NEWARK, Del, Aug. 29, 2023 (GLOBE NEWSWIRE) -- From 2023 to 2033, the market for lactose-free products is anticipated to expand at a CAGR of 5%. Several reasons are fueling the expansion of this market. In the upcoming years, it is anticipated that the market for lactose-free products is likely to expand at a steady rate. This market is expanding due to several factors, including rising lactose intolerance awareness, rising demand for accessible and healthful foods, and expanding lactose-free product availability.
Due to changing consumer tastes, the supply of lactose-free goods has increased dramatically. The expansion of the industry is also aided by the rising disposable incomes in developing nations and the elevated health consciousness in industrialized ones. There are still issues, such as the high cost of lactose-free products, a lack of knowledge in some areas, and competition from conventional dairy products.
Numerous opportunities exist, including growing into new markets, creating cutting-edge lactose-free products, and stepping up marketing initiatives. Industry participants must handle shifting consumer demands and maintain resiliency through prospective economic downturns.
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Key Takeaways
- The market for lactose-free goods is dominated by the United States, which holds a sizeable 32.5% of the market. This demonstrates how popular lactose-free solutions are with American customers.
- With a considerable proportion of 7.0%, Germany is a country with a sizable market for lactose-free goods. The popularity of dairy substitutes and the rising awareness of lactose sensitivity are both evident in the German market.
- With respective market shares of 2.3% and 1.4%, Japan and Australia have lesser market shares. As consumers become more health-conscious and look for alternatives to conventional dairy products, these statistics point to significant growth opportunities for lactose-free products in these areas.
- China is a sizable rising lactose-free product market with a 4.9% market share. The demand for lactose-free options among Chinese consumers is rising as disposable incomes and health awareness rise.
- Market shares of 6.1% and 6.8%, respectively, for India and the United Kingdom, show the substantial market potential for lactose-free goods. These numbers point to a rise in the demand for dairy substitutes and a trend in both nations toward healthier dietary options.
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Competitive Landscape
The market for lactose-free products is very competitive, with both big and small businesses vying for market share. The development of novel lactose-free products and growing awareness of lactose intolerance are projected to propel the market's growth at a healthy rate.
Key Companies Profiled in the Lactose-free Products Market
- Nestlé S.A
- The Coca-Cola Company
- Danone Company S.A.
- Johnson & Johnson Services, Inc.
- Lifeway Foods, Inc.
- Dairy Farmers of America, Inc.
- General Mills, Inc.
- Gujarat Cooperative Milk Marketing Federation
- Prairie Farms Dairy
Nestlé
One of the world's major makers of lactose-free goods is the multinational food and beverage business Nestlé, which is based in Switzerland. The company offers milk, yogurt, cheese, and ice cream among its lactose-free offerings.
Danone
Another significant competitor in the market for lactose-free goods is the French multinational food and beverage firm Danone. The company offers milk, yoghurt, cheese, and infant formula among its lactose-free goods.
The Coca-Cola Company
Minute Maid Lactose-Free Milk and Simply Lactose-Free Orange Juice are only a couple of the lactose-free beverages made by The Coca-Cola Company, a multinational beverage manufacturer.
General Mills
Yoplait Lactose-Free Yoghurt and Nature Valley Lactose-Free Granola Bars are only two examples of the lactose-free products that General Mills, an American food manufacturer, makes.
Key Developments
- Growing consumer awareness of lactose intolerance: The growing public awareness of lactose intolerance has opened a sizable market for lactose-free products. Since 65% of people worldwide suffer from lactose intolerance, there will likely be an increase in demand for lactose-free substitutes.
- Increased product variety: In response to consumer demand, producers have increased the range of products they provide in the lactose-free market. Consumers now have more options thanks to the introduction of new lactose-free items like cheese and ice cream, which also helps the market as a whole thrive.
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Lactose-free Products Market Segmentation
By Type:
- Milk
- Flavored Milk
- Regular
- Condensed
- Cheese
- Hard
- Cheddar
- Cottage
- Others
- Ice-cream
- Fats
- Confectionary Products
- Desserts
- Yogurt
- Drinkable
- Spoonable
By Form:
- Lactose-free
- No Added Sugar
- Reduced Lactose
By Nature:
- Organic
- Conventional
By Sales Channel:
- Food Service
- HoReCa
- Quick Service Restaurants (Sandwiches, fast casual, Coffee Shops)
- Retail
- Specialty Stores
- Hypermarket/Supermarket
- Convenience Stores
- Departmental Stores
- Grocery Retailers
- Online Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Explore FMI’s related ongoing Coverage on Food and Beverage Domain
Lactose-free Cheese Market Size: The global lactose-free cheese market size is set to accelerate at a CAGR of 8.4% during 2022-2032. It is anticipated to be valued at US$ 1,515.1 Mn in 2032.
Lactose-Free Butter Market Share: The global lactose-free butter market is estimated to reach US$ 311 million in 2023 and is projected to reach US$ 603 million by 2033.
Lactose Free Dairy Products Market Trend: The global lactose free dairy products market is expected to reach market valuation of USD 13.5 Bn by the year 2022, accelerating with a CAGR of 5.5% by 2022-2032.
Lactose Free Probiotic Yogurt Market Growth: The global lactose-free probiotic yogurt market is forecasted to be appraised at US$ 25.05 billion by 2032, up from US$ 13.6 billion in 2022, advancing at a CAGR of 6.3% during the forecast period.
Lactose and Derivative Market Analysis: The Lactose and Derivatives market is valued at USD 42.1 Billion in 2022 and is projected to grow at a CAGR of 4.1% during the forecast period, to reach a value of USD 62.9 Billion by 2032.
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