The global Lactose Market is expected to be valued at USD 2,312.50 million in 2022 and is projected to reach USD 4,169.8 million in 2033. A robust CAGR worth 6% is expected for the market during the 2023 to 2033 forecast period.
The market's expansion is largely driven by the sharply increasing demand for lactose in several sectors around the globe. For instance, consumer demand for lactose has grown dramatically over the past ten years as of 2022, and the sector has grown in tandem, especially in North America and Europe.
With a continuously rising trend, the expected total production is 510 000 tons. In addition, the pharmaceutical industry's rapid expansion is another important element that will likely contribute significantly to the lactose market's growth throughout the forecast period.
Lactose is an important element in the manufacturing of baby formula. Therefore, a key factor in the growth of the lactose market during the forecast period is the increased demand for baby formula globally. For instance, in 2022, 8.55 million people in the United States consumed liquid or powdery infant formula.
It is anticipated that throughout the projection period, the leading competitors' increased R&D efforts and the introduction of new products, together with consumers' rising health consciousness, would open up new potential for the lactose market. Such varied advantages of lactose have ben thus propelling the demand of lactose market from 2023 to 2033.
| Report Attribute | Details |
|---|---|
| Estimated Market Value (2022) | USD 2,312.5 million |
| Expected Market Value (2023) | USD 2,921 million |
| Projected Forecast Value (2033) | USD 4,169.8 million |
| Anticipated Growth Rate (2023 to 2033) | 6% CAGR |
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During the historical period of 2018 to 2022, the global lactose market observed a CAGR of 3.3%. By the end of 2018, this market was valued at a sum of USD 2,028.6 million.
Sugar lactose, which is found in milk, gives energy and has many other health advantages. People now include the necessary quantity of lactose in their diets or dietary supplements as they become more aware of the advantages of lactose. For instance, alternative sugar sources lack some of the nutritional benefits that lactose does.
Due to its slow hydrolysis, it gives the body a steady source of energy. It also promotes the absorption of minerals such as magnesium, calcium, and zinc and contributes to a healthy intestinal ecosystem by encouraging the development of good bacteria like bifidobacteria as well as lactobacilli. Hence, such developments results in the growth of revenues that went beyond USD 2,300 million in 2023.
Lactose proves instrumental in promoting Good Gut Health
The sugar lactose, which is present in milk, gives energy and has many other health advantages. Magnesium, calcium, and zinc are just a few of the elements that lactose helps people absorb more readily. Compared to other sugars, its effect on tooth decay is low.
With regard to its low glycemic index, this kind of sugar could be advantageous for diabetics. A balanced gut flora is facilitated by lactose. It promotes the development of bifidobacteria as well as lactobacilli, two types of helpful gut bacteria. Additionally, it prevents harmful microbes that may lead to intestinal infections. Hence, such benefits are expected to boost the demand for Lactose in the coming years.
Increasing demand for infant formula will aid market growth
During the projection period, the industry's growth is anticipated to be aided by the increased demand for refined as well as edible grade lactose. This can be due to the strict standards for the degree of lactose purity used globally in sectors like medicines and baby formula. New developments like dry-blend and infant-grade lactose and other products are also anticipated to aid in the segment's expansion.
The increasing demand for newborn formula throughout the world is fueling the lactose business. The increase in demand for the infant formula is being driven by the diminishing rates of breastfeeding and the growing awareness of the significance of newborn nutrition.
The growing standards of life and rising disposable incomes in developing countries are greatly influencing the expansion of the business.
Along with the rising demand for baked items, confectionary, creams, and other products, the pharmaceutical industry is also contributing to the expansion of this sector. Increased R&D efforts and new product introductions by top players are anticipated to further fuel market expansion over the course of the projected period.
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Various Lactose Alternatives, lactose intolerance, and high cost will restrain the global growth
The market for lactose-based goods is impacted by the rising number of individuals who are lactose intolerant since many people lack the ability to digest lactose, which can lead to a range of illnesses like diarrhea and bloating.
For example, above 68% of people globally are lactose intolerant, which will surely hamper the growth in the global lactose market during the forecast period.
Edible grade and refined lactose is quite expensive. When the various food products are made using this kind, the price of the end products becomes quite expensive and hence losses demand.
