The global lactose free dairy products market is set to witness growth at a CAGR of 5.5% and is anticipated to reach a valuation of around USD 23.1 Bn by 2032.
Lactose intolerance is a common and debilitating illness that affects an estimated 75% of people worldwide. As a result, consumers avoid dairy products since lactose is difficult for them to digest. Lactose intolerance currently affects over 40 million Americans, or around one-third of the population, in varying degrees of severity. It is particularly common in people of East Asia, affecting more than 90% of adults in some of these populations. As a result, lactose-free dairy products have a large growth opportunity in the global market.
Various studies have shown, however, that a lactose-intolerant consumer can readily ingest a small amount of dairy products because lactose levels are relatively low in them. Nonetheless, the introduction of lactose-free dairy products to the market gave lactose-intolerant consumers the ability to consume dairy-based food items in the desired quantity.
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Key Takeaways from Market Study
- The market is segmented based on product type, wherein lactose free milk is anticipated to account for a major chunk of the market share over the forecast period
- The North American lactose free dairy products market is expected to witness a lucrative growth rate of 5.8% during the forecast period.
- Lactose free dairy products which are organic is expected to hold a market share of over 40% in the forecast period
- Lactose free dairy products is also segmented based on form, wherein the liquid form is expected to account for a sizeable portion of the market share over the forecast period
“Lactose free dairy product faces stiff competition from other plant-based food products, which has slowed down the growth potential of the market,” says a Future Market Insights analyst.
Competitive Landscape
Leading lactose free dairy products makers are preferring to create new products to provide customers with a wide range of options, while the less adopting tactics included expanding into new regions and raising knowledge about lactose-free dairy products:
- In 2020, Valio, a Finnish dairy and food firm, and Palmer Holland collaborated to distribute lactose-free milk powders. This was a critical step in bringing new value-added dairy components to the US market for both parties
- Danone launched a lactose-free food line in Spain, named Activia, with a few varieties to capitalize on the country’s lactose-free population
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global lactose free dairy products market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (milk, condensed milk, milk powder, yogurt, ice cream, cheese and other products), form (liquid, semi-solid and powder), nature (organic and conventional), sales channel (offline sales channel (supermarkets/hypermarkets, departmental stores, convenience store and other sales channel) and online sales channel (company website and e-commerce platform)), across seven major regions of the world.
The report covers exhaustive analysis on:
- How much is the lactose free dairy products market worth by 2022?
- What is the anticipated worth of the lactose free dairy products market by 2032 end?
- What is the lactose free dairy products market outlook?
- Which region is expected to drive the demand for lactose free dairy products market?
- Who are the key players operating in the market?
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