NEWARK, Del, April 24, 2023 (GLOBE NEWSWIRE) -- As of 2022, the worldwide lactose market was worth US$ 2,312.5 million. The market is anticipated to expand at a CAGR of 6% from 2023 to 2033, reaching a total of approximately US$ 4,169.8 million by 2033 due to the ongoing consumer movement towards lactose products.
This kind of sugar in lactose may benefit diabetics due to its low glycemic index. Lactose makes it easier for the gut flora to be balanced. It encourages the growth of the beneficial gut bacteria lactobacilli and bifidobacteria. Furthermore, it guards against potentially hazardous microorganisms that cause intestinal infections. Thus, these advantages are anticipated to increase the demand for lactose in the upcoming years.
The market's growth is mostly a result of the rapidly rising demand for lactose in several industries all over the world. As of 2022, for instance, the demand from customers for lactose has increased significantly over the previous 10 years, and the industry as a whole has expanded along with it, particularly in North America as well as Europe.
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The anticipated total production, with a growing trend, is 510 000 tonnes. Another notable factor that is predicted to have a considerable impact on the lactose market's growth over the course of the forecast time frame is the pharmaceutical industry's quick expansion.
It provides the body with a consistent supply of energy because of its sluggish hydrolysis. Additionally, it encourages the formation of beneficial bacteria like bifidobacteria as well as lactobacilli, which helps to a healthy intestinal ecology and the digestion of minerals like magnesium, calcium, and zinc. Because of these improvements, revenues increased over the anticipated period.
Key Takeaways from the Market Study
- Global lactose market is expected to be valued at US$ 2,921 million by 2023
- From 2018 to 2022, the market demand expanded at a CAGR of 3.3%
- North America is expected to hold the highest market share, with the United States accounting for 32% of revenue
- By end-use type, the pharmaceuticals segment is expected to constitute a 46% market share in 2023.
- On the basis of derivative type, the lactulose segment is expected a 26% share in 2023.
- From 2023 to 2033, lactose market services are expected to flourish at a CAGR of 6%.
“Owing to the varied benefits of lactose and the demand for powder milk for infant powder is accelerating the demand in the global lactose market.” remarks an FMI analyst.
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Competitive Landscape
The key players in this market include BASF SE, Davisco Foods International Inc., Armor Pharma, Hilmar Ingredients, Hoogwegt Group B.V., Kerry Group Plc., Lactose India Limited, Merck & Co. KgAa, Milei GmbH and Ba'emek Advanced Technologies Ltd. among others.
Recent Developments:
- The B2B powdered cheese company and its related assets are being purchased by Kerry Group plc from Kraft Heinz for US$ 107.5 million. Kerry anticipates growing its client base, manufacturing capacity, and scale in the snacking market as a consequence of this transaction.
- The first-ever electric milk truck in New Zealand, the Milk-E, has been welcomed by Fonterra Co-operative Group Limited. One of several initiatives helping the Co-op's aspirations to become a sustainability leader via fleet decarbonization is Fonterra's Milk-E program.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global lactose market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the lactose market, the market is segmented on the basis of lactose market by form (granule and powder), by end use (food and beverage, pharmaceutical and animal feed), by derivative type (lactose monohydrate, galactose, lactulose, lactitol, other), and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
About the Food and Beverage Division at Future Market Insights
The food and beverage team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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Key Segments
By Form:
- Powder
- Granule
By End Use:
- Food and Beverage
- Pharmaceutical
- Animal Feed
By Derivative Type:
- Lactose Monohydrate
- Galactose
- Lactulose
- Tagatose
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary | Lactose Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports help deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Explore FMI’s related ongoing Coverage on Food and Beverage Domain
Lactose and Derivative Market Size: The Lactose and Derivatives market is valued at USD 42.1 Billion in 2022 and is projected to grow at a CAGR of 4.1% during the forecast period, to reach a value of USD 62.9 Billion by 2032.
Lactose Free Dairy Products Market Share: The global lactose free dairy products market is expected to reach market valuation of USD 13.5 Bn by the year 2022, accelerating with a CAGR of 5.5% by 2022-2032.
Lactose-free Cheese Market Trends: The global lactose-free cheese market size is expected to reach a valuation of US$ 676.3 Mn by the end of 2022. The market is set to accelerate at a CAGR of 8.4% during 2022-2032. It is anticipated to be valued at US$ 1,515.1 Mn in 2032.
Lactose-Free Butter Market Demand: The global lactose free butter market is estimated to reach US$ 720 Million in 2022 and is projected to reach US$ 1,643 Million by 2032, at a CAGR of 8.6% from 2022 to 2032.
Lactose-Free Products Market Growth: The global lactose-free products market size is valued at USD 9.2 Billion in 2022 and it is expected to reach US$ 15.8 Billion by 2032 at a CAGR of 7.1% from 2022 to 2032.
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