The global galactose market is likely to grow remarkably, exceeding US$ 28.99 billion in 2023. Future Market Insights (FMI) projects a promising future for the industry, estimating that the market value could surpass US$ 46.76 billion by 2033. This progression can be credited to the growing health cognizance among consumers. This has fueled the demand for natural food components. Consequently, the sales of plant-derived galactose have been experiencing an upward trend.
The study also predicts a steady growth rate of 5% in the galactose market between 2023 and 2033. This projection signifies the sustained expansion and potential opportunities within the industry. Consumers prioritize natural and healthy food choices. Therefore, the adoption of galactose is expected to remain robust.
Galactose is recognized for its potential health benefits. These benefits include promoting gut health, supporting immune function, and aiding brain development. As consumers become more health-conscious, a growing demand for products offering added nutritional value is growing. Moreover, rising birth rates and increased awareness of the importance of early-stage nutrition have expanded the infant nutrition industry. These factors have resulted in an increased demand for galactose-based products.
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Are Applications of Galactose in the Food & Beverage Industry Continue Increasing?
Growing demand for healthy food products among consumers is translating into increasing applications of galactose in the food and beverage industry. Plant-derived galactose is an instant energy-providing nutrient and helps in combating various neuron-related diseases.
Applications of galactose in the food and beverage industries account for the leading share of the market. As per FMI, galactose sales in the food industry could surpass US$ 2.8 billion by 2033.
Catering to the burgeoning consumer demand, suppliers usually purchase galactose in bulk quantities for application in products like bakery goods, baby foods, dairy products, alcoholic beverages, fruit drinks, and juice.
Increasing demand for clean labels and certified food and beverage products is also influencing sales of galactose. Galactose is certified as non-GMO, gluten-free, and low-calorie, which in turn is gaining people’s trust, thereby fueling sales of galactose in the food and beverage industry.
How Does the Increasing Demand for Galactose in the Personal Care Industry Contribute to Growth?
Galactose has a lot of anti-inflammatory and probiotic properties, making it ideal for exfoliating and nourishing skincare products. Galactose belongs to the PHA family of chemical exfoliants, which is a new generation of well-known AHAs and BHAs.
PHAs mildly exfoliate the skin, making them suitable for usage on all skin types. The product is beneficial for people dealing with sensitive skin and other skin conditions such as eczema, rosacea, and dermatitis, resulting in increased sales of galactose in the personal care industry.
Galactose also helps to minimize the appearance of dark spots and hyperpigmentation, and unlike other chemical acids like AHAs, it doesn’t increase sun exposure. When swallowed and applied topically to the skin, the product has antioxidant properties, which means it can counteract the effects of excessive exposure to damaging free radicals, such as pollution, climate, central heating, and UV exposure. All these factors are leading to an increase in the application of galactose in the personal care industry.
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Galactose Market Galactose Market: Analyzing Key Players, Strategies, and Market Share in the Global Landscape
Leading players in the global galactose market are investing in research and development in order to bring new products and services to the market. In addition to this, manufacturers are pursuing strategic partnerships with end-users and regional distributors to grow consumer demand. For instance:
- Kyowa Hakko Kirin Co., Ltd. took steps to boost the sales of specialty ingredients as part of its mid-to-long-term strategy in June 2023. This is aimed at achieving improved profitability for the company. Additionally, the company has decided to focus its resources on two specific specialty ingredients: Citicoline and Human Milk Oligosaccharides (HMO). HMOs primarily comprise glucose, galactose, fucose, N-acetylglucosamine, and N-acetylneuraminic acid.
- In 2019, CJ CheilJedang Corp acquired Schwan’s Company (25th February, 2019) and Kahiki Foods Company (29th August 2018) to expand into different markets.
- SAFC introduced a protein quality supplement called EX-CELL to improve N-linked glycosylation in October 2014. It allows users to quickly achieve their desired level of N-linked glycosylation by increasing galactose site occupancy on the oligosaccharide. It is a ready-to-use supplement that complies with GMP standards. EX-CELL Gal+ has been proven effective with different cell lines, including SAFC’s proprietary CHOZN cell line platform.
How can Galactose Industry Players Grow Their Businesses?
- Conduct thorough market research to understand market demand, trends, and competition
- Diversify product portfolio to cater to diverse customer needs with a wide range of galactose-based products
- Implement strict quality control measures to ensure high-quality galactose products that comply with industry standards and regulations
- Invest in research and development to explore new galactose applications like functional food, pharmaceuticals, and nutraceuticals
- Collaborate with industry stakeholders to strengthen the supply chain and expand market reach
- Enter new markets by establishing distribution networks and partnering with local distributors
- Develop effective marketing strategies to promote the benefits of galactose products to target customers
- Stay updated on galactose production regulations for compliance, building trust with customers and authorities
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Key Players
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Kyowa Hakko Kirin Co., Ltd.
- Suven Life Sciences Ltd.
- Nacalai Tesque Inc
- Cayman Chemical Company, Inc.
- Anhui HeGeng Biotech Engineering Co., LTD.
- Tereos Starch & Sweeteners s.a.s
- Cambridge Isotope Laboratories, Inc.
- Zhejiang Yixin Pharmaceutical Co., Ltd.
Market Segments Covered in Galactose Industry Analysis
By Source:
- Plant Derived Sugar
- Synthetic Sugar
By Product Type:
- D-Galactose
- L-Galactose
By Form:
- Powder
- Liquid
- Crystal
By End Use:
- Food
- Bakery Goods
- Sweet Spreads
- Confectionary
- Dairy Products
- Canned Food
- Beverage
- Carbonated Drinks
- Fruit Drink and Juice
- Powdered Drinks and Mixers
- Alcoholic Beverages
- Pharmaceuticals
- Personal Care
- Biofuel Industry
- Animal Feed Industry
Region:
- North America
- Latin America
- Europe
- Asia-Pacific
- Oceania
- Japan
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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