Lactase Market By Source (Bacteria, Fungi, and Yeast), Form (Dry and Liquid), Application (Food & Beverage and Pharmaceutical Products & Dietary Supplements) - Global Analysis & Forecast 2020-2030
Report ID : 398 | Published Date : Sep 2020 | Pages : 150 | Region : Global | Report Code : FB-34
Lactase Market Overview and Introduction
Lactase is responsible for hydrolyzing lactose into glucose and galactose. It is an enzyme present in the brush borders of the small intestine. Lactose intolerance is a condition wherein a person is unable to digest the lactose present in milk & milk products. This is a result of lactase deficit due to which lactose present in dairy products starts fermenting in the intestine, further leading to uneasiness and other side effects including diarrhea and a bloating sensation.
Several food & beverage manufacturers, especially in the dairy industry, utilize lactase to catalyze the hydrolysis of lactose for producing several lactose-reduced or lactose-free products. Changing lifestyles of people, the increasing number of lactase deficient people and growing geriatric populations across the globe are some of the factors positively influencing the market growth of lactase. Also, the rising inclination of health-conscious consumers toward lactose-reduced and lactase-free products will provide a sturdy platform for market growth. Moreover, the increasing focus of food & beverage manufacturers on the research & development of such products will also play a key role in propelling the market growth.
Factors such as the lack of transportation & storage infrastructure in emerging economies & their dependence on neighboring countries for imports, however, will have a negative impact on market growth. Also, the presence of dairy-free alternatives, such as almond, soy, coconut, & rice-based milk, will hamper the market growth of lactase to a certain extent. On the other hand, extensive research & development activities focused on alternative sources of lactase will present new growth opportunities to established as well as new market players.
Lactase Market By Source
Based on the source, the lactase market can be segmented into bacteria, fungi, and yeast. Lactase enzyme obtained from yeast finds a broad spectrum of applications in the food & beverage industry, especially dairy products. Moreover, several manufacturers across the globe prefer yeast for lactase extraction. Owing to these factors, the yeast segment is expected to hold a major market share and is projected to grow at the highest CAGR over the forecast period.
Lactase Market By Form
Based on form, the lactase market can be segmented into dry and liquid. The liquid form is utilized extensively in foods & beverages, dietary supplements, and pharmaceutical products. The presence of liquid lactase in pharmaceutical products enables faster chemical & biological reactions, further enhancing the efficiency of these products. Moreover, in its liquid form, lactase is more efficient as compared to the dry form. Owing to these advantages offered by the liquid form of lactase, the liquid segment is expected to dominate the lactase market.
Lactase Market By Application
Based on applications, the lactase market can be segmented into food & beverage and pharmaceutical products & dietary supplements. The food & beverage segment is projected to lead in terms of market share during the forecast period. Factors such as the growing preference of dairy manufacturers for the production of lactose-reduced & lactose-free products will play a significant role in boosting the growth of this segment.
Lactase Market By Region
Based on the region, the global lactase market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America region is expected to hold the largest market share during the forecast period. Factors such as rising consumer awareness regarding dairy products containing lactase and the willingness of health-conscious consumers in this region to spend on such products will boost the regional market growth in North America. However, Asia Pacific will grow at the highest CAGR owing to key players expanding their presence in this region and the growing preference for such products among consumers.
Some of the prominent players in the global lactase market include Advanced Enzyme Technologies, Amano Enzyme Inc., Chr. Hansen Holding A/S, DuPont, Enmex, Kerry Inc., Koninklijke DSM N.V., Merck KGaA, Novozymes, and Senson, among others.