"The global lactose market is poised for significant growth, with projections indicating it will reach USD 1,569.93 million by the end of 2024. This growth represents a steady compound annual growth rate (CAGR) of over 2% from the current market value. The market's expansion is fueled by increasing demand in the infant formula and pharmaceutical sectors, alongside a rising global focus on health and wellness.

Market Overview

Lactose, a sugar composed of galactose and glucose, plays a crucial role in nutrition and pharmaceuticals. It is primarily used in infant formula to mimic human milk and is also valued in the pharmaceutical industry as a binding agent and filler in tablets and capsules. Lactose’s role in meeting the immunological and neural requirements of consumers highlights its importance in various industries.

Key Growth Drivers

Infant Formula Demand: Lactose remains a vital component in infant formula, crucial for mimicking the composition of human milk. This has led to consistent global demand, with significant consumption in regions like China and India, where the baby formula market is expanding rapidly.

Pharmaceutical Industry Expansion: Lactose is increasingly utilized in the pharmaceutical sector for its role as a filler and binding agent. The growth of this industry, particularly in emerging markets such as Brazil, China, and India, is driving up lactose demand.

Health & Wellness Trends: The global shift towards healthier lifestyles has bolstered interest in lactose as a source of galactose, which is essential for various bodily functions. As consumers seek more nutritional options, lactose's role in health supplements and nutraceuticals becomes more significant.

Challenges

Despite its growth, the lactose market faces challenges from the rising demand for lactose-free products. Lactose intolerance affects approximately 65% of the global population, with a high prevalence in regions like East Asia. This has spurred the production of lactose-free dairy products, which are gaining popularity due to health and wellness trends.

COVID-19 Impacts

The COVID-19 pandemic has impacted the global lactose market by disrupting supply chains and altering consumer behaviors. While the dairy sector has continued to operate, the pandemic has led to challenges such as logistical issues and changes in demand patterns. Increased home baking during lockdowns has influenced product demand, although the overall impact remains complex and evolving.

Segmental Insights

Derivatives: Lactulose dominates the market, accounting for 58.84% of the share in 2019. It is projected to reach USD 385.46 million by 2024, driven by its use in food and pharmaceuticals.

Form: The powder form of lactose leads the market, holding a 67.54% share in 2019. It is widely used as a filler in tablets and a stabilizer in baked goods.

End-User: The food and beverage sector, followed by pharmaceuticals, is expected to hold the largest market share. The rising demand for energy beverages and infant formula continues to drive growth.

Region: Europe is the leading market, with a projected CAGR of 1.76% during the forecast period. Efforts by manufacturers to adjust dairy product compositions are supporting this growth.

Recent Developments

In October 2019, Saputo Inc. acquired Lion-Dairy & Drinks Pty Ltd's specialty cheese business for USD 280 million, enhancing its market presence.
In August 2018, Fonterra formed a joint venture with Future Consumer Ltd to develop dairy products in India, addressing rising demand.
Conclusion

The global lactose market is set for steady growth, driven by expanding applications in infant formula and pharmaceuticals. Despite challenges from lactose-free product trends and COVID-19 impacts, the market's fundamentals remain strong, supported by rising consumer health consciousness and industry developments. https://www.shingetsuresearch.com/global-lactose-market/"


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