05 November 2020
Visiongain has published a new report on Alpha Lactalbumin Market Report: Forecasts by Product Type (Human Alpha Lactalbumin, Animal Alpha Lactalbumin), by Application (Infant Formulae, Dietary Supplement, Pharmaceuticals, Dairy Products, Bakery & Confectionery, Meat & Poultry, Sports Nutrition Products, Others), PLUS Profiles of Leading Amino Acid Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.
Global Alpha Lactalbumin market was valued at US$ XX million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Growing awareness about the nutritional benefits of alpha lactalbumin among consumers is a major factor supporting market growth of Alpha Lactalbumin in key geographies.
COVID-19 Impact on Alpha Lactalbumin Market
The outbreak of COVID-19 has had a moderate impact on the FMCG and healthcare industry. This is because, business falling under these industries are tagged as essential commodities. The COVID-19 outbreak has urged governments of several countries to impose stringent lockdowns and restrict movement of the people. However, retail stores were allowed to stay open, albeit for limited hours. However, few product such as bakery products, confectionery products, and sports nutrition products have witnessed moderate slowdown in sales, as consumers heavily restricted their purchases during these times. The slowdown in sales of these products have disrupted the entire value chain of these products, thereby negatively affecting sales of alpha lactalbumin.
Growing Consumption of Dairy Products
Demand for milk products such as butter and cheese is directly proportionate to the population, i.e. the rise in population complements the demand for such products. The dairy industry is highly localized given the perishable nature of milk India ranked first in terms of milk consumption, which stood at 77,680 thousand metric tons in 2019, followed by the U.S., where milk consumption stood at 21,780 thousand metric tons in the same year. In India, the dairy industry is an economic engine of the country. In India, a major chunk of the population is vegetarian, and their diet mainly depends on dairy products. The dairy industry in the country is one of the few industries that was not affected by the COVID-19 pandemic, and the stringent lockdown that was imposed in the country, since the government allowed the sale of milk and dairy products at times when all retail stores were forced to stay closed due to the pandemic. The unhindered sale of dairy products even during the pandemic, resulted in a strong growth of the alpha-lactalbumin market in the country. Further, consumption of cheese is another key factor supporting market growth of alpha-lactalbumin. Denmark, Iceland, Finland, France and Germany are the major cheese consuming countries within the EU, and the average per capita consumption of cheeses stood at 26.5 kg in 2019. Further, milk consumption in the EU stood at 33,400 thousand metric tons in the same year. These factors are greatly contributing to the growth of the alpha-lactalbumin market in the EU and Asia.
Negative Effects of COVID-19 Pandemic Slowing Down Sale of Sports Nutrition Products
The sports nutrition industry witnessed a slowdown in sales due to the coronavirus pandemic, and the lockdown imposed by governments of several countries. The U.S. is one the countries, worst affected by the coronavirus pandemic. As coronavirus cases surged across the country, high demand for CPG products including sports nutrition products were visible. During the early stages of the pandemic, demand for sports nutrition products went up as a result of panic buying. Consumers stockpiled their inventories with products that are shelf-stable, since the timeframe of the lockdown and future availability of food items were a big question. Since the initial surge, month-on-month sale of sports nutrition products declined due to lesser visits to the stores. Further, over time, during the pandemic, purchase pattern of consumers shifted towards essential products. Further, the closure of gyms have also affected the sale of sports nutrition products. Without gyms, several consumers’ daily use of sports nutrition products to supplement their workout is eliminated. In addition, the restriction imposed on the movement of people in the U.S. has resulted in lesser on-the-go occasions, which in turn resulted in the decline of sports nutrition RTD products. These factors have collectively resulted in the slowdown of the alpha lactalbumin market in the U.S.
Growing Lactose Intolerant Population Base
Lactose intolerance is the lack of ability to break down a form of natural sugar known as lactose. Lactose is found in dairy products such as yogurt and milk. As of 2020, close to 60% of the Indian population are lactose intolerant, and the number has risen quite steadily over the past few years. This is a major factor barring the growth of the alpha lactalbumin market in India. Further, the U.S. is another country with a high amount of lactose intolerant population. In 2019, approximately 26% of the white population (with Southern European roots) is suspected to suffer from lactose intolerance, while prevalence of lactose intolerant population, among the black, Native American and Asian American population is estimated at 75% to 80%. Lactose intolerance is very common in the U.S. This factor is a majorly barring the growth of the alpha-lactalbumin market in these countries
Some of the major companies operating in the space of alpha-lactalbumin include Arla Foods, Davisco International, Sigma Aldrich, Wyeth Nutrition and Abcam Plc among others. Merger & acquisitions, joint ventures & partnerships, product developments and expansions are some of the key strategies adopted by these companies in order to ensure long term sustenance in the alpha lactalbumin market. For instance, in January 2020, Arla Foods broke ground on its new state-of-the-art innovation center for the ingredients business in Denmark. This facility will allow Arla Foods to cater to the growing demand for specialty ingredients.
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17 December 2020
Growing awareness about the nutritional benefits of alpha lactalbumin among consumers is a major factor supporting market growth of Alpha Lactalbumin in key geographies.