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(Health-NewsWire.Net, March 25, 2021 ) According to MarketsandMarkets, the global lactose-free products market size is estimated to be valued at USD 12.1 billion in 2020 and is projected to reach USD 18.4 billion by 2025, recording a CAGR of 8.7% in terms of value. Emerging markets in upcoming economies such as Asia Pacific and South American countries is going to be a potential market for the lactose-free products manufacturers. The increase in per capita income and change in the trends of healthy and safe food consumption is going to increase the share of the market. These factors are projected to drive the growth ofthe lactose-free products market during the forecast period.
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Lactose is a type of sugar found in milk and other dairy products. An enzyme called lactase is needed by the body to digest lactose. Lactose intolerance develops when the small intestine does not make enough of this enzyme. There is a wide range of lactose-free products available in the market such as milk, yogurt, cheese, and ice-cream with the blend of different types of flavor.The industry has witnessed consistent growth in the past few years.
In North America, the US is the largest producer of lactose-free products market. Asia Pacific is projected to witness significant growth in the global lactose-free products market, which is largely driven by the rising demand for safe and healthy food products, especially from China and India. The lactose-free products industry functions with legislators and regulators to deliver qualitative products to its end users. In North America and Europe, the self-diagnosis and awareness among lactose intolerant population is among the major factors for augmenting the growth of the lactose-free products in the region.
Lactose-free products mostly include flavored milk, cheese, ice cream, and yogurt. There is an upsurge in the consumption of milk and milk products in developing countries, where the lactose-free products manufacturers can find the potential market for expansion. Increasing population, increasing demand for convenience food, and increase in disposable income are the major driving factors for the lactose-free products growth.
Asia-Pacific projected to witness the fastest growth in the lactose-free products market during the forecast period due to the awareness among population for lactose intolerant and globalization of business and technological innovations. Also, due to natural sweetening taste of lactose-free products, consumers are inclined towards lactose-free products.
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The milk by type segment is the dominating for the lactose-free market. Lactose- free milk is a rich source of protein, calcium, phosphorus, vitamin B12, riboflavin, and vitamin D. Therefore, lactose-free milk constitutes high nutritive value which is demanded by the health-conscious customers.
The no added sugar products/ reduced sugar claims form of the lactose-free products will witness significant growth rate during the forecast period. Due to the increase in awareness about health concerns, such as obesity and diabetes, consumers witness a high demand for no added sugar or reduced sugar products. For catering to the changing demands of consumers, many players in the dairy industry are focusing on introducing lactose-free dairy products with reduced sugar or no added sugar claims.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
newsletter@marketsandmarkets.com
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