Lactase Market is anticipated to grow at a CAGR of ~5.0% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Lactase Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030.” According to the report, the global Lactase market accounted for over US$ 200 million in 2019. It is anticipated to grow at a CAGR of ~5.0% from 2020 to 2030.
Lactase is an enzyme present in the brush borders of the small intestine and breaks down lactose, a form of sugar that is present in milk. It enables the digestion of milk by hydrolyzing lactose into glucose and galactose. People suffering from lactose intolerance are unable to digest the lactose that is present in milk & milk products due to the lack of lactase. The inability to produce adequate lactase, leads to the fermentation of lactose in the intestine, further leading to undesirable side effects such as bloating and diarrhea on the consumption of dairy products. In the food & beverage industry, lactase is commonly utilized to catalyze the hydrolysis of lactose for the production of lactose-reduced or lactose-free products such as milk, cream, yogurt, cheese, and others.
The lifestyles of people in various parts of the world have changed drastically over the past few decades. This has adversely affected their food habits and in turn, their health. The number of lactase deficient populations in different regions has also increased considerably. This is one of the primary factors driving the growth of the lactase market. The growing geriatric population across the globe is also leading to an increased demand for lactose-reduced or lactose-free products. Moreover, a rise in health-conscious customers coupled with innovations focused on the development of new & innovative dairy products is playing a crucial role in driving the growth of the lactase market.
On the other hand, the lack of transportation & storage infrastructure, primarily in developing countries, will hamper the market growth to a certain extent. Developing countries lack port & shipping systems due to which they have to depend on their neighboring countries for imports. This increases the supply chain length, further increasing the tax that is levied on goods & services. This, in turn, inflates the costs of imported lactase-containing products. The obligation on manufacturers to comply with regulatory standards in different countries and the necessity to obtain various certifications, such as Kosher and Halal, will also hinder the market growth to a certain extent.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, 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 in detail along with the table of contents:https://www.marketindustryreports.com/lactase-market/398
National Center for Biotechnology Information (NCBI) states that approximately 65 percent of the world’s population is lactase deficient. Also, as per the latest census reports, the geriatric population rate in Japan is rising significantly with approximately 35 million people in the age group, 65 years & above, which accounts for roughly 28 percent of the total population. This population in Japan mostly prefers easy-to-consume meals, thus propelling the demand for lactose-free dairy products in the country.
North America will hold the largest share of the lactase market during the forecast period owing to the increasing consumption of dairy-based foods & beverages, rising awareness among consumers, and their willingness to spend on products containing lactase. However, the Asia Pacific region will grow at the fastest CAGR during the forecast period owing to key players focused on expanding their presence in the region and growing awareness among the masses.
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.
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