Global Galactose Market: Overview
Galactose is a simple form of sugar. It is found in nature as one of the three monosaccharides, the other two being Fructose and glucose. Galactose is a building block for the important sugar lactose, which is found in milk. Lactose is made up of one molecule of glucose and one molecule of galactose, linked by a chemical bond called glycosidic linkage. Apart from its presence in lactose, small quantities of galactose are also found in milk. Galactose is also found in peas. The human body can produce galactose from glucose, and hence it is not essential to include it in the diet. It has a low glycemic index, similar to fructose. Therefore, it is safe for diabetics in moderate quantities. Galactose can also be used as a food additive in sports drinks and chewing gums. It is also used as a dietary supplement.
Extensive usage of galactose in food & beverage is anticipated to drive the market in the near future. This is encouraging companies to increase production of galactose. Furthermore, easy availability of raw materials is anticipated to boost the demand for galactose during the forecast period.
Companies operating in the global galactose market are striving to develop new and better ways to manufacture galactose. Development of new manufacturing processes to produce galactose is estimated to propel the market in the near future. However, volatility in prices of raw materials is projected to hamper the galactose market during the forecast period.
Global Galactose Market: Key Segments
Based on type, the galactose market can be segmented into α-d-galactose, β-d-galactose and others. The α-d-galactose type segment is anticipated to expand at a significant pace owing to the rise in demand for high-quality galactose in emerging economies such as India and China.
In terms of application, the galactose market can be divided into food & beverage, sports, health care, and others. The food & beverage segment is estimated to expand at a considerable pace due to the rise in demand for health drinks in developed countries such as the U.S., Germany, and France.
Based on region, the global galactose market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America and Europe are anticipated to constitute a large share of the galactose market during the forecast period. The galactose market in Asia Pacific is likely to expand at a significant pace due to the rise in per capita income in developing countries such as China and India in the region. Rise in per capita income increases spending power of consumers, which further increases the demand for high-quality consumer products. This, in turn, fuels the galactose market in Asia Pacific. Middle East & Africa is expected to be an attractive region of the galactose market during the forecast period due to the rise in demand for galactose in health care applications in the region.
Global Galactose Market: Key Players
Prominent players operating in the global galactose market include CJ CheilJedang Corp, The FCAD Chemical Company, and E. I. du Pont de Nemours and Company. These players engage in research & development activities and strategic alliances and mergers & acquisitions to increase their market share.