Global Lactase Market – Industry Trends and Forecast to 2029

Global Lactase Market, By Source (Fungi, Yeast and Bacteria), Form (Dry and Liquid), Application (Food and Beverages, Pharmaceuticals Products, Dietary Supplements and Others) – Industry Trends and Forecast to 2029.

Lactase Market Analysis and Size

People's food habits and health have been severely impacted by changing lifestyles around the world. The number of lactose intolerant people is growing in many parts of the world. This can also be attributed to the world's growing geriatric population.

Data Bridge Market Research analyses that the lactase market was valued at USD 206.13 million is expected to reach the value of USD 316.34 million by 2029, at a CAGR of 5.50% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Lactase Market Scope and Segmentation

Market Definition

Lactase is extracted from yeast, but other sources of lactase enzymes, such as fungi and bacteria, are being researched and developed. Lactase enzymes extracted from bacteria have been used for lactose hydrolysis due to numerous advantages such as high activity, enzyme stability, and fermentation.

Global Lactase Market Dynamics

Drivers

• Increase in number of individuals suffering from lactose intolerance

A significant increase in people suffering from lactose intolerance is driving up the demand for lactose-free dairy products. This is one of the most important factors influencing lactase demand for lactose-free milk products. Furthermore, growing public awareness of health and wellness encourages the use of lactase pills, which are taken before consuming dairy products to help relieve irritable bowel syndrome (IBS) symptoms.

• Product innovation and high adoption from the pharmaceutical industry

Aside from that, because liquid lactase has improved functionality and activity, it is finding widespread use in the pharmaceutical industry to produce syrups and tonics. To prevent lactose digestion problems such as gas, nausea, and stomach-ache, leading market players are also introducing new delivery forms such as strength caplets and fast-acting chewable tablets. Furthermore, the market is expected to be driven by rising consumer awareness about healthy digestion and immune system function.

Opportunities

Consumers all over the world are gravitating toward organic personal care products, owing to an increase in demand for organic compounds. This is expected to fuel the market during the forecast period. In cosmetics, lactase is used in supercritical fluid technology to extract antioxidants.

Restraints

Shifting preferences toward dairy-free alternatives will restrain the growth of the lactase market during the forecast period.

This lactase market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the lactase market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Lactase Market

Due to the global lockdown in several countries, the outbreak of the COVID-19 pandemic has disrupted the supply chain. Furthermore, the spread of coronavirus reduced demand for chemical intermediates due to uncertainty in the global economy and capital markets. The lactase market has suffered as a result of the COVID-19 pandemic-related restrictions. The lactase market has been harmed by nationwide lockdowns and the closure of manufacturing facilities. However, the market is anticipated to expand at a healthy pace during the forecast period due to the acceptance of new normal conditions and restart of various end-use industries in many counties across the globe.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2021, International Flavors and Fragrances (IFF) will introduce YO-MIX ViV, a lactic acid bacteria culture-based product used in ambient yogurt and other fermented drinks. The product is aimed at the Asia-Pacific region, with a particular emphasis on China.
• In 2021, LG Chem, a world-leading diversified chemical company, and ADM, a global provider of nutrition and biosolutions, signed a memorandum of understanding (MoU) to investigate US-based lactic acid production to meet the growing demand for a variety of plant-based products, including Lactic Acid and Polylactic Acid for Bioplastics and Other Plant-Based Solutions.
• In 2021, Total Corbion PLA, a 50/50 joint venture between Total and Corbion, has begun the front-end engineering design stage for its new 100,000-tonne-per-year Poly Lactic Acid (PLA) factory in Grandpuits, France, which is scheduled to open. When it opens in 2024, it will be the first of its kind in Europe. Total Corbion PLA would become the global PLA market leader, well positioned to meet the ever-increasing demand for Luminy PLA resins.

Global Lactase Market Scope

The lactase market is segmented on the basis of source, form and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

• Fungi
• Yeast
• Bacteria

Form

• Dry
• Liquid

Application

• Food and Beverages
• Pharmaceuticals Products
• Dietary Supplements
• Others

Lactase Market Regional Analysis/Insights

The lactase market is analysed and market size insights and trends are provided by country, source, form and application as referenced above.

The countries covered in the lactase market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the lactase market due to rising FDA product approvals.

Asia-Pacific is expected to grow from 2022 to 2029 due to changing lifestyles among the growing population, as well as rising demand for healthy and nutritional food products.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Lactase Market Share Analysis

The lactase market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to lactase market.

Some of the major players operating in the lactase market are:

• Bayer AG (Germany)
• Abbott (U.S.)
• DSM (Netherlands)
• DuPont. (U.S.)
• Amway (U.S.)
• The Nature's Bounty Co. (U.S.)
• GlaxoSmithKline plc. (U.K.)
• Nestlé SA (Switzerland)
• Mead Johnson & Company, LLC. (U.S.)
• Medifast, Inc. (U.S.)
• Premier Nutrition Corporation (U.S.)
• TOOTSI IMPEX Inc. (Canada)
• Health Food Manufacturers' Association (U.K.)
• NOW Foods (U.S.)
• Glanbia PLC (Ireland)
• Herbalife International of America, Inc. (U.S.)
• Bionova (India)