Report Details-
Global Lactose-Free Market, By Type (Milk, Milk Powder, Yogurt, Ice-Cream, Butter and Cheese, Whey and Others), Category (Organic and Conventional), Packaging Type (Bottles, Cartons, Tubs and Others), Distribution Channel (Specialty Store, Supermarket/Hypermarket, Convenience Store and E-Retailers)– Industry Trends and Forecast to 2029
Market Analysis and Size
The growing lactose-intolerant population is driving the growth of the lactose-free market. Due to the expulsion of sugar, lactose-free dairy items have a lower calorie profile; this is driving the interest for lactose-free items among health-conscious people, which is expected to cultivate the lactose-free products market demand.
Data Bridge Market Research analyses that the lactose-free market was valued at USD 12.6 billion and is expected to reach the value of USD 32.21 billion by 2029, at a CAGR of 12.45% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Market Definitio
n
Lactose-free products are lactose-free food and beverages. Lactose-free products are commonly consumed by people who are lactose intolerant. Lactose is a type of sugar that is commonly found in milk and other dairy products. Lactose is not well broken down by some people, so lactose-free products are ideal for them.
Lactose-Free Market Dynamics
Drivers
Rising prevalence of chronic lifestyle diseases and intolerance to animal protein
One of the key factors driving market growth is the rising prevalence of chronic lifestyle diseases and intolerance to lactose based food. Furthermore, the widespread adoption of vegan eating habits around the world is propelling market growth. With rising consumer awareness of animal health and the prevention of cruelty to animals in the food industry, there is a shift in global preference for plant-based food products. As a result, the market has a more positive outlook.
Rise in social media marketing
Furthermore, the development of novel products, such as plant-based milk, eggs, and meat, is stimulating growth. These products are high in essential nutrients and taste almost identical to their animal-derived counterparts. Other factors, such as extensive promotional activities by celebrities and athletes to encourage the consumption of vegetarian products in order to maintain a healthy lifestyle and the ease of product availability via proliferating online retail channels, are expected to drive the market even further.
Opportunity
Rising food allergy and disease cases, rising consumer preference for natural and organic food sources, increasing availability of a wide variety and quality of lactose free products, growing penetration of e-commerce platforms, particularly in developing economies, and stringent laws to ensure high-quality organic milk production will all drive market value growth.
COVID-19 Impact on Lactose-Free Market
The COVID-19 pandemic has had a negative impact on a few businesses around the world, including the lactose-free market. While assessing post-pandemic client penchant changes, business needs have shifted to liquidation strategies and stock organisation, with usage at a halt and inventories piling up in stockrooms. Given the combined effect of outlet closures and balanced results as a result of the rapidly deteriorating monetary situation, market less usefulness made it one of the most seriously affected associations by the pandemic.
Recent Development
To meet the rapidly changing needs of buyers without lactose items, The Coca-Cola Company acquired the entire remaining stake in Fair-life LLC from its joint venture, Select Milk Producers, in January 2020.
Valio and Palmer Holland (US) entered into a joint venture in April 2020 to offer lactose-free powders in the US market.
Global Lactose-Free Market Scope
The lactose-free market is segmented on the basis of type, category, packaging type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Milk
Milk Powder
Yogurt
Ice-Cream
Butter and Cheese
Whey
Others
Packaging Type
Bottles
Cartons
Tubs
Others
Category
Organic
Conventional
Distribution channel
Specialty Store
Supermarket/Hypermarket
Convenience Store
E-Retailers
Lactose-Free Market Regional Analysis/Insights
The lactose-free market is analysed and market size insights and trends are provided by country, type, category, packaging type and distribution channel as referenced above.
The countries covered in the lactose-free market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America.
North America dominates the lactose-free market and will continue to do so during the forecast period due to rising R&D activities and rising demand for cream-based products and yoghurt.
Asia-Pacific is expected to post significant gains during the forecast period, with the highest CAGR owing to the growth and expansion of the food and beverage industry, rising rates of lactose intolerance, an ever-increasing geriatric population base, and rising personal disposable income.
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Competitive Landscape and Lactose-Free Market Share Analysis
The lactose-free market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to lactose-free market.
Some of the major players operating in the lactose-free market are:
Ø Bayer AG (Germany)
Ø Abbott (U.S.)
Ø DSM (Netherlands)
Ø DuPont. (U.S.)
Ø Amway (U.S.)
Ø The Nature's Bounty Co. (U.S.)
Ø GlaxoSmithKline plc. (U.K.)
Ø Nestlé SA (Switzerland)
Ø Mead Johnson & Company, LLC. (U.S.)
Ø Medifast, Inc. (U.S.)
Ø Premier Nutrition Corporation (U.S.)
Ø TOOTSI IMPEX Inc. (Canada)
Ø Health Food Manufacturers' Association (U.K.)
Ø NOW Foods (U.S.)
Ø Glanbia PLC (Ireland)
Ø Herbalife International of America, Inc. (U.S.)
Ø Bionova (India)
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Major TOC of the Report
· INTRODUCTION
· MARKET SEGMENTATION
· MARKET OVERVIEW
· EXECUTIVE SUMMARY
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