The Lactose-Free Products Market is expected to grow at a CAGR of around 9 % from 2021-2027.
A comprehensive overview of the Lactose-Free Products market is recently added by UnivDatos Market Insights to its humongous database. The Lactose-Free Products report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Lactose-Free Products market. Lactose-Free Products report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Lactose-Free Products at the global and regional levels. The Lactose-Free Products Market is expected to grow at a CAGR of around 9 % from 2021-2027.
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Market Overview
The key factors attributed to the growth of the Lactose-Free Products market across the globe are growth in disposable income, increasing lactose intolerance among consumers specifically among children's and the availability of reduced added sugar or no added sugar products. As per the National Institute of Diabetes and Digestive Kidney Diseases, about 68% of the world’s population has lactose malabsorption and In the United States, about 36% of people have lactose malabsorption and in East Asia, around 90% of adults are lactose intolerant.
Moreover, a rise in the awareness about lactose intolerance and increase in self-diagnosed cases of lactose intolerance among consumers coupled with the availability of products as per consumer need is also adding pace to the growth of the market.
COVID-19 Impact
The COVID-19 pandemic had an enormous impact on consumer buying behaviors, eating habits, and living. The demand for healthy food products witnessed a sharp rise due to the growing demand for high immunity. Lactoferrin is a protein found in milk with some antimicrobial properties and provides some immune support as well. Therefore, the ring lactose intolerance people coupled with the rising demand for higher immunity lead to the growth of the market during the COVID-19 period.
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The Lactose-Free Products Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into
• Milk
• Yogurt
• Ice-cream
• Confectionery products
• Others
The milk segment gathered a major market share of Lactose-Free Products in 2020 and grabbed XX% market share. The market of this segment is expected to witness robust growth due to the growing demand and popularity among millenniums coupled with the offering of No added sugar/ Reduced sugar claims and Reduced lactose products by the manufacturer.
By Distribution Channel, the market is primarily bifurcated into
• Supermarkets & Hypermarkets
• Specialty Stores
• Online
• Other
The Supermarkets & Hypermarkets segment grabbed the major market in 2020. The key factors attributed to the growing share of this segment are the expanding retail sector globally. For instance: Germany based supermarket chain announced to invest US$ 500 million and open around 50 stores in the United States.
By Form, the market is primarily bifurcated into
• Lactose-free
• No added sugar/ Reduced sugar claims
• Reduced lactose
The No added sugar/ Reduced sugar claims segment grabbed the major market in 2020. The market for this segment Is promulgating as the companies are more focused on the launch of the new products. In 2021, U.S bases International Flavors & Fragrances (IFF), launched NuricaTM enzyme to Generate GOS Fiber and Lactose-free Dairy Products in China
Lactose-Free Products Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the North America region grabbed a major market share in 2020. The demand for Lactose-Free Products in North America is on the rise due to the growing lactose intolerance among people. According to the National Digestive Diseases Information Clearinghouse, some 30 million to 50 million Americans are lactose intolerant, including up to 75% of African Americans and American Indians and 90% of Asian Americans.
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The major players targeting the market includes
· Johnson & Johnson
· The Coca-Cola Company
· Nestlé
· Danone Company S.A.
· Gujarat Cooperative Milk Marketing Federation (Gcmmf)
· Valio Ltd
· General Mills, Inc.
· Lifeway Foods, Inc.
· Lala U.S., Inc.
· Smithfoods, Inc.
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Lactose-Free Products market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Lactose-Free Products Market?
· Which factors are influencing the Lactose-Free Products Market over the forecast period?
· What are the global challenges, threats, and risks in the Lactose-Free Products Market?
· Which factors are propelling and restraining the Lactose-Free Products Market?
· What are the demanding global regions of the Lactose-Free Products Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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Table of Content:
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 GLOBAL LACTOSE-FREE PRODUCTS MARKET COVID-19 IMPACT
6 GLOBAL LACTOSE-FREE PRODUCTS MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY TYPE
8 MARKET INSIGHTS BY FORM
9 MARKET INSIGHTS BY CATEGORY
10 MARKET INSIGHTS BY DISTRIBUTION CHANNEL
11 MARKET INSIGHTS BY REGION
12 LACTOSE-FREE PRODUCTS MARKET DYNAMICS
13 LACTOSE-FREE PRODUCTS MARKET OPPORTUNITIES
14 LACTOSE-FREE PRODUCTS MARKET TRENDS
15 LEGAL & REGULATORY FRAMEWORK
16 DEMAND AND SUPPLY SIDE ANALYSIS
17 VALUE CHAIN ANALYSIS
18 COMPETITIVE SCENARIO
19 COMPANY PROFILED
20 DISCLAIMER
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