Lactose
sourced from whey, which is a by-product derived from cheese making
process. Lactose is widely used in industries including food and
beverage, pharmaceuticals, animal feed and confectionary. Lactose
market is mainly driven by the sustainable need generated by the food
and beverage industries. Rapid growth in food and beverage industry
is expected to drive the global lactose market during the forecast
period. Besides, food and beverage industries, continuous growth in
pharmaceuticals and animal feed industry will also fuel up the global
lactose market. The growing demand for infant formula containing
lactose by dual working households is also expected to register a
rapid growth in the global lactose market especially in the
developing countries.
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Driven
by increased demand for milk, the lactose market is expected to grow
over the forecast period. Increasing dairy market especially in U.S.
and Western Europe are the major factors contributing to the demand
growth of global lactose market. Sustained demands by rapidly growing
food and beverage, pharmaceuticals, confectionary and animal feed
industries are expected to drive the global lactose market. Lactose
is a product that constitutes two combined sugars- glucose and
galactose which make lactose a healthy sugar fit for consumption.
Characteristics such as cost effectiveness, water solubility, and
easy availability are expected to increase the global lactose market.
Consumption of lactose improves the intestinal health and enhances
mineral absorption which is further expected to be the drivers for
global lactose market during the forecast period. Rising living
standards of consumers, easier healthcare services access, and
rapidly population increase are few other factors that contribute to
the global lactose market demand. Lactose market also witnesses
growth owing to the growing sales of infant formula wherein lactose
is used as a main product. Households having dual income, increased
women workforce contribute significantly to the increasing sales of
infant formula which thereby boost up the global lactose market and
is expected to continue growing over the forecast period.
However,
few are intolerant to lactose which drives the introduction of
lactose-free milk or lactose-free food products thereby restraining
the growth of global lactose market. The demand for lactose-free food
products is expected to increase owing to the increased allergy
incidences among the consumers. Besides, low conversion rates of
lactose for feedstock is also considered to be one of the restraints
hindering the global lactose market.
Lactose
market has its application in food and beverage products such
as nutritional powder, infant formula, and health drinks, in
pharmaceuticals as inhalation-grade lactose. Inhalation-grade lactose
is expected to gain a boost from pharmaceutical industry owing to the
increased focus of companies to develop new inhaled drug therapies.
It is also used in confectionary products include milk chocolates
that have lactose content.
Regional
coverage for lactose market includes North America, Latin America,
Western Europe, Eastern Europe, Asia Pacific excluding japan (APEJ),
Japan and the Middle East and Africa (MEA). Japan, Asia Pacific, and
North America hold a dominant position in the global lactose market
owing to the growth in food and beverage and pharmaceutical
industries that demand lactose for its products. Asia- Pacific is
expected to account for a rapidly growing market for lactose during
the forecast period attributed to the increasing population, rising
disposable income, changing consumer lifestyles and rising health
consciousness.
Few
market players operating in the global lactose market include DMV
International, Kerry Group, Lactalis Ingredients, Fonterra
Co-operative Group Ltd., Agri Dairy Products Inc., Grande Cheese
Company and Molkerei MEGGLE Wasserburg GmbH & Co.
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