The global lactose market size is projected to reach USD 1.52 billion by 2026, thereby exhibiting a CAGR of 3.7% during the forecast period. However, 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 used the most for making confectioneries, bakery products, and creams.
Fortune Business Insights lists out some of the most reputed
companies operating in the global lactose market. They are as follows:
- MILEI GmbH
- Glanbia Plc.
- Fonterra Co-operative Group
- Armor Proteines
- FrieslandCampina
- Hilmar Cheese Company, Inc.
- Lactose (India) Limited
- Molkerei MEGGLE Wasserburg GmbH & Co.KG
- Arla Foods Ingredients Group A/S
- LACTALIS Ingredients
- Kerry Inc.
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 populaces in active
and recreational sports. Also, 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.
Read a Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/industry-reports/lactose-market-101774
REGIONAL INSIGHTS-
North America to Showcase Astonishing Growth Stoked by High Demand
for Confectionery
The market
is geographically segregated into Europe, Asia Pacific, the Middle East and
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.
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.
COMPETITIVE LANDSCAPE-
Key Players Focus on Creating Strong Distribution Networks to
Increase Sales
The lactose market consists of small, medium, and large enterprises. They are striving persistently to gain competitive edge by increasing investments in the research and development activities for the development of novel lactose. They are also creating robust distribution networks across the world. Numerous start-ups are also entering the market.
AN INDUSTRY DEVELOPMENT-
- September 2014: Arla Foods Ingredients A/S, a manufacturer of milk based ingredients, declared about the expansion of its pre-existing lactose and whey processing facility in Denmark. The expansion plan is a part of the company’s 2015 strategy. It aims to double the turnover of its whey business and enhance its supplies into the international market owing to the huge demand.
Read Press Release: https://www.fortunebusinessinsights.com/press-release/lactose-market-9436
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