The recent report by IMARC Group, titled “Lactose Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global lactose powder market reached a volume of nearly 798,557 Metric Tons in 2017, growing at a CAGR of 1.4% during 2010-2017. Lactose refers to the sugar found naturally in dairy products, namely milk and milk by-products. It is a major component of whey and helps in optimising milk calcium utilisation by boosting intestinal absorption and dairy protein assimilation. Lactose powder, obtained from milk, is a white, inert and water-soluble substance with a pH value of seven and sweet milky aroma. It consists of glucose, sugar and galactose molecules, and functions as a source of instant energy.
In the food and beverage industry, lactose powder is added as a coating to prepared foods in order to prevent caking, and as a filler in baked goods including breads, cereals, cookies, pancakes, etc. It is also used in frozen and canned products, such as dehydrated potatoes, soups and meal-replacement supplements, to prevent discolouration. The flourishing food and beverage industry currently represents the major growth-inducing factor for the lactose powder market. Further, lactose powder is employed as a coating or filler in over-the-counter drugs, such as throat lozenges, antacids and birth control pills. As the sales of these over-the-counter drugs are increasing, it is expected to catalyse the growth of the lactose powder market across the globe. Additionally, the demand for lactose powder is expanding worldwide as it is a major source of carbohydrates used in the manufacturing of infant formula. Some of the other major factors stimulating the market growth are affordability, easy availability and low level of sweetness as compared to other sweeteners. Looking forward, the market is projected to reach a volume of more than 857,806 Metric Tons by 2023.
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Market Summary:
- Based on application, food industry represents the largest segment, accounting for the majority of the global share. It is followed by the diet and sports nutrition, and pharmaceutical industries.
- On a geographical front, North America is the leading region in the global lactose powder market due to the flourishing food and beverage industry in the region. Other major regions include Europe, Oceania, Asia, Latin America, and Middle East and Africa.
- The competitive landscape of the global lactose powder market has also been examined with some of the key players being Lactalis Group, Nestle, Fonterra, Dairy Farmers of America, Land O’Lakes and Meggle Pharma.
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