Waxy Maize Starch Market
Global Lactose Market

Lactose Market Size, Share, Growth Analysis, By Application(Food, Feed, Pharmaceuticals, Infant Formula (Dry-blend Infant-grade Lactose), By Color(Yellow, Pale-Yellow to White, White), By Purity(Crude, Edible, Refined Edible), By Region - Industry Forecast 2024-2031


Report ID: SQSG30C2038 | Region: Global | Published Date: July, 2001
Pages: 242 | Tables: 92 | Figures: 76

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.

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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).

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. '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'

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.

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 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, 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.

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 production network by producing high-value dairy ingredients such as lactose.

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Global Lactose Market

Report ID: SQSG30C2038

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