Global Lactose Market Size To Worth USD 7.41 Billion By 2033 | CAGR of 9.5%
Category: Food & BeveragesGlobal Lactose Market Size To Worth USD 7.41 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Lactose Market Size is to grow from USD 2.99 Billion in 2023 to USD 7.41 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 9.5% during the projected period.
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Browse key industry insights spread across 200 pages with 120 Market data tables and figures & & charts from the report on the "Global Lactose Market Size, Share, and COVID-19 Impact Analysis, By Type (Monohydrate, Anhydrous, Galactose, Lactulose, Tagatose), By Application (Food, Feed, Pharmaceuticals, Infant), By Color (Yellow, Pale-Yellow to White, White), By Purity (Crude, Edible, Refined Edible), By End-user (Food & Beverages, Functional Foods, Confectionery, Animal Feed, Pharmaceutical, Cosmetics & Personal Care), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/lactose-market
Lactose is a disaccharide sugar that is present in milk and yields glucose and galactose. Lactose is a by-product of cheese. It is taken out during the manufacturing process from liquid whey. Utilized in several industries, it is among the most significant dairy ingredients in terms of commerce. Though it is also used in the food sector to manufacture creams, baked products, and confectioneries, its main application in the feed industry is as an ingredient for pig feed. Utilized as excipients in pharmaceutical laboratories throughout the tablet formulation process. Additionally, it is widely used in the pharmaceutical sector as an excipient in the manufacturing of infant formula. Also, lactose is used in the cream, fresh cheeses, and yogurt contain lactose. Demand for baked goods, candies, creams, and other products is rising, and the pharmaceutical business is supporting this sector's growth. The global lactose market is experiencing significant growth due to rising demand for new born formula, declining breastfeeding rates, and technological advancements in dairy processing and production, enabling cost-effective and sustainable production. However, most feed manufacturers are using substitutes like maltodextrins, molasses, table sugar, and dextrose due to high costs and limited availability. Hence, lactose intolerant individuals are restricting their use, impacting the global lactose market growth.
The monohydrate segment is anticipated to hold the greatest share of the global lactose market during the projected timeframe.
On the basis of type, the global lactose market is divided into monohydrate, anhydrous, galactose, lactulose, and tagatose. Among these, the monohydrate segment is anticipated to hold the greatest share of the global lactose market during the projected timeframe. The growth can be attributed to pharmaceutical excipients such as lactose monohydrates are commonly used in the formulation of tablets and capsules.
The food segment is anticipated to grow at the fastest pace in the global lactose market during the projected timeframe.
On the basis of application, the global lactose market is divided into food, feed, pharmaceuticals, and infant. Among these, the food segment is anticipated to grow at the fastest pace in the global lactose market during the projected timeframe. The segmental growth can be attributed to the growing demand for dairy product standardization by the food industry. The lactose food demand has increased because of daily used products like milk, cheese, butter, etc.
The pale-yellow to white segment is predicted to grow at the highest pace in the global lactose market during the estimated period.
On the basis of color, the global lactose market is divided into yellow, pale-yellow to white, and white. Among these, the pale-yellow to white segment is predicted to grow at the highest pace in the global lactose market during the estimated period. The pale-yellow to white lactose from the food sectors, which play a significant role in boosting the amount of nutrients from developed and developing economies that are used in new born formula.
The refined edible segment is predicted to grow at the highest pace in the global lactose market during the estimated period.
On the basis of purity, the global lactose market is divided into crude, edible, and refined edible. Among these, the refined edible segment is predicted to grow at the highest pace in the global lactose market during the estimated period. The segmental growth can be attributed to the production of infant formula and pharmaceutical products are primarily utilize refined food.
The food & beverages segment is predicted to grow at the highest pace in the global lactose market during the estimated period.
On the basis of end-user, the global lactose market is divided into food & beverages, functional foods, confectionery, animal feed, pharmaceuticals, cosmetics & personal care. Among these, the food & beverages segment is predicted to grow at the highest pace in the global lactose market during the estimated period. The segmental growth can be attributed to the significant growth of the food and beverage sector and the growing application of lactose in the production of various food and beverage products, such as calcium-fortified beverages and edible creams.
Asia-Pacific is expected to hold the largest share of the global lactose market over the forecast period.
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Asia-Pacific is expected to hold the largest share of the global lactose market over the forecast period. The demand for propelling market growth is increased by the presence of market players who are expanding the pharmaceutical and infant formula manufacturing industries in Asian countries. Product safety and quality are guaranteed by the region's large output of raw milk, customers' growing desire for premium dairy products, and adequate industry regulation. The lactose market is expected to rise over the forecast period due to product innovation, development in several application sectors, and overall market expansion.
Europe is predicted to grow at the fastest pace in the global lactose market during the projected timeframe. The growing usage of infant formula across Europe, the growing food sector, and the well-established dairy industry are expected to drive market expansion in the Europe area.
Major vendors in the global lactose market include Fonterra Co-operative Group, MILEI GmbH (Morinaga Milk Industry CO., LTD., Kerry Group plc., Käserei Champignon Hofmeister GmbH & Co. KG, Armor Proteins, Glanbia PLC, Milk Specialties Global, Saputo Inc., Arla Foods Ingredients Group P/S, MEGGLE GmbH & Co. KG, Lactose Limited, Friesl and Campina, DFE Pharma, Hilmar Cheese Company, Inc., Lactalis International, Others.
Recent Developments
- In March 2022, Arla Foods Ingredients Group P/S established two new products in its organic sector Lacroprodan and premium lactose organic, with an objective to expand its product portfolio.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global lactose market based on the below-mentioned segments:
Global Lactose Market, By Type
- Monohydrate
- Anhydrous
- Galactose
- Lactulose
- Tagatose
Global Lactose Market, By Application
- Food
- Feed
- Pharmaceuticals
- Infant
Global Lactose Market, By Color
- Yellow
- Pale-Yellow to White
- White
Global Lactose Market, By Purity
- Crude
- Edible
- Refined Edible
Global Lactose Market, By End-user
- Food & Beverages
- Functional Foods
- Confectionery
- Animal Feed
- Pharmaceutical
- Cosmetics & Personal Care
Global Lactose Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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