Global Lactase Enzyme Market, By Type (Neutral Enzymes, Fungal Enzymes), Form (Liquid, Dry), Application (Food and Beverage, Dietary Supplements, Pharmaceuticals), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Lactase Enzyme Market
The lactase enzyme market is expected to witness market growth at a rate of 8.0% in the forecast period of 2021 to 2028 and is expected to reach USD 401.65 million by 2028. Data Bridge Market Research report on lactase enzyme market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for lactose-free products is escalating the growth of the lactase enzyme market.
Lactase enzymes refer to an essential catalyst which is produced by microorganisms that assist in breaking down lactose among consumers with lactose tolerance. These enzymes are often added to food products, beverages, dietary supplements and pharmaceutical products in dry or liquid form.
The increase in demand for lactose free dairy products because of the growing number of lactose intolerant population globally is one of the major factors driving the lactase enzyme market. The rise in usage of enzymes in pharmaceutical applications and introduction of new products which are low-fat, low-sugar and rich in vitamins, proteins and fibers by dairy manufacturers accelerate the lactase enzyme market growth. The increase in number of collaborations and merges among manufacturers in order to increase the availability of lactose-free products and higher inclination towards lactase based products over plant-based alternatives due to varying taste preferences of consumers’ further influence the lactase enzyme market. Additionally, growing consumption of high-quality foods providing natural taste or flavor, increase in demand for various lactase based delicacies such as ice-cream, rise in prevalence of lactose intolerance among population, research and development activities and expansion of end user industries positively affect the lactase enzyme market. Furthermore, research and development activities extend profitable opportunities to the lactase enzyme market players in the forecast period of 2021 to 2028.
On the other hand, lack of technical expertise for lactase extraction and issues with the lactase enzymes’ stability are the factors expected to obstruct the lactase enzyme market growth. The impact of COVID-19 on the supply chain of the product and concerns associated with the quality of enzymes are projected to challenge the lactase enzyme market in the forecast period of 2021-2028.
This lactase enzyme market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on lactase enzyme market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Lactase Enzyme Market Scope and Market Size
The lactase enzyme market is segmented on the basis of type, form and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the lactase enzyme market is segmented into neutral enzymes and fungal enzymes.
- On the basis of form, the lactase enzyme market is segmented into liquid and dry.
- On the basis of application, the lactase enzyme market is segmented into food and beverages, dietary supplements and pharmaceuticals.
Global Lactase Enzyme Market Country Level Analysis
The lactase enzyme market is analyzed and market size, volume information is provided by country, type, form and application as referenced above.
The countries covered in the global lactase enzyme market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the lactase enzyme market due to the high number of people with lactose intolerance or reduced tolerance, presence of prominent players and high awareness regarding the health problem. Asia-Pacific is expected to witness high growth during the forecast period of 2021 to 2028 because of the rise in the lactose intolerance cases, growth in awareness regarding the health issue and availability of lactose free foods.
The country section of the lactase enzyme market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Lactase Enzyme Market Share Analysis
The lactase enzyme market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to lactase enzyme market
The major players covered in the lactase enzyme market report are Chr. Hansen Holding A/S, Kerry Inc., Novozymes, Merck KGaA, DSM, Amano Enzyme Inc, Season, Advanced Enzymes Technologies, ENMEX, Antozyme Biotech Pvt Ltd, Nature Bioscience Pvt. Ltd, Aumgene Biosciences, Creative Enzymes, Biolaxi Corporation, Novact Corporation, Enzymes Bioscience Private Limited, Mitushi Biopharma, Infinita Biotech Private Limited among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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