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The lactose global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Lactose Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Lactose Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Lactose Market Overview
Market Drivers –
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.
Market Trends –
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 lactose market covered in this report is segmented –
1) By Form: Powder, Granule
2) By Purity: Crude Lactose, Edible Lactose, Refined-Edible Grade Lactose
3) By Color: Yellow, Pale-Yellow To White, White
4) By End-Use: Food And Beverages, Confectionery, Animal Feed, Pharmaceutical, Cosmetics, Other End-Users
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Regional Insights –
North America was the largest region in the lactose market in 2023. The regions covered in the lactose market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Lactose Market Report Structure
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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