Lactose Free Butter Market is Booming Worldwide with Leading Key Players Like Cargill Inc., Corbion Inc., Kerry Group PLC, Chr Hasen A/S, Dupont, Kellogg Company, and General Mills, Inc

The consumption of lactose free butter and dairy foods is not only limited to nutritional needs, but is gaining importance because of the issues related to intolerances or allergies. Some consumers prefer these products as they are healthier for them than regular offerings, while others consume these products to avoid allergies or any other health related issues. Lactose-free butter helps to maintain lactase enzyme content in the body. Lactase is a type of enzyme produced in body to break down lactose in the body. The inability to digest lactose from milk and other dairy products is called lactose intolerance. This intolerance results in gas, bloating, and abdominal pain, when consumed in any form. Some types of food intolerance, including lactose intolerance are treatable. Lactose-free milk is an easy alternative, which helps eliminate many unpleasant symptoms related to lactose intolerance.

Global Lactose Free Butter Market by Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global lactose free butter market size was valued at $ 222.9 million in 2018, and is projected to reach $388.4 million by 2026, growing at a CAGR of 7.1% from 2019 to 2026. In 2018, North America accounted for nearly 40.7% share of the lactose free butter market.

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Over the years, general awareness among consumers about health and fitness has increased exponentially. They are now aware of the effects of lactose intolerance. To remain fit and healthy, consumers today are shifting toward dairy items that contain lactase, which is useful for lactose intolerant people and the overall quality of products.

The lactose free butter market is segmented into application, distribution channel, and region. Depending on the lactose free butter market analysis, application segment is categorized into household and commercial. Among these, the household segment accounted for a higher value share in 2018, owing to rise in demand for lactose free butter and dairy products from household consumers. On the basis of distribution channel, it is divided into supermarkets & hypermarkets, specialty stores, online retail stores, and others. The specialty stores segment accounted for a higher value share throughout the lactose free butter market forecast, owing to increase in sales of lactose free butter from specialty stores, thus increasing the market revenue.

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On the basis of region, the lactose free butter market is studies across North America, Europe, Asia-Pacific, and LAMEA. North America and Europe are known to be the dominant regions in the lactose free butter market. North America has witnessed higher rate of traction for different types of flavored lactose free butter in the dairy industry. Some of the key macroeconomic factors such as rise in internet penetration and surge in per-capita income also play an important role in the growth of the lactose free butter market.

There has been an increase in number of users on various social media sites, with rise in internet penetration. Taking this into consideration, most of the key market players strategize on promoting their products on these social media platforms. Thus, through social media marketing strategy, the lactose free butter market sights critical opportunities to grow.

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The key players operating in the global lactose free butter industry include The Kraft Heinz Company, The Hain Celestial Group, Inc., Cargill Inc., Corbion Inc., Kerry Group PLC, Ingredion Incorporated, Chr Hasen A/S, Dupont, Kellogg Company, and General Mills, Inc.

Key Findings of the Study:

Depending on lactose free butter market trends, the household segment garnered 82.0% of the lactose free butter market share in 2018 and is expected to grow at a CAGR of 7.6% from 2019 to 2026.
The commercial segment was valued at $39.9 million and is expected to reach $59.3 million by 2026, registering a CAGR of 5.0 %.
In 2018, by distribution channel, the specialty stores segment accounted for 50.3% share of the lactose free butter market, and is expected to grow at the CAGR of 6.3%.
The online retail stores segment was valued at $7.8million, and is expected to reach $14.6 million by 2026, registering the highest CAGR of 11.5%.
Region wise, North America accounted for a prominent market share in 2018, and is anticipated to grow at a CAGR of 5.9% throughout the forecast period.

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