Lactose-Free Products Market: Market Growth, Analysis, Industry Insights
Posted: Jul 02, 2020
The lactose-free products market is projected to grow at a CAGR of 8.7% during the forecast period
According to MarketsandMarkets, the lactose-free products market is estimated to be valued at USD 12.1 billion in 2020 and is projected to reach USD 18.4 billion by 2025, recording a CAGR of 8.7%, in terms of value. Factors such as the increasing awareness of lactose intolerance among consumers across regions and the growing demand for reduced added sugar or no added sugar products are projected to drive the growth of the lactose-free products market during the forecast period. However, the growth of the lactose-free products market is inhibited by factors, such as high cost of lactose-free products and stiff competition from plant-based alternatives.
Leading players profiled in this report include the following:
- Gujarat Cooperative Milk Marketing Federation (India) • Valio LTD (Finland) • Danone Company S.A. (France) • Nestlé (Switzerland) • The Coca-Cola Company (US)• Johnson & Johnson Services, Inc. (US) • General Mills, Inc. (US) • Lifeway Foods, Inc. (US) • Lala U.S., Inc. (US) • Organic Valley (US) • Dairy Farmers of America, Inc. (US)
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By type, the milk segment is projected to hold the largest share in the market during the forecast period
Milk in general is amongst the most commonly consumed dairy products globally. Lactose- free milk is a rich source of protein, calcium, phosphorus, vitamin B12, riboflavin, and vitamin D. Lactose-free milk is produced by adding lactase to regular cow’s milk. The lactose-free milk tastes sweeter than regular milk because during the process of production lactase is added to lactose-free milk that helps in breaking down of lactose into two sugar forms namely; glucose and galactose. This is the key factor driving the growth of milk segment in lactose-free products market.
By form, the no added sugar or reduced sugar claims segment is estimated to the fastest growing segment during the forecast period
By form, the no added sugar or reduced sugar claims segment is projected to be the fastest-growing segment. Due to the increase in awareness about health concerns, such as obesity and diabetes, consumers witness a high demand for no added sugar or reduced sugar products. For catering to the changing demands of consumers, many players in the dairy industry are focusing on introducing lactose-free dairy products with reduced added sugar or no added sugar claims. The trend of using reduced added sugar or no added sugar drives the lactose-free products market. By Category, Organic segment is projected to be the fastest-growing segment during the forecast period
The change in consumer perceptions toward healthy eating, increasing health consciousness among consumers, and growing awareness about the nutritional benefits of organic products have encouraged the growth of organic lactose-free products market. The increase in consumer consciousness about clean products and concerns about health issues related to artificial products and health benefits pertaining to naturally produced organic food products are factors encouraging the growth of the organic lactose-free products market.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period
The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The significant growth of the economy in countries, rapid urbanization, an increase in demand for premium and healthy food & beverage products, and the increase in the westernization of consumer diets are some of the major factors driving the growth of lactose-free products in the region.
The lactose-free products market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America,and RoW (Africa and the Middle East)
This report segments thel actose-free products market on the basis of type, form, category, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape,pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the lactose-free products market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
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