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Global Lactose Free Dairy Products Market Analysis & Opportunity Forecast during 2017-2027
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The global lactose free dairy products market is projected to be dominated by the Europe regional market during the forecast period. It has been analyzed that, based on the production of lactose free dairy products, the Eastern Europe region is currently independent in dairy production. This target region alone produces more than 60 Mn MT of lactose free dairy products every year.
There are several companies from Eastern Europe that have also launched new lactose free dairy products. Moreover, the producers from the region are functioning towards the introduction of low cost lactose free dairy products in order to fulfil the demands of the health conscious population. On the other hand, there has been a major consumer shift towards the demand for organic food and beverages across the Western Europe market. This shift has occurred primarily due to rising awareness among consumers associated to unethical and synthetic ingredients from non-organic food and beverages products.
The consumption of dairy products is noted to be the highest considering the global population. However, alternative dairy products aren’t that popular among consumers and the preference for dairy products over alternatives like plant based products, does not suit fit with consumers. In addition, limitations in the utility of plant based dairy products over culinary food is yet another reason motivating the growth of lactose free dairy products at the global level.
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Focusing on the product type, the yoghurt segment acquired a value more than US$ 2,300 Mn in the year 2017. It is estimated that, by the end of the forecast period, this particular segment is likely to acquire a valuation over US$ 4,000 Mn, growing at a CAGR of 4.7%.
The yoghurt segment is expected to dominate in terms of value at the global level during the stated period with a revenue share of more than 20% as noted in 2017. This research study proves as a beneficial data source for new investors to frame vital plans for expansion in the global lactose free dairy products market in the coming years.
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