Market Research Future has published a cooked research report on the Global Whey permeate market, 2023–2032. The global Whey permeate market is projected to exhibit a CAGR of 4.35% during the forecast period of 2023 to 2032.
Whey Permeate Market Highlights
The global Whey permeate market is projected to be valued at USD 1.1 billion by 2032, recording a CAGR of 4.35% during the forecast period. The increasing application in the feed industry is expected to be the prime factor driving the growth of the global whey permeate market. Likewise, the growing consumption of milk products is expected to fuel the growth of the global market during the review period. However, growing incidences of lactose intolerance are expected to hamper the growth of the global market. Nevertheless, the growing use of whey permeates confectionery products is expected to create lucrative opportunities for the players operating in the global market.
Market Research Future has recognized the following companies as the key players in the global Whey permeate market: Sloan Valley Dairies Ltd, Agropur Cooperative, FIT, Proliant Dairy, Inc., Hilmar Cheese Company, Inc., Glanbia plc., Arla Foods amba, Agri-Dairy Products, Inc., Melkweg Holland B.V., Lactalis Ingredients.
Segmental Analysis
The global Whey permeate market has been segmented based on application and region.
Based on application, the global whey permeate market has been segmented into food and beverages, animal feed, and others. The animal feed segment accounted for a larger market share of 56.14% in 2021. Whey permeates, also known as dairy product solids, are the best choice for piglets. It can also be used in poultry and cattle. Permeate contains quality lactose and essential minerals like calcium and phosphorous. Whey ingredients are all-natural and highly nutritious. Moreover, they are easily digestible feed sources for the animals. Also, whey is added to grass and legume silages to increase quality and digestibility. Whey is also applied to urea-treated corn silage to lower its nitrogen concentrations.
Regional Analysis
On the basis of region, the Whey permeate market has been categorized as North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, North America accounted market share of 46.20% of the global market in terms of value in 2021 growing at a CAGR of 4.18% during the forecast period. Key factors attributing to North America’s large share include increasing applications of whey permeate in the feed industry, increasing usage of dairy permeate as a substitute ingredient for sodium reduction, and the presence of a large number of market players in the region. For instance, in August 2018, Glanbia Nutritionals and Proliant Dairy Ingredients announced a strategic partnership to set up a plant in Michigan to produce whey protein by investing US$ 85 million. This partnership will help the company expand its product portfolio and increase its customer base. Europe dominates the market with a market share of 34.25% with a CAGR of 4.48% during the forecast period 2022-2030. The rise in the demand for highly matured sports nutrition, the geriatric population in Europe, health-conscious consumers, and an increasing number of health and fitness clubs or centers are the major factors driving the market growth in Europe. The surge in the nutritional values, flavors, ease of carrying, and perishable nature are making whey snacks a popular choice amongst not only health-conscious people but also millennials who are looking for quick snack options for full meals and older people looking for a protein reach diet are some of the key factors propelling the market's growth in Europe. Furthermore, increasing the number of acquisitions, collaborations, and development of novel products in whey permeate is anticipated to drive the demand in the market. Additionally, the importance of fitness and clinical nutrition provides substantial growth to the whey protein market. The demand for dairy alternatives has increased among lactose-intolerant adults in the European region. Asia-Pacific holds a market share of 16.26% of the global whey permeate market in 2021, growing at a CAGR of 4.84% during the forecast period. The growing population and rising demand for processed food are the major factors driving the market growth in Asia-Pacific. For instance, according to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), India processed food industry was valued at USD 258 billion in 2015, which is expected to increase to USD 535 billion by 2026. Increasing production and consumption of meat and dairy products in the region is expected to boost the market in the upcoming years. In meat processing, permeate is used as a replacement for sodium chloride in brining process to lower the sodium content in meat and poultry. As brining is an essential process for packaged meat goods, it helps in improving their shelf life, retaining tenderness, and enhancing taste while cooking. Therefore, with these benefits, demand for permeates in meat processing is expected to remain high, thereby boosting the growth of the whey permeate market over the forecast period in the Asia-Pacific region. Rest of the World holds a market share of 3.29% of the global whey permeate market in 2021, growing at a CAGR of 2.80% during the forecast period. The rest of the world is comprised of the Middle East, Africa, and Latin America. Rising demand for dairy ingredients, a rising trend in the health club and fitness centers, consumer awareness towards a healthy diet, and the keen interest of youngsters in sports and nutrition significantly contributes to the market growth. Additionally, an increase in demand from working women for quality protein infant foods and the nutritional requirements of athletes is driving the growth rates. With a matured retail sector, South Africa is expected to increase shelf space for whey protein products, thus holding a major share in the African region.
Key Findings of the Study:
- The global whey permeate market is projected to register a growth rate of 4.35% from 2022 to 2030.
- The animal feed segment is estimated to retain its dominance with a share of 561.14% in 2021, whereas the food & beverages segment is likely to register a higher CAGR of 4.60% during the forecast period.
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Base Year | 2018 |
Companies Covered | 15 |
Pages | 110 |
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