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Lactose-Free Infant Formula Market 2024-2033 - Size, Growth & Key Trends
Lactose-Free Infant Formula Marke
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According to The Business Research Company's, The lactose-free infant formula market size has grown rapidly in recent years. It will grow from $16.59 billion in 2023 to $18.53 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to medical recommendations and prescriptions, rise in cases of cow's milk protein allergy (cmpa), increased incidence of lactose intolerance in infants, parental concerns for digestive health, improved formulations and taste, demand for alternative dietary solutions.
The lactose-free infant formula market size is expected to see rapid growth in the next few years. It will grow to $28.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to growing global awareness of lactose intolerance, market expansion in emerging economies, rising adoption of specialty formulas, research advancements in infant nutrition, increasing healthcare accessibility. Major trends in the forecast period include development of hydrolyzed protein formulas, integration of probiotics for gut health, formulation of plant-based and non-dairy options, emphasis on organic and clean label formulas, supplementation with dha and ara for development.
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Market Drivers and Trends:
The rising incidences of lactose intolerance are expected to propel the growth of the lactose-free infant formula market. Lactose intolerance occurs when people cannot fully digest the lactose present in the milk leading to various health problems such as bloating, gas, and diarrhea. Lactose intolerant infants are required to take lactose-free infant formula to fulfill their nutrition requirements. For instance, in July 2022, according to reports from Encyclopædia Britannica Inc., a UK-based publishing company, lactose intolerance affected approximately 65% of the adult human population in 2022. Therefore, the rising incidence of lactose intolerance among infants is driving the lactose-free infant formula market.
Major companies operating in the lactose-free infant formula market are focusing on innovative products, such as plant-based infant formula to meet parents' desire for more plant-based foods for their babies. Plant-based infant formula is a type of baby formula that is made from non-animal sources, such as plants, grains, and seeds. For instance, in July 2022, Danone S.A., a France-based food company, launched a new baby formula called Dairy & Plants Blend, which is a mix of dairy and plant-based ingredients. It offers parents a plant-based option that is also nutritionally complete and easy to digest. This gives parents more choice in how they feed their babies. Moreover, it is easy to digest, contains 60% plant protein and 40% dairy protein, and is available in two stages.
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Major Key Players of the Market:
Nestle S.A, Valio Ltd., Danone S.A, Abbott Laboratories, Silverson Machines Holdings Ltd., Gimme the Good Stuff, Mead Johnson & Company LLC, Gerber Product Co., HiPP International, Vermont Organics LLC, Perrigo Company plc, Earth's Best Inc., Nutricia Ltd., Dana Dairy Group, Nurture Inc., Kraft Heinz Company, Hain Celestial Group Inc., Honest Company Inc., Nature's One Inc., Ausnutria Dairy Corporation Ltd., Synutra International Inc., Beingmate Baby & Child Food Co. Ltd., Yili Industrial Group Company Limited, Feihe International Inc., Biostime International Holdings Limited, Wissun International Group Co. Ltd., Otsuka Holdings Co. Ltd., Morinaga Milk Industry Co. Ltd., Yakult Honsha Co. Ltd., FrieslandCampina NV
Lactose-Free Infant Formula Market 2024 Key Insights:
• The lactose-free infant formula market size is expected to see rapid growth in the next few years. It will grow to $28.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
• Rising Incidence Of Lactose Intolerance Fuels Growth In Lactose-Free Infant Formula Market
• Danone Introduces Innovative Dairy & Plants Blend Formula To Meet Parental Preferences For Plant-Based Infant Nutrition
• Western Europe was the largest region in the lactose-free infant formula market in 2023
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