Global Lactose-free Products Market Size to Grow at a CAGR of 8.6% in the Forecast Period of 2023-2028
The ‘Global Lactose-free Products Market Size, Share, Analysis, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global lactose-free products market, assessing the market on the basis of its segments like source, product type, distribution channel, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Lactose-free Products Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 8.6%
Rising cases of lactose intolerance along with increasing health consciousness among individuals is expected to drive the growth of the global lactose-free products market. Lactose-free products are an ideal alternative for people suffering from lactose intolerance as they help them to supplement their food choices as well as meet their nutrient requirements. The widening health appeal of lactose-free products among those who are not lactose intolerant is also expected to contribute towards the growth of the market.
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Increased availability of better quality and larger variety of lactose-free products has enabled consumers to have a wide range of options to choose from, this in turn has contributed towards the rapid growth of market for lactose-free products. With improved quality and increased variety, several households have switched completely to lactose-free products, especially in those cases where certain family members are lactose intolerant. These consumer behaviours are expected to bolster the lactose-free products market.
Growing disposable incomes and growing health concerns among individuals have also increased the consumption of lactose-free products because of their low-calorie profile. Over the forecast period, the anticipated increase in prevalence of lactose intolerance and improved diagnostics of the condition are expected to offer significant growth opportunities to the lactose-free products market.
Lactose-free Products Industry Definition and Major Segments
Lactose is the disaccharide sugar found naturally in dairy milk and milk products. Lactose-free products refer to those products that do not have lactose in them or minimal levels of lactose and are commonly used by individuals who suffer from lactose intolerance. In lactose intolerance, individuals are unable to properly digest lactose and often feel bloated, nauseous and gassy after consuming milk or products with lactose.
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On the basis of source, the market is bifurcated into:
• Conventional
• Organic
Based on product type, the market is classified into:
• Lactose-Free Dairy
• Lactose-Free Bakery
• Lactose-Free Confectionery
• Lactose-free Infant Formula
• Others
On the basis of distribution channel, the market is segmented into:
• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail
• Others
Based on region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Lactose-free Products Market Trends
The key trends in the global lactose-free products market include improvements in flavour and taste profiles of lactose-free products along with improved nutritional content of the products. Introduction of different flavours is likely to increase the popularity of lactose-free products among lactose intolerant kids and teenagers. Whereas, improved nutritional content is expected to attract health-conscious individuals and parents worried about the nutritional intake of their children.
Widespread availability of lactose-free desserts such as ice creams, gelatos, and yogurts, among others, is another crucial trend in the lactose-free products market. Dining out has evolved into a significant aspect of the social life of the youth, with increasingly frequent visits to dining joints, coffee shops, and restaurants. The inclusion of lactose-free food products on menus has significantly improved the dining experience for lactose intolerant individuals and is expected to favour the growth of the market.
In regional terms, North America and Europe are expected to account for a significant portion of the market, owing to growing health concerns among the population, increasing cases of lactose intolerance, and rise in disposable incomes. Meanwhile, the growing percentage of lactose intolerance cases in the Asia Pacific is further expected to contribute towards the market growth.
Key Market Players
The major players in the global lactose-free products market report are Nestlé S.A., Cargill, Incorporated, Green Valley Creamery, Valio Ltd, Arla Foods amba, Gujarat Cooperative Milk Marketing Federation Ltd., and HP Hood LLC., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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