With reference to the latest market forecast report published by
Transparency Market Research, on the title 'Lactose Market: Global Industry
Analysis and Opportunity Assessment 2019-2029', revenue generated from the
global lactose market has been estimated to be
valued around US$ 1,750.7 Mn in 2019, which is projected to increase at a CAGR
of 4.4% to US$ 2,697.3 Mn in 2029, during the forecast period (2019-2029).
Target
Segments for Lactose
The
global lactose market is segmented on the basis of end use, form and region. On
the basis of end use, the lactose market is segmented into food and beverage,
pharmaceuticals, animal feed and cosmetic and personal care. The
pharmaceuticals segment is anticipated to account for a value share of 45.5% in
the year 2019 owing to functional and physiological characteristics. The food
and beverage segment is further sub segmented into bakery, confectionary and
functional food. The bakery segment is anticipated to account for a value share
of 43.7% in the year 2019. On the basis of form, the lactose market is divided
into powder, and granule. The powder segment is anticipated to account for more
than 90% value share of the global lactose market.
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Target Geographies
for Lactose
The
report for the Lactose market has been segmented into North America, East Asia,
South Asia, Europe, Latin America, and Middle East & Africa. North America
constitutes 19.3% of the market share for Lactose market in the year 2019. The
region is anticipated to register a CAGR of 3.2% over the forecast period.
Lactose is gaining market traction in North America due to escalating demand
among consumers and increasing use of lactose in medical and cosmetic industry.
Manufacturers
of lactose products are expected to face an ease in the marketing their
products in the region, owing to the mature consumer base present in this
region for lactose induced products. The new offerings in the lactose product
segment are expected to get easily adopted by consumers. This is aligned with
the increasing demand for processed lactose dairy product offerings, and
offerings other than milk and yogurt in the region over the last few years.
Also, well-established supermarkets and other retail chains are expected to
increase the penetration of lactose products in the region, which, with the
mature market for lactose products, is attributed to be driving the lactose
market in the region throughout the forecast period.
TMR has
profiled the most prominent companies which are active in the global Lactose
market, such as Agropur Inc. (Agropur Cooperative), Alpavit Käserei Champignon
Hofmeister GmbH & Co. KG, Armor Pharma (Savencia SA), Avantor, Inc., Biofac
A/S (Zeria Pharmaceutical Co., Ltd.), Hilmar Ingredients Inc. (division of
Hilmar Cheese Company), Hoogwegt Groep B.V., Arla Foods amba, Ba'emek Advanced
Technologies Ltd (Tnuva Group) (Tnuva Food Industries - Israel Agricultural
Cooperative Society ltd.), Lactose (India) Limited, Meggle Group, Milei GmbH ( Moringa
Milk Industry), Proliant Inc., Saputo Inc., Tatua Co-operative Dairy Company
Ltd., BASF SE, Danisco A/S. (DuPont Nutrition & Health), Merck KgaA,
Fonterra Co-Operative Group and Glanbia plc among others.
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Global
Lactose Market: Competition Dashboard
Key
Activities by Major Players of Lactose Market:
·
In
December 2018, the Zeria Pharmaceutical Co., Ltd. through its subsidiary
launched launch of TP05 Mesalazine in Europe.
·
In April
2019, Hilmar Cheese Company, Inc. entered into an agreement to sell its milk
powder facility located at Turlock, California to California Dairies, Inc.
·
In March
2019, Meggle Group announced launching of lactose-based pharmaceutical
excipient at an upcoming CPhI South East Asia expo.
·
In 12
March, 2019, Tnuva Food Industries Ltd. announced the launch of a startup
accelerator program. The program is focusing on retail technologies.
·
In April
2018, General Mills Inc. completed acquisition of Blue Buffalo Pet Products,
Inc. The acquisition has expanded company’s business in wholesome natural pet
food category.
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