Newark, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 0.85 Billion in 2022 permeate market will reach USD 1.5 Billion by 2032. Permeate, a byproduct of the dairy industry, is frequently employed as a low-cost sweetener in foods and beverages because of its high lactose and mineral content. As individuals become more health conscious, there is a growing trend towards natural sweeteners with fewer calories. This need is met by permeate, which also saves producers money. Furthermore, permeate's high nutritional value makes it perfect for use in animal feed, creating a new market in regions with significant livestock industries.
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Key Insight of the Permeate Market
North America emerged as the most significant market, with 31.3% market revenue share in 2022.
North America dominated the market, with a market share of around 31.3% in 2022. The growth in the USA can be attributed to greater consumer awareness of the value of a well-balanced diet and the necessity of adequate protein intake. As a result, there is an increase in demand for dietary supplements and other goods that are rich in nutrients.
The milk permeate segment is expected to grow at the highest CAGR of 7.2% over the forecasted period.
Over the projected period, the milk permeate segment is anticipated to grow at the highest CAGR of 7.2%. The process by which milk permeate is accepted and used in the dairy industry is known as the milk permeate segment. Milk permeate, a byproduct of milk manufacturing, contains lactose, calcium, and certain proteins.
The animal feed industry segment is expected to grow at the highest CAGR of 8.4% over the forecasted period.
Over the projected period, the animal feed industry segment is anticipated to grow at the highest CAGR of 8.4%. The permeate component of the animal feed business refers to the use of permeate in animal feed formulations. Several food processing companies produce the byproduct permeate, which can be utilised as a component in animal feed. Minerals, amino acids, and vitamins are among the nutrients found in permeate.
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Market Dynamics
Driver: Permeate benefits
The benefits for personal health and nutritional value of permeate are widely recognised. It is a complete protein with a high concentration of vital amino acids that is also simple to digest. The demand for protein-rich, healthful foods and beverages, particularly in sectors like sports nutrition, dietary supplements, and nutritional supplements, has fueled the market penetration of permeate.
Restraint: Lack of acceptance among consumers
The acceptance and use of permeate items may be influenced by consumer assumptions regarding their flavour or texture. Everybody has a different sense of taste, thus for some consumers, the flavour or aftertaste of permeate products may be discouraging.
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Some of the major players operating in the permeate market are:
• Glanbia plc
• Hoogwegt Group
• Idaho Milk Products
• Lactalis Ingredients
• Proliant Dairy Ingredients
• RAWA pharm
• Volac International Limited
• Agropur Ingredients
• Arion Dairy Products B.V.
• Armor Proteines
Key Segments cover in the market:
By Product:
• Whey Permeate
• Milk Permeate
By Application:
• Animal Feed Industry
• Food & Beverages Industry
By Region
• Asia Pacific (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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