Global Galactose Market will be worth US$ 10.0 billion by 2030, growing at a 9.8% CAGR during the forecast period
Category: Chemicals & Materials Published Date : June 2022 ID: CVC-00130-CH Format: PDF Pages: 302
Galactose Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Galactose Market was worth US$ 27.4 Bn and is expected to grow at a CAGR of 5.5% over the forecast period. The market is expected to hit US$ 42.1 Bn by 2030 end.
Galactose is an important component in biological and food studies since it is used as an energy source by many pathogens. Galactose is also utilized in clinical studies to study diseases such as hepatitis C, hepatitis cancer, and diabetes.
What are the causes driving the rise in demand for Galactose?
Increasing galactose applications in different end-use sectors such as pharmaceutical, food and beverage, health and personal care, cosmetics, and nutritional supplements are expected to drive market expansion in the future years.
Companies in the global galactose market are working to implement new and improved methods of producing plant-based Galactose. The development of innovative galactose manufacturing processes is expected to push the industry during the forecast period.
What are the opportunities in the Galactose Market?
Growing demand for clean labels and certified food & beverage items is expected to drive galactose sales. Galactose aids in the prevention of stroke, obesity, and cancer, which will drive up demand throughout the forecast period.
Growing consumer health consciousness drives demand for natural food components, resulting in increased sales of plant-derived Galactose.
Why is Plant-derived galactose expected to grow at the fastest CAGR?
Plant-derived sugar source is expected to account for approximately 75% of the total galactose market share in 2030. The growing desire for natural and healthful culinary ingredients encourages manufacturers to add plant-derived sugars, which drives sales. Plant-derived galactose provides rapid energy and aids in treating numerous neuron-related disorders.
Why is Food & Beverage segment likely to grow the most rapidly throughout the forecast period?
Galactose applications in the food & beverage industries make up most of its market. Galactose sales in the food business will exceed $2.9 billion by 2030.
Its consumption in the food business is expected to rise at a 4.7% CAGR until 2030. Growing customer desire for healthy food items leads to more galactose use in the food and beverage industry.
Galactose is non-GMO, gluten-free, and low-calorie, winning people’s trust and increasing galactose sales in the food and beverage business.
Why is the Personal Care segment cementing its global dominance in the Galactose Market?
Galactose is highly anti-inflammatory and probiotic, making it perfect for exfoliating and nourishing skincare products. Galactose is a chemical exfoliant that belongs to the PHA family.
Galactose also aids in the reduction of the appearance of dark spots and hyperpigmentation, and unlike other chemical acids like AHAs, it does not increase sun exposure. The product has antioxidant capabilities when swallowed and applied topically to the skin, which implies it can counter the impact of increased vulnerability to damaging free radicals, such as pollution, climate, central heating, and UV exposure. The product is useful for persons who have sensitive skin or other skin disorders.
Why is D-Galactose regarded as the most health-promoting sugar?
The benefits of D-galactose, such as increased calcium assimilation and absorption, faster wound healing, reduced inflammation, and avoidance of eye cataracts, are pushing its usage in the food and beverage, pharmaceutical, and personal care industries.
Why is North America such a significant market for Galactose??
Total galactose sales in North America are estimated to increase significantly through the forecast period. Because of the booming health-conscious population in North America, the demand for Galactose is growing tremendously.
Sales of plant-derived sugar are expanding in the region, owing to an increasing vegan population. The growth of the food and beverage industry in North America is increasing the potential for Galactose.
Which country has promising opportunities in the North American Galactose market?
In 2021, the United States accounted for more than 78% of the galactose market in North America. Galactose sales in the United States are expected to account for the majority of demand in the North American market by 2030, growing at a 3.3% CAGR.
Leading players in the global galactose market are spending on R&D to introduce new goods and services to the market. Furthermore, manufacturers are developing strategic collaborations with end-users and regional distributors to increase consumer demand.
A list of some of the critical suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Galactose Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Souce, Product Type, Form, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|