“The lactase market is projected to grow at a CAGR of6.5% during the forecast period.”
According to the report, the lactase market is estimated to be valued at USD 217million in 2020and is projected to reach USD 298million by 2025, recording a CAGR of 6.5%, in terms of value. Factors such as rising cases of lactose-intolerance and growing demand from lactose-free dairy product manufacturers and increasing innovation and new product development in the application areas are projected to drive the growth of the lactase industry during the forecast period. However, the growth of the lactase market is inhibited by factors, such as shifting preferences toward dairy-free alternatives and high processing cost and lack of technical expertise for lactase extraction.
“By source, the yeast segment is projected to hold the largest share in the market during the forecast period.”
Yeast is a largely-used source for the extraction of lactase enzyme. Kluyveromyces lactis and Kluyveromyces fragilis (Sacchoramyces fragilis) are recognized as safe” (GRAS) by the Food & Drug Administration (FDA). Therefore, lactase enzyme sourced from yeast finds major applications in the food & beverage industry, especially in the dairy industry.
“By form, the liquid segment is estimated to be the fastest growing segment during the forecast period.”
The liquid form of enzymes is generally less stable than the solid form, although it may have higher activity and better functionality than the powder form. It is directly used in the liquid form or sprayed and absorbed on a solid carrier. Among all applications, the liquid form of lactase enzyme is widely used in the food & beverage industry and pharmaceutical applications for products, such as syrups. Liquid lactase enzyme accelerates chemical, biological, and metabolic reactions by altering a reaction’s efficiency and results in making the pharmaceutical product more efficient for human use.
“By application, food & beverage segment is projected to hold the largest share in the market during the forecast period.”
Food & beverage segment holds the largest market share in the lactase market owing to its importance in dairy applications for providing lactose-free products to lactose intolerant consumers. The increasing inclination of consumers towards dairy products and growing awareness about lactose intolerance among consumers globally is driving the food & beverage segment.
“The North America region is projected to hold the largest share in the market during the forecast period”
The North America region is projected to hold the largest share in the market during the forecast period. The increasing consumption of dairy products, rising awareness about health consciousness among consumers and increasing willingness to spend on health promoting products are some of the major factors driving the growth of lactase market in the region.
The lactase market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America, and RoW (Africa and the Middle East)
Break-up of Primaries
- By Value Chain: Supplyside – 62% and Demandside – 38%
- By Designation: CXOs- 31.1%, Managers–46.2%, and Executives–22.7%
- By Region: Asia Pacific - 30%, North America- 28%, Europe - 22%, South America - 10%,and Middle East & Africa- 10%
Leading players profiled in this report include the following:
- Chr. Hansen Holding A/S (Denmark)
- Kerry Inc. (Ireland)
- Koninklijke DSM N.V. (Netherlands)
- Novozymes (Denmark)
- Merck KGaA (Sigma-Aldrich) (Germany)
- DuPont (US)
- Senson (Finland)
- Amano Enzyme Inc. (Japan)
- Advanced Enzyme Technologies (India)
- Enmex (Mexico)
- Antozyme Biotech Pvt. Ltd. (India)
- Nature BioScience Pvt. L.T.D. (India)
- Aumgene Biosciences (India)
- Creative Enzymes (US)
- Biolaxi Corporation (India)
- Novact Corporation (US)
- Enzyme Bioscience (India)
- Infinita Biotech Private Limited (India)
- Rajvi Enterprise (India)
- MitushiBioPharma (India)
This report segments the lactase market on the basis of source, form, application, and region. In terms of insights, this research report focuses on various levels of analyses?competitive landscape, pricing insights, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the lactase market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons To Buy this report
- To get a comprehensive overview of the lactase market
- To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
- To gain insights about the major countries/regions, in which the lactase market is flourishing