Market Trends of Lactobionic Acid Industry
Major Application of Latobionic Acid in Pharmaceuticals and Health Industry Drives the Market
- Lactobionic acid is widely used in health-related products such as pharmaceuticals, antibiotics, and preservative solutions for organ transplantation. This preservation solution has been adopted worldwide as the gold standard clinical dissolution for organ perfusion in transplantation medicine. This helps suppress tissue damage caused by free radicals during organ storage.
- According to the Directorate General of Commercial Intelligence and Statistics (DGCI&S), Kolkata, India imported medicinal and pharmaceutical products to almost INR 357 billion (USD 4.69 billion) as of the fiscal year 2022. Until September 2023, India will import medical and pharmaceutical products of more than INR 318 billion (USD 4.18 billion) in the financial year 2023.
- Lactobionic acid act as a special high-affinity inhibitor compound of carbohydrate-binding proteins that promote vaccine-stimulated immune responses against breast tumors, possibly leading to tumor regression and improved survival outcomes. Lactobionic acid also works as a stabilizer of pharmaceutical formulations containing sensitive therapeutic components.
- Lactobionic acid is added to dietary supplements to prevent calcium deficiency pathologies. It aids in modulating gut microbiota, correcting dysbiosis, and treating a few critical human disorders, such as chronic infections, inflammatory bowel diseases, obesity, and cancer.
- According to Istat, in Italy, 23.7 million individuals suffered from at least one chronic disease in 2021. Owing to the abovementioned factors, the rising chronic disease cases propel the lactobionic acid market growth.
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North America is the Fastest Growing Region
- The emerging applications of lactobionic acid in cosmetic products act as a significant driving factor. North America is the fastest-growing and the third-largest market for lactobionic acid. The United States holds the region's major share of lactobionic production and consumption.
- The major share of lactobionic acid consumed in North America is exported from China and Europe to meet the demand. The region's primary application of lactobionic acid is in the medical and pharmaceutical industries. Proving to be a multifunctional value-added organic acid boosts its food and feed industry demand.
- After its approval to be used as a food additive in various food products by the United States Food and Drug Administration (USFDA), its demand in the food industry has grown significantly. According to Agriculture and Agri-Food Canada, retail sales of fortified or functional baby food in the United States amounted to approximately USD 2.79 billion in 2021.
- Moreover, consumers nowadays focus on the ingredients and how their food is produced and sourced and are willing to pay a premium price for natural products. According to Organic Trade Association, in 2021, United States customers spent approximately USD 71.4 per person on organic packaged food and beverages. Lactobionic acids are used as a stabilizer and have antioxidant properties.
- Increasing spending on functional food products, a growing number of sports and gym enthusiasts, and consumers looking for healthy and sustainable food options are key reasons expected to augment lactobionic acid growth over the forecast period.
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