions in China, where much of the global supply of ingredients originates. All this has severely affected the supply chain of whey permeate market size at a global level.
Major Key Players
Market Research Future has recognized the following companies as the key players in the global whey permeate market Arla Foods amba (Denmark), Agri-Dairy Products, Inc. (US), Melkweg Holland BV (Netherlands), LACTALIS Ingredients (France), Arion Dairy Products B.V. (Netherlands), Havero Hoogwegt B.V. (Netherlands), Sloan Valley Dairies Ltd. (Canada), FIT Company (France), Agropur Ingredients (US), and American Dairy Products Institute (US).
Segmental Analysis
The global whey permeate market analysis has been segmented based on product type, distribution channel, and region.
By application, the global whey permeate market revenue has been segmented as food & beverage, animal feed, and others. Food & beverage is further segmented as bakery & confectionery, beverages, sweet & savory snacks, dairy & frozen desserts, others. Food & beverage segment accounted for the largest market share in 2020 and is expected to raise at a decent pace during the forecast period. However, the feed segment is expected to grow with a significant CAGR in the global whey permeate market for the forecast period. As whey permeate is a free-flowing powder which blends uniformly and dissolves easily, even in the high-moisture conditions, it has become an ideal choice, particularly for baby pigs, poultry, cattle, and aquaculture feed. Owing to the increasing demand for whey permeate in feed applications, the feed segment is expected to grow with the highest CAGR for the forecast period.
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Regional Analysis
Geographically, the global whey permeate market has been categorized as North America, Europe, Asia-Pacific, and Rest of the World. As per MRFR analysis, North America constituted a dominant whey permeate market share in 2022. And Asia-Pacific is expected to grow with the highest CAGR during the forecast period.
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Market Status
The whey permeate market can touch around USD 970.6 million by 2028, says MRFR (Market Research Future). The market growth will be at a rate of 4.05% between 2021 and 2028, adds MRFR.
Market Drivers and Deterrents
Whey permeate is also called high lactose dairy product solids that has plenty of lactose content, which is around 80 percent. Whey permeate enjoys considerable demand among consumers, due to its sweet taste and pleasant flavor. Whey permeate is much sweeter compared to sweet whey sold in the market, owing to which its demand in the confectionary industry is rising at a considerable pace. It is also GRAS-approved, which means it is suitable and safe for both food and feed applications. Due to its sweet dairy flavor, majority of the manufacturers are using whey permeate as a chief ingredient in their confectionery and chocolate products.
Top Industry Contenders
American Dairy Products Institute (US), Agri-Dairy Products, Inc. (US), LACTALIS Ingredients (France), Arion Dairy Products B.V. (Netherlands), Havero Hoogwegt B.V. (Netherlands), Melkweg Holland BV (Netherlands), Arla Foods amba (Denmark), Agropur Ingredients (US), Sloan Valley Dairies Ltd. (Canada), FIT Company (France), are the top developers of whey permeates.
Market Growth Bolstered by the Escalating Demand Among the Young Population
Mounting number of individuals between the age of 16 and 28 years in Latin America and Asia Pacific and their ever-evolving food habits fosters the growth of the whey permeate market. The rising competition between confectionery brands in these regions compels the manufacturers to emphasize on better marketing activities and product innovation.
Confectionery products are touted to be the best alternative to biscuits and chocolates. Confectionaries are designed in a way to enhance their attractiveness among consumers of different ages. Therefore, whey permeate is the best ingredient to be used in confectionary products owing to its smooth texture and savory taste. With the consistent growth of the young population worldwide, confectionary products will continue to experience considerable demand, which in turn will raise the sales of whey permeate.
Segmental Analysis
Major applications of whey permeate are animal feed, food & beverage, and others.
Food & beverage-based segments are beverages, bakery & confectionery, dairy & frozen desserts, sweet & savory snacks, and others.
Food & beverage segment, in 2020, captured the top position and will maintain a decent pace of growth all through the analysis period. Whey permeate is extensively deployed as a fat-free carbohydrate ingredient, also as a bulk sweetener in confectionery and chocolate products. It is an excellent replacement for expensive milk solids with no alteration to the texture or taste of the food products.
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Regional Outlook
North America is the clear winner in the whey permeate market and its leadership will remain intact throughout the given timeline. North America is a leading producer and consumer of whey permeate, reveals the International Dairy Federation. Most of the whey permeate in the region is utilized in the animal feed industry. Given the rising use of whey permeate in the feed industry, the regional market will be making significant progress in the years to follow.
Asia Pacific can anticipate the fastest growth in the years to come, thanks to the changes in eating trends across China and several other countries. With the emerging quit smoking trend, anti-smokers in the region are opting for throat sweets as well as breathe fresheners, which enhances the demand for whey permeate in the medicated segment. In addition, the developers are trying to understand the consumer needs and are accordingly offering products, with appealing characteristics. Other than this, companies in the region are focusing on creating consumable products that have a host of health benefits, with the aim to leverage several opportunities.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America