Pune, India, May 16, 2022 (GLOBE NEWSWIRE) -- The global Lactose Market size was pegged at USD 2.22 billion in 2021. The market is estimated to gain traction from USD 2.32 billion in 2022 to USD 3.00 billion by 2029 at 3.8% CAGR during the forecast period. Fortune Business Insights™ has elucidated these insights in its latest research report titled, “Lactose Market, 2022-2029.”
According to the analysis, rising penetration of the pharmaceutical sector will augur well for the industry outlook. Pharmaceutical and infant formula manufacturing companies have upped their focus on refined-edible grade lactose. With the demand for dry-blend infant grade lactose gaining an uptick, stakeholders are likely to up their investments in the landscape.
Key Industry Development:
- July 2021– Saputo Inc. acquired Wensleydale Dairy Products’ activities to bolster its cheese manufacturing capacity and expand its brand position.
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|Forecast Period 2022 to 2029 CAGR||3.8%|
|2029 Value Projection||USD 3.00 billion|
|Product Analytics Market Size in 2022||USD 2.32 billion|
|Historical Data for||2018-2020|
|No. of Pages||163|
|Segments covered||By Application , Color, Purity and Country/Region|
|Product Analytics Market Growth Drivers||A significant increase in the demand for lactose from developing countries is fueling its demand and adoption, further supporting the market growth during the forecast period.|
|This high growth in the pharmaceutical industry is projected to fuel the demand for lactose, which assists in the compressibility and flowability of the drug molecules while formulating drugs|
Drivers and Restraints
Soaring Demand for Infant-Grade Food to Usher in Innovations
Stakeholders expect the lactose market share to gain impetus during the forecast period, largely due to the surging demand for infant formula. Moreover, dipping breastfeeding rates in advanced economies could add fillip to the industry growth. End-users are likely to exhibit demand for infant-grade lactose following the shift in living standards amidst economic growth. The pharmaceutical sector could be the major recipient of infant formula products.
Panic-buying in 2020 Led to Supply Chain Disruptions
Although the ravage of the COVID-19 pandemic was pronounced in most industries, the dairy sector exhibited resilience. The trend was majorly attributed to dairy foods categorized under “essential goods/foods” in most countries. Panic buying in advanced and emerging economies led to a surge in the demand for the dairy product. Prominently, the Global Dairy Trade trading platform witnessed a rise in the number of lactose bidders during the 2020 auction. Moreover, stocking up on essential materials also led to a rise in prices.
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Asia Pacific to Provide Compelling Opportunities with Buoyant Demand from Pharmaceutical Sector
Emerging economies are likely to spearhead the Asia Pacific market forecast that is likely to be strong in the ensuing period. Strategic expansion and surging manufacturing of infant formula will add impetus to the regional growth. To illustrate, in September 2021, Olam Food Ingredients expressed its contemplation of developing a new dairy processing plant in New Zealand. The company anticipated it would help them expand their manufacturing network globally to produce high-value dairy ingredients.
The Europe market outlook will be strong on the back of the presence of leading companies across Germany, Italy, the U.K., and France. Besides, the surging consumption of infant formula will encourage leading companies to expand their footprint. Stakeholders will also receive an uptick with a surge in glucose manufacturing and production.
- Based on application, Lactose Market is segmented into feed, food, pharmaceuticals, and infant formula.
- In terms of color, the market is segregated into pale-yellow to white, yellow, and white.
- With respect to geography, the market is fragmented into Europe, North America, Asia Pacific, and the rest of the world.
Quick Buy - Lactose Market:
The Lactose Market report offers a comprehensive perspective of the market size, share, revenue, and volume. It has also delved into Porters’ Five Force analysis and SWOT analysis. Quantitative and qualitative assessments have been used to provide a holistic view of the market. The primary interviews validate assumptions, findings and the prevailing business scenarios. The report also includes secondary resources, such as annual reports, press releases, white papers and journals.
Major Players Focus on Brand Positioning to Expand Footprint
Leading companies are likely to invest in technological advancements, mergers & acquisitions, product rollouts, and R&D activities. Moreover, focusing on product offerings could foster a geographical footprint over the next few years.
Major Players Profiled in the Lactose Market Report:
• Fonterra Co-operative Group (New Zealand)
• FrieslandCampina Ingredients (Netherlands)
• DFE Pharma(Germany)
• Arla Foods Ingredients P/S (Denmark)
• MEGGLE GmbH & Co. KG (Germany)
• MILEI GmbH (Germany)
• Lactose (India) Limited (India)
• Hilmar Cheese Company, Inc. (U.S.)
• Kerry (Ireland)
• Käserei Champignon Hofmeister GmbH & Co. KG (ALPAVIT) (Germany)
• Armor Proteines (SAVENCIA SA) (France)
• Glanbia PLC (Ireland)
• Lactalis International (France)
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Major Points of Table:
- Research Scope
- Market Segmentation
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Key Insights
- Pricing Analysis, By Key Regions, 2021
- Price Comparison (USD Per Ton) By Purity (Crude Lactose, Edible Lactose, Refined Edible Lactose), 2020/2021
- Price Comparison (USD Per Ton): By Color (White, Pale-Yellow to White, Yellow), 2020/2021
- Price Comparison (USD, Per Ton): By Application (Feed, Food, Infant Formula (dry-blend), Infant formula (wet-blend), Pharmaceutical), 2020/2021
- U.S.D.A and G.D.T Average Prices, Lactose, 2021
- Impact of COVID-19 on the Lactose Market
- Production Share of Lactose, By Region, 2021
- Key Industry Developments
- Global Lactose Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Application
- Infant Formula
- Market Analysis, Insights and Forecast – By Color
- Pale-Yellow to White
- Market Analysis, Insights and Forecast – By Purity
- Refined Edible
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Rest of World
- Market Analysis, Insights and Forecast – By Application
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