India: Lactose Market 2024

Lactose Market Size in India

In 2022, the Indian lactose market decreased by -5.6% to $X, falling for the second consecutive year after four years of growth. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Lactose Production in India

In value terms, lactose production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 16%. Lactose production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Lactose Exports

Exports from India

In 2022, lactose exports from India fell remarkably to X tons, waning by -62.5% compared with 2021. Overall, exports, however, posted measured growth. The pace of growth was the most pronounced in 2021 with an increase of 62%. As a result, the exports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, lactose exports declined rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2014 with an increase of 47%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped markedly in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for lactose exports from India, accounting for a 19% share of total exports. Moreover, lactose exports to the United Arab Emirates exceeded the volume sent to the second major destination, Nepal (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+19.1% per year) and the United States (+36.3% per year).

In value terms, Nepal ($X), the United Arab Emirates ($X) and the United States ($X) were the largest markets for lactose exported from India worldwide, with a combined 27% share of total exports. Bangladesh, Sri Lanka, Ghana, Sudan, South Korea, Pakistan, Iran, Vietnam, Kenya and Oman lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, Vietnam, with a CAGR of +172.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average lactose export price amounted to $X per ton, increasing by 37% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 43% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lactose Imports

Imports into India

In 2022, the amount of lactose and lactose syrup imported into India contracted notably to X tons, waning by -22.6% on 2021 figures. In general, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 32%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, lactose imports fell to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Canada (X tons) were the main suppliers of lactose imports to India, together accounting for 49% of total imports. The United States, Turkey, New Zealand, Israel, Denmark and Poland lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +248.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lactose suppliers to India were the Netherlands ($X), Germany ($X) and the United States ($X), together accounting for 64% of total imports. New Zealand, Israel, Canada, Turkey, Denmark and Poland lagged somewhat behind, together comprising a further 31%.

Poland, with a CAGR of +278.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lactose import price stood at $X per ton in 2022, growing by 20% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible curtailment. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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