Press release
Lactose-Free Products Market is estimated to reach USD 24.9 billion during the forecast period, growing at a CAGR of 8.1% till 2029 | Size, Share, Trend & Analysis
Lactose-Free Products Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/lactose-free-products-market/
The factors driving growth of the Lactose-Free Products Market includes growing demand for lactose-free dairy products around the world, rising awareness about the health benefits offered by lactose products, increasing popularity of hazelnut milk amongst millennials, prevalence of lactose intolerance and improvements in the living standards. Moreover, increasing availability of lactose free products at online stores, growing adoption of advanced technologies by manufacturers, rise in the launch of innovative flavors, greater protein components in lactose free products and rapid urbanization, are some of the additional factors supplementing the Lactose-Free Products Market Size. In addition, the increasing investments by major corporations on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Lactose-Free Products Market is hindered due to increasing sales of plant-based alternatives.
The leading players operating in the Lactose-Free Products Market are LALA U.S., Inc., Nestle SA, Danone Company S.A., Valio Ltd., The Coca-Cola Company, Gujarat Cooperative Milk Marketing Federation (GCMMF), Johnson & Johnson Services, Inc., General Mills Inc., Lifeway Foods, Inc., and Organic Valley, among others.
Based on Type, the Milk segment is predicted to expand at a remarkable CAGR during the forecast period
Lactose free milk is great source of protein, phosphorus, and vitamin B12 and is sweeter as compared to regular milk products, are propelling Lactose-Free Products Market Growth.
Based on Form, the No added sugar products/ reduced sugar claims segment is projected to capture the largest market share over the forecast period
Rising prevalence of diabetes and obesity, increasing consumer preference for healthy food products, are pushing growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Growing influence of western culture on the Asian society, rising demand for lactose free dairy products, easy availability of lactose free dairy products at distribution channels, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Key Developments
In 2020, The Coca-Cola Company completed the acquisition of all the remaining stake in Fairlife LLC from its joint venture partner Select Milk Producers to capture to the changing demand of consumers for lactose-free products.
In 2020, Valio Ltd. and Palmer Holland (US) joint ventured to offer lactose-free powders in the US market.
Market Segmentation
Segmentation by Type
Milk
Plain
Flavored
Others
Yogurt
Set
Drinking/ Ambient
Regular
Probiotic
Others
Cheese
Cheddar
Cottage
Hard
Soft
Others
Ice cream
Confectionery products
Others
Segmentation by Form
Lactose-free
No added sugar products/ reduced sugar claims
Reduced lactose products
Segmentation by Category
Organic
Inorganic
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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