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Lactose Free Food Market Size, Industry Analysis And Forecast, Report 2024 To 2033
Lactose Free Food Market
Market Size And Growth Forecast:
The lactose free food market size has grown rapidly in recent years. It will grow from $16.51 billion in 2023 to $18.71 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to rising lactose intolerance awareness, growing health consciousness, increasing prevalence of lactose intolerance, diverse product offerings, globalization of dietary preferences.
The lactose free food market size is expected to see rapid growth in the next few years. It will grow to $29.11 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to continued health and wellness trends, innovation in product formulations, rising demand for plant-based alternatives, e-commerce expansion, customized nutrition solutions, collaborations and partnerships. Major trends in the forecast period include development of diagnostic technologies, expanding product offerings in the snack and convenience sector, technological advancements in lactase production, innovation in dairy-free product formulations, health and wellness trends driving market growth.
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Market Segmentation:
The lactose free food market covered in this report is segmented -
1) By Type: Lactose-Free Products, Lactose-Reduced Products
2) By Technology: Chromatographic Separation, Acid Hydrolysis, Membrane Reactor
3) By Distribution Channel: Supermarkets/Hypermarkets, Online Stores, Other Distribution Channels
4) By Application: Milk, Cheese, Yogurt, Ice-Cream, Non-Diary Products, Other Applications
Major Driver - Rising Prevalence Of Lactose Intolerance Spurs Demand For Lactose-Free Food Market
An increasing number of people with lactose intolerance are expected to contribute to the higher demand for lactose-free food products. Lactose intolerance is a digestive syndrome caused by the inability to digest lactose, a carbohydrate found in dairy products. According to the National Library of Medicine, approximately 65% to 90% of adults are affected by lactose intolerance. Moreover, in Europe, 5% to 15% of the population is lactose intolerant. Therefore, an increasing number of people with lactose intolerance is anticipated to drive the demand for lactose-free food over the forecast period.
Competitive Landscape:
Major companies operating in the lactose free food market report are Cargill Inc., Nestlé SA, Groupe Lactalis SA, Danone SA, General Mills Inc., Land O Lakes Inc., Arla Foods Ltd., Fonterra Co-operative Group Limited, Kerry Group plc, Emmi AG, WhiteWave Foods, Barry Callebaut AG, HP Hood LLC, Valio Ltd., TINE SA, Organic Valley Family of Farms., Boulder Brands Inc., Amy's Kitchen Inc., Freedom Foods Group Limited, Daiya Foods Inc., Murray Goulburn Co-Operative Co. Ltd, Edlong Dairy Technologies, OMIRA Oberland-Milchverwertung GmbH, Galaxy Nutritional Foods Inc., Green Valley Organics Foods Ltd., McNeil Nutritionals LLC, Parmalat SpA, Alpro Products Ltd., Hansen's Teknisk-Kemiske Laboratorium, Dean Foods Co.
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Top Trend - Innovative Product Launches Drive Growth In The Lactose-Free Food Market
The launch of new lactose-free products is a leading trend contributing to the market's expansion. In June 2022, Provilac, an India-based premium milk home delivery company, announced the launch of free-cow milk for those with a sensitive digestive system. Provilac's lactose-free milk is produced by adding "Lactase", a catalytic enzyme that breakdown lactose into glucose without jeopardizing the integrity of the milk. This scenario of new product developments is likely to surge the revenues for lactose-free food market over the forecast period.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lactose Free Food Market Characteristics
3. Lactose Free Food Market Trends And Strategies
4. Lactose Free Food Market - Macro Economic Scenario
5. Lactose Free Food Market Size And Growth
…..
27. Lactose Free Food Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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