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CHEMICALS AND ADVANCED MATERIALS

Lactose Market Analysis by Form (Powder, and Granule); by Derivative (Galactose, Lactose Monohydrate, Lactulose, Lactitol, and Others); by Purity (Edible, Crude, and Refined Edible); and by End-User (Food & Beverages, Functional Foods, Confectionery, Animal Feed, Pharmaceutical, Cosmetics & Personal Care, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Kerry Group plc has entered an agreement with Kraft Heinz to acquire its B2B powdered cheese business and related assets for USD 107.5 million. As a result of this acquisition, Kerry is expected to increase its scale, manufacturing capability, and customer base in the snacking category.

  • Fonterra Co-operative Group Limited has welcomed the Milk-E, New Zealand's first ever electric milk tanker. Fonterra's Milk-E program is one of a number of programs supporting the Co-op's efforts toward being a leader in sustainability through fleet decarbonization.

Global Lactose Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2033)

~ USD 7 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global lactose market is estimated to garner a revenue of ~USD 7 billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2 billion in the year 2022. The growth of the market is primarily attributed to the significantly rising demand of lactose on a worldwide level in various industries. For instance, as of 2022, lactose demand has increased significantly over the last decade, and the lactose industry has developed accordingly, particularly in the United States and Europe. The global production is estimated to be around 510 000 tons, with an upward trend continuing. Besides this, the significant growth in pharmaceutical industry is another major factor which id driving the growth of the lactose market over the projected time frame.

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Lactose is one of the significant ingredients in the production of infant formula. Thus, the rising demand for infant formula around the world is a significant driver of the growth of lactose market over the forecast period. For instance, in the United States, nearly 8.30 million individual used liquid or powdered infant formula in 2020. Furthermore, the increase in R&D efforts and new product releases by the major competitors, as well as the growth in health awareness among consumers, are projected to provide new opportunities for the lactose market throughout the forecast period.

Global Lactose Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Awareness About the Benefits of Consuming Lactose - Lactose is a sugar present in milk that provides energy as well as a number of other health benefits. Now people are getting more aware regarding the benefits of lactose and adding the required amount of lactose in their food or dietary supplements. For instance, lactose has a number of nutritional advantages that other sugar sources do not have. It provides a sustained energy supply in the body owing to slow hydrolysis, increases mineral absorption such as calcium, magnesium, and zinc, and adds value to a healthy intestinal flora by stimulating the growth of beneficial intestinal bacteria such as bifidobacteria and lactobacilli.

  • Growing Consumption of Dietary supplements – As per a survey, in mainland China, approximately 58% of people consumed dietary supplements as of March 2022.

  • Escalating Growth in Pharmaceutical Industry – For instance, the valuation of pharmaceutical industry in the United States was reached around USD 2.5 trillion as of November 2021, whereas the value in China was around USD 842 billion.

  • Growing Skincare Industry - Globally, the skincare industry has reached nearly USD 163 billion by the first half of 2022.

  • Rising Expenditure in Research and Development – As per the World Bank, globally, the research and development expenditure increased significantly between 2018 and 2020, rising from 2.2% of GDP in 2018 to 2.63% of GDP in 2020.

Challenges

  • Surge in Lactose Intolerance Cases - The increasing number of lactose-intolerant persons affects the demand for lactose-based products as several people are unable to digest lactose-based products, which cause a variety of disorders such as diarrhea, bloating, and others. For instance, approximately 68% of people worldwide are lactose intolerant.

  • High Cost of Refined Edible Grade Lactose

  • Convenient Access to The Alternative Sources of Lactose

The global lactose market is segmented and analyzed for demand and supply by end-user into food & beverages, functional foods, confectionery, animal feed, pharmaceutical, cosmetics & personal care, and others. Out of these, the food & beverage segment is anticipated to hold the largest share over the forecast period on the back of the significant growth of food & beverage industry, and growing implementation of lactose in production of numerous food items and beverages such as edible creams, and calcium-fortified beverages. It was observed that the food and beverage industry in the United States was garnered around USD 997 billion in 2020. Moreover, escalating consumption of processed foods is another significant factor which is boosting the growth of the lactose market over the forecast period.

Global Lactose Market Regional Synopsis

The North America lactose market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033 backed by the presence of significant key manufacturers, along with the growing food and beverage industry, and the increasing demand for confectionary items such as chocolates, candies, and other products in the region. For instance, around more than 4.8 billion units of chocolate candy were sold in the United states in 2021.

Market Segmentation

Our in-depth analysis of the global lactose market includes the following segments:

         By Form

  • Powder
  • Granule

         By Derivative

  • Galactose
  • Lactose Monohydrate
  • Lactulose
  • Lactitol
  • Others

         By Purity

  • Edible
  • Crude
  • Refined Edible

 

 

        By End-User

  • Food & Beverages
  • Functional Foods
  • Confectionery
  • Animal Feed
  • Pharmaceutical
  • Cosmetics & Personal Care
  • Others

Top Featured Companies Dominating the Global Lactose Market

  • DuPont de Nemours, Inc.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Fonterra Co-operative Group Limited
  • Glanbia plc
  • Merck KGaA
  • Agropur cooperative
  • Arla Foods amba
  • Lactalis Group
  • Kerry Group plc
  • Lactose India Limited
  • MILEI GmbH

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