Lactose-Free Dairy Products industry Share, Analysis, Growth, overview and forecast to 2030.
Global lactose-free dairy
products market is growing continually. Market growth attributes to the rising
prevalence of lactose intolerance disorder worldwide. The lack of lactase
triggers the inability to absorb lactose or lactose malabsorption, leading to
symptoms of lactose intolerance, including diarrhea and bloating. Besides, the rising popularity of plant-based
dairy worldwide drives market growth. Moreover, the growing consumption of
lactose-free dairy products in food and beverage industries accelerates market
growth.
Market Research Future (MRFR), in
its recent COVID-19 analysis, asserts that the global lactose-free dairy
products market is estimated to reach USD 21.59 BN by 2030. While assessing
COVID-19 impact on various industries, MRFR mentions that the global
lactose-free dairy products market would register around 6.17% CAGR during the
forecast period (2023 -2030). Pervasively rising lactose intolerance disorder
among people boosts the growth of the market predominantly. The lactose-free
dairy products market size continues to grow as consumers seek dairy
alternatives that cater to lactose intolerance and dietary preferences.
Additionally, increasing
health-conscious populaces and rising consumer inclination towards vegan diets
creates enormous market demand. Furthermore, advances in manufacturing
technologies are anticipated to foster the growth of the market. Increased shelf
life of alternative dairy products compared to traditional dairy products is a
crucial factor in increasing consumer preferences.
Besides, substantial R&D
investments drive market growth exponentially. Availability of convenient
packaging and the expansion of distribution channels such as eCommerce
platforms drive market sales further. Increasing consumption of frozen desserts
like lactose-free yogurts and ice creams fuels the growth of the market.
On the other hand, the
availability of various counterfeited, low-cost products is a key factor
projected to impede the market growth. Nevertheless, increasing consumer
inclination towards vegan diets would support the growth of the market
throughout the review period, creating enormous market demand. Also, increasing
consumption of lactose-free dairy in the burgeoning food industry, including
bakery and confectionaries, provides impetus to the growth of the market.
Global Lactose-Free Dairy Products Market - Segments
The report is segmented into four dynamics;
By Product Type : Milk, Yogurt, Ice Cream, and others.
By Category :
Organic and Conventional.
By Distribution Channel : Store Based, Supermarket & Hypermarket, Convenience Stores, Non-Store
Based, and others.
By Regions : Americas, Europe, Asia
Pacific, and Rest of the World.
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Global Lactose-Free Dairy Products Market - Geographical Analysis
North America dominates the
global lactose-free dairy products market.
The largest market share attributes to the increasing lactose
intolerance occurrences among demographics.
Besides, the presence of a large number of industry players and
availability of innovative lactose-free dairy product lines in the region drive
market growth. Moreover, increasing consumer inclination for a vegan diet and
the rising popularity of plant-based milk is propelling the growth of the
regional market.
Europe stands second in the
global lactose-free dairy products market.
The region witnesses a rise in dairy alternative products consumers.
Market growth is majorly driven by augmented demand for health drinks made with
plant-based dairy products and increased exports of lesser calories drinks.
Besides, advances in derivation technologies and the rising prevalence of
lactose intolerance among demographics are estimated to increase the size of
the regional market.
The lactose-free dairy products
market in Asia Pacific is growing rapidly. Lactose malabsorption that leads to
lactose intolerance symptoms such as diarrhea and bloating is widespread in
Asia. Furthermore, increasing consumption of lactose-free dairy and plant-based
dairy products and changing consumer preference, drive the regional market
growth.
Global Lactose-Free Dairy Products Market - Competitive Analysis
Highly competitive, the
lactose-free dairy products market appears fragmented due to the presence of
several well-established players. To gain a larger competitive lactose-free
dairy products market share, industry players initiate strategies such as
mergers & acquisitions, expansions, and innovations/ product launch. They
make substantial R&D investments to drive product development activities
and improve their existing portfolio.
Investments assigned for
expansion plans are used to acquire or form partnerships with promising
companies from emerging markets. To expand footprint, they are also looking to
E-commerce, where they can not only sell their products but can also create awareness
among consumers.
Major Players
Players leading the global
lactose-free dairy products market include McNeil Nutritionals, LLC (US), Green
Valley Creamery (US), Valio International (Finland), Arla Foods a.m.b.a
(Denmark), Alpro (Belgium), Cabot Creamery Cooperative (US), The Danone Company
Inc. (France), Saputo Dairy Products (Canda), Dean Foods (US), Granarolo Group
(Italy), Smith Dairy Products Co.(US), Hiland Dairy (US), General Mills Inc.
(US), Nestle SA (Switzerland), and Mondelez International (US), among others.
Industry/ Innovation/ Related
News:
June 17, 2020 ---- Koita
Foods (UAE), announced its plans to enter Asian markets with its lactose-free
and plant-based dairy products. The company targets Asia’s large lactose
intolerant population with its range of lactose-free and plant-based dairy
products. Koita Foods will enter in South Korea and Singapore through
e-commerce first, followed by retail.
In August 2020 would launch its
lactose-free (dairy) products alongside its organic cow’s milk (dairy) and
plant-based (non-dairy) products. The company is also planning to enter US
markets soon. In addition to new market expansion, Koita Foods has recently
launched new products, including an organic coconut beverage and lactose-free
whole fat milk. An almond and oat blend beverage is also in the pipeline.
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are Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
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