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Global Lactitol Market Size, Trends & Analysis - Forecasts to 2026 By Application (Food and Confectionery, Pharmaceuticals, Cosmetics, Oral-Care Products, Others), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Lactitol Market Insights
The global lactitol market is estimated to witness a high CAGR during the forecast period (2019-2026). Rising awareness regarding a healthy lifestyle among people of all age groups along with the rising global prevalence of diabetes are some of the major factors expected to propel the market growth during the forecast period. Approvals by several health and food regulation bodies across the globe and growing demand from food, pharmaceutical and cosmetics industry is also peopling the market growth. The low glycemic index property of lactitol is also boosting the product demand over the forecast period.
Lactitol Market: By Application
On the basis of application, the global lactitol market is segmented into food and confectionery, pharmaceuticals, cosmetics, and oral-care products among others. The food industry is expected to hold the largest market share during the forecast period. Growing demand of lactitol in ice-creams, baked goods, pre-prepared pasta, chewing gums, medical tablets, sugar-free foods, and candies among others is driving the market growth. The high consumption of these products globally will continue to drive sustainable demand for lactitol during the forecast period (2019-2026). The growing number of food processing industries along with changing customer’s preferences towards sugar products are some of the major factors driving the market growth.
Lactitol Market: By Product
On the basis of product, the market is segmented into tapes, labels, and graphic films among others. Tapes segment is expected to hold a significant market share during the forecast period. Tapes are extensively utilized for carton sealing in packaging sector. They are used in various assembly applications, such as electronic and automotive assembly units. These products are eco-friendly in nature and are light in weight compared to other products. Labels segment is expected to grow at a high CAGR during the forecast period. The demand for labels is driven by increasing consumption in different end-use industries, such as medical & healthcare, packaging, and electronics, electrical & telecommunication among others. The increasing branding and advertisement activities in major corporates and FMCG companies across the globe are driving the market of graphic films’ products during the forecast period.
Lactitol Market: By Region
Asia Pacific is expected to witness considerable growth in the lactitol market during the forecast period. Asia Pacific has emerged as the leading producer of lactitol. The expanding food & beverage sector and increasing foreign investments in the region are the major factors driving the lactitol market growth. North America is expected to hold the highest market share during the forecast period. The presence of leading food & beverage companies such as Nestle, PepsiCo, Tyson Food, and Coco-Cola among others is driving the market growth in the region. The presence of developed nations such as the U.S. and Canada along with growing prevalence of diabetics across the region is also driving the market growth.
Lactitol Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Nestle and BASF among others.
Lactitol Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the lactitol market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Lactitol Market Share & Competitor Analysis
Some of the key players operating in the lactitol market are Roquette Freres, Cargill, Inc., Sanxinyuan Food Industry Corporation Limited , Beckmann-Kenko GmbH , Fraken Biochem Co., Ltd. , A & Z Food Additives Co., Ltd., Ingredion Inc., and Atlantic Chemicals Trading GmbH among others.
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The global Lactitol Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Lactitol Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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