LONDON--(BUSINESS WIRE)--The lactase enzyme market size is poised to grow by USD 118.42 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
A key factor driving the growth of the market is the growing collaborations which is increasing the availability of lactose-free products. The increasing prevalence of lactose intolerance and preference of consumers for natural and enzyme-based dairy products have encouraged vendors to improve their product portfolio and production volume of lactose-free products. Vendors are increasingly focusing on improving the production of lactose-free products through strategic alliances. For instance, in April 2018, in Italy, Granarolo, a diary company, collaborated with ENEA to create G+ Milk, a low-sugar lactose-free milk product.
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As per Technavio, the rising awareness about lactose-free products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Lactase Enzyme Market: Rising Awareness about Lactose-Free Products
The number of awareness programs about lactose intolerance is increasing owing to the need to educate individuals about this condition. Every year, February is celebrated as the Lactose Intolerance Awareness Month to spread awareness that individuals with lactose intolerance do not need to completely avoid dairy. These programs on lactose intolerance encourage people to ensure that they receive the essential nutrients provided by milk, cheese, and yogurt using lactose-free products. Thus, dairy producers are encouraged to increase the use of lactase to boost the production of lactose-free products, which, in turn, will drive the growth of the market.
“Other factors such as the extensive product development and the expansion strategies of vendors and establishment of new plants will have a positive impact on the growth of the lactase enzyme market value during the forecast period,” says a senior analyst at Technavio.
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Lactase Enzyme Market: Segmentation Analysis
This market research report segments the lactase enzyme market by application (F&B, Dietary supplements, Pharmaceuticals) and geography (Americas, EMEA, and APAC).
The Americas led the lactase enzyme market in 2018, followed by EMEA and APAC respectively. The Americas is expected to maintain its dominance and register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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