Lactose Market Size

Lactose Market Size

Lactose Market size was valued at around USD 2.3 billion in 2023 and is estimated to grow at a CAGR of 7.3% between 2024 and 2032. This robust market growth can be attributed to various factors, including ongoing advancements in lactose production, increasing consumption of dairy product, and growing demand for functional foods and nutraceuticals, among other contributing factors.

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Moreover, lactose is widely used in the pharmaceutical industry as an excipient in tablet formulations and dry powder inhalers. The growing pharmaceutical industry, driven by factors such as aging populations, increasing healthcare expenditure, and the prevalence of chronic diseases, contributes to the demand for lactose. With advancements in novel drug delivery systems and the development of new pharmaceutical products, the demand for lactose as a pharmaceutical ingredients continues to grow.

For instance, according to a recent United Nations (UN) research report, the number of people aged 65 and over globally is predicted to treble over the next three decades. The senior population is expected to reach 1.6 billion by 2050, accounting for more than 16% of the worldwide population.

Furthermore, technological advancements in dairy processing and lactose production have led to increased efficiency, higher yields, and improved product quality. Advanced manufacturing processes enable manufacturers to produce lactose more cost-effectively and sustainably, meeting the growing demand from various industries, thereby contributing to the market expansion.

Lactose serves as an important source of energy and nutrients, particularly for infants and young children. It also plays a crucial role in the flavor, texture, and nutritional profile of dairy products.