Impact of COVID-19 on the Lactase Market by Source, Form, Application, Region - Global Forecast to 2025 - ResearchAndMarkets.com

DUBLIN--()--The "Lactase Market by Source (Yeast, Fungi, Bacteria), Form (Liquid, Dry), Application (Food & Beverage, Pharmaceutical Products & Dietary Supplements), Region (North America, Europe, APAC, South America, RoW) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global lactase market is estimated to be valued at USD 217 million in 2020 and is projected to reach USD 298 million by 2025, recording a CAGR of 6.5%.

Factors such as rising cases of lactose-intolerance and growing demand from lactose-free dairy product manufacturers and increasing innovation and new product development in the application areas are projected to drive the growth of the lactase industry during the forecast period. However, the growth of the lactase market is inhibited by factors, such as shifting preferences toward dairy-free alternatives and high processing cost and lack of technical expertise for lactase extraction.

By source, the yeast segment is projected to hold the largest share in the market during the forecast period.

Yeast is a largely-used source for the extraction of lactase enzyme. Kluyveromyces lactis and Kluyveromyces fragilis (Sacchoramyces fragilis) are recognized as safe (GRAS) by the Food & Drug Administration (FDA). Therefore, lactase enzyme sourced from yeast finds major applications in the food & beverage industry, especially in the dairy industry.

By form, the liquid segment is estimated to be the fastest growing segment during the forecast period.

The liquid form of enzymes is generally less stable than the solid form, although it may have higher activity and better functionality than the powder form. It is directly used in the liquid form or sprayed and absorbed on a solid carrier. Among all applications, the liquid form of lactase enzyme is widely used in the food & beverage industry and pharmaceutical applications for products, such as syrups. Liquid lactase enzyme accelerates chemical, biological, and metabolic reactions by altering a reaction's efficiency and results in making the pharmaceutical product more efficient for human use.

By application, food & beverage segment is projected to hold the largest share in the market during the forecast period.

Food & beverage segment holds the largest market share in the lactase market owing to its importance in dairy applications for providing lactose-free products to lactose-intolerant consumers. The increasing inclination of consumers towards dairy products and growing awareness about lactose intolerance among consumers globally is driving the food & beverage segment.

The North America region is projected to hold the largest share in the market during the forecast period

The North America region is projected to hold the largest share in the market during the forecast period. The increasing consumption of dairy products, rising awareness about health consciousness among consumers and increasing willingness to spend on health-promoting products are some of the major factors driving the growth of lactase market in the region.

The lactase market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America, and RoW (Africa and the Middle East).

Market Dynamics

Drivers

  • Rising Cases of Lactose Intolerance and Growing Demand From Lactose-Free Dairy Product Manufacturers
  • Rising Innovations and New Product Developments in the Application Market to Drive the Demand for Lactase Enzyme

Restraints

  • Shifting Preferences Toward Dairy-Free Alternatives

Opportunities

  • Increase Demand for Lactase From Direct Consumers for Preparing Lactose-Free Products
  • Research & Development and New Sources of Lactase Extraction

Challenges

  • High Processing Cost and Lack of Technical Expertise for Lactase Extraction
  • Concerns Over the Quality of Enzyme Used in the Food & Beverage Industry
  • Impact of COVID-19 on the Supply Chain of Lactase

Company Profiles

  • Chr. Hansen Holdings A/S
  • Kerry Group
  • Koninklijke Dsm N.V
  • Novozymes
  • Merck Kgaa
  • Dupont
  • Senson
  • Amano Enzyme
  • Advanced Enzyme Technologies
  • Enmex
  • Antozyme Biotech Pvt. Ltd.
  • Nature Bioscience Pvt. Ltd
  • Aumgene Biosciences
  • Creative Enzymes
  • Biolaxi Corporation
  • Novact Corporation
  • Enzyme Bioscience
  • Infinita Biotech Private Limited
  • Rajvi Enterprise
  • Mitushi Biopharma

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900