Dublin, May 27, 2021 (GLOBE NEWSWIRE) -- The "Lactose-Free Product Market by Type, Form, Category and Geography - Global Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.
The Lactose-Free Products Market is estimated to grow at the rate of 8.8% CAGR by 2026.
The global lactose-free products market is projected to have strong demand in the next six years. This is mainly due to the rising awareness of lactose intolerance among the consumers, surveyed by the strong demand for reduced added sugar or no added sugar products at the global level.
As per the National Center for Biotechnology Information, around 65% of the worldwide population is prone to lactose intolerance. Lactose raises a type of simple sugar found logically in milk and milk-based products and is naturally broken down by lactase. The lactose-free products provide essential nutrients present in regular food items like vitamins, calcium, and other nutrients.
The lactose-free product's market growth is inhibited by factors like the high cost of lactose-free products and stiff competition from plant-based alternatives. Also, the high prices of lactose-free food products may limit the lactose-free products market development.
In the lactose-free products market type segmentation, the milk segment accounted for the market's highest share. This is due to the enriched benefits of the lactose-free milk, such as rich in calcium, phosphorus, vitamin B12, and vitamin D. In the production process of lactose-free milk, lactase is added due to which the lactose-free milk tastes sweeter than conventional milk and also helps in breaking the lactose into two forms of sugar.
As observed in the market based on form, the lactose-free product's market is segregated into Lactose-free, No added sugar products/ reduced sugar claims, and Reduced Lactose Products. The no added sugar products or reduced sugar claims are expected to have the highest CAGR in the market growth. The highest growth rate is ascribed to increasing consciousness towards fitness and concern about health issues such as obesity and diabetes, increasing demand for sugar-free or no added sugar products.
Based on category, the market is bifurcated into organic and inorganic. The organic segment is expected to have the maximum share in the market. This is due to the extreme benefits of organic milk products. The organic milk is taken from cows raised without antibiotics added growth hormones since the antibiotics, and added growth hormones are harmful up to a level. Hence, these are the reasons supporting the high growth of this segment.
As per the market based on geography, the Asia Pacific region is expected to hold the largest share. Drastic urbanization, increasing preference for expensive & healthy food & beverages, and rising per capita income are factors driving the market growth in this region.
The rapidly increasing lactose intolerant population is the primary driver of global market growth. The majority of the people in few regions around the world are prone to lactose intolerance. Moreover, the self-diagnosis of lactose intolerance is increasing, making consumers more concerned about their health and investing in self-diagnosis, which is surging the demand for market growth.
This report gives the Key player's profiles of the market:
Danone Company S.A.
Gujarat Cooperative Milk Marketing Federation
Dairy Farmers of America, Inc.
Johnson & Johnson Services, Inc.
The Coca-Cola Company
General Mills, Inc.
Lifeway Foods, Inc.
Companies to Watch
Lactose-Free Products Market by Type
Other milk types
Other yogurt types
Other cheese types
Lactose-Free Products Market by Form
No added sugar products/ reduced sugar claims
Reduced Lactose Products
Lactose-Free Products Market by Category
Key Topics Covered:
1. Executive Summary
2. Industry Outlook
3. Market Snapshot
4. Market characteristics
5. Type: Market Size & Analysis
6. Form: Market Size & Analysis
7. Category: Market Size & Analysis
8. Geography: Market Size & Analysis
9. Competitive Landscape
10. Vendor Profiles
11. Companies to Watch
For more information about this report visit https://www.researchandmarkets.com/r/ono7sl
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