MarketResearchFuture.com published a Half-Cooked research report on “Global Lactose Intolerance Treatment Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
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Considering all these factors the market for lactose intolerance treatment is expected to reach $ 9.4 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 7.2 % during 2017-2023.
The recent market developments has necessitated a ‘see through’ approach so as to avoid the slippery slope generated by the changing paradigms resulting from the powerful forces of economy, business models, competition and others. “Market Research future” presents its latest report titled “World Lactose Intolerance Treatment Market –forecast till 2023” to help clear the blur resulting from these developments and to give the reader a clear picture of the possibilities and nuisances lying ahead!
Global Lactose Intolerance Treatment Market – Key Players:
Johnson & Johnson Services, Inc. (U.S.), Daiya Foods Inc. (Canada), Arla Foods (Denmark), OMIRA GmbH (Germany), National Enzyme Company(U.S.), Vetbiochem India Private Limited (India), Scimera Partners (U.S.), Ganeden Biotech (U.S.), Parmalat (Italy), Valio (Finland) are some of the prominent players at the forefront of competition in the Global Lactose Intolerance Treatment Market and are profiled in MRFR Analysis.
Global Lactose Intolerance Treatment Market – Overview:
Lactose intolerance is a common digestive problem which causes symptoms such as abdominal pain, bloating, diarrhea, gas, nausea etc. due to the decreased ability to digest the sugar lactose in milk products. This problem is caused due to the lack of enzyme lactase which breaks lactose into glucose and galactose. This condition can develop at any age. In various cases, it first develops in people aged 20 to 40, although babies and young children can also be affected. There is two type of lactose intolerance. The primary lactose intolerance is caused due to fall in the amount of lactase with age while secondary lactose intolerance is caused due to injury to the small intestine such as infections, celiac disease, inflammatory bowel disease etc.
Plant-based milk such as soy milk, rice milk, coconut milk, oat milk, etc. are inherently lactose-free. Low-lactose or lactose-free versions of foods supplements are used for those patients who have high lactose intolerance. Patients with little or no lactase enzyme can be supplemented by artificially produced from microbes of genus Aspergillus. The enzyme, β-galactosidase, is used and is available over the counter in many countries.
The global lactose intolerance treatment market is growing at a CAGR of 7.2 % and is expected to show a similar trend during the forecast period. With the growing demand for the products, there has been a fall in the prices of lactose-free foods due to rising scalability and larger sales will also upsurge the market growth. The side effect of the products for lactose intolerance is a major constraint on the market. According to a recent study report published by the Market Research Future, the global lactose intolerance treatment market is expected to gain eminence over the forecast period. The market is demonstrated to grow with a steady growth rate by 2023, surpassing its previous growth rate in terms of value, and it is expected to grow with a constant CAGR during the anticipated period (2017 – 2023).
The market is mainly compelled by a rise in awareness and larger screening rates in the world and especially in the developed regions of the globe like North America and Europe. The approximate number of people with lactose intolerance is unknown but it is expected that about 65% of the world population is suffering from lactate intolerance all around the globe. It is also estimated that lactate intolerance rates vary from less than 10% in Northern Europe to as high as 95% in parts of Asia and Africa. Moreover, In the UK, lactose intolerance is more common in people of Asian or African-Caribbean descent.
Global Lactose Intolerance Treatment Market – Competitive Analysis:
The market for lactose intolerance treatment is characterized by the presence of several well-established and small players, the global market for lactose intolerance treatment appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing increased competition which is expected to get more intense during the forecast period. Moreover, the companies are entering into various acquisitions and distribution agreements to expand their product portfolio and market share.
For instance, in December 2014, Ganeden Biotech has entered into a distribution agreement with Saporiti S.A. for the distribution of its probiotics products in South American countries. This distribution agreement will cover countries like Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, and Venezuela. This has the company to expand its services in the South American market.
Moreover, companies are entering into acquisitions to extend their product portfolios. For instance, in May 2017, Parmalat S.p.A. acquired two companies operating in the dairy sector in the United States of America. This will help the Parmalat Group to acquire an important business active in the ethnic specialties segment in the United States. Due to the presence of large populations with unmet needs is the strongest driver of growth in these market. Thus, there is larger potential to grow in the developing regions due to less competition.
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