Rockville, Jan. 18, 2023 (GLOBE NEWSWIRE) -- A recent report by Fact.MR on lactase enzyme market provides a thorough analysis of growth drivers, emerging trends, and restraints shaping the market dynamics. The report studies various emerging opportunities across leading segments including product type, form, and end use. It also highlights strategies adopted by key players to dominate the global market.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global lactase enzymes market is projected to expand at 4% CAGR between 2023 and 2033, reaching US$ 1.1 billion by the end of 2033. In 2023, global lactase enzyme sales are expected to total a market valuation of US$ 742 million.
Rising incidence of lactose intolerance worldwide coupled with increasing demand for lactose-free products is a key factor driving the global lactase enzyme market forward. In recent years, there has been a sharp rise in cases of lactose intolerance across the world.
Around 65% of the adult human population suffers from lactose intolerance triggered by decreasing activity of the LCT gene, as per the World Population Review. This will continue to act as a catalyst fostering development of the global lactase enzyme market.
People with lactose intolerance are not able to fully digest lactose present in dairy products. Hence, they suffer from conditions such as diarrhea and bloating. To address this, lactase enzyme is being widely used across industries such as food & beverage, pharmaceutical, and dietary supplements.
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Lactase is primarily used in food and beverage applications, where it is consumed as an enzyme in dairy products to reduce and/or eliminate lactose content to make lactose-free products. It breaks down lactose in dairy items and prevents diarrhea, pain, cramping, gas, and bloating. This supplement allows lactose intolerant-people to enjoy the deliciousness of dairy products without harming their bodies.
Factors such as growing demand for easy-to-digest foods, rising health awareness, and surging use in dietary supplements are expected to boost the demand. Similarly, increasing production and consumption of lactase tablets to boost health will generate lucrative opportunities for lactase enzyme manufacturers over the next ten years.
Demand for lactase enzymes remains particularly high in the food & beverage sector due to rising usage of this supplement for producing lactose-free goods on large scales. In 2020, food & beverages segment held a share of 46% of the global lactase industry and this number is likely to further increase during the forecast period due to rising demand for lactose-free processed food products.
Lactase is used commercially to produce lactose-free goods, especially lactose-free milk. It improves the probiotic content in milk, enhances natural sweetness, and promotes the creaminess of the product.
Lactase is widely used in the production of yogurt, cream, cheese, and ice cream. This growing trend of using lactase enzyme in the food & beverage industry for the production of lactose-free dairy goods will play a key role in helping the market to thrive during the next ten years.
Key Takeaways:
- Based on product type, fungal lactase enzymes segment held a market share of 78% in 2022.
- By form, liquid lactase enzyme sales are projected to rise at 3.8% CAGR during the forecast period.
- Canada’s lactase enzyme market is forecast to expand at 4.8% CAGR between 2023 and 2033.
- Lactase enzyme sales in the USA are expected to surge at 3.5% CAGR over the next decade.
- With increasing demand for easy-to-digest foods, Japan's lactase enzyme market is set to progress by 6% CAGR during the forecast period.
- Germany accounts for 16% of Europe’s lactase enzyme market and is projected to accelerate at 2.3% CAGR from 2023 to 2033.
Growth Drivers:
- Growing interest in consuming enzyme-based foods due to several health benefits is expected to boost the global lactase enzyme industry.
- Rising awareness about lactose intolerance will elevate lactose enzyme sales during the forecast period.
- Increasing number of start-ups offering innovative products is expected to foster development of the worldwide lactase enzyme market over the next decade.
- Surging investments in research and development to expand the application area of lactase enzyme will create lucrative opportunities for manufacturers.
Restraints:
- Varying costs of enzymes is restraining growth in the global lactase enzyme market.
- Growing popularity of plant-based dairy products will also limit market expansion to some extent.
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Competitive Landscape:
Key lactase enzyme manufacturers are implementing different strategies such as strategic alliances, mergers, partnerships, acquisitions, geographic expansions, and new product launches to gain a competitive edge in the market.
For instance,
- In 2022, Kiwi Biosciences, a Y Combinator-funded biotech startup, launched next-generation FODZYME, a new patent-pending enzyme component that helps people enjoy the foods they love, wherever they are.
- In November 2020, Maxilact Super lactase enzyme was launched by Royal DSM. The new product is suitable for all dairy products and will allow dairy manufacturers to create healthy and lactose-free products.
Key Companies Profiled by Fact. MR
- Symrise AG
- DSM Chemicals
- Chr. Hansen Holding A/S
- Biolaxi Corp.
- Novact Corp.
- Advanced Enzyme Technologies Limited
- DuPont de Nemours and Company
- Merck KGaA (Sigma-Aldrich)
- Natural Factors Nutritional Products Ltd.
- Mitushi Biopharma
- Novozymes A/S
- Sternenzyme
- Infinita Biotech Pvt. Ltd.
- Calza Clemente
- Senson
- Nature BioScience Pvt. Ltd.
- Aumgene Biosciences
More Valuable Insights on Lactase Enzyme Market
In this report, Fact.MR highlights a key segment expected to drive the growth of the global lactase enzyme market during the forecast period (2023 to 2033). The study provides an examination of growth drivers likely to drive lactase enzyme sales through detailed segmentation, including:
Product Type:
- Fungal Lactase Enzymes
- Neutral Lactase Enzymes
Form:
- Dry
- Liquid
End Use:
- Food & Beverages
- Dietary Supplements
- Pharmaceuticals
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa
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Key Questions Covered in the Lactase Enzyme Market Report
- What will be the demand outlook for the lactase enzyme market during the forecast period?
- Which are the challenges faced in the lactase enzyme market?
- Which region will lead the growth in the global lactase enzyme market during 2023 to 2033?
- What is the projected market valuation of the lactase enzyme market in 2033?
- Which are the factors driving the lactase enzyme market during 2023 to 2033?
- Which is the leading end-use industry in the global lactase enzyme market?
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Dairy Enzymes Market: The global milk enzyme market is expected to more than double by 2031. In 2021, the overall market for dairy enzymes was valued at US$ 700 million and by 2031 it is expected to touch a valuation of US$ 1.5 billion. Overall sales of dairy enzymes are slated to rise at a CAGR of 8% between 2021 and 2031.
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