The global Lactase market size is expected to be worth around US$ 276.3 million by 2027, according to a new report by Vision Research Reports.
The global Lactase market size was valued at US$ 185.1 million in 2019 and is anticipated to grow at a CAGR of 5.0% during forecast period 2020 to 2027.
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rising product development & innovations in other application areas, are expected to drive the market growth. Lactase is predominantly used in the food & beverage application, majorly consumed as dairy enzymes, as it makes the dairy products lactose-free by reducing and/or eliminating the lactose content. The growing cases of lactose-intolerance across the globe is one of the key factors augmenting the product demand.
Increasing awareness among individuals regarding health and wellness has led to a rise in consumption of enzyme-based foods, such as milk powder, butter, infant milk formula, and sour cream; which not only adds useful nutrients to the diet but also improves digestion. The ability of the lactase enzymes to maintain freshness and increase the shelf-life of projected to further augment the market growth.
Report HighlightsIn terms of revenue, the yeast segment accounted for the largest market share of over 443% in 2019 and will expand further at a steady CAGR from 2020 to 2027 due to the high demand for yeast-based lactase in dairy processing and dietary supplements industries Food & beverages was the largest application segment in 2019 owing to extensive product usage in milk, condensed milk, ice-cream, cheese, milk powder, and yogurt North America is anticipated to exhibit steady growth over the coming years on account of rising cases of lactose-intolerance in the region In addition, factors, such as nutritional benefits and easy digestibility, have resulted in the growing adoption of lactose-free products in North America Key companies are adopting various strategies, such as clinical trials, new product launches, M&A, and R&D investments to increase their market share However, the lack of technical expertise and high processing cost of lactase extraction is projected to inhibit the industry growth In May 2019, Chr. Hansen Holding A/S launched LACTOSENS R, a lactose biosensor test kit to document lactose concentrations across all dairy applications
Key PlayersMitushi Biopharma Rajvi Enterprise Infinita Biotech Pvt. Ltd. Aumgene Biosciences DuPont Antozyme Biotech Pvt. Ltd. Novact Corp. Biolaxi Corp. Creative Enzymes Nature BioScience Pvt. Ltd. ENMEX Advanced Enzyme Technologies Amano Enzyme Inc. Senson Merck KGaA Novozymes DSM Kerry Inc. Chr. Hansen Holding A/S
Lactase Source OutlookFungi Yeast Bacteria
Lactase Form OutlookPowder Liquid
Lactase Application OutlookFood & Beverages Milk Cheese Yogurt Others Dietary Supplements Pharmaceuticals
Lactase Regional OutlookNorth America The U.S. Canada Mexico Europe Germany The U.K. France Spain Italy Asia Pacific China Japan India Australia & New Zealand Central & South America Brazil Argentina Middle East & Africa UAE
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