The lactose market has been forecast to reach a value of US$1.4 billion by 2018, driven by growing consumption in food, pharmaceutical, animal feed, and fuel ethanol industries.
Consumption patterns are also expected to benefit from the growing demand for Lactose derivatives.
According to a recent market report, 'Lactose: A Global Strategic Business Report,' the United States represents the largest market worldwide, whilst Asia-Pacific is forecast to emerge as the fastest growing market with a projected compound annual growth rate (CAGR) of 2.5% through 2018.
A key by-product of the dairy industry, lactose is defined as disaccharide sugar derived from milk. Applications of lactose range from its use in the food industry to the pharmaceutical industry.
Developments in lactose manufacturing processes have enabled the production of lactose in various mesh/particle sizes, which in turn has helped expand applications in the food industry.
Availability of finer particle sizes, for instance, has encouraged the use of lactose in dry mix beverages and icings. The low glycemic index of lactose is triggering its increased use in nutritional products and the growing consumer emphasis on health and wellbeing is expected to benefit demand for lactose in health products in the coming years.
As a filling agent in capsule drug formulations and as a carrier for drugs, lactose is expected to benefit from the growing global sales of pharmaceuticals drugs.
Growing population, expanding base of aging individuals in the population mix, increasing prevalence of lifestyle and age-related disorders, increased spending on healthcare are all factors indirectly benefiting demand for lactose in the pharmaceutical industry.
The growing popularity of Inhalation-Grade Lactose and increased R&D investments in this space are forecast to drive demand further in the pharmaceutical end-use industry. Dry Powder Inhalers (DPIs) especially will spur consumption patterns, since lactose is used as a bulking agent to enable easy powder suction during inhalation.
For more information on the lactose market, see the latest research: Lactose Market
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