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.
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 Size. 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.
Regional Outlook
North America is the clear winner in the whey permeate market Overview 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.
Top Industry Contenders
Key whey permeate market Players 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.
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