Major players in the lactose free food market are Arla Foods, McNeil Nutritionals, OMIRA Oberland-Milchverwertung (OMIRA), Parmalat, Valio, Alpro, Amy's Kitchen, Barry Callebaut, Cargill, Chr. Hansen, and Daiya Foods.
The Global Lactose Free Food Market is expected to grow from USD 11.7 billion in 2019 and to USD 11.96 billion in 2020 at a growth rate of 1.97%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach USD 15.82 billion in 2023 at CAGR of 9.77%.
The lactose-free food market
consists of sales of lactose-free food and related services. Lactose is a sugar
found in milk and food with ingredients including milk and whey. Lactose-free
food is used as an alternative for dairy-free food items. Lactose-free dairy
products contain an enzyme called lactase that helps in breaking down milk
sugar galactose to avoid stomach problems such as abdominal cramping, gas,
diarrhea, and bloating in people with lactose intolerance. Lactose-free food
items include soya yogurts and cheeses, oat milk, rice milk, coconut-based
yogurts and cheeses, carob bars, and food with dairy-free and suitable for
vegan sings.
Europe was the largest region in
the lactose free food market in 2019. North America was the second largest
region in the lactose free food market in 2019.
In January 2020, the Coco-Cola
company announced the full acquisition of Fairlife, a USA-based dairy beverage
company for an undisclosed amount. The company announced the acquisition of the
remaining 57.5% of stake in the company. The acquisition is expected to expand
the dairy and non-dairy product portfolio of the company. Fairlife was founded
in 2012 and markets a broad portfolio of dairy-based beverages including
ultra-filtered milk and high-protein milkshakes. The company also markets
lactose-free products in order to cater to a wide range of consumers.
The stiff competition from dairy
alternatives is expected to limit the growth of the lactose-free food market.
The availability of various dairy alternatives such as cheese, butter,
ice-creams, milk made from soy, rice, almond, and other non-dairy ingredients
is likely to take over the share for lactose-free food products. For instance,
in 2018, the global milk output was around 843 million tons and the export of
milk products such as butter increased by 7.5%, mainly contributed by
countries, like New Zealand, the United States, and India. Therefore, competition
from dairy products is expected to hinder the growth of lactose-free food
market during the period.
The launch of new lactose-free
products is a leading trend contributing for the market expansion. In June
2019, Beckon Ice Cream, a Boston-based company, announced the introduction of
lactose-free premium ice-creams made from real cream and milk. The company
began distribution of its premium ice-cream through Whole Foods Market stores.
Beckon Ice Cream aims to maintain the taste of traditional ice cream in its
dairy-full and lactose-free ice creams. This scenario of new product
developments is likely to surge the revenues for lactose-free food market over
the forecast period.
An increasing number of people with
lactose intolerance are expected to contribute to the higher demand for
lactose-free food products. Lactose intolerance is a digestive syndrome caused
by the incapability to digest lactose; a carbohydrate found in dairy products.
According to National Library of Medicine, an approximate of 65% to 90% of
adults are affected by lactose intolerance. Moreover, in Europe, 5% to 15% of
the population is lactose intolerant. Therefore, an increasing number of people
with lactose intolerance is anticipated to propel the demand for lactose-free
food over the forecast period.
For More Information, Click on the Link Below:-
Global
Lactose Free Food Market
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
No comments:
Post a Comment