Lactose-Free Products Market is Going To Boom

The lactose-free products market 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. Factors such as the increasing awareness of lactose intolerance among consumers across regions and the growing demand for reduced added sugar or no added sugar products are projected to drive the growth of the lactose-free products industry during the forecast period. However, the growth of the lactose-free products market is inhibited by factors, such as high cost of lactose-free products and stiff competition from plant-based alternatives.

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Asia Pacific is projected to account for the largest market share 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 expensive and healthy food & beverage products, the increase in the westernization of consumer diets are some of the major factors driving the growth of lactose-free products in the region.

Key Market Players:

Gujarat Cooperative Milk Marketing Federation (India), Valio LTD (Finland), Danone Company S.A. (France), Nestle S.A. (Switzerland), The Coca-Cola Company (US), Johnson & Johnson Services, Inc. (US), General Mills, Inc. (US), Lifeway Foods, Inc. (US), Lala U.S. (US), Organic Valley (US).

The cheese segment is projected to witness significant growth during the forecast period

Based on type, the cheese segment of lactose-free products market is projected to witness significant growth rate during forecast period due to the increase in consumer interest and importance of lactose-free cheese as an ingredient in the food industry, as it offers similar nutritive values to regular cheese. In addition, it is among the popular and preferred breakfast ingredients, which is majorly consumed with breads and offer natural, as well as authentic taste.

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The inorganic segment is projected to account for a major share in the lactose-free products market during the forecast period

By form, the lactose-free products market is segmented into organic and inorganic. Low cost of products and ease in the processing of inorganic products are the key factors encouraging the high adoption of inorganic lactose-free products across the globe. Furthermore, the price of inorganic lactose-free milk is nearly half the price of organic lactose-free milk, which helps in catering to consumers that are not looking for premium products.

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Created on Jan 25th 2022 07:37. Viewed 210 times.

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