Lactose Free Foods Market Overview:
MRFR (Market Research Future) anticipates significant growth
prospects for the lactose free foods market between 2022 and 2030 (evaluation
period). We will provide COVID-19 impact analysis with the report, along with
an in-depth review post the coronavirus disease outbreak.
Lactose
Free Foods Market Size is anticipated to reach USD 15.09 Billion by
2030, registering a CAGR of 7.5% during 2022-2030
Growth Inducers and Main Deterrents:
Lactose free foods market is significantly bolstered by the
consistently expanding lactose intolerant populace worldwide and the high
consumer awareness with regard to digestive wellness across the globe. Many of
the well-known firms are increasingly taking up growth strategies to capture a
higher share in the global market, some of which include new product launch,
higher spending on research and development, mergers, agreements, acquisitions
and clinical trials. A case in point, in
May 2020, Univar Solutions B.V. entered an agreement with the Finnish dairy
vendor, Valio. Under the agreement, Univar Solutions B.V. is now the
distributor of Valio’s lactose free milk powder across Belgium, Austria,
Switzerland, Greece, Sweden, the Netherlands, the UK, Luxembourg, Germany,
Ireland and France.
Increased availability of a variety of lactose free foods,
in light of the rising launches of different innovative products that aim to
offer nourishment as well as taste to consumers, seems to be working in the
market’s favor. Innovative lactose free products are increasingly being
introduced in the market, with appealing flavor and taste being their USP.
Increased disposable income and the expanding middle class population are some
of the macroeconomic factors that can foster further market growth in the following
years.
Rising concern among consumers about animal welfare,
environment and human health has prompted the rapid emergence of the veganism
trend across countries. Sweden, Israel, Poland, U.S., Japan, U.K. and Germany
accommodate the highest numbers of vegans in the world. Vegans prefer
alternatives to animal ingredients, which helps induce growth in the demand for
lactose free foods. Organic and clean label are some of the top trends in the
global industry, which is being leveraged by the players to boost their customer
base. The demand for lactose free foods has been growing exponentially in
developing countries like China, Brazil and India, which have significant
growth potential. Lack of structural rigidity and the rapid economic growth
across these countries are bound to encourage market growth in subsequent
years.
Segmental Analysis:
Lactose
Free Foods Market Overview has
been dissected with respect to type and source.
The types of lactose free foods available in the global
market are desserts, bread, milk, soups & sauces, fats, and others. The
demand among consumers for lactose free milk is quite significant and can
therefore, lead the segment to the top position in the years to come. On the
other hand, lactose free bread could be the fastest expanding segment in the
near future.
The primary sources of lactose free foods are coconut, rice,
almond, hemp milk and soy. It is anticipated that the soy segment can take the
lead in the market owing to its high protein and calcium content. However, the
almond milk category is set to amass a significant growth rate between 2022 and
2030.
Regional Study:
Lactose free foods market’s regional study has been
conducted by MRFR experts, which covers Asia Pacific/APAC, Europe, North
America, as well as RoW/Rest of the World.
Europe took the lead in 2018 and is growing further at a
promising rate owing to the expanding lactose intolerant population and the
popular trend of veganism among consumers. Apart from this, various renowned
firms in the region keep introducing new and innovative food products that
appeal to consumers who are lactose intolerant and do not want to compromise on
taste. Given the escalating sales of these products, Germany has managed to
secure the top spot in the European market.
In 2018, North America captured a robust share of 30% in the
global market, with the majority of the sales observed in the US owing to the
surge in self-diagnosed cases among consumers. Also, consumers in the region
are more than willing to spend extra on foods that claim to have health
features, which in turn benefits the lactose free foods market.
APAC is set to witness growth at a substantial rate over the
upcoming period, since consumers are growing concerned with regard to their
health and are indulging in self-diagnosis. Rising availability of lactose-free
products that are gluten-free and have low to no sugar also helps the consumer
base blossom in the region. Plus, innovations in terms of products that boost
digestive health, like lactose-free milk with probiotics and the rising uptake
of the western culture with respect to diet foster major growth.
Renowned Industry Participants:
Renowned industry participants that have been extensively
profiled in the MRFR study are Fonterra Co-operative Group Limited (New
Zealand), Arla Foods (Denmark), WhiteWave Foods (U.S.), Dean Foods (U.S.),
Daiya Foods (Canada), Galaxy Nutritional Foods Inc. (India), Amy's Kitchen
(U.S.), General Mills Inc. (U.S.), Land O'Lakes, Inc. (U.S.), Barry Callebaut
(Switzerland), and more.
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