The market is expected to generate an incremental $ opportunity of US$ 17,113.1 Mn between 2022 and 2032
Category: Food & Beverages Published Date : November 2022 ID: CVC-00519 Format: PDF Pages: 300
Lactose and Derivative Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Lactose and Derivative Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 31,798.5 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.4% and is expected to reach a valuation of US$ 48,911.6 Mn by 2032 end.
Throughout the projected period, Inhalation of lactose is used in treating patients with insufficient lactase levels and with Lactose Intolerance. It is widely used in dietary supplements, dairy products such as cheese, yogurt, and other foods and liquid beverages.
CHANGING PREFERENCES FOR VARIOUS FOOD BY CUSTOMERS DRIVES THE MARKET FOR LACTOSE AND DERIVATIVE MARKET
In recent years, consumers have shifted from milk to lactose- and derivative-rich products, mainly due to economic and environmental factors. This has led manufacturers to develop innovative products for the lactose and derivative market, which cater to consumers’ increasing preferences for lactose and derivative products and the diverse demand for lactose and derivative products.
ALTERNATIVE SUBSTITUTES MAY HAMPER THE MARKET GROWTH
Alternatives to lactose and derivatives include whey protein, soy protein, rice protein, potato-based milk, and almond protein. They are less expensive than lactose products and aid in the prevention of diabetes and high blood pressure, as well as aiding in weight management. Furthermore, up to 68.0% of the global population suffers from multiple forms of lactose intolerance.
GROWING DEMAND FOR PHARMACEUTICAL PRODUCTS WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
The lactose and the derivative market is flourishing due to new products containing lactitol, galactooligosaccharides, and lactulose. These products are being created for various reasons, including postpartum nutrition for breastfeeding women and patients following abdominal surgery, control of children’s stomach develop- ing problems through limiting the number of sugars absorbed by the body, treating diabetes mellitus (previously known as juvenile diabetes), and reducing lactose intolerance. As a result, the lactose and derivative market can be expected to see the emergence of numerous opportunities for demand as well as sales.
The coronavirus has harmed the profitability of the lactose and derivative markets. This has led to social distancing tactics enacted in countries that have experienced high levels of exposure. Among the major manufacturers involved in this market, Germany and France were down 1%, while Poland was down 2.1%.
In general, this will drive up demand for lactose and derivatives as it becomes more difficult for people to avoid these illnesses. The market value might not catch up to the pre-COVID-19 value until 2027.
Market Segments Covered in Report
By Product Type:
By Region and Country:
Why are Food and Beverages projected to ensure the most revenue during the forecast period?
At 45.0% of the market, Food and Beverages had the greatest revenue share. More than ever, demand for convenience food and beverage is driving growth in this market segment. Demand from consumers looking for time-saving, high‐quality products that fit their busy schedules is helping drive revenues for whey protein powders. Furthermore, as initiatives to promote well-being and reduce health risks continue to take root internationally, demand for low-fat food products with little or no lactose content is growing. These factors are expected to support demand over the forecast period.
Which product category holds the largest market share for lactose and its derivatives worldwide?
In 2021, The Lactitol product class was led by lactitol, a sugar alcohol with 30.0–40.0% sucrose’s sweetness used as a replacement bulk sweetener for low-calorie foods. Lactitol is a common component in foods low in calories or fat. Its high stability makes it a favorite for baking. Lactitol has been used for over fifty years as an excipient for pharmaceuticals and medical products such as laxative powder, tablet binders, suspensions, chewable, and capsules.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Major corporations are utilizing organic and inorganic development tactics to strengthen their position in the market. The use of these tactics has been noticed by other companies, who now consider them a possibility for themselves.
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for
|USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
|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 Product Type, End Use, Form, and Region
|Available upon Request
|Pricing and purchase options
|Available upon Request