Dublin, Nov. 23, 2021 (GLOBE NEWSWIRE) -- The "Lactose Free Food Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global lactose-free food Market.
This report focuses on the lactose free food market which is experiencing strong growth. The report gives a guide to the lactose free food market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
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Where is the largest and fastest growing market for the lactose-free food market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Lactose-Free Food Market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider lactose-free food Market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
- The lactose-free food Market section of the report gives context. It compares the lactose-free food Market with other segments of the lactose-free food Market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, lactose-free food market indicators comparison.
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 $11.43 billion in 2020 to $12.47 billion in 2021 at a compound annual growth rate (CAGR) of 9.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $17.61 billion in 2025 at a CAGR of 9%.
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, diarrhoea, 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.
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.
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.
Key Topics Covered:
1. Executive Summary
2. Lactose Free Food Market Characteristics
3. Lactose Free Food Market Trends and Strategies
4. Impact of COVID-19 on Lactose Free Food
5. Lactose Free Food Market Size and Growth
5.1. Global Lactose Free Food Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Lactose Free Food Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Lactose Free Food Market Segmentation
6.1. Global Lactose Free Food Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Lactose-Free Products
- Lactose-Reduced Products
6.2. Global Lactose Free Food Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Milk
- Cheese
- Yogurt
- Ice-Cream
- Non-Diary Products
- Others
6.3. Global Lactose Free Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Supermarkets/Hypermarkets
- Online Stores
- Others
6.4. Global Lactose Free Food Market, Segmentation By Source, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Rice
- Almond
- Soy
- Hemp Milks
- Coconut
6.5. Global Lactose Free Food Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Chromatographic Separation
- Acid Hydrolysis
- Membrane Reactor
7. Lactose Free Food Market Regional and Country Analysis
7.1. Global Lactose Free Food Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Lactose Free Food Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/kaktjj
