Lactose Market

Lactose Market

Growth Factors of Lactose Market

The lactose market size was valued at USD 1.72 billion in 2023, and the market is now projected to grow from USD 1.02 billion in 2024 to USD 4.99 billion by 2032, exhibiting a CAGR of 22.0% during the forecast period of 2024-2032.

The COVID-19 pandemic’s impact on the global lactose market growth and its production remained stable since lactose belongs to the essential product category. However, constant lactose production did not shield in 2020 from a shift in this supply-demand balance. Fluctuations of the currency supported the market’s beneficial effects as well. In the year 2023, the market share shrunk with the existing prices dropping but in more upcoming years growth is predicted.

Growth in the pharmaceutical industry especially in developing nations such as Brazil, India and China along with increasing demand for infant-grade lactose is the major factor that boosts the demand for lactose. The change of preference towards local infant formula brands has benefited Chinese domestic manufacturers. Lactose production has not risen in parity with consumption, even as the global demand for it rises. Lactose, for instance, acts as a binder in pharmaceuticals, while the increasing incidence of chronic diseases makes people seek better medication. These effects are expected to enhance lactose market share.

Also, the global trend where women are discouraging breastfeeding babies due to status changes and more women are joining the workplace to support their families, is extending the market for infant formula. In countries such as China, this transition has resulted in increased practice of formula feeding. Increasing consumer knowledge about vitamin and mineral fortification in lactose products also contributes to sales. Manufacturers and stakeholders are working on creating formulas of breast milk types, which would help lactose for the infant grade grow. The breastfeeding rate is projected to remain low owing to increased urbanization and economic development, boosting demand for infant formula.

Comprehensive Analysis of Lactose Market

The lactose market and the healthcare industry are also growing at an exponential rate because of its market segmentation. This market expansion also offers a comprehensive idea about the regions for giving the main supply-demand dynamics influencing the pharmaceutical marketplace. These segmentations are systematically separated by application, by color and by purity. The application include, Food, Feed, Pharmaceuticals and Infant Formula {Dry-blend and Wet-blend}. The color include, Yellow, Pale-Yellow to White and White. The purity include, Crude, Edible and Refined Edible.

The market size in Asia Pacific was valued at USD 1.08 billion in 2023. There is a drive to more manufacturing units for infant formula in the region and also the boosting pharma segment in China and India that has made Asia Pacific superior in 2023. In addition, the growth of the market is also backed by the comprehensive expansion strategies being set forth by the key market players to meet upcoming demands.

These leading market players significantly contribute to the healthcare industry by ensuring the prospect of industrial growth and defining market trends. These players include, Fonterra Co-operative Group (New Zealand), FrieslandCampina (Netherlands), DFE Pharma (Germany), MILEI GmbH (MORINAGA MILK INDUSTRY CO., LTD.) (Germany), Arla Foods Ingredients Group P/S (Denmark), MEGGLE GmbH & Co. KG (Denmark), Lactose (India) Limited (India), Hilmar Cheese Company, Inc. (U.S.), Kerry Group plc. (Ireland), Käserei Champignon Hofmeister GmbH & Co. KG (ALPAVIT) (Germany), Armor Proteines (SAVENCIA SA) (France), Glanbia PLC (Ireland), Lactalis International (Lactalis Group) (France) and Milk Specialties Global (U.S.). These market players provide a level-playing competitive landscape.

In November 2023, The N3 milk formula was introduced in the market by Nestlé S.A. The product is extracted from cow’s milk and is similar to milk in composition with all the nutrients found in milk and includes prebiotic fibers for product.

Segmentation Table

Global Lactose Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 22.0% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Application, Color, Purity, and Region

By Application

Food

• Feed
• Pharmaceuticals
• Infant Formula
• Dry-blend
• Wet-blend

By Color

Yellow

• Pale-Yellow to White
• White

By Purity

Crude

• Edible
• Refined Edible

By Region

North America

• Europe
• Asia Pacific
• Rest of the World

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