Growth Opportunities in the Market
Rising demand for lactose-free dairy products among the population: With the increasing number of people suffering from lactose-intolerance, the market for lactose-free dairy products is growing tremendously. This is creating great opportunities for the lactase enzyme manufacturers. There is increasing consumption of lactose-free yogurt and ice-cream. Yogurt is a popular dairy product with various health benefits, and the demand for the same is rising across the globe. This is expected to increase the application of lactase in yogurts at a significant rate during the review period.
R&D on the various sources of lactase extraction: Yeast is the major source of lactase extraction, and the majority of the manufacturers offer yeast-derived lactase. However, there is continuous research & development regarding other sources of lactase enzymes such as bacteria and fungi. Increasing evidences prove that plant-based lactase offers digestive health as much as animal-based lactase enzymes. Thus, increasing investment in R&D activities on the various sources of lactase enzyme creates an opportunistic market for the manufacturers to grow and expand.
Key Players
- 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)
- Nature BioScience Pvt. Ltd (India)
- Aumgene Biosciences (India)
- Creative Enzymes (US)
- Biolaxi Corporation (India)
- Novact Corporation (US)
Market Forecast
Global Lactase Market Share size is expected to be valued at USD 321.9 Million by 2027 at a CAGR of 6.7% between 2020 and 2027. The global Lactase Market Share has witnessed high growth in recent years with an increasing lactose-intolerant population. Lactose intolerance means the inability to digest a milk sugar component known as lactose, which causes several gastrointestinal symptoms such as flatulence, bloating, cramps, and diarrhea in some individuals. This results from a shortage of lactase enzymes, which break down lactose into simpler forms, glucose and galactose. Thus, dairy products manufacturers include lactase in the product, which predigests the sugar into glucose and galactose, making it easier for the consumers to digest. Rising awareness of lactose-free products leading to increased production of the products will result in increased growth of the Lactase Market Share in the coming years. Also, a rising inclination towards supplements among the lactose-intolerant population boosts the growth of the Lactase Market Share. Thus, the lactase suppliers are highly investing in product launches. For instance, in March 2020, Novozymes launched Saphera Fiber, a new lactase enzyme, to increase the content of fibers while also reducing sugar in fermented and non-fermented dairy products.
Table Of Contents
- EXECUTIVE SUMMARY
- MARKET INTRODUCTION
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Research Objectives
2.2.2. Assumptions & Limitations
2.3. Market Structure
- MARKET RESEARCH METHODOLOGY
3.1. Research Process
3.2. Secondary Research
3.3. Primary Research
3.4. Forecast Model
- MARKET LANDSCAPE
4.1. Supply Chain Analysis
4.1.1. Raw Material Suppliers
4.1.2. Manufacturers/Producers
4.1.3. Distributors/Retailers/Wholesalers/E-Commerce
4.1.4. Sources
4.2. Porter’s Five Forces Analysis
4.2.1. Threat Of New Entrants
4.2.2. Bargaining Power Of Buyers
4.2.3. Bargaining Power Of Suppliers
4.2.4. Threat Of Substitutes
4.2.5. Rivalry
Continue….
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