The global lactose market is predicted to be worth US$2,312.50 million in 2022, rising to US$4,169.8 million by 2033. During the projection period of 2023 to 2033, the market is estimated to grow at a 6% CAGR.
The Food Industry Association estimates that 30% of all households have clients who are vegan, vegetarian, flexitarian, or pescatarian. Manufacturers of plant-based butter now have new opportunities thanks to this development. The growing consumer preference for natural, clean-label products is what’s driving the demand for plant-based butter, and dairy producers are responding by researching and releasing vegan alternatives.
Get your hands on our Sample Report to stay up-to-date on the latest developments in the Lactose Market. Download now!@
https://www.futuremarketinsights.com/reports/sample/rep-gb-12375
As a result of the hundreds of supply shortage occurrences that have been documented in recent years, new technology manufacturing facilities have been built, increasing production capacity and bridging the supply-demand gap. The global market is projected to grow as a result of the ongoing expansion of production facilities using new technologies.
Key Takeaways
- Lactulose to emerge as the lucrative derivative type, accounting for nearly 30% sales
- United States will continue to account for significant market share among all countries
- Powdered form lactose will continue to outsell lactose in granule form
- Food industry will be the mainstay for lactose demand, but opportunities in animal feed are growing
- UK lactose to mimic broader consumer trends in Europe
- Lactose market players in Japan and South Korea target novel applications
“While food and beverage industry has accounted for bulk of the demand, market players are exploring applications in animal feed and personal care industry ” said a lead analyst at FMI
Competitive Landscape
Emerging nations represent an exceptional opportunity for the lactose industry. Players are making significant investments to penetrate the untapped markets through affordable offerings. Key stakeholders in the lactose market have commenced significant revamps to their strategies in emergent countries and purpose is to increase access to their products.
In recent years, lactose market has witnessed product launches with the development of lactose by key manufacturers in order to increase their market share globally. Companies are coming up with various lactose based ingredient and derivatives for application in various segments.
Ask to Expert, About this Report@
https://www.futuremarketinsights.com/ask-question/rep-gb-12375
- In 2015, Meggle one of key player of lactose, launched triple compound pharma grade lactose CombiLac®, specifically designed to ease oral solid dosage.
- In 2019, Kerry announced to launch Aero Flo brand for inhalation lactose grade. Brand named Aero Flo® for inhalation grades of lactose have been explicitly developed for usage in dry powder inhalers for pulmonary delivery of pharmaceuticals.
Who is Winning?
Some of the key players operating in the lactose market are, Armor Pharma, Avantor, Inc., Ba’emek Advanced Technologies Ltd (Tnuva Group), BASF SE, Davisco Foods International, Inc., DFE Pharma (JV of Royal FrieslandCampina & Fonterra Ltd.), Hilmar Ingredients, Hoogwegt Groep B.V., Kerry plc., Lactose (India) Limited, Merck KgaA, Milei Gmbh, Molkerei MEGGLE Wasserburg GmbH & Co. KG and other players.
Key players are focusing on partnership in order to gain larger market share and to capture new geographical areas to get access to new markets.
- In 2019 LBB Specialties announced that it has signed a strategic partnership deal with Meggle for the distribution of Meggle’s Pharmaceutical Lactose excipients, including lactose for inhalation formulations, in the United States.
- In 2019, MEGGLE Excipients & Technology signed an agreement with Quadra Chemicals Ltd., a leading chemical and ingredient distributor, to represent its lactose excipient portfolio for the pharmaceutical and nutraceutical industries in Canada.
Get Valuable Insights into Lactose Market
Key Segment
Form
- Powder
- Granule
End Use
- Food and Beverage
- Bakery
- Confectionery
- Functional Food
- Pharmaceutical
- Animal Feed
Derivative Type
- Lactose Monohydrate
- Galactose
- Lactulose
- Lactitol
- Other (tagatose, lactobionic acid)
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
