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Global Lactose-Free Dairy Market Comprehensive Study: Forecasted Market Size And Growth Rate | Dairy Farmers of America Inc., General Mills Inc., Lifeway Foods Inc., Nestle SA, Saputo Inc., The Coca-Cola Company
Lactose-Free Dairy Market Characteristics
The Business Research Company offers in-depth market insights through Lactose-Free Dairy Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The lactose-free dairy market size has grown strongly in recent years. It will grow from $11.85 billion in 2023 to $12.87 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to health awareness, rise in lactose intolerance cases, product innovation, marketing and education campaigns, retail expansion..
The lactose-free dairy market size is expected to see strong growth in the next few years. It will grow to $17.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to increasing health awareness, continued rise in lactose intolerance, expanding product offerings, technological advancements in production, evolving taste and texture improvement. Major trends in the forecast period include health consciousness, rise in vegan and plant-based diets, product innovation, marketing and education, retail expansion.
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Market Segmentation:
The lactose-free dairy market covered in this report is segmented -
1) By Type: Milk, Cheese, Yogurt, Other Types
2) By Form: Solid, Liquid, Powder
3) By Distribution Channel: Hypermarkets Or Supermarkets, Convenience Stores, Online Channels, Other Distribution Channels
Major Driver - Rising Demand For Organic Food Drives Growth In Lactose-Free Dairy Market
The rise in consumption of organic food and beverages is expected to propel the growth of the lactose-free dairy market going forward. Organic foods are foods that are produced by organic farming methods without involving any chemicals or any other human-made chemicals. Lactose-free foods are harvested using organic methods and are therefore preferred by people who consume organic foods thus increase in the consumption of organic food and beverages is propelling the growth of the lactose-free dairy market. For instance, according to the Organic Trade Association, a US-based trade association of business selling and buying organic products, between 2020 and 2021, organic sales reached $63 billion with $1.2 billion (2%) year-on-year growth. Food sales reached $57.5 billion and grew by 2% over the previous year. As a result, the increasing consumption of organic food and beverages is driving the growth of the lactose-free dairy market.
Competitive Landscape:
Major companies operating in the lactose-free dairy market report are Dairy Farmers of America Inc., General Mills Inc., Lifeway Foods Inc., Nestle SA, Saputo Inc., The Coca-Cola Company, Organic Valley, Johnson & Johnson, Prairie Farms Dairy Inc., Omira GmbH, Hiland Dairy Foods, Meggle Group, Murray Goulburn Co-Operative Co Ltd., Arla Foods AMBA, Valio Ltd., The Kroger Company, Cabot Creamery Cooperative Inc., Danone SA, Lactalis SA, Dean Foods Company, Green Valley Organics LLC, Agrosuper SA, Aurora Organic Dairy LLC, Land O'Lakes Inc., Parmalat SpA, Yoplait USA Inc., Meiji Holdings Co Ltd., Agropur Cooperative, Bel Group, Agri-Mark Inc. .
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Top Trend - Animal Free Products Transforming The Lactose-Free Dairy Market
Product innovations are a key trend gaining popularity in the lactose-free dairy market. Major companies in the market are introducing innovative products such as animal-free creams, easy-to-digest products, and others to sustain their position in the market. For instance, in February 2022, Modern Kitchen, a US-based animal-free products company, launched the world's first animal-free cream cheese. It is made from precision fermentation technology in which DNA sequences of real dairy are encoded into microorganisms that produce proteins similar to real milk. The product is made from real dairy and is lactose-free, hormone-free, and cholesterol-free.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lactose-Free Dairy Market Characteristics
3. Lactose-Free Dairy Market Trends And Strategies
4. Lactose-Free Dairy Market - Macro Economic Scenario
5. Lactose-Free Dairy Market Size And Growth
…..
27. Lactose-Free Dairy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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