The healthcare industry in the past half-decade has seen an exponential rise in growth. With the rising incidence in non-communicable diseases, a demand for healthcare providers has increased. Healthcare providers have tried to keep up with the demand, however there is a huge scope for development. With awareness among the people with respect to hygiene in the past few decades, millennials and generation-Y have been given a lot of attention. This has led to the weakening of the immune system. A new wave of disorders has emerged where people have become allergic or incapable of digesting certain foods. One of the most common disorders is lactose intolerance. This is caused by the paucity of the lactase enzyme. Lactase is an enzyme present in the gut of human beings and other mammals which is utilized in the breakdown of lactose into glucose and galactose. Lactose is present in dairy products, and lactase helps in the digestion of said products. To counter this problem, lactase supplements are utilized to treat this disorder, or lactase is added to dairy products to break down lactose before consumption.
Lactase Market- Market Segmentation:
Based on the Source, the Lactasemarket is segmented into:
Based on end use, the Lactasemarket is segmented into:
- Food and Beverages
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Lactase Market- Market Dynamics:
According to few studies, there are 10-20% people are lactose intolerant in US alone. Some ethnicities harbor this problem in higher percentages. Lactose supplements are prescribed for said individuals, or lactose is added to the dairy product to break down lactose before consumption. Due to these disorders, there is avoidance of the intake of dairy products. In the long term, the avoidance of said products can lead to problems like osteoporosis. Lactase supplements are also prescribed for other problems of indigestion as well like Irritable bowel syndrome, bloating, gasses etc. With the exponential rise I h e healthcare market, we can expect to see a significant rise in CAGR for lactase market throughout the forecasted period of 2016-2026. Lactase is widely used in the dairy production. The properties of lactase help reduce the lactose content in the products while sweetening the product and reduced viscosity. These products are perfect for lactose intolerant individuals. As the food and beverages industry is witnessing a surge in growth, lactase market is also pegged to witness a healthy CAGR throughout our forecasted period of 2016-2026.
Lactase Market- Regional Outlook:
In terms of geography, the lactase market has been divided in to five key regions; North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The lactase market is expected to exhibit an above average CAGR during the forecast period. Asia Pacific region is expected to witness a high demand for lactase over the forecasted period. Highest growth is expected to be seen specifically from India and China. Significant growth will also be witness in Middle East and Africa, Eastern Europe and Latin America.
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Lactase Market- Major Players:
Some of the key players in the lactase market are Parchem fine & specialty chemicals, McNeil Nutritionals, LLC, Nutriteck, Shandong Tianjiu Bio-Tech Co., Ltd., Mitushi Biopharma, Amano Enzyme, Inc., OENON Holdings, Inc., Dumoco, Nisarg Life Sciences India Pvt. Ltd., Avanscure Lifesciences Pvt. Ltd.,