The new WHEY BOOK 2018 by 3A Business Consultingpresents a comprehensive analysis of whey and lactose ingredients, covering the market in terms of production, trade, demand, new product launches, major companies, investments, strategic alliances and mergers & acquisitions as well as an outlook towards 2022 of this dynamic growth market.
“Whey and lactose ingredients will continue to outpace the general food and food ingredients market in terms of volume growth, and the whey and lactose industry will be able to keep up with the growing demand over the forecast period 2018-2022”, says Tage Affertsholt. This assertion is supported by large investments in whey and lactose processing capacity and technology over the review period as well as increasing utilization rates of liquid whey as the raw material.
In developed countries, a clear product trend of adding value to the whey pool has become apparent as high-end protein product such as WPC80, WPI as well as DWP90 to some extent, are growing strongly, whereas production of whey powder and other low-end products are stagnating. In most developing regions, however, low-end products are still showing significant growth with limited processing into value-added whey ingredients taking place. The major driver of this value-adding trend in Western Europe, Oceania and the US, is growth in the important nutritional application sectors, such as sports nutrition, infant formula, clinical nutrition, and functional foods. Growth of value added protein ingredients is expected to continue towards 2022.
“Whey application in foods and beverages will continue to offer great potential driven by the nutrition industry, new technology and a positive consumer perception of whey proteins”, says Tage Affertsholt.
EU-28 and the US represent the major producers as well as major markets for whey ingredients. Meanwhile, Asia has become the major market for permeate powder and has surpassed North America in terms of market size for permeate. Asia including China is predicted to be the most dynamic region in terms of demand growth over the forecast period 2018-2022. China continues to remain the dominating importer of whey and lactose ingredients with the EU and the US as the key global suppliers.
The global market value for whey powder and whey proteins amounted to approx. USD 6 billion in 2017, down compared to 2016 despite increasing volumes, but with prices significantly lower. At constant 2018 prices, the market value is forecasted to surpass USD 7 billion by 2022. The global market value for pharmaceutical and conventional lactose along with permeate powder is valued at more than USD 2.0 billion in 2017, and is expected to reach USD 2.4 billion in 2022, implying a compounded annual growth rate of 3% over the forecast period at constant prices.
The major players in the whey and lactose ingredient industry are the leading dairy- and cheese companies in the world such as Lactalis, FrieslandCampina, Fonterra, Arla Foods, Saputo, Glanbia, Murray Goulburn, DMK/Wheyco, Leprino, Agropur/Davisco, Sachsenmilch, Savencia/Armor Proteines, Sodiaal/Euroserum and Hilmar. Specialist whey and lactose ingredient companies such as Milk Specialties Global, Meggle, Milei, Volac, Carbery, and Dairygold also play an important role in the global market place. The world’s two largest dairy companies - Nestlé and Danone - are rarely actual producers; however, they are major end-users of whey and lactose ingredients. Many FMCG companies have been expanding their product portfolio to include new product ranges with added protein, a top trend for several years and with whey proteins often as a preferred ingredient for protein fortification in many applications. Additionally, the trend for natural ingredients and clean labels is likewise positive for whey and dairy ingredients. Aligned with this trend is the increasing demand for organic products, and organic whey and lactose ingredients are now also available in the market.
The report can be purchased for EUR 6,400. For more information please contact: Tage Affertsholt - 3A Business Consulting, phone: +45 70 21 00 98 E-mail: firstname.lastname@example.org Web: www.3abc.dk
Source: 3A Business ConsultingAuthor: Sossna