Press release
Lactose Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Kerry Group, Saputo Inc., Lactalis Ingredients, Leprino Foods Company, Glanbia PLC., Lactose India Ltd., Davisco Foods International Inc
Lactose Market Size
The Business Research Company offers in-depth market insights through Lactose Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The lactose market size has grown steadily in recent years. It will grow from $1.31 billion in 2023 to $1.36 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to increased consumption of dairy products worldwide, growth in the global food and beverage industry, demand for infant formula and nutritional supplements, expansion of the pharmaceutical and pharmaceutical excipients industry, rise in health awareness and nutritional awareness.
The lactose market size is expected to see steady growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to increasing use of lactose in pet food formulations, rising prevalence of lactose-free and dairy-free products, demand for low-fodmap and gut-friendly ingredients, emergence of niche applications in cosmetics and personal care, expansion of lactose market in emerging economies. Major trends in the forecast period include lactose in cosmetics and personal care products, high purity and pharmaceutical-grade lactose, lactose in animal feed formulations, instantized lactose for quick dissolution, customized lactose blends.
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Market Segmentation:
The different forms of lactose are powder and granule. Lactose powder is used as a sweetener or stabilizer in the food and pharmaceutical sectors. The powder lactose is dry in form and usually white or pale yellow with a slightly sweet taste and smell of milk. The different purity types include crude lactose, edible lactose, refined-edible grade lactose and is in yellow, pale-yellow to white, white color. Lactose is used in various sectors such as food and beverages, confectionery, animal feed, pharmaceutical, cosmetics, others.
Major Driver - Increasing Dairy Production To Drive Market Growth
The rising dairy production is expected to propel the growth of lactose market going forward. Dairy production refers to the farming and processing of milk and milk-related products, typically from animals such as cows, goats, or sheep. Increased dairy production leads to a higher availability of raw milk, resulting in a greater supply of lactose as a byproduct. Additionally, the boost in dairy production results in more lactose byproducts, making lactose more affordable, and stimulating its use in various industries, including food and non-food sectors. For instance, in November 2022, according to Eurostat, a Luxembourg-based government agency of the European Union, in 2021, raw milk production on farms in the European Union (EU) reached an estimated 161.0 million tonnes, indicating a year-on-year growth of 0.7 million tonnes. Therefore, the rising dairy production is driving the growth of lactose market.
Competitive Landscape:
Major companies operating in the lactose market include Kerry Group, Saputo Inc., Lactalis Ingredients, Leprino Foods Company, Glanbia PLC., Lactose India Ltd., Davisco Foods International Inc., DMK Deutsches Milchkontor GmbH, Molkerei MEGGLE Wasserburg GmbH & Co. KG, Royal FrieslandCampina NV, FrieslandCampina, Armor Proteines, Bayerische Milchindustrie eG, Milei GmbH, Fonterra Co-operative Group, Agropur Cooperative, Nestle SA, Danone SA, Dairy Farmers of America Inc., Arla Foods amba, Gujarat Co-operative Milk Marketing Federation Ltd., Inner Mongolia Yili Industrial Group Co Ltd., Ba'emek Advanced Technologies Ltd., Hilmar Cheese Company, Avantor Inc., Danone North America Inc., Kraft Heinz Company, Glanbia Plc, Foremost Farms USA, Erie Foods International Inc.
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Top Trend - Strategic Collaborations Fueling Lactose Market Growth
Strategic collaborations are a key trend gaining popularity in the lactose market. Major companies operating in the lactose sector are focused on strategic collaborations to expand their product portfolio. For instance, in Februaryurary 2022, Nestlé S.A. is a Switzerland-based multinational food and drink processing conglomerate corporation collobrated with Valio Ltd., a Finland-based manufacturer of dairy products to enhance its portfolio in premium dairy products. Additionally, in October 2021, Lactalis Corporation, is a France-based multinational dairy products acquired Bel Group for an undisclosed amount. Through this acquisition, Lactalis plans to expand its capacity in dairy, fruit and plant-based products. Bel Group is a France-based company operating in chesse making.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lactose Market Characteristics
3. Lactose Market Trends And Strategies
4. Lactose Market - Macro Economic Scenario
5. Lactose Market Size And Growth
…..
27. Lactose Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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