The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The lactose market has experienced steady growth, evolving from $1.31 billion in 2023 to an anticipated $1.36 billion in 2024, reflecting a steady compound annual growth rate (CAGR) of 3.8%. This growth in the historic period can be traced back to increased global consumption of dairy products, the expansion of the food and beverage industry, rising demand for infant formula and nutritional supplements, the flourishing pharmaceutical and pharmaceutical excipients industry, and a growing emphasis on health and nutrition.

Anticipating Steady Growth Ahead

The lactose market is poised for continuous expansion in the coming years, with a projected growth to $1.61 billion by 2028, manifesting a steady CAGR of 4.3%. This anticipated growth in the forecast period can be attributed to the increasing use of lactose in pet food formulations, a rising prevalence of lactose-free and dairy-free products, the demand for low-FODMAP and gut-friendly ingredients, the emergence of niche applications in cosmetics and personal care, and the expansion of the lactose market in emerging economies.

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Trends Shaping the Horizon

– Lactose in Cosmetics and Personal Care Products

An emerging trend in the forecast period is the utilization of lactose in cosmetics and personal care products. Lactose’s properties are harnessed for its benefits in skincare and beauty formulations.

– High Purity and Pharmaceutical-Grade Lactose

The market is witnessing a trend towards high purity and pharmaceutical-grade lactose, catering to the stringent requirements of the pharmaceutical industry and emphasizing product quality.

– Lactose in Animal Feed Formulations

The inclusion of lactose in animal feed formulations is gaining traction, contributing to the nutritional needs of animals and promoting their overall health.

– Instantized Lactose for Quick Dissolution

The demand for instantized lactose is on the rise, providing a quick-dissolving solution for various applications, enhancing convenience and usability.

– Customized Lactose Blends

The trend of customized lactose blends is emerging, allowing for tailored solutions that meet specific requirements across diverse industries.

Driving Forces: Increasing Dairy Production

The upward trajectory of dairy production is a significant driver for the growth of the lactose market. The farming and processing of milk and milk-related products contribute to a higher availability of raw milk, resulting in increased lactose supply as a byproduct. With raw milk production in the European Union reaching an estimated 161.0 million tons in 2021, the rise in dairy production fuels the affordability and utilization of lactose in various industries.

Industry Players and Innovative Strides

– Key Market Players

Major companies influencing the lactose market include Kerry Group, Saputo Inc., Lactalis Ingredients, Glanbia PLC., and many more.

– Innovations Transforming the Market

Innovations are shaping the lactose market landscape, with companies like DSM-Firmenich AG launching Maxilact Next, a lactase enzyme solution designed to enhance efficiency in lactose-free dairy production.

– Strategic Stake for Expansion

Yili Group’s strategic acquisition of a stake in Ausnutria Dairy Corporation Ltd. empowers them to expand into the infant formula and nutrition products market, showcasing strategic moves in the dairy industry.

Market Segmentation for Precision

– Form

Segmentation based on form includes powder and granule, offering diverse options for incorporating lactose in different applications.

– Purity

The market is segmented by purity, encompassing crude lactose, edible lactose, and refined-edible grade lactose, catering to varied industry standards.

– Color

Lactose is segmented by color, including yellow, pale-yellow to white, and white, providing options for applications where color plays a crucial role.

– End-Use

Segmentation by end-use covers a broad spectrum, including food and beverages, confectionery, animal feed, pharmaceuticals, cosmetics, and other end-users, reflecting the versatile applications of lactose.

Regional Dynamics

– North America’s Leading Role

In 2023, North America emerged as the largest region in the lactose market, showcasing the region’s robust participation and influence in the evolving lactose landscape.

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The Lactose Global Market Report 2024  provides comprehensive insights on the lactose market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the lactose market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Lactose-Free Dairy Global Market Report 2024

Lactose-Free Infant Formula Global Market Report 2024

Food Intolerance Products Global Market Report 2024

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