Global Lactose Monohydrate Market: Overview
Lactose monohydrate refers to the crystallized form of milk powder. The organic compound is extensively used as a filler for tablets and capsules in the pharmaceutical industry. The product is also often referred to as milk sugar in industrial circuits as it is essentially a disaccharide sugar produced from glucose and galactose found in milk. This report on the global market for lactose monohydrate presents a detailed overview of the market and its present state of growth. The report also presents a detailed overview of the various factors influencing the development of the market and are expected to have a significant impact on the future growth of the market over the period between 2015 and 2023.
Global Lactose Monohydrate Market: Drivers and Restraints
The global market for lactose monohydrate is chiefly driven due to the high demand from the burgeoning food and beverages and pharmaceutical industries. The market is also expected to be significantly driven by the increased usage of the product in cosmetics. However, the market is challenged by the easy availability of alternative products and the increasing preference of the global population to natural ingredients in food products. The market could witness growth opportunities in the form of innovative products with lactose monohydrate as the key ingredient.
Global Lactose Monohydrate Market: Market Potential
Lactose monohydrate is used across a wide range of applications in a number of industries such as cosmetics, pharmaceuticals, foods, beverages, and animal feed. The product has a bland flavor and is widely used as a stabilizer for a number of formulations. The product has better shelf life and is much cheaper than conventional animal milk. The product is often used in chocolates, ready to prepare and ready to eat foods, biscuits, candies, infant formulas, bread and other variety of bakery products, tablets capsules, and ice-cream to enhance flavor and aroma of the end product.
It also often finds use in animal feed and pharmaceuticals products as a filler owing to its excellent chemical and physical stability. Moreover, the product has excellent miscibility with other ingredients. Lactose monohydrate also finds extensive usage across a number of end-use applications owing to its cheap cost and long shelf life. Lactose monohydrate is, in fact, one of the most widely used and commonly available milk sugar owing to its easy solubility with water and stabilizing effects.
Global Lactose Monohydrate Market: Regional Overview
From a geographical standpoint, the market for lactose monohydrate in Asia Pacific is presently the leading producer as well as the dominant consumer of the product. The region is home to some of the world’s leading and rapidly expanding industrial economies, such as South Korea, India, China, and Japan. As a result, the region is a key market for lactose monohydrate across industries such as pharmaceuticals, cosmetics, and food and beverages. The rising population and increasing disposable incomes of the population, especially across India and China, are likely to lead to an increased demand for products from these industries and drive, in return, the demand for lactose monohydrate.
The demand for lactose monohydrate in North America is chiefly driven by the extensive use of the product in industries such as food and beverages and pharmaceuticals. The usage of lactose monohydrate in animal feed could also present attractive growth opportunities for the market for lactose monohydrate in North America. In regions such as Latin America and Africa, the market for lactose monohydrate is expected to flourish due to the healthy growth of the food and beverages and pharmaceuticals industries.
Some of the leading players operating in the global market for lactose monohydrate are Hummel Croton Inc., Sheffield Bio-Science Ltd., Merck Millipore, Meggle Group, Lactose India Ltd., and Mallinckrodt Baker Inc.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.