Updated Jan 13, 2023 06:55

Lactose Market in Spain

Market Overview
For the fourth consecutive year, the Spanish lactose market recorded growth in sales value, which increased by % to $ in . Overall, consumption continues to indicate a relatively flat trend pattern. Lactose consumption peaked in and is likely to see steady growth in years to come.

In value terms, lactose production shrank notably to $ in estimated in export price. Over the period under review, production, however, continues to indicate slight growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by %. As a result, production reached the peak level of $. From to , production growth remained at a lower figure.


Consumption
In , approx. tons of lactose and lactose syrup were consumed in Spain; growing by % against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak volume of tons. From 2013 to , the growth of the consumption remained at a somewhat lower figure.

The value of the lactose market in Spain soared to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level in and is expected to retain growth in years to come.


Market Forecast
Depressed by shrinking demand for lactose in Spain, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Lactose market in Spain consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Spain remains a net importer of lactose; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.