From GlobeNewswire:

The Global Lactose Market is projected to grow from USD 2.99 billion in 2023 to USD 7.41 billion by 2033, with a CAGR of 9.5%. Lactose is widely used in the food and pharmaceutical industries, but high costs and availability of substitutes are impacting market growth. Asia-Pacific is expected to lead market growth, driven by demand for infant formula and dairy products. Europe is forecasted to grow quickly due to increased infant formula usage and a strong dairy industry. Major vendors in the market include Fonterra Co-operative Group, Kerry Group plc, and Arla Foods Ingredients Group P/S. In March 2022, Arla Foods introduced two new organic products to expand its portfolio. This study has segmented the global lactose market by type, application, color, purity, end-user, and region.

The monohydrate segment is expected to dominate the global lactose market, with pharmaceutical excipients driving growth. The food segment is projected to grow rapidly due to increased demand for dairy products. The pale-yellow to white segment is forecasted to experience the highest growth, fueled by the food sector’s need for nutrients in newborn formula. Refined edible lactose is anticipated to grow the most in the market, driven by infant formula and pharmaceutical products. The food & beverages segment is expected to lead market growth, supported by the expanding application of lactose in various products.

To cater to the rising demand for lactose, companies are innovating and expanding their product portfolios. Competitive analysis in the report provides insights into the strategies, market share, and developments of key players like Fonterra Co-operative Group and Kerry Group plc. The global lactose market is dynamic, with Asia-Pacific leading in market share due to expanding pharmaceutical and infant formula industries. Innovative products, development in various sectors, and market expansion are driving growth. Europe is expected to grow rapidly, with strong demand for infant formula and dairy products supporting market expansion.

Key players in the global lactose market include Fonterra Co-operative Group, Kerry Group plc, and Arla Foods Ingredients Group P/S. In March 2022, Arla Foods introduced new organic products to broaden its portfolio. The market is segmented by type, application, color, purity, end-user, and region. Asia-Pacific is poised for significant growth, while Europe is expected to see rapid expansion due to increased infant formula usage and a robust dairy industry. Competitive analysis in the report provides insights into market strategies and developments.



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