(I-BusinessNews.Com, June 13, 2021 ) Lactose Free Dairy Products Market size is estimated to be $12.1 billion in 2020, growing at a CAGR of 8.1% during the forecast period 2021-2026. Lactose is a sugar that is present in milk and dairy products that is made from milk and milk derivatives. Lactose intolerance is a problem in which people are unable to fully digest milk leading to diarrhea, gas and bloating. Moreover, the percentage of people with impaired ability to digest lactose varies widely per country and per continent from 98-100% of adults in Southeast Asia to just 1% in the Netherland. Growing elderly population along with large number of people suffering from lactose-intolerance and the adoption of lactose-free dairy products is a vital factor contributing to its market growth. In addition, the consumption of dairy-free products including ice-cream, yoghurt and other in place of sugar products is also another vital factor contributing to its market growth. Moreover, lactose-free dairy is used to provide the essential nutrients present in regular dairy products such as calcium and vitamins. Hence, increasing awareness among consumers regarding the benefits associated with the consumption of lactose-free dairy products is a vital factor contributing to its market growth.
Lactose Free Dairy Products Market Segment Analysis – By Product Type
By Product Type, the Lactose Free Dairy Products Market is segmented into Yoghurt, Ice-Cream, Confectionery Products and Others. Yoghurt segment held the largest market share in the year 2020 owing to the increasing health benefits associated with its consumption. Yoghurt is a type of fermented milk which contains a lot of nutrients including carbohydrates, lipids, protein, minerals and vitamins. In addition, it has a similar micronutrient composition as milk, generally with good bioavailability and affordability. Yoghurt is an excellent source of high-quality protein, whey and casein protein leading to a reduction in appetite and aids muscle and bone growth. Therefore, a large number of people are opting for it which in turn is contributing to its segmental revenue. Also, ice-cream segment is projected to witness growth at fastest CAGR of 8.7% in forecast period 2021-2026 owing the increasing demand of ice-cream among younger population owing to its versatile taste and flavor.
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Lactose Free Dairy Products Market Segment Analysis – By Form
By Form, the Lactose Free Dairy Products Market is segmented into No-added Sugar, Reduced Lactose and Others. No-added Sugar segment held the largest market share in the year 2020 owing to the increasing health conscious population coupled with large number of people suffering from diabetes and obesity. Therefore, in order to meet with the consumers demand, the key players are usually focused on producing products with low sugar content or no-added sugar which in turn is contributing to its segmental growth. For instance, in June 2017 Zydus Wellness launched sugar-free green which is made from stevia leaf, a zero-calorie 100 percent natural sweetener used in a wide range of application including beverages and desserts. Also, reduced lactose segment is projected to witness growth at fastest CAGR of 8.4% in forecast period 2021-2026 owing to the growing demand of baby formulas for lactose intolerant babies. Moreover, Similac offers Similac sensitive lactose sensitivity a milk-based formula designed for babies with lactose intolerance problem.
Lactose Free Dairy Products Market Segment Analysis – By Geography
North America contributed to the largest market share of 44% in 2020 owing to the growing elderly population suffering from lactose intolerance in that region along with the increasing health-conscious population. For instance, about 30 million Americans adults have some degree of lactose intolerance by age. Asia Pacific Lactose Free Dairy Products Market is another dominant market owing to the increasing demand of lactose-free dairy products including yoghurt and ice-cream in that region.
Lactose Free Dairy Products Market Drivers
Large Pool of People Suffering from Lactose Intolerance
Large pool of people suffering from lactose intolerance is a significant factor driving the Lactose Free Dairy Products Market during the forecast period 2021-2026. Moreover, according to National Digestive Disease Information Clearinghouse, some 30 million to 50 million Americans are suffering from lactose intolerant, including up to 75 percent of Africans Americans and American Indians and 90 percent of Asian Americans.
Increasing Demand of No-Added Sugar Products
Increasing demand of no-added-sugar products owing to large number of people suffering from diabetes and obesity is a major driving the Lactose Free Dairy Products Market during the forecast period 2021-2026. Therefore, in order to meet with the consumers, demand the manufacturers are adopting different types of strategies to expand their product portfolio. For instance, in May 2020, Good Good raised $3million in a series a funding to expand sugar free-products.
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Lactose Free Dairy Products Market Challenges
High Cost of Lactose Free Dairy Products
High Cost of Lactose Free Dairy Products serves as a major setback for the growth of the Lactose Free Dairy Products Market during the forecast period 2021-2026. Owing to its high cost the consumers are unable to afford it which in turn is hampering its market during the forecast period 2021-2026.
Lactose Free Dairy Products Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Lactose Free Dairy Products Market. Lactose Free Dairy Products Market top 10 are Green Valley Creamery, McNeil Nutritional, Valio International, Alpro, Arla Foods amba, Cabot Creamery Cooperative, Saputo Dairy Products, The Danone Company Inc., Dean Foods and Smith Dairy Products.
Lactose Free Dairy Products Market Developments:
October 2017: Drupe Foods India launched lactose free vegan milk in India.
Key Takeaways
Yoghurt segment held the largest market share in the year 2020 owing to the increasing health benefits associated with its consumption.
No-added Sugar segment held the largest market share in the year 2020 owing to the increasing health conscious population coupled with large number of people suffering from diabetes and obesity.
North America contributed to the largest market share of 44% in 2020 owing to the growing elderly population suffering from lactose intolerance in that region along with the increasing health conscious population.
Large pool of people of people suffering from lactose intolerance is a significant factor driving the Lactose Free Dairy Products Market during the forecast period 2021-2026.
Related Reports :
A. Lactose Free Food Market
https://www.industryarc.com/Report/7456/lactose-free-food-market.html
B. Dairy Products Market
https://www.industryarc.com/Report/18309/dairy-products-market.html
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