Global Lactose Free Dairy Products Market to Surpass US$ 17.8 BN by 2027
The global lactose free dairy products market is projected to reach US$ 17,809.4 Mn by the end of 2027. The market is forecast to exhibit a CAGR of 5.3% between 2019 and 2027. Regionally, Eastern Europe gas become self-sufficient in terms of production. The rising demand for organic food and beverages among consumers is supporting the expansion of the lactose free dairy products market. According to the report, Europe is forecast to remain the dominant market for lactose free dairy products. In terms of product type, yoghurt segment is likely to continue leading the market through the forecast period.
Yoghurt Emerges as Most Preferred Lactose Free Dairy Product
By product type, the yoghurt segment is likely to reach a market valuation of more than US$ 4,000 Mn by the end of the forecast period. It is expected to expand at a CAGR of 4.7% between 2019 and 2027. The yoghurt segment is anticipated to dominate in terms of value in the global lactose free dairy products market over the forecast period. The rising demand for dairy alternatives among health conscious population will boost demand in the segment
Europe Emerges as Dominant Market for Lactose Free Dairy Products
In terms of production of lactose free dairy products, Eastern Europe is currently self-sufficient in dairy production. The Eastern Europe region alone produces over 60 Mn MT of lactose free dairy products every year. Several companies in this region are launching new lactose free dairy products. Also, producers in this region are working towards introducing low cost lactose free dairy products to fulfill the demands of the health conscious population of this region.
A major consumer shift towards organic food and beverages has been witnessed in the food and beverages market of Western Europe since the past few years. This shift has occurred mainly due to increasing awareness among consumers regarding the unethical and synthetic ingredients in non-organic food and beverages products.
This is the precise reason that production of organic milk is stringently regulated in this region and even to sell milk one needs to obtain the necessary license from relevant authorities. Due to these rules, consumers have confidence that whatever they are consuming has been well inspected. This provides the necessary encouragement to manufacturers to venture into organic lactose free dairy products over other non-organic products.
Rising Demand for Alternative Milk will Boost Growth
The consumption of dairy products is the highest among the global population. However, alternative dairy products are not much popular among consumers and they still prefer dairy products over other alternatives such as plant based products, due to the different taste of plant based dairy products, which is not all that popular among consumers. Moreover, limitations in the usage of plant based dairy products over culinary food is another reason why the growth of lactose free dairy products in the global market is rapidly increasing across the globe.
Global lactose free dairy products market structure
An approximate share of 45%-50% is accounted for by multinational players who offer a wide range of lactose free dairy products in the global market. Western Europe is the top producer of lactose free milk and products. Companies such as Valio International, Shamrock Foods Company, Arla Foods, Dean Foods, The Danone Company Inc., Murray Goulburn Co-Operative, Nestle S.A. operate in the lactose free dairy products market. Primarily these players focus on private label offerings and collaboration with retailers in the domestic market.
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FREQUENTLY ASKED QUESTIONS ABOUT LACTOSE FREE DAIRY PRODUCTS MARKET
What drives the lactose free dairy products market?
The global lactose free dairy products market is primarily driven by the rising prevalence of lactose intolerance around the world. In addition to this, the increasing demand for healthier alternatives to milk will enable the market grow considerably in the coming years.
What are the key witnessed in the lactose free dairy products market?
Speaking about key challenges witnessed, taste has remained a constant cause of concern among consumers. Lactose free dairy products can have an undesirable taste because of arylsulfatase present in them. This could hamper the market’s growth potential to an extent.
Which region will lead the global sales of lactose free dairy products?
Europe currently leads the global lactose free dairy products market.
Which segment based on product leads the lactose free dairy products market?
In terms of product type, yoghurt currently witnesses the highest demand. In the coming years, the milk segment as well is likely to witness a high demand.
Which segment based on distribution channel will record the highest growth?
In terms of volume, e-retailers are likely to witness considerably high rate of growth in the coming years among distribution channels.
The market is segmented as under:
By Product Type
- Condensed Milk
- Milk Powder
- Ice Cream
- Infant Formula
- Processed Milk Products
By Distribution Channel
- Convenience Stores
- Specialty Stores
- North America
- Latin America
- Eastern Europe
- Western Europe