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Global lactase enzyme market: forecasted growth of USD 201.7 million by 2028

World 24.06.2024
Source: The DairyNews
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The global market for lactase enzymes is projected to expand by USD 201.7 million between 2024 and 2028, as reported by Technavio. During this forecast period, the market is expected to grow at a compound annual growth rate (CAGR) exceeding 5.57%.
Global lactase enzyme market: forecasted growth of USD 201.7 million by 2028

The growth is fueled by increasing consumer interest in enzyme-based foods, particularly lactose-free products, amidst rising awareness of lactose intolerance. However, the market faces challenges such as fluctuating enzyme prices.

The global lactase enzyme market growth is driven by increasing awareness of lactose intolerance, highlighted annually during Lactose Intolerance Awareness Month every February. Efforts by the NIH and Dietary Guidelines for Americans emphasize the nutritional benefits of dairy consumption, encouraging lactose-intolerant individuals to opt for lactose-free dairy products. Consequently, dairy producers are ramping up the use of lactase enzymes to meet this growing demand.

Simultaneously, the lactose market is witnessing significant growth due to heightened consumer demand for dairy products and increased awareness of lactose intolerance. Lactose-free and lactose-reduced dairy items like milk, cheese, and ice cream are gaining popularity, supported by the use of lactase enzymes in their production processes. This trend underscores the rising need for lactase enzymes in the dairy industry to cater to lactose-intolerant consumers.

However, the global lactase enzyme market faces challenges, particularly for smaller vendors dealing with high technological advancement costs. Major players like Kerry Group, DSM NV, and Novozymes maintain competitive advantages through substantial investments in research and development and patenting. These investments, however, contribute to higher lactase enzyme costs, potentially limiting affordability in economically sensitive regions and hindering market growth.

Addressing challenges in production efficiency and cost-effectiveness remains crucial for the lactase enzyme market. The adoption of modern biotechnological and genetic engineering techniques presents opportunities to enhance productivity and profitability. Moreover, differentiation through superior product quality and innovation is essential amid intense market competition.

In conclusion, the lactase enzyme market presents significant growth opportunities driven by increasing consumer demand for lactose-free dairy products. Strategic investments in technology and innovation will be pivotal in overcoming challenges and sustaining market expansion.

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