The significant rise in lactose-intolerant population, a growing inclination of millennials toward reduced levels of added sugar or no added sugar products, along with boost in the consumption of organic food are some of the factors propelling the growth of Global Lactose Free Dairy Ingredient market. According to the National Center for Biotechnology Information (NCBI), around 65% of the human population has a reduced ability to digest lactose after infancy. Besides this, the introduction of lactose-free products such as vegan milk, dairy free yogurt in the developing countries, and the launch of plant-based dairy-free products by the market players are strongly contributing toward the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report titled “Global Lactose Free Dairy Ingredients Market Analysis, 2020”, the Global Lactose Free Dairy Ingredients market is anticipated to grow at a CAGR of around 8% during 2021-26F. Based on Product Type, Milk segment acquired the majority market share in 2020 owing to the rising inclination toward vegan milk due to boost in disposable income and growing partnerships among the companies to launch 100% lactose-free milk. Moreover, the yogurt segment is also projected to grow at a high rate due to the introduction of various innovative range of dairy free yogurts due to a surging consumer preference toward lactose-free products and bolstering number of lactose intolerant individuals in the developed and developing countries.
“Global Lactose Free Dairy Ingredients Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Lactose Free Dairy Ingredients providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Registered the Fastest Growth
Asia-Pacific is expected to register fastest growth in Global Lactose Free Dairy Ingredients market in 2019. The growth of the segment is attributed to rising number of lactose-intolerant people, growing awareness regarding lactose-free dairy as a healthier alternative, rapid urbanization, and increase in disposable income among consumers. Moreover, the introduction of new dairy-free products and surging investment by the market players on developing plant-based dairy alternatives for consumers who are lactose intolerant are the key factors anticipated to bolster the growth of the Lactose Free Dairy Ingredients Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Lactose Free Dairy Ingredients Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Lactose Free Dairy Ingredients market are Valio Ltd, Arla Foods, Almarai Company, Lactaid, Centrale del Latte d'Italia S.p.A., Dean Foods, Granarolo Group, Holland Dairy Foods, Murray Goulburn Co-operative Co. Limited, Nestle SA, Organic Valley, Sodiaal Group, Parmalat SPA, Lactalis Group, Dairy Farmers of America, Danone SA, Saputo Inc, Groupo Lala, Praire Farms, Alpura etc.
Key questions answered in the study: