The global lactose free dairy products market report, FMI analysts project that sales will reach a value of US$ 13,874.30 million by 2024. Recent consumer purchasing habits indicate a heightened focus on health, prompting manufacturers to introduce lactose-free dairy products with enhanced nutritional content. This growing trend is expected to drive a 5.6% CAGR, resulting in market revenue of US$ 23,983.50 million by 2034.
Key Insights:
- Lactose intolerance, a prevalent condition affecting millions, drives consumers to avoid dairy products due to digestion difficulties. With a substantial global market opportunity, lactose-free dairy products cater to the needs of lactose-intolerant individuals.
- Common in East Asia, with over 90% of adults affected in some populations, lactose intolerance creates a robust growth platform for lactose-free dairy products worldwide.
- Lactose-free dairy products present a growth opportunity, allowing lactose-intolerant consumers to enjoy dairy-based food items in desired quantities.
“Lactose free dairy product faces stiff competition from other plant-based food products, which has slowed down the growth potential of the market,” says Nandini Roy Choudhury, Client Partner at Future Market Insights
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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
Leading Companies Profiled in Lactose Free Dairy Products Market are:
- Green Valley Creamery
- McNeil Nutritionals
- Valio International
- Alpro
- Arla Foods Amba
- Cabot Creamery Corporation
- Saputo Dairy rProducts
- The Danone Company
- Smith Dairy Products
- Hiland Dairy Foods
News Update Regarding Latest Product Launches by Industry Participants
- In October 2022, Swees Plant Based Foods Co., which is a Thai-based dairy-free cheese startup, announced that it will be commencing production in the first-ever vegan cheese factory. The company has plans to export its products outside of Thailand.
- In December 2023, Life Health Foods (India) Pvt. Ltd. launched So Good oat caramel flavoured beverage in India in the dairy-free and plant-based Segment. The latest brand delivers a versatile and healthy drink, developed domestically from oats. It has a distinct caramel flavor that is happily consumed by kids. It is also a rewarding choice for health-conscious consumers as it is a rich source of calcium.
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Lactose Free Dairy Products Market by Category
By Product Type:
- Milk
- Condensed Milk
- Milk Powder
- Yogurt
- Ice cream
- Cheese
- Other Products
By Form:
- Liquid
- Semi-solid
- Powder
By Nature:
- Organic
- Conventional
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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