Galactose Market

Key Points Covered in Demand for Galactose Market Study

• Galactose Market Growth Forecast for 2021-2031
• Historical Galactose Sales Analysis for 2016-2020
• Category-wise Assessment and Identification of Leading Segment
• Remunerative Regional Galactose Market
• Profiles of Leading Players and Market Share Analysis
• Galactose Market Competition Mapping
• COVID-19 Impact Analysis on Galactose Market

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2016-2020 Global Galactose Market Outlook in Comparison to 2021-2031 Growth Forecast

Increasing applications of galactose in various end-use industries such as pharmaceutical, food and beverage, health and personal care, cosmetics, and dietary supplement is anticipated to augment market growth in the forthcoming years.

Galactose is a critical component in biological and food research activities as it is used as an energy source by a variety of microorganisms. Furthermore, galactose is utilized in clinical trials to explore diseases such as hepatitis C, hepatitis cancer, and diabetic macular edema.

As per FMI, the global galactose market is poised to expand at a 5.6% CAGR between 2021 and 2031, in comparison to the CAGR of 4.6% registered between 2016 and 2020.

The ongoing COVID-19 crisis has negatively impacted sales of galactose in 2020. However, with many end-use industries are resuming their production and operation, FMI projects steady recovery of the global galactose market.

Owing to the health benefits derived from galactose, applications in the food and beverage industry are anticipated to continue rising over the forecast period. 

Will Applications of Galactose in Food & Beverage Industry Continue Increasing?

Growing demand for healthy food products among consumers is translating into increasing applications of galactose in the food and beverage industry. Plant-derived galactose is an instant energy-providing nutrient and helps in combating various neuron-related diseases.

Applications of galactose in the food and beverage industries account for the leading share in the market. As per FMI, galactose sales in the food industry will surpass US$ 2.8 Bn by 2031.

Catering to the burgeoning consumer demand, suppliers usually purchase galactose in bulk quantities for application in products like bakery goods, baby foods, dairy products, alcoholic beverages, fruit drink and juice.  

Increasing demand for clean label and certified food and beverage products is also influencing sales of galactose. Galactose is certified as non-GMO, gluten-free and low calorie, which in turn is gaining people’s trust, thereby fueling sales of galactose in the food and beverage industry.

What Role Does Social Media Play in the Global Galactose Market's Expansion?

The emergence of social media as a marketing tool has sparked interest in the consumer packaged goods (CPG) industry. The use of digital technologies connected with social media platforms are enabling consumers to gain product information, keep a track of promotions, and give adequate customer feedback.

This is encouraging galactose producing companies to utilize social media channels to boost their brand equity, consequently assisting the expansion of the plant-derived galactose and synthetic galactose market globally. 

How Will Increasing Demand for Galactose in Personal Care Industry Augment Growth?

Galactose has a lot of anti-inflammatory and probiotic properties, making it ideal for exfoliating and nourishing skincare products. Galactose belongs to the PHA family of chemical exfoliants, which is a new generation of well-known AHAs and BHAs.

PHAs mildly exfoliate the skin, making them suitable for usage on all skin types. The product is beneficial for people dealing with sensitive skin and other skin conditions such as eczema, rosacea, and dermatitis, resulting in increased sales of galactose in personal care industry.

Galactose also helps to minimize the appearance of dark spots and hyperpigmentation, and unlike other chemical acids like AHAs, it doesn't increase sun exposure. When swallowed and applied topically to the skin, the product has antioxidant properties, which means it can counteract the effects of excessive exposure to damaging free radicals, such as pollution, climate, central heating, and UV exposure.

All these factors are leading to a increase in application of galactose in the personal care industry.

Which Region Will Offer Lucrative Opportunities for Galactose Market Players?

According to FMI, total sales of galactose in North America are expected to reach increase exponentially through 2031.  

Demand for galactose is rapidly increasing in the North America due to the rise in the health-conscious population. Sales of plant-derived sugar are gaining momentum in the region mainly due to increasing vegan population.

Expansion of the food and beverage industry across North America is propelling scope for applications of galactose in the bakery, confectionery, dairy products, canned food, and carbonated.

Rising significance of healthier foods have encouraged food and beverage companies in North America to diversify their portfolios. Rather than investing resources and capital in developing these new portfolios in-house, F&B companies are acquiring smaller specialty food companies with a strong reputation. This trend is anticipated to offer lucrative opportunities for new entrants and existing market players in North America galactose market over the forecast period.  

Country-wise Analysis

Which Factors Are Driving Sales of Galactose in the U.S.?

The U.S. is projected to account for over 80% of the North America galactose market share in 2021. Expanding at a 3.5% CAGR, sales of galactose in the U.S. are anticipated to account for maximum demand in the North America market in 2031, finds FMI.

Increasing preference for low-calorie food products is propelling demand for galactose in the U.S. The market is anticipated to grow at a steady pace, in response to growing demand for instant energy products with lower calorie content. With the thriving dietary and nutritional supplement market, the sales of galactose in the U.S. are anticipated to remain high over the assessment period.

How Will Galactose Sales Fare Across the U.K.?

The U.K. galactose market is projected to grow at a 4.3% CAGR through 2031. Growth can be attributed to the rising awareness regarding consumption of chemically treated foods in the country.

Growing prevalence of health disorders such as blood sugar problems, weight gain, and increased risk of heart diseases is encouraging consumers to purchase naturally-derived sugars. This, in turn, is spurring demand for galactose in the U.K.

In addition to this, technological advancements in the food sector are leading to innovations in plant-derived and synthetic sugars. This is helping companies to widen the applicability of galactose in different food and beverage products like powdered drinks and mixers, canned foods, fitness snacks, and personal care products like serums, creams, etc.

Will China Continue Dominating the Asia Pacific Galactose Market?

The China galactose market is estimated to account for maximum sales in Asia Pacific. Expansion strategies adopted by key market players in China are resulting in lucrative growth prospects for new entrants in the country.

Increasing applications of naturally extracted food ingredients, coupled with growing demand for galactose from the pharmaceutical and personal care sectors are anticipated to drive sales of galactose in China over the forecast period. FMI has projected the market in China to grow at 4.8% CAGR through 2031. 

What is driving the Demand for Galactose in India?

According to FMI, India accounts for nearly one-fourth of the market share in South Asia.

The real money in the global food and beverage business is in emerging economies, which are quickly becoming opportunity hotbeds for a variety of worldwide markets, including galactose.

A rise in the basic standard of living is being driven by population growth, increased disposable income, and a high rate of urbanization are attractive some of the leading galactose market players to India.

Category-wise Insights

Why are Sales of Plant-Derived Sugar Increasing?

Based on source, plant-derived sugar is anticipated to command nearly three-fourth of the total galactose market share in 2031. Growing demand for natural and nutritious culinary component is encouraging manufacturers to incorporate plant-derived sugars, which in turn is driving sales of the same.

Plant-based galactose is provided by large industries such as The FCAD chemical company, Tereos Starch & Sweeteners, Suven Life science ltd, as well as small and emerging industries such as Nacalai Tesque Inc., Pfanstiehl Inc., and Zhejiang Yixin Pharmaceutical Co., Ltd.

Which is the Most Attractive Product Type of Galactose?

In terms of product type, the D-galactose segment is expected to command maximum sales in the galactose market over the assessment period.

Benefits of D-galactose such as increasing the assimilation and absorption of calcium, faster wound healing process , reduction in  inflammation, and prevention of eye cataract are driving its applications in the food and beverage, pharmaceutical and personal care industries.

Applications of Galactose in the Biofuel Industry to Continue Rising

Based on end-use, applications of galactose in the biofuel industry are anticipated to rise at a robust 7.9% CAGR during the forecast period.

Growing focus on alternative methods for energy generation from renewable sources in response to rising environmental concerns is propelling the applications of galactose in the energy sector.

Competitive Landscape

Leading players in the global galactose market are investing in research and development in order to bring new products and services to the market. In addition to this, manufacturers are pursuing strategic partnerships with end-users and regional distributors to growing consumer demand. For instance:

• In 2019, CJ CheilJedang Corp acquired Schwan's Company (25^th February, 2019) and Kahiki Foods company (29^th August 2018) to expand into different markets. Similar, recent developments related to companies offering in the galactose market have been tracked by the team at FMI, which are available in the full report.

Scope of Report

FAQs the Study Answers

• What is the current value of the global galactose market?

  The global galactose market is anticipated to reach US$ 26.1 Bn in 2021.

• At what rate did the global galactose market grow between 2016 and 2020?

  The global galactose market expanded at a 4.6% CAGR between 2016 and 2020.

• What are the key trends boosting galactose sales?

  Increasing demand for RTD/RTE products, along with increasing preference towards product transparency are driving sales of galactose.

• Which are the major countries driving demand for galactose?

  The U.S., the U.K., China, Japan and Canada are the major countries driving demand for galactose.

• What will be the demand outlook for North America galactose market?

  The North America galactose market is projected to grow at a 4.1% CAGR through 2031.

• What will be the galactose market share in Europe?

  The galactose market in Europe is anticipated to expand at a 4.9% CAGR over the forecast period.

• What is Japan’s contribution towards global galactose market?

  Japan is expected to account for over 5% of sales in the global market.

Market Segments Covered in Galactose Industry Analysis

By Source:

• Plant Derived Sugar
• Synthetic Sugar

By Product Type:

• D-Galactose
• L-Galactose

By Form:

• Powder
• Liquid
• Crystal

By End-Use:

• Food
  • Bakery Goods
  • Sweet Spreads
  • Confectionary
  • Dairy Products
  • Canned Food
• Beverage
  • Carbonated Drinks
  • Fruit Drink and Juice
  • Powdered Drinks and Mixers
  • Alcoholic Beverages
• Pharmaceuticals
• Personal Care
• Biofuel Industry
• Animal Feed Industry

Region:

• North America
• Latin America
• Europe
• Asia-Pacific
• Oceania
• Japan
• Middle East & Africa