Lactase Market Set To Hit USD 369.96 Million By 2032: With A 5.6% CAGR | Polaris Market Research

(MENAFN- GlobeNewsWire - Nasdaq) Growing progression in product advancements and inventions in several sectors is fuelling the market growth.

New York, USA, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Market Outlook:

The global lactase market size is predicted to grow from USD 226.56 million in 2023 to USD 369.96 million by 2032. It is anticipated to grow at a CAGR of 5.6% from 2024 to 2032, according to the latest research report by Polaris Market Research.

Market Introduction:

What is Lactase?

Lactase is an enzyme that disintegrates lactose, the sugar in milk. Some people don't make sufficient lactase and are inept to digest lactase on their own. Lactase divides lactose to make sugar, glucose, and galactose. People who are lactose intolerant can encounter cramps, diarrhea, and gas subsequent to taking in milk commodities. People use lactase for lactose intolerance. It is also utilized for colic, evolution, and advancement in preterm infants and several other conditions. However, there is no adequate scientific proof to reinforce these uses. Consuming lactose orally prior to taking in milk and milk commodities assists in ingesting lactose, a milk sugar. When consumed orally, lactase is seemingly secure when utilized with lactose-containing foods and is normally acceptable.

The lactase market is witnessing substantial demand owing to tactical augmentation into contemporary markets and dispensation channels are sanctioning firms to encounter the growing demand for lactase. For instance, in May 2022, Kerry Group Plc dilated its taste manufacturing potential in Africa. The augmentation sanctioned the group to advance justifiable nutriment solutions to improve its food, beverage, and pharmaceutical ventures in the region by easing the firm's growth of its lactase enzyme portfolio in the markets.

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Lactase Market Report Attributes:

Report Attributes	Details
Market value in 2023	USD 226.56 million
Market value in 2032	USD 369.96 million
CAGR	5.6% from 2024-2032
Base year	2023
Historical data	2019-2022
Forecast period	2024-2032

Critical Highpoints of Report:

• Various factors, including technological progressions in gadgets causing the advancement of lactose biosensor test kits for the food and beverage sector, are driving the market for lactase.
• The market is primarily segmented based on source, form, application, and region.
• North America dominated the market with the largest lactase market share.

Lactase Market Key Contenders:

• Advanced Enzyme Technologies
• Amano Enzyme Inc.
• Antozyme Biotech Pvt. Ltd.
• Aumgene Biosciences
• Biolaxi Enzymes Pvt. Ltd.
• IF
• Kerry Group plc

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Top Market Developments:

• Growth Drivers and Trends:
• Lactose Intolerance Awareness : The critical players are augmenting their commodity contribution into the market due to the growth in consciousness of lactose intolerance among persons worldwide. Additionally, firms are funding research and development to invent contemporary lactose commodities to allow for different consumer requirements.
• Lactose Intolerance Friendly Alternatives : Lactose-liberated commodities such as milk, ice cream, cheese, and more are increasing because of the growing consumer consciousness and inclination for lactose intolerance beneficial alternatives, which is supporting the lactase market growth.
• Introduction of Unprocessed Products : Dairy producers are widening their customer penetration through the initiation of unprocessed products that are low in fat and sugar while being elevated in proteins, fibers, and vitamins. The growing consciousness in the context of digestive health worries is anticipated to push the usage of lactase-dependent dietary supplements.

Which Region Spearheads the Lactase Sector?

• North America : North America dominated the lactase industry with the largest revenue share. The region's dominance in the market can be attributed to a notable aggregate of lactose-intolerant persons in the region. For instance, as per the National Library of Medicine, lactose intolerance is an existing condition among grown-ups, with roughly 30 million American grown-ups encountering some degree of lactose intolerance by the age of 20.
• Asia Pacific : Asia Pacific is anticipated to witness the fastest growth in the lactase market over the estimated period. This is due to the lactase enzyme acquiring economic importance due to the growing demand from the food and beverage industry and speedy industrialization in the Asia Pacific regions, especially in China, India, and Vietnam.

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Segmental Overview:

By Source Outlook:

• Yeast
• Fungi
• Bacteria

By Form Outlook:

• Dry
• Liquid

By Application Outlook:

• Food & Beverages
• Cheese
• Yogurt
• Milk
• Ice cream
• Others
• Pharmaceutical Products
• Dietary Supplements

By Regional Outlook:

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

Browse PMR's Lactase Market Report Coverage from Different Publications:

The global lactase market size is expected to reach USD 369.96 million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.6% during the forecast period (2024 - 2032).

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About Polaris Market Research & Consulting, Inc:

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