The global lactose market size is projected to reach USD 1.53 billion by 2026, thereby exhibiting a CAGR of 3.7% during the forecast period. The market was valued at USD 1.19 billion in 2018. This information is published in a report by Fortune Business Insights, titled, “Lactose Market Size, Share Trends & Industry Analysis, By Purity (Crude Lactose, Edible Lactose, and Refined-edible Grade Lactose), By Color (Yellow Lactose, Pale-yellow to White Lactose, and White Lactose), By Applications (Food, Feed, Infant Formula, and Pharmaceuticals), and Regional Forecast, 2019-2026.” The report further mentions that the market is likely to gain momentum from the rising application of lactose in various industries, namely, food and beverages and feed. It is also used in the making confectioneries, bakery products, and creams.
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Usage of Lactose in Making Sports Drinks Will Drive Market Growth
The sports and dietary supplements industry is growing at a sizeable rate all over the world. It is occurring because of the rising participation of the populaces in active and recreational sports. Also, increasing number of organized sports is contributing to the growth of this industry. The regional governments as well as non-profit organizations are also taking various initiatives to increase the awareness about health, fitness, and personal well-being amongst the masses. This is resulting in the rising demand for clinical and sports nutrition products. In the food industry, lactose is experiencing high demand owing to its clinically proven health benefits and other physical properties that are making it the perfect ingredient for making sports drinks. It is expected to boost the lactose market growth during the forecast period.
Fortune Business Insights lists out some of the most reputed companies operating in the global lactose market. They are as follows:
- Kerry Inc.
- MILEI GmbH
- FrieslandCampina
- LACTALIS Ingredients
- Glanbia Plc.
- Lactose (India) Limited
- Fonterra Co-operative Group
- Arla Foods Ingredients Group A/S
- Armor Proteines
- Molkerei MEGGLE Wasserburg GmbH & Co.KG
- Hilmar Cheese Company, Inc.
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North America to Showcase Astonishing Growth Stoked by High Demand for Confectionery
The market is geographically segregated into Europe, Asia Pacific, the Middle East and Africa, North America, and Latin America. Amongst these, North America had generated USD 183.7 million lactose market revenue in 2018. The American Dairy Association mentioned that in 2018, the U.S. consumed around 150,000 tons of infant formula out of the total consumption of 2.5 million tons. In the U.S., there is also a rising demand for refined-edible grade lactose from the pharmaceutical industry. Moreover, increasing demand for confectionery and other food products would also drive the lactose market value in this region.
Highlights of the Report
- Elaborate information regarding the lactose market trends, growth drivers, hindrances, opportunities, and other related challenges.
- In-depth analysis of the competitive landscape consisting of joint ventures, new product launches, innovations, mergers and acquisitions, and agreements.
- Market size in terms of both value and volume.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of Application of Lactose: By Color
- Production Share of Lactose, By Region, 2018
- Price Comparison (US$, Per Ton): By Grade (Crude Lactose, Edible Lactose, Refined-edible Lactose), 2018
- Overview of Application of Lactose: By Grade
- Price Comparison (US$, Per Ton): By Color (White, Pale-Yellow to White, Yellow)
- Price Comparison (US$, Per Ton): By Application (Feed, Food, Infant Formula, Pharmaceutical), 2018
- USDA Average Prices, Lactose, 2019
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