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.
Request a Sample to Obtain Authentic Analysis and Comprehensive Market Insights @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2507
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
We Offer tailor-made Solutions to fit Your Requirements, Request Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-2507
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?
How is the plant-based industry transitioning from a niche sector to a mainstream industry? Get the answers in Future Market Insights plant-based market blog!
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports