Galactosidase Market Size, Share & Industry Analysis, By Type (Alpha Galactosidase, Beta Galactosidase), By Application (Food, Pharmaceutical, Feed, Others) and regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The galactosidase is an enzyme and is produced from many varieties of sources such as plants, animals, and microorganisms. It can be used either in the immobilized or soluble forms. The galactosidase comprises of alpha-galactosidase and beta-galactosidase. The alpha-galactosidase is used for catalyzing the hydrolysis of substrates that has α-galactosidic residues which include glycoproteins and glycosphingolipids. Whereas, the beta-galactosidase hydrolyses the lactose into glucose and galactose. Furthermore, galactosidase is used for the removal of lactose, biosynthesis of transgalactosylated products, and in the manufacturing of prebiotics. It finds its application in the food, pharmaceutical, and feed applications.
The rising demand for alpha-galactosidase and beta-galactosidase will lead to a surge in the galactosidase market growth during the forecast timeline. The alpha-galactosidase is an enzyme that catalyzes various catabolic processes such as glycolipids, polysaccharides, and cleaving glycoproteins. It is also utilized in capsules and tablets. Whereas, the beta-galactosidase is mainly used in the food industry. By breaking down lactose in glucose, it is used in the production of energy and source of carbon which is further used in production of lactose free dairy products such as milk and cheese. Hence, rising demand for these end products will fuel the galactosidase market growth.
However, the high demand for galactosidase leads to supply-demand imbalance causing low availability. This further reduces the consumption of the product in many applications. Hence, this is anticipated to hamper the market growth.
Key Market Driver -
Rising use of alpha and beta galactosidase in various applications to drive the market growth
Key Market Restraint -
Lack of availability of galactosidase to restrict the market growth
Market Segmentation:
Based on type the galactosidase market is segmented into alpha galactosidase and beta galactosidase. Based on application, the market is segmented into food, pharmaceutical, feed, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Players Covered:
The key players in the galactosidase market includes Biocompare, Prospec-Tany Technogene Ltd., Megazyme Ltd., JINAN BESTZYME BIO-ENGINEERING CO. LTD., Novozymes, Amano Enzyme Inc., Advanced Enzymes, QA-Bio, Bestochem, ISU ABXIS, Pharming Group, Protalix Biotherapeutics, and Aumgene Biosciences.
Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenarios
- Porters Five Forces Analysis
Regional Analysis:
Europe is anticipated to witness sustainable growth in the galactosidase market during the forecast period. The growth is due to the rising product demand in the food application. The rising adoption of alpha-galactosidase in the pharmaceutical application will fuel the market growth in North America, in which the US is the leading country. The rapid adoption of the beta-galactosidase in the milk-based products will fuel the market growth in the Asia Pacific. The Middle East & Africa is anticipated to witness significant growth, owing to the rising product adoption in the feed application.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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