(Entertainment-NewsWire.com, June 26, 2020 ) According to MarketsandMarkets, the “Lactose-Free Products Market by Type (Milk, Cheese, Yogurt, Ice-cream, Confectionery products), Form (Lactose-free, No added sugar/ Reduced sugar claims, Reduced lactose), Category (Organic, Inorganic), and Region – Global Forecast to 2025” 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. The growth and awareness among lactose intolerant population regarding self-diagnosis all across the globe is causing a rise in the demand of lactose-free products.
The cheese segment is projected to witness significant growth during the forecast period.
Based on type, the cheese segment of lactose-free products market is projected to witness significant growth rate during forecast period due to the increase in consumer interest and importance of lactose-free cheese as an ingredient in the food industry, as it offers similar nutritive values to regular cheese. In addition, it is among the popular and preferred breakfast ingredients, which is majorly consumed with breads and offer natural, as well as authentic taste.
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The inorganic segment is projected to account for a major share in the lactose-free products market during the forecast period
By form, the lactose-free products market is segmented into organic and inorganic. Low cost of products and ease in the processing of inorganic products are the key factors encouraging the high adoption of inorganic lactose-free products across the globe. Furthermore, the price of inorganic lactose-free milk is nearly half the price of organic lactose-free milk, which helps in catering to consumers that are not looking for premium products.
The North America region dominated the lactose-free products market with the largest share in 2019, whereas Asia-Pacific is expected to witness the highest growth rate.
The lactose-free products market in North America is dominant due to the growing demand for different types of lactose-free products such as drinkable yogurt, flavored ice-cream, and flavored milk. Also, the North American population has awareness and self-diagnosis for lactose intolerance. In addition, the increase in no sugar or reduced sugar trends are factors that are projected to drive the growth of the lactose-free products market in the region.
The fastest growing market is Asia-Pacific for lactose-free products market. The increase in disposable income among consumers and the demand for health and wellness products have encouraged the consumption of lactose-free products. The increase in urbanization in the region has led to a high demand for food security and premium quality food products. Consumers are willing to pay extra for health-enriching food & beverage products. These factors are projected to encourage the growth of the lactose-free products market in the region.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as The Coca-Cola Company (US), GCMