USD 2.22 billion
Report ID: SQSG30C2038 | Region: Global | Published Date: September, 2022 | Pages: 242 | Tables: 92 | Figures: 76
Lactose Market size was valued at USD 2.22 billion in 2021 and is poised to grow from USD 2.3 billion in 2022 to USD 3.22 billion by 2030, growing at a CAGR of 3.8% in the forecast period (2023-2030).
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.
Global Market Size
USD 2.22 billion
Pale-Yellow to White
Pale-Yellow to White
To get more reports on the above market click here to Buy The Report
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.
To get detailed analysis on other segments, Request For Sample Report
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.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Lactose Market Driver
Lactose Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
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
Lactose Market Recent Developments
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.
|Market size value in 2021||USD 2.22 billion|
|Market size value in 2030||USD 2.3 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.