Lactose Market: Consumers’ Search for ‘Added Nutrition’ to Create Promising Opportunities
Lactose has been attracting the interest of the nutraceuticals and pharmaceuticals industry in recent times, as the global demographic continued to embrace the health & wellness trend. Our latest research finds that sales of lactose grew in excess of US$ 1.5 billion in 2018, and are set to record a Y-o-Y growth of over 3.5% in 2019. As the consumers’ quest for consuming more nutrition outside of their routine food grows, lactose evolves as the only source of galactose that meets the neural and immunological requirements of consumers. However, the fact that lactose intolerance found in millions of consumers dims the otherwise impressive scramble of lactose, which remains an uphill battle for the lactose manufacturers.
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Lactose Market to Harvest Opportunities Sown by Customization of Products and Watered by ‘On-the-Go’ Culture
Surge in the demand for lactose in food and beverages industries cannot be ruled out as trends of customized products continue to accelerate the already robust traction. Recent studies in dairy science and manufacturing technologies have paved way for the development of better, safer, and economical lactose-based solutions, which resonate with evolving preferences of consumers. Efforts of lactose manufacturers to alter the carbohydrate, fat, and cholesterol levels in dairy products that cater to specific consumer demands, will continue favor growth of the lactose market
The fitness trend has been on a notable rise, and more individuals have been partaking in sports and physical activities, be it to meet the weight loss goals or improve endurance. Additionally, focus on ‘taste’ and ‘flavor’ has been moving them past the consumption of milk and streaming a new trend of calcium-fortified beverages induced with lactose. This trend syncs with the ‘on-the-go’ culture adopted by consumers as beverages such as fruit juices, soya milk, soft drinks, sports drink, and even water can undergo the calcium fortification process with contents of lactose.
Calcium-fortified beverages have received a green signal from consumers, and manufacturers operating in food and beverages industry are inspired to expend more efforts towards the diversification of their lactose-based products; preserves and spreads are their latest offerings with lactose.
Lactose Sales in North America Buoyed by Growing Consumer Consciousness on Beauty & Health
Concentration of dietary supplements industry in North America and Europe has played a pivotal role in underpinning the growth of lactose market. Consumers’ behavior of ditching the conventional dairy products for their daily recommended nutrition intake has expended lactose manufacturers’ effort towards making the intake of nutrition as easy as popping a pill, which is received well by consumers of the region. Apart from adult nutrition, lactose has even touched the child nutrition arena with the development of infant formula that caters to the dual-working household demography. Consistent efforts put forth by lactose manufacturers to upgrade their infant nutrition products by offering the ease of swallowing and enhancing taste that closely mimics the human milk are seamlessly strengthening the customer base for the lactose market.
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As ‘eat to look fit’ mantra has caused a transition among consumers towards dietary supplements, F&B and cosmetics industries are enumerating applications for lactose. Concerns apropos of dietary fat and cholesterol have caused a switch from conventionally consumed milk to processed milk and dairy products that are altered with only the required nutrients and lactose forms it very basis. This has offered leeway to manufacturers for fostering product innovation by launching ‘consumer-centric’ lactose-induced food and beverages. Marketing becomes effortless for lactose-based products as awareness regarding the anti-aging benefits of lactose either availed by consumption or application on the skin and hair grows among consumers.
Multiple Players, Different Strategies, One Target – Competition Intensity to Turn up a Notch in Lactose Market
The competition present in the lactose market is at multiple levels. The top spots in the market are occupied by a handful of global players that account for a sizeable share of about 40-50%. With a view to armor their position in the market, quality remains their key weapon and the competition remains less intense in the top space. Collaborations with regional suppliers and distributors aid them to strengthen and widen their customer base. In contrast, players constituting the other tiers are investing to multiply their R&D centers and create an appealing product portfolio. Considering the broad scope of application that lactose boasts currently and the pace at which innovations are fueled, it is likely that the competition in the lactose market will only become intense during the forecast period.
The companies profiled in this study include BASF SE, E.I. du Pont de Nemours and Company, Fonterra Co-Operative Group Ltd., Glanbia Plc, Kerry Plc, Merck KGaA, Koninklijke FrieslandCampina N.V., Agropur Co-Operative, Alpavit Käserei Champignon Hofmeister GmbH & Co. KG, Avantor, Inc., Arla Foods, Tnuva Group, Zeria Pharmaceutical Co., Ltd., Hilmar Cheese Company, Inc., Hoogwegt Groep B.V., Meggle Group, Armor Pharma, Lactose Limited, Milei GmbH, Proliant Inc., Saputo Inc., and Tatua Co-Operative Dairy Company Ltd.
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