USD 2.22 billion
Global Lactose Market Size, Share, Growth Analysis, By Application(Food, Feed), By Color(Yellow, Pale-Yellow to White), By Purity(Crude, Edible) - Industry Forecast 2024-2031
Report ID:
SQSG30C2038 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
92 |
Figures:
76
Global Lactose Market Insights
Lactose Market size was valued at USD 2.22 billion in 2019 and is poised to grow from USD 2.3 billion in 2023 to USD 3.22 billion by 2031, growing at a CAGR of 3.8% in the forecast period (2024-2031).
Lactose is a byproduct of the cheese manufacturing process; it is isolated from liquid whey. Commercially, it is one of the most important dairy ingredients, with multiple applications in a variety of industries, including the food business for creams, bread items, and confectioneries, and the feed industry, primarily as an ingredient in pig feed. Furthermore, it is frequently utilized in the manufacture of infant formula and as an excipient/filler in the pharmaceutical industry. The burgeoning pharmaceutical industry in developing nations, as well as the increased use of lactose in food processing and infant formula manufacturing, is driving up global demand. Furthermore, the growing demand for food and infant-grade lactose in key dairy-producing countries has aided in the rise of the lactose industry.
US Lactose Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Yellow
Fastest Growth
Yellow
Growth Rate
3.8% CAGR
Global Lactose Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Lactose Market By Color ($ Bn)
Global Lactose Market By Color (%)
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Global Lactose Market Segmental Analysis
The global lactose market is segmented based on application, color, purity, and region. Based on the application, the lactose market is segmented into food, feed, pharmaceuticals, and infant formula (dry-blend infant-grade lactose, wet-blend infant-grade lactose). Based on the color, the lactose market is segmented into yellow, pale-yellow to white, and white. Based on the purity, the Lactose Market is segmented into crude, edible, and refined edible. Based on the region Lactose Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Lactose Market Analysis by Color
Based on the color, the lactose market is segmented into yellow, pale-yellow to white, and white. Among these, pale-yellow to white segment is projected to hold the most substantial share in the market. The food industry's increasing demand for pale yellow to white lactose, as well as major companies' increased emphasis on increasing infant formula production, are driving up demand for pale yellow to white lactose in both developing and developed countries. For example, Perrigo Company plc said in December 2020 that it will expand its Georgia plant to fulfil rising customer demand for store brand infant formula. The increase will aid the company's ability to manufacture infant formula.
Furthermore, the pharmaceutical grade lactose market segment’s consistent demand for white lactose, as well as the quickly rising pharma business in emerging markets, are driving market demand and growth. The pharmaceutical industry requires pure white lactose due to its primary applications in inhalation medications and as fillers in oral drug formulations. On the other hand, the growing use of yellow lactose in feed manufacture and other industrial uses is driving up demand for yellow lactose in both developing and established countries.
Global Lactose Market By Color, 2023 (%)
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Global Lactose Market Regional Insights
In 2021, Asia-Pacific region is expected to have the biggest share of the lactose market. The increasing manufacturing of infant formula in the region, as well as the growing pharmaceutical industry in Asian countries such as China and India, are some of the factors driving Asia Pacific's dominance in 2021. Furthermore, strategic expansion efforts by major competitors in the market to meet rising demand are fueling market growth. For example, Olam Food Ingredients announced an investment plan for a new dairy processing factory in Tokoroa, New Zealand, in September 2021. The new factory will improve the company's global production network by producing high-value dairy ingredients such as lactose.
Europe held the second-largest share of the global market. The region's developing food industry, rising infant formula usage across Europe, and well-established dairy sector are expected to boost market expansion. According to industry experts and KOL interviews, Europe is one of the world's largest lactose producing locations, with roughly 650-700 thousand tons of production in 2020. Meanwhile, the North American market is predicted to grow at a rapid pace over the forecast period. The dairy sector's favorable business policies, the pharmaceutical industry's increased demand for refined-edible grade lactose, and the country's expanding demand for confectionery and other food products are driving market expansion in North America.
