Lactose-Free Products Market – Analysis with Ongoing Trends & Market Revenue
by Mit K. SEOAccording
to MarketsandMarkets, the global lactose-free
products market size 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. Emerging markets in upcoming economies such as Asia Pacific
and South American countries is going to be a potential market for the lactose-free
products manufacturers. The increase in per capita income and change in the
trends of healthy and safe food consumption is going to increase the share of
the market. These factors are projected to drive the growth of the lactose-free
products market during the forecast period.
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Lactose is
a type of sugar found in milk and other dairy products. An enzyme called
lactase is needed by the body to digest lactose. Lactose intolerance develops when
the small intestine does not make enough of this enzyme. There is a wide range
of lactose-free products available in the market such as milk, yogurt, cheese,
and ice-cream with the blend of different types of flavor. The industry has witnessed consistent growth in the
past few years.
In North America, the US is the largest producer of lactose-free
products market. Asia Pacific is projected to witness significant growth in the
global lactose-free products market, which is largely driven by the rising demand
for safe and healthy food products, especially from China and India. The lactose-free
products industry functions with legislators and regulators to deliver
qualitative products to its end users. In North America and Europe, the
self-diagnosis and awareness among lactose intolerant population is among the
major factors for augmenting the growth of the lactose-free products in the
region.
Lactose-free products mostly include flavored milk,
cheese, ice cream, and yogurt. There is an upsurge in the consumption of milk
and milk products in developing countries, where the lactose-free products manufacturers
can find the potential market for expansion. Increasing population, increasing
demand for convenience food, and increase in disposable income are the major
driving factors for the lactose-free products growth.
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Asia-Pacific
projected to witness the fastest growth in the lactose-free products market
during the forecast period due to the awareness among population for lactose
intolerant and globalization of business and technological innovations. Also,
due to natural sweetening taste of lactose-free products, consumers are
inclined towards lactose-free products.
The milk by
type segment is the dominating for the lactose-free market. Lactose- free
milk is a rich source of protein, calcium, phosphorus, vitamin B12, riboflavin,
and vitamin D. Therefore, lactose-free milk constitutes high nutritive value which
is demanded by the health-conscious costumers.
The no
added sugar products/ reduced sugar claims form of the lactose-free products
will witness significant growth rate during the forecast period. 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 sugar or no added sugar claims.
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Created on Mar 8th 2021 05:56. Viewed 281 times.