Lactase Enzyme Market: Food & Beverage Industry to Account for the Highest Market Share by 2028, Unveils Fact.MR
[UKPRwire, Wed Sep 04 2019] Fact.MR recently published a market research report, which forecasts that the Lactase Enzyme Market will envisage a healthy 4.4% volume CAGR during the period 2018-2028. The report projects the global demand for lactase enzymes for food & beverage applications to grow twice higher than that for its applications in dietary supplements through 2028. In addition, the report opines that the rise in demand for lactose-free food products, which also complies with shifting consumer preference for calorie- and sugar-reduced foods, will continue to prevail as a key growth influencer for the lactase enzyme market.
According to the statistics published by the U.S. National Library of Medicine, more than 65% of the global population develops lactose intolerance after infancy. High awareness about this health condition, coupled with growing trend of eating healthier in developed countries in North America and Europe is boosting demand for lactose-free foods, thereby favoring adoption of lactase enzyme. Meanwhile, over 90% of the East Asian adult population is highly prone to developing lactose intolerance, which represents high growth potential for lactase enzyme market in Asia-Pacific excluding Japan (APEJ). However, unawareness about the health condition and lower pervasiveness of lactose-free products are arresting the market growth in the region. Lower pervasiveness and awareness about lactose-free food products in emerging markets are likely to translate into untapped business opportunities for lactase enzyme manufacturers in developing countries, such as China, India, and ASEAN countries.
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To capitalize on the trend of healthy food consumption and potential growth opportunities in Asia Pacific, leading manufacturers in the lactase enzyme market are modifying their business strategies. DuPont Nutrition & Health recently unveiled its plans to leverage the tremendous growth potential of the nutritional snacking trend and rising demand for healthy food products, such as lactose-free dairy and yogurt, in the ASEAN region. Further, DSM – another leading manufacturer in the lactase enzyme market – declared its strategies to continue benefitting from the ongoing expansion of its dietary supplement and nutritional food ingredient businesses in China. Eventually, leading stakeholders in the lactase enzyme market are aiming to address the food & beverage industry by moving closer to local and regional customers in Asia Pacific in the coming future.
“Rising applications of lactase enzymes in the dairy industry are attracting new entrants in the lactase enzyme market, thereby intensifying the market’s competitive environment. Meanwhile, established stakeholders in the lactase enzyme market are developing high-quality lactase enzymes with better stability to attract a large customer base and maintain a competitive edge over others. By manufacturing lactase enzymes that enable smooth and quick transition into lactose-free dairy manufacturing processes, market players in the lactase enzyme market are aiming to gain a stronger position in the dairy industry. Using high-quality lactase enzymes can help dairy manufacturers to mitigate needs for investing in additional dairy processing equipment. Thereby, leading manufacturers in the lactase enzyme market are adopting advanced production technologies to deliver lactase enzymes with improved stability and high-performance characteristics,” says a lead analyst at Fact.MR.
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Demand for lactase enzyme drops is likely to remain much higher than that for lactase enzyme powder in the upcoming years. The Fact.MR report projects that the global sales of lactase enzymes in liquid form will be twice higher than those of its powder counterpart by the end of 2028. Liquid lactase enzymes, when used in manufacturing lactose-free food products, dissolve completely and leave less residual lactose, retaining the taste and texture of the food product, which is influencing salient strategies of stakeholders in the lactase enzyme market. Leading market players such as Novozymes, DuPont, and DSM, are marketing their liquid base lactase enzymes in various industrial sectors, especially in the F&B industry, to gain an edge in the lactase enzyme market in the coming future.