Global Lactose Market By Region, 2024-2031
- Largest
- Fastest
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Global Lactose Market Dynamics
Lactose Market Driver
- Increasing demand for food and infant-grade lactose, as well as a growing pharmaceutical industry in developing countries, contributed to lactose market expansion. Demand for infant formula has increased significantly, particularly in industrialized countries such as the United States and major European countries. China, which has historically been one of the greatest single consumers of infant formula, has long relied on imports. Because of the melamine controversy in 2008, there was a greater desire for imported baby formula brands. However, China has changed its focus to homegrown brands, promoting the country's major domestic producers. China Feihe and Inner Mongolia Yili Industrial Group Co. are two market leaders in the Chinese infant formula business. Due to increased demand for its infant formula brands in China, China Feihe had a 38% growth in sales from 2019 to 2020.
- Additionally, the pharmaceutical industry has seen tremendous expansion in recent years, particularly in developing countries such as Brazil, China, India, and others in the Asia Pacific region. The rising prevalence of chronic diseases, as well as the government's increased healthcare awareness activities, are driving up demand for sophisticated treatment solutions. As a result, the key market participants are focusing on releasing blockbuster medication molecules to meet demand, which is expected to fuel the pharmaceutical market's expansion over the study period. This rapid rise in the pharmaceutical industry is expected to increase demand for lactose, which aids in the compressibility and flowability of drug molecules during drug formulation.
Lactose Market Restraint
- Lactose is primarily used in the feed, food, and pharmaceutical industries. Furthermore, due to the high cost and scarcity of lactose, the majority of feed makers are turning to alternatives such as table sugar, molasses, dextrose, and maltodextrins. This is a significant factor limiting market expansion throughout the projection period. Furthermore, recent product recalls involving lactose-based goods, such as infant formula, will impact demand for formula and, as a result, restrict market growth. For example, Abbott Nutrition launched a voluntary recall of certain powdered newborn formulae in February 2022 owing to potential bacterial illnesses, including Salmonella. Products manufactured at the Sturgis factory can be found throughout the United States and were most likely exported to other nations as well. As a result, Canadians health officials have also issued a recall warning. As a result, the availability of alternatives and increased recalls of lactose-based products are expected to impede market growth during the forecast period.
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Global Lactose Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the lactose market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Lactose Market Top Company Profiles
- Arla Foods Ingredients P/S
- Chr. Hansen Holding A/S
- Fonterra Co-operative Group Limited
- Glanbia plc
- Hilmar Ingredients
- Kerry Group plc
- Lactalis Ingredients
- Leprino Foods Company
- Meggle Group GmbH & Co. KG
- Milei GmbH
- Milk Specialties Global
- Novozymes A/S
- NZMP Limited (Fonterra Co-operative Group)
- Saputo Ingredients
- Synlait Milk Ltd
- Tatua Co-operative Dairy Company Limited
- Tatura Milk Industries Ltd
- Volac International Ltd
- Westland Milk Products
- Wisconsin Milk Marketing Board
Lactose Market Recent Developments
- In March 2022, Arla Foods Ingredients Group P/S announced two new organic products, Lacroprodan and Premium Lactose Organic, with the goal of expanding its product offering.
- In September 2021, FrieslandCampina Ingredients launched its infant nutrition brand Friso in the Dutch market, with the goal of increasing the brand's presence in the country.
Global Lactose Key Market Trends
- The expansion of the lactose market was aided by the decreasing breastfeeding rates globally. The rise in the working population and the availability of breast milk substitutes are mostly to blame for the global decline in breastfeeding rates. One of the important elements driving up demand for infant formula in emerging nations such as China is the decreased breastfeeding rate in both developed and developing countries. As a result, some market participants are concentrating their efforts on manufacturing infant formula that is as near to breast milk as feasible. As a result, global demand for infant-grade lactose is increasing. Similarly, with sustained economic expansion and urbanization around the world, breastfeeding rates in wealthy countries such as the United States, Germany, and Japan are likely to stay low, increasing demand for infant milk formula. As a result, demand for infant-grade lactose increased, supporting market development.
Global Lactose Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global lactose market is segmented based on application, color, purity, and region. Based on the application, the pharmaceutical grade lactose market segment and infant formula (dry-blend infant-grade lactose, wet-blend infant-grade lactose) market segment is projected to hold the most substantial share. Based on the color, the pale-yellow to white segment is projected to hold the most substantial share in the market. Based on the purity, the edible segment is projected to hold the most substantial share in the market. Based on the region, the Asia-Pacific region is projected to hold the most substantial share in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.22 billion |
| Market size value in 2031 | USD 3.22 billion |
| Growth Rate | 3.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Lactose Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Lactose Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Lactose Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Lactose Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Lactose Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Lactose Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Lactose Market Report Snapshots
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