Lactose-free Products Market: Growth, Analysis and Industry Insights
by Mit K. SEOAccording
to MarketsandMarkets, the lactose-free
products market is estimated to be valued atUSD 12.1billion in 2020and
is projected to reach USD 18.4billion 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 andthegrowing demand for reduced added sugar or
no added sugar productsare projected to drive the growth of the lactose-free
productsindustry during the forecast period. However, the growth of the
lactose-free productsmarket is inhibited by factors, such ashigh 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 productsmarketis 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)
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Research Coverage
This
report segmentsthelactose-free productsmarketon the basis oftype, 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
productsmarket, high-growth regions, countries, industry trends, drivers,
restraints, opportunities, and challenges.
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Created on Feb 2nd 2021 07:38. Viewed 322 times.