Lactase Market

Market Leaders: CHR. Hansen Holdings A/S (Denmark) and Kerry Group (Ireland) Continue to Bring Innovative Lactase Products and Expanding Their R&D Capacities to Further Strengthen Their Presence in the Global Lactase Market

The lactase market size is estimated to be valued at USD 247 million in 2022 and is projected to reach USD 336 million by 2027, recording a CAGR of 6.3% during the forecast period in terms of value. Heavy investments are being made in R&D by global giants to manufacture lactase products for the pharmaceutical, dietary supplements and food and beverage industry . The global lactase market has realized opportunities in terms of growing cases of lactose intolerance, increasing health awareness and rising interest in functional foods.

Developed regions such as North America and Europe are the largest market for lactase because of increasing interest in healthy lifestyle, rising cases of lactose intolerance, growing market of healthy food and beverages and higher spending capacity. Lactase is well suited to pharmaceutical and dietary supplement usage as well as usage in dairy free food and beverage applications. It has gained widespread acceptance across the globe for helping in relieving symptoms of lactose intolerance and providing alternatives to people who cannot consume dairy for health reasons.

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Key players in this market include CHR Hansen Holdings A/S (Denmark), Kerry Group plc. (Ireland), Koninklijke DSM N.V. (Netherlands), Novozymes A/S (Denmark), International Flavors & Fragrances Inc. (US), Merck (Germany), Amano Enzyme (Japan), Advanced Enzyme Technologies (India), Novact Corporation (US), and Antozyme biotech Pvt. Ltd (US).

The existing players in the lactase market are focused on increasing their market shares. The top players in the market are concentrating on diversifying their product portfolio, increasing their market presence and uniting with various local and international partners to offer to manufacturers across the globe. The lactase market has many organized players at the global level and unorganized players at the local level in several countries. These players hold market share of 65-70%.

CHR. Hansen Holdings A/S is a Denmark-based global bioscience company. The company specializes in improving food and healthcare. It provides solutions for food, nutrition, pharmaceuticals, and agriculture. Its operating segments work include food cultures and enzymes and health and nutrition. The company is also working on creating solutions for plant health, animal health, human health. Their lactase products help in manufacturing of lactose free dairy products. Moreover, company has strong competence in R&D in each of its business segments. The company focuses its R&D operations on the development of new products and the improvement of existing products. In 2021, the company introduced its next-gen enzyme solution Sweety Y-3. Through this, added sugar content of yogurt can be reduced, and natural sugar can be enhanced. It helps maintain the quality of dairy products without added sugar. In 2021, CHR. Hansen Holdings A/S filed 22 patents. 75% of the company’s R&D expenditure is for new product developments. In addition to its strong R&D capabilities, it has a global presence and actively invests in research and application centers.

Kerry Group plc. (Ireland) is a global provider of taste and nutrition solutions for the food, beverage, and pharmaceutical industry. Kerry Group has an enzyme business that provides natural solutions for food, beverages, and animal nutrition. The company offers biolactase enzymes to cater to the dairy industry and human nutrition. To increase its market share, Kerry Group plc. in 2021 acquired enzyme manufacturing companies Enmex (Mexico) and c-Lecta (Germany) to establish itself in the nutrition and enzyme markets. The company has strong R&D capabilities and is utilizing 22 core technologies and 25 process technologies for creating innovative products for texturants, modulations, dairy flavors, pharma, and bio-preservation It also is present in several geographies as America, Europe, Asia Pacific, the Middle East, and Africa.

Related Reports:

Lactase Market by Source (Yeast, Fungi, and Bacteria), Form (Liquid and Dry), Application (Food & Beverages and Pharmaceutical products & Dietary Supplements), Region (North America, Europe, Asia Pacific, South America and RoW) - Global Forecast to 2027

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Lactase Market Size,  Share & Growth Report
Report Code
FB 7695
RI Published ON
11/10/2022
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