Lactase Market by Source (Yeast, Fungi, Bacteria), Form (Liquid, Dry), Application (Food & Beverage, Pharmaceutical Products & Dietary Supplements), Region (North America, Europe, APAC, South America, RoW) - Global Forecast to 2025
Northbrook, IL -- (SBWIRE) -- 11/30/2020 -- According to MarketsandMarkets "Lactase Market by Source (Yeast, Fungi, Bacteria), Form (Liquid, Dry), Application (Food & Beverage, Pharmaceutical Products & Dietary Supplements), Region (North America, Europe, APAC, South America, RoW) - Global Forecast to 2025", the global lactase market size is estimated to be valued at USD 217 million in 2020 and is projected to reach USD 298 million by 2025, recording a CAGR of 6.5%, in terms of value. The growing awareness among lactose intolerant population regarding self-diagnosis all across the globe offers potential growth for lactase enzyme, that helps in the production of lactose-free products.
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The liquid segment is projected to witness significant growth during the forecast period.
Based on form, the liquid segment of lactase market is projected to witness significant growth rate during forecast period. Liquid lactase enzyme accelerates chemical, biological, and metabolic reactions by altering a reaction's efficiency and results in making the pharmaceutical products more efficient for human use. Also, it offers a higher activity and better functionality than the powder form. Also, it offers better solubility and helps lactose-free product manufacturers to produce good quality of products.
The yeast segment is projected to account for a major share in the lactase market during the forecast period
By source, the lactase market is segmented into yeast, fungi, and bacteria. The increase in awareness among the lactose-intolerant population and the rise in innovative products are some of the key factors encouraging the growth of the lactase market. Moreover, the technological advancement in the extraction of lactase through yeast offers potential growth for the lactase market. Low production cost and ease in the processing of yeast are the key factors encouraging the growth of yeast-based lactase.
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The North America region dominated the lactase market with the largest share in 2019, whereas Asia-Pacific is expected to witness the highest growth rate.
The lactase market in North America is dominant due to the growing demand for different types of lactose-free products such as drinkable yogurt, ice-cream, and flavored milk. Increasing awareness about lactose intolerance among consumers and growing inclination towards health promoting dietary supplements are the key factors that are projected to drive the growth of the market in the North American region.
The fastest growing market is Asia-Pacific for lactase. The increase in awareness and self-diagnosis among lactose intolerant population, also growing consumption of lactose-free products offers potential growth for the lactase manufactures in the region. The increase in health concerns and the growing trend of opting for reduced added sugar/no added sugar claims have created growth opportunities for lactase in the region. Major players such as Valio Ltd. (Finland), expanded its production facility in China to cater lactose-free products for lactose intolerant population.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Chr. Hansen Holdings A/S (Denmark), Kerry Group (Ireland), Koninklijke DSM N.V (the Netherlands), Novozymes (Denmark), Merck KGaA (Germany), DuPont (US), Senson (Finland), Amano Enzyme (Japan), Advanced Enzyme Technologies (India), Enmex (Mexico), Antozyme Biotech Pvt. Ltd. (US), Nature Bioscience Pvt. Ltd. (India), Aumgene Biosciences (India), Creative Enzymes (US), Biolaxi Corporation (India), Novact Corporation (US), Enzyme Bioscience (India), Infinita Biotech Private Limited (India), Rajvi Enterprise (India), and Mitushi Biopharma (India).
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