Consumers nowadays have access to q wide range of alternatives for the lactose products. They can easily switch to other non- expensive yet equally nutritious lactose alternatives with ease. Such factors can impede the growth of the overall market for lactose.
Lactose for Pharmaceutical Applications to witness maximum uptake
During the forecast period, the pharmaceuticals segment by end-use type is expected to acquire the prominent share of almost 46% of the overall market. The healthcare along with the pharma industry have been investing hugely in various research and developments projects to make the best use of the lactose substrates.
New technologies are also being implemented to enhance the quality of products.
For instance, lactose monohydrate is a good choice for 3D printing since it is a natural, soluble, safe, compatible, non-hygroscopic additive that is generally recognised by authorities (European and United States pharmacopeia (PhEur and USP) authorized). Such factors have been propelling the segmental growth since the last few years.
Powdered Lactose to be most widely consumed
By form type, the powder form will gain popularity over the next few years. Whole milk powdered form, dairy whitener, skim milk powder, and various forms of lactose powder are some examples.
Due to its nutritional advantages, which are used in newborn formulae, baked pastries, confectionaries, and savory products, it is extensively consumed around the world.
The worldwide lactose powder market is driven by factors including the rise in the usage of milk powder in infant meals and the availability of many nutrients like vitamin C, thiamin, vitamin B12, and high levels of protein. The market for lactose powder is expanding as a result of lower storage and shipping costs.
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The United States market for Lactose will dominate the Global Market
According to Future Market Insights analysis, the North American lactose market is anticipated to have a prominent market share by 2033 among all other markets, supported by the existence of significant key companies, the expansion of the food and beverage sector, and the rising demand for confectionary goods like candies, chocolates, and various other products in the area.
As a consequence of such wide prospects for manufacturers in the United States, the market here was estimated to acquire almost 32% of the global market share in 2022. For instance, in the United States, chocolate candies were sold in excess of 4.7 billion units in 2022.
Developing nations to grow with a significant market share
Due to the rapidly rising demand for baby formula in nations like India and China, Asia Pacific is predicted to develop strongly throughout the projected period. During the historical period, China experienced a 6.7% CAGR and India experienced a 4.5% CAGR. This is explained by the presence of a sizable population, growing awareness, and enhancing living standards.
Additionally, as lactose has uses in the feed sector, particularly as a component for pig feed, the region's growing feed output is also helping the industry thrive. With such prospects in the Asia Pacific countries, the market is expected to thrive during the forecast period.
A South African firm called De Novo Dairy uses precise fermentation. The business was established by the same folks that created Gourmet Grubb, an ice cream line made with bug protein.
The key players in this market include:
Some of the recent developments by the key players in the market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6% from 2022 to 2032 |
| Market value in 2023 | USD 2,405 million |
| Market value in 2033 | USD 4,169.8 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD Million for Value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Form, End Use, Derivative Type, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled |
United States, Canada, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, Israel, GCC Countries, South Korea |
| Key Companies Profiled | BASF SE; Davisco Foods International Inc.; Armor Pharma; Hilmar Ingredients; Hoogwegt Group B.V.; Kerry Group Plc.; Lactose India Limited; Merck & Co. KgAa; Milei GmbH; Ba'emek Advanced Technologies Ltd. |
| Customization Scope | Available on Request |
The Lactose market CAGR for 2033 is 6%.
The market is valued at USD 2,921 million in 2023.
The projected market value of the market for 2033 is USD 4,169.8 million.
Key players are developing the market by investing in research and development.
BASF SE, Davisco Foods International Inc., and Armor Pharma are key market players.
1. Executive Summary | Lactose Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 5.1. Powder 5.2. Granule 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Food and Beverage 6.2. Pharmaceutical 6.3. Animal Feed 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Derivative Type 7.1. Monohydrate 7.2. Ga 7.3. Lactulose 7.4. Tagatose 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East & Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Market Structure Analysis 16. Competition Analysis 16.1. BASF SE 16.2. Davisco Foods International, Inc. 16.3. Armor Pharma 16.4. Hilmar Ingredients 16.5. Hoogwegt Group B.V. 16.6. Kerry Group Plc. 16.7. India Limited 16.8. Merck & Co. KgAa 16.9. Milei GmbH 16.10. Ba'emek Advanced Technologies Ltd 17. Assumptions & Acronyms Used 18. Research Methodology
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Lactose Market
