The global Lactase market size is expected to be worth around US$ 276.3 million by 2027, according to a new report by Vision Research Reports.
The global Lactase market size was valued at US$ 185.1 million in 2019 and is anticipated to grow at a CAGR of 5.0% during forecast period 2020 to 2027.
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Lactase Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 – 2027 – Breakdown Data by Regions, Type, Manufacturers and Applications
Growth Factors
rising product development & innovations in other application areas, are expected to drive the market growth. Lactase is predominantly used in the food & beverage application, majorly consumed as dairy enzymes, as it makes the dairy products lactose-free by reducing and/or eliminating the lactose content. The growing cases of lactose-intolerance across the globe is one of the key factors augmenting the product demand.
Increasing awareness among individuals regarding health and wellness has led to a rise in consumption of enzyme-based foods, such as milk powder, butter, infant milk formula, and sour cream; which not only adds useful nutrients to the diet but also improves digestion. The ability of the lactase enzymes to maintain freshness and increase the shelf-life of projected to further augment the market growth.
Report Highlights
- In terms of revenue, the yeast segment accounted for the largest market share of over 443% in 2019 and will expand further at a steady CAGR from 2020 to 2027 due to the high demand for yeast-based lactase in dairy processing and dietary supplements industries
- Food & beverages was the largest application segment in 2019 owing to extensive product usage in milk, condensed milk, ice-cream, cheese, milk powder, and yogurt
- North America is anticipated to exhibit steady growth over the coming years on account of rising cases of lactose-intolerance in the region
- In addition, factors, such as nutritional benefits and easy digestibility, have resulted in the growing adoption of lactose-free products in North America
- Key companies are adopting various strategies, such as clinical trials, new product launches, M&A, and R&D investments to increase their market share
- However, the lack of technical expertise and high processing cost of lactase extraction is projected to inhibit the industry growth
- In May 2019, Chr. Hansen Holding A/S launched LACTOSENS R, a lactose biosensor test kit to document lactose concentrations across all dairy applications
Key Players
- Mitushi Biopharma
- Rajvi Enterprise
- Infinita Biotech Pvt. Ltd.
- Aumgene Biosciences
- DuPont
- Antozyme Biotech Pvt. Ltd.
- Novact Corp.
- Biolaxi Corp.
- Creative Enzymes
- Nature BioScience Pvt. Ltd.
- ENMEX
- Advanced Enzyme Technologies
- Amano Enzyme Inc.
- Senson
- Merck KGaA
- Novozymes
- DSM
- Kerry Inc.
- Chr. Hansen Holding A/S
Market Segmentation
Lactase Source Outlook
- Fungi
- Yeast
- Bacteria
Lactase Form Outlook
- Powder
- Liquid
Lactase Application Outlook
- Food & Beverages
- Milk
- Cheese
- Yogurt
- Others
- Dietary Supplements
- Pharmaceuticals
Lactase Regional Outlook
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- UAE
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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