Lactose Market size is estimated to reach USD 7 billion by the end of 2033, growing at a CAGR of 7% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of lactose was over USD 2 billion. 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.
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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 2 Billion |
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Forecast Year Market Size (2033) |
~ USD 7 Billion |
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Regional Scope |
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End-user (Food & Beverages, Functional Foods, Confectionery, Animal Feed, Pharmaceutical, Cosmetics & Personal Care)
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.
Our in-depth analysis of the global market includes the following segments:
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By Form |
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By Derivative |
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By Purity |
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By End-User |
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North American Market Forecast
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.
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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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