Lactase Market Would be worth US$ 351.4 Mn by 2032 Likely to Expand at a CAGR of 4.8%, up from US$ 219.9 Mn in 2022 | Get Data Future Market Insights, Inc.

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Nov 07, 2022, 09:00 ET

Global Market Study on Lactase: Growing Consumption of Lactase in Pharmaceuticals to Provide Market Players with Lucrative Prospects. Dietary supplements to be the second most preferred form of lactase. US accounted for 30.7% of the global market of Lactase market with a market value of US$ 67.5 Mn in 2022.

NEWARK, Del., Nov. 7, 2022 /PRNewswire/ -- The global lactase market is projected to reach a value of US$ 351.4 Mn in 2032, with the market growing at an average CAGR of 4.8% from 2022 to 2032. Valued at US$ 210.2 Mn in 2021, the target market will likely reach an estimated US$ 219.9 Mn in 2022. Heightened demand for lactase in the food and beverages and healthcare sectors is expected to drive growth for the lactase market during the forecast period.

Lactase, an enzyme found in the guts of humans and various other animals, is used in the breakdown of lactose into glucose and galactose. Lactose which is found in dairy products is often difficult to break down and lactase assists in the digestion of these products. Thus, to help with this difficulty in digestion, lactase supplements are prescribed, or lactase is blended in with dairy products so that lactose can be broken down before consumption.

Lactase enzymes are available in pill as well as powder form and help compact lactose intolerance issues. Lactase in powder or pill form can be added to milk to make it easier to digest. Lactase reduces the lactose content of food while improving its sweetness and thinning its consistency. Due to the advancing food and beverage sector as well as the rising production and consumption of food, the lactase market will likely experience high demand in the next few years.

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Again, lactase supplements are also frequently prescribed to manage other conditions such as irritable bowel syndrome, bloating, and gas buildup. Consequently, lactase finds huge demand in the healthcare sector. Thus, the accelerated growth of the healthcare industry has also propelled the lactase market growth during the forecast period.

"Rising usage of lactase in food products as well as in various healthcare items will stimulate the global growth of the lactase market over the forecast period," says an FMI analyst.

Key Takeaways:

North America will continue to remain a lucrative market for lactase.
The United States will account for 30.7% of the global lactase market share, reaching a value of US$ 67.5 Mn in 2022.
Expanding the food and beverages sector will drive the lactase market in Europe.
Germany will hold 24.7% of the global market share, reaching a value of US$ 54.3 Mn.
India's lactase market will register a CAGR of 5.8% during the assessment period.
Japan and Korea will offer several profitable opportunities to the lactase market in the Asia Pacific.

Competitive Landscape

Advanced Enzyme Technologies, Aumgene Biosciences, Novact Corporation, Creative Enzymes, Merck KGaA (Sigma-Aldrich), Amano Enzyme Inc, Chr Hansen Holding A/S, Koninklijke DSM N.V., Mitushi BioPharma, and Rajvi Enterprise among others are some of the major players in the lactase market profiled in the full version of the report.

Lactaid, a leading market player in the lactase supplement market, has dominated the pill market with over 75% share and accounts for a 10% share in the powder segment. Apart from the market dominance of Lactaid, other market participants employ different strategies to strengthen their market positions.

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More Insights into Lactase Market Report

In its latest report, FMI offers an unbiased analysis of the global lactase market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product source (animal, fungus, plants), application (food and beverages, healthcare), and region.

According to the latest FMI reports, based on segmentation, the plant source segment will present several substantial opportunities during 2022-2032. High demand for lactase-rich products, growing awareness of the benefits of this enzyme, and increasing cases of lactose intolerance are driving the growth of this segment. With growing awareness of lactase benefits, the food & beverages and healthcare sectors are also making extensive use of the product.

Based on region, the lactase market in the United States will demonstrate marked growth during 2022-2032. The target market in this country will hold about 30.7% of the global lactase market share. Rising incidences of lactose intolerance coupled with heightened demand for dairy-free, lactose-free products will fuel the regional market growth during the forecast period. Apart from the United States, India, and Germany, too will present notable growth in the lactase market during the projected period.

Lactase Market by Category

By Source, Lactase Market is segmented as:

Animal
Fungus
Plants

By Application, Lactase Market is segmented as:

Food and Beverages
Healthcare

By Region, Lactase Market is segmented as:

North America
Latin America
Europe
Asia Pacific
MEA

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.2. Scenario Forecast

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

3.8. PESTLE and Porter's Analysis

3.9. Regulatory Landscape

3.10. Regional Parent Market Outlook

3.11. Production and Consumption Statistics

3.12. Import and Export Statistics

4. Global Lactase Market Analysis 2016-2021 and Forecast, 2022-2032

4.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis, 2016-2021

4.2. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Projections, 2022-2032

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Explore wide-ranging Coverage of FMI's Food And Beverage Market Insights Landscape:

Lactose-free Cheese Market Size: The global lactose-free cheese market size is expected to reach a valuation of US$ 676.3 Mn by the end of 2022. The market is set to accelerate at a CAGR of 8.4% during 2022-2032. It is anticipated to be valued at US$ 1,515.1 Mn in 2032.

Lactose-Free Products Market Share: The global lactose-free products market size is valued at USD 9.2 Bn in 2022 and it is expected to reach US$ 15.8 Bn by 2032 at a CAGR of 7.1% from 2022 to 2032.

Lactose-Free Butter Market Demand: The global lactose free butter market is estimated to reach US$ 720 Mn in 2022 and is projected to reach US$ 1,643 Mn by 2032, at a CAGR of 8.6% from 2022 to 2032.

Lactose Free Dairy Products Market Growth: The global lactose free dairy products market is expected to reach market valuation of USD 13.5 Bn by the year 2022, accelerating with a CAGR of 5.5% by 2022-2032.

Lactose-free Cheese Market: The global lactose-free cheese market size is expected to reach a valuation of US$ 676.3 Mn by the end of 2022. The market is set to accelerate at a CAGR of 8.4% during 2022-2032. It is anticipated to be valued at US$ 1,515.1 Mn in 2032.

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