Lactose Free Food Market Scenario
The Global Lactose Free Food Market is witnessing continually rising sales, mainly due to the rising occurrences of milk allergy and lactose intolerance cases. Increasing numbers of populaces are consuming lactose-free food to avoid health complications arose due to lactose sensitivity. There are a considerable number of lactose-free food products available in the market, which in turn, accelerates the growth of the market.
According to Market Research Future (MRFR), the global Lactose Free Food Market is booming and expected to garner exponential accruals by 2023. In its recently published analysis, MRFR also asserts that the market would register a moderate CAGR throughout the forecast period (2018 – 2023). The market has witnessed a dramatic change from being considered as specialty niche products to becoming a mainstream product market.
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The increased awareness and availability of Lactose-Free Food Products are the key drivers of the market. The introduction of a range of products with a variety of taste, flavor, and texture, manufacturers, boosts the growth of the lactose free food market. The demand for free-from alternatives is expected to continue to grow further throughout the review period. Moreover, increasing health awareness and rising disposable income are influencing the growth of the market.
However, lactose-free food products are expensive, which could impede the growth of the market, especially in the developing and underdeveloped economies. Also, the massive popularity of dairy products in developed economies is expected to obstruct the growth of the lactose free foods market. Nevertheless, the rising trend of free-from” products would support market growth during the forecast period of 2018-2023. Similarly, rising health disorders such as obesity and diabetes are expected to provide a considerable impetus to the market growth.
Major Players
Players leading the global Lactose Free Food Market include Arla Foods (Denmark), General Mills Inc. (US), Galaxy Nutritional Foods Inc. (India), WhiteWave Foods (US), Land O’Lakes, Inc. (US), Barry Callebaut (Switzerland), Daiya Foods (Canada), Amy’s Kitchen (US), Fonterra Co-operative Group Limited (New Zealand), and Dean Foods (US), among others.
Industry/Innovation/Related News
October 17, 2019 — Saputo Dairy UK, a leading dairy company, manufacturing and selling dairy products and functional ingredients, announced its partnership with Asda Stores Ltd (the UK), a supermarket retailer, to launch a new range of lactose-free cheese snacks, aimed at the children’s market. Earlier this month, the firm had launched a new Vitalite dairy-free alternatives to develop further growth in the free-from market.
July 12, 2019 — General Mills, Inc. (the US), a multinational manufacturer and marketer of branded consumer foods and Good Belly Probiotics (the US), a recognized leader in the probiotic industry, announced their partnership to launch probiotic cereal and yogurt. Partnering companies would work together to distribute a line of lactose-free yogurts and a single probiotic- infused cereal. According to the deal, General Mills will be responsible for the production, sales, and marketing of the products.
Lactose Free Food Market – Segments
The report is segmented into three dynamics to widen the scope of understanding,
By Type : Milk, Bread, Fats, Soups & Sauces, Desserts, and others.
By Source : Soy, Rice, Coconut, Almond, Hemp Milk, and others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Lactose Free Food Market – Regional Analysis
Europe is estimated to hold a significant share in the global Lactose Free Food Market. Various factors, including the rising demand for lactose-free foods led by the growing lactose intolerance among consumers, are stimulating the growth of the market. Moreover, rising numbers of populaces adopting the vegan diet are expected to increase the size of the Lactose Free Food Market in the region. Additionally, the rising disposable income and rising health-conscious populace would impact regional market growth. Positively.
North America is the second-largest region in the global lactose free food market, which is experiencing a high demand for dairy-free products. The shift in consumers’ food consumption trends and inclination towards a healthy lifestyle drives the growth of the regional market. The US is the largest market for lactose free food in North America. Statistics indicate that the prevalence of lactose intolerance in the US is growing significantly, is creating massive market demand.
The Asia Pacific Lactose Free Food Market is growing at a steady pace. Factors such as the rising awareness towards lactose intolerance and allergy for dairy products is boosting the regional market growth. Moreover, rapid advancements in processing technologies, raw material advantages, and cost-competitive labor force in the region increases the numbers of production plants, attracting foreign investors.
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Lactose Free Food Market – Competitive Analysis
Highly competitive, the Lactose Free Food Market appears to be fragmented due to the presence of many well-established players. To gain a substantially large market share, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch. They invest heavily in driving RD for advanced technologies and product expansion plans. Price, quality, service, innovation, reputation, and distribution & promotion are the factors based on which the key players compete.
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