The lactose assay kit market is anticipated to record a CAGR of 8% during the forecast period, up from US$ 5.94 Bn in 2022 to reach a valuation of US$ 12.82 Bn by 2032.
Attributes
Details
Lactose Assay Kit Market Value (2022)
US$ 5.94 Bn
Lactose Assay Kit Market Projected Value (2022-2032)
US$ 12.82 Bn
Lactose Assay Kit Market CAGR (2022-2032)
8%
Sales of lactose assay kit are expected to rise as they are increasingly used in the food and beverage industry to determine the amount of lactose in various food and beverage products. In addition to this, demand for lactose assay kits is rising as it is a straightforward, convenient, and sensitive method for measuring lactose levels in a variety of biological samples (serum, plasma, other body fluids, food, growth media, etc.).
Lactose assay kits are a type of food testing kit used in the food and beverage industry to determine the amount of lactose in various food and beverage products. As a result, this is anticipated to increase the sales of lactose assay kit. The demand for lactose assay kit is also rising as it is suitable for high throughput tests. This is projected to contribute to the growth of the lactose assay kit market share.
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What are the Growth Propellers to the Lactose Assay Kit Market Share?
Lactose assay kit is extremely significant in the dairy industry. The rising number of food safety concerns has resulted in an increase in demand for lactose assay kit over the anticipated period. The demand for lactose assay kit in manufacturing businesses is also increasing due to rising customer knowledge about food consumption and nutrition.
The sales of lactose assay kit are anticipated to rise as lactose testing is a critical process for determining the amount of galactose and lactose in biological materials. Moreover, the demand for lactose assay kit is rising owing to the rise of lactose testing.
The rising demand for lactose assay kit can be ascribed to consumers' growing health consciousness. As the need for bakery products grows, so will the demand for lactose assay kit in the bakery industries for lactose analysis in their products. According to the National Institutes of Health, lactose intolerance affects 65 percent of the world's population. Lactose intolerance is more common among certain racial and ethical groups. This, in turn, is anticipated to increase the sales of lactose assay kit and boost the overall lactose assay kit market share during the forecast period.
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Which is the Leading Region in the Lactose Assay Kit Market?
As a result of the expanding lactose intolerant population, the market demand for lactose assay kit is particularly strong in the Asia-Pacific and European regions. Due to this rising demand, the sales of lactose assay kit is rising.
However, there is an increasing frequency of lactose intolerance around the world, which is further expected to drive up market demand for lactose assay kit. Growing health and fitness trends in the population are expected to fuel growth in sales of lactose assay kit throughout the forecast years.
The growing health consciousness among the public is pressuring food and beverage makers to follow severe food safety laws and regulations, which is likely to increase the sales of lactose assay kit in the near future. The amount of lactose intolerant people varies greatly by region, for example, more than 90% of Southeast Asians and 5% of Northern Europeans are lactose intolerant.
Who are the Key Players in the Lactose Assay Kit Market?
The major players in the lactose test kit market are focused on lactose assay kit innovation and development in order to give consumers improved efficiency and efficacy of food safety measurement equipment.
Some of the key players in the lactose assay kit market are Thermo Fisher, BioAssay System, Agilent, MERCK, Megazymes, Enzychrom.
Recent Developments
Chr. Hansen, an ingredient supplier, is responding to market expansion by launching the LactoSensR, a second generation lactose biosensor test kit. This lactose assay kit enables rapid and reliable documentation of low lactose or lactose-free claims for each batch.
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Report Scope
Report Attribute
Details
Growth rate
CAGR of 8% from 2022 to 2032
Base year for estimation
2021
Historical data
2015 – 2020
Forecast period
2022 – 2032
Quantitative units
Revenue in USD billion, and CAGR from 2022 to 2032
Report coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments covered
Buyer group, region
Regional scope
North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand
Country scope
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa
What is the Future of the Lactose Assay Kit Market?
As per the analysis, the lactose assay kit market share is likely to be US$ 12.82 Bn by 2032.
Which is the Key Driver in the Lactose Assay Kit Market?
Demand for lactose assay kit is likely to rise as it is a straightforward, convenient, and sensitive method for measuring lactose levels in a variety of biological samples (serum, plasma, other body fluids, food, growth media, etc.).
