Lactose Free Dairy Products Market Trends, Size, Competitive Analysis and Forecast 2019-2025
Posted: Jul 19, 2020
The global dairy industry is witnessing continual growth in terms of production and availability of diverse dairy products across all major regions. Owing to the popularity of consumption benefits of dairy products, at least one dairy product is being consumed by an individual on a daily basis, globally. This has in turn enabled many consumers to detect lactose intolerance, which does not allow proper digestion of dairy products. According to the data in 2019, around 65-70% of the global population is expected to be lactose intolerant.
Most of the consumers who face indigestion due to lactose intolerance go unnoticed and ignore the symptoms of the same. Many dairy consumers have also stopped consumption of dairy products to avoid uneasiness. This is evident from the declining milk consumption levels globally. For instance, in the U.S., milk consumption has plummeted by over 40% from 1975 to 2019, with consumption of 247 pounds per capita in 1975 to 149 pounds per capita in 2019. This has given rise to the popularity of lactose-free dairy products, which act as a solution to the growing lactose intolerance globally. Dairy products that are commonly used regularly are widely available in their lactose-free variant. These include milk (both white milk and flavored milk), yogurt, cheese, and milk powder, among others. The most upcoming product categories under lactose-free dairy products include ice creams and dietary supplements.
The increasing levels of lactose intolerance in the global population, urbanization, and disposable income have generated the need for consumption of suitable dairy products, such as the lactose-free dairy products. The healthy living and lifestyle trends amongst the affluent urban population also contribute to the adoption of lactose-free dairy products as a symbol of status in the society. In many countries, the growing café culture is a driving force behind the consumption of lactose-free dairy products, especially milk. Awareness about the benefits of lactose-free dairy products, such as ease in digestion, has influenced many consumers toward a wider consumption of lactose-free dairy products.
The demand for lactose-free products has enhanced multi-fold over time, with many consumers opting for the same even after self-diagnosis of lactose intolerance. Though low levels of awareness prevail in weaker economies, the need for such products has been growing exponentially. Since lactose-free dairy products are sold at premium prices, the consumer perception attached to the same involves a sense of following a trend accompanied with healthy living. Thus, many affluent sections of the population are actively opting for the same since consumption of premium products reflects a status symbol for the consumers.
The competitive landscape for the lactose-free dairy products market demonstrates an inclination toward companies adopting strategies such as product launches along with business expansions. The major established players in the market are focusing on product launches and developments to introduce new lactose-free dairy products and expanding their product portfolios in order to generate public awareness about the same. Valio Ltd., Arla Foods, Nestle S.A., and Lactalis Group are some of the prominent players in the lactose-free dairy products market that have been actively involved with such strategies. The market is moderately consolidated with the presence of many medium to large-sized companies that compete with each other and large enterprises.
For Sample Report, Click here: https://bisresearch.com/requestsample?id=931&type=download
The business expansion strategy has also been significantly employed in the lactose-free dairy products market. With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market. Key players are also engaging in business expansions, in regions where there is a strong demand for lactose-free dairy products. Industry leaders in this market are actively opting for this strategy to improve their market position. For instance, in February 2020, Arla Foods set up a new dairy plant in Sweden to export lactose-free dairy products to the U.K.
Bis Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.