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.
According to the Food Industry Association, pescatarian, flexitarian, vegan, or vegetarian diets are practised in about 30% of all households. This research opens up new prospects for butter made from plants. As consumers appreciate natural products with obvious labels, plant-based butter is becoming more and more popular, which has spurred dairy manufacturers to investigate and create vegan alternatives.
The lactose sector is steadily growing as a result of its widespread use in the food and medicinal industries. Since lactose is a necessary ingredient in many products, such as dairy-based foods, infant formula, and pharmaceutical tablets, the market for this substance is still robust. The market’s growth is being fueled by expanding populations, urbanisation, and rising disposable incomes in emerging economies.
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Hundreds of supply shortage incidents have been reported in recent years, prompting the establishment of new technology manufacturing facilities, which will increase production capacity and close the supply-demand gap. The continual expansion of production facilities using new technologies accelerates lactose consumption and is likely to lead to global market growth.
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.
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- 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 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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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