The global lactose market size is projected to reach USD 1.53 billion by 2026, thereby exhibiting a CAGR of 3.7% during the forecast period. The market was valued at USD 1.19 billion in 2018. This information is published in a report by Fortune Business Insights, titled, “Lactose Market Size, Share Trends & Industry Analysis, By Purity (Crude Lactose, Edible Lactose, and Refined-edible Grade Lactose), By Color (Yellow Lactose, Pale-yellow to White Lactose, and White Lactose), By Applications (Food, Feed, Infant Formula, and Pharmaceuticals), and Regional Forecast, 2019-2026.” The report further mentions that the market is likely to gain momentum from the rising application of lactose in various industries, namely, food and beverages and feed. It is also used in the making of confectioneries, bakery products, and creams.
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Highlights of the Report
- Elaborate information regarding the lactose market trends, growth drivers, hindrances, opportunities, and other related challenges.
- In-depth analysis of the competitive landscape consisting of joint ventures, new product launches, innovations, mergers and acquisitions, and agreements.
- The market size in terms of both value and volume.
Usage of Lactose in Making Sports Drinks Will Drive Market Growth
The sports and dietary supplements industry is growing at a sizeable rate all over the world. It is occurring because of the rising participation of the populace inactive and recreational sports. Also, an increasing number of organized sports is contributing to the growth of this industry. The regional governments, as well as non-profit organizations, are also taking various initiatives to increase the awareness about health, fitness, and personal well-being amongst the masses. This is resulting in the rising demand for clinical and sports nutrition products. In the food industry, lactose is experiencing high demand owing to its clinically proven health benefits and other physical properties that are making it the perfect ingredient for making sports drinks. It is expected to boost the lactose market growth during the forecast period.
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Highlights of the Report:
- In-depth analysis of various insights, namely, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
Refined-edible Grade Lactose Segment to Exhibit Immense Growth Backed by Demand from Infant Formula Industry
In terms of purity, the market is fragmented into refined-edible grade lactose, edible lactose, and crude lactose. Out of these, the edible grade lactose segment had acquired a 27.1% lactose market share in 2018. However, the refined-edible grade lactose segment had generated the highest revenue in 2018 and had led the market. It is widely used in the infant formula and pharmaceutical industries. Several prominent players are offering novel products, such as dry-blend infant-grade lactose. It is, in turn, increasing demand for refined-edible grade lactose. Additionally, these industries have set up a few strict specification requirements for this type of lactose that requires additional steps for purification. All these factors are likely to propel this segment in the coming years.
North America to Showcase Astonishing Growth Stoked by High Demand for Confectionery
The market is geographically segregated into Europe, Asia Pacific, the Middle East, Africa, North America, and Latin America. Amongst these, North America had generated USD 183.7 million lactose market revenue in 2018. The American Dairy Association mentioned that in 2018, the U.S. consumed around 150,000 tons of infant formula out of the total consumption of 2.5 million tons. In the U.S., there is also a rising demand for refined-edible grade lactose from the pharmaceutical industry. Moreover, increasing demand for confectionery and other food products would also drive the lactose market value in this region.
The Asia Pacific was in
the dominant position in the consumption of lactose in 2018. As per numerous national and regional estimates, Japan, India, and China accounted for approximately 30% to 40% of the feed production globally in the same year. China and other countries situated in this region were the leading producers of infant formula.
Fortune Business Insights lists out some of the most reputed companies operating in the global lactose market. They are as follows:
- Kerry Inc.
- MILEI GmbH
- FrieslandCampina
- LACTALIS Ingredients
- Glanbia Plc.
- Lactose (India) Limited
- Fonterra Co-operative Group
- Arla Foods Ingredients Group A/S
- Armor Proteins
- Molkerei MEGGLE Wasserburg GmbH & Co.KG
- Hilmar Cheese Company, Inc.
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Dynamics Market
- Drivers Market
- Restraints Market
- Opportunities in Market
- Key Insights
- Overview of Application of Lactose: By Color
- Production Share of Lactose, By Region, 2018
- Price Comparison (US$, Per Ton): By Grade (Crude Lactose, Edible Lactose, Refined-edible Lactose), 2018
- Overview of Application of Lactose: By Grade
- Price Comparison (US$, Per Ton): By Color (White, Pale-Yellow to White, Yellow)
- Price Comparison (US$, Per Ton): By Application (Feed, Food, Infant Formula, Pharmaceutical), 2018
- USDA Average Prices, Lactose, 2019
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