Dublin, July 16, 2020 (GLOBE NEWSWIRE) -- The "Lactose Free Butter Market by Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report the global lactose free butter market size was valued at $222.9 million in 2018, and is projected to reach $388.4million by 2026, growing at a CAGR of 7.1% from 2019 to 2026. In 2018, North America accounted for nearly 40.7% share of the lactose free butter market.
Lactase is a type enzyme produced generally in the body to breakdown lactose present in dairy or other similar products. The inability to digest lactose, from milk or dairy products is called lactose intolerance. This intolerance results in gas, bloating, and abdominal pain. Some types of food intolerances, including lactose intolerance are treatable. Lactose-free milk is an easy alternative that could help eliminate many of these unpleasant symptoms. Lactose-free milk contains the same taste, texture, and nutrient profile as that of regular milk. Conveniently, it can be used in the same way. Lactose free butter is a product of lactose free milk.
Like normal milk, lactose-free dairy alternatives area great source of protein and are able to provide all essential nutrients present in regular dairy products, like calcium and vitamins, to those that are not able to digest lactose. Lactose-free milk is produced by adding lactase to regular milk. In recent years, the quality and product variety in lactose-free dairy has increased significantly, giving consumers more alternatives for lactose free products.
The rise in incidences of lactose intolerance has led to a rise in demand for lactose free butter by consumers. In majority of developed as well as developing countries, increased per capita spending on dairy products is expected to drive revenue growth for lactose free products. This growing demand for lactose free milk and butter offers significant growth opportunities for dairy product manufacturers during the forecast time period. This boosts the consumption and sales of lactose free butter across various regional markets.
Rise in organic food and beverages consumption also drives the lactose free butter market. Mature markets for lactose free dairy products and a well aware consumer base is anticipated to boost the growth of new offerings of lactose free dairy products. The prevalence of lactose intolerance in millennial population is driving them toward lactose free solutions in the butter segment. The popular trend of healthy living has increased awareness among consumers about considering ingredients used in food products. Income level and age group play major roles in determining the purchase of lactose free butter. Millennials are clearly driving this shift; however, a rise in the number of baby boomers also boost the market growth.
Some of the key companies profiled in the report include The Kraft Heinz Company, The Hain Celestial Group, Inc., Cargill Inc., Corbion Inc., Kerry Group PLC, Ingredion Incorporated, ChrHasen A/S, Dupont, Kellogg Company, and General Mills, Inc.
- The report provides an extensive analysis of the current and emerging market trends and opportunities in the lactose free butter market.
- The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
- Depending on application, the household segment garnered 82.0% of the lactose free butter market share in 2018, and is expected to grow at a CAGR of 7.6% from 2019 to 2026.
- The commercial segment was valued at $39.9million and is expected to reach $59.3million by 2026, registering a CAGR of 5.0 %.
- In 2018, by distribution channel, the specialty stores segment accounted for 50.3% share of the lactose free butter market, and is expected to grow at the CAGR of 6.3%.
- The online retail stores segment was valued at $7.8million, and is expected to reach $14.6 million by 2026, registering the highest CAGR of 11.5%.
- Region wise, North America accounted for a prominent market share in 2018, and is anticipated to grow at a CAGR of 5.9% throughout the forecast period.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1.1. Top investment pockets
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Parent/Peer Market Overview
3.3. Top Impacting Factors
3.4. Key Forces Shaping Lactose Free Butter Market
3.4.1. Low-to-high bargaining power of suppliers
3.4.2. Moderate-to-high threat of new entrants
3.4.3. Moderate threat of substitutes
3.4.4. Moderate intensity of rivalry
3.4.5. Low-to-moderate bargaining power of buyers
3.5. Pricing Analysis
3.5.1. Pricing Analysis of Product A, By Region, 2018 & 2025
3.6. Market evolution/Industry roadmap
3.7. Value Chain Analysis
3.8. Government regulations
3.8.1. FSSAI Drafted new standards for lactose content and dairy permeate powders
3.9. Industry Pain point analysis
3.10. Market dynamics
220.127.116.11. The prevalence of lactose intolerance in the global population
18.104.22.168. Improving global economics, which are triggering consumer preference for premium products such as lactose free dairy products
22.214.171.124. Availability of alternative products
126.96.36.199. Better tasting and nutritional varieties of lactose free butter
188.8.131.52. Rise in consumption of lactose free butter in developing economies
3.11. Consumer analysis
3.11.1. Factor important for purchase of lactose free products
3.11.2. Customers likely to check lactose free products ingredients
3.11.3. Dairy alternatives consumption
3.11.4. Reasons for dairy avoidance
3.11.5. Dairy alternative consumption
3.11.6. Europe consumer reasons for dairy avoidance
3.11.7. Dairy alternatives consumption
3.11.8. Asia-Pacific consumer reasons for dairy avoidance
3.11.9. Consumers have tried dairy alternatives, but don't like them
3.11.10. LAMEA consumer reasons for dairy avoidance
CHAPTER 4: LACTOSE FREE BUTTER MARKET, BY APPLICATION
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis by country
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis by country
CHAPTER 5: LACTOSE FREE BUTTER MARKET, BY DISTRIBUTION CHANNEL
5.2. Supermarket and Hypermarket
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis by country
5.3. Specialty Store
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis by country
5.4. Online retail stores
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market analysis by country
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market analysis by country
CHAPTER 6: LACTOSE FREE BUTTER MARKET, BY REGION
6.1.1. Market size and forecast, by region
6.2. North America
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1.1. MARKET PLAYER POSITIONING, 2018
7.2. Competitive Dashboard
7.3. Competitive Heatmap
7.4. Key developments
7.4.2. Product launch
CHAPTER 8: COMPANY PROFILES
8.1. Arla Foods amba (Arla)
8.1.1. Company overview
8.1.2. Key Executives
8.1.3. Company snapshot
8.1.4. Operating business segments
8.1.5. Product portfolio
8.1.6. R&D Expenditure
8.1.7. Business performance
8.2. Conagra Brands, Inc.
8.3. Green Valley Creamery
8.4. Shedd's Country Crock (Upfield)
8.5. Social Nature
8.6. Valio Ltd
8.7. Uelzena Ingredients
8.8. Challenge Dairy
8.9. LACTAID (McNeil Nutritionals, LLC)
8.10. Morrisons Ltd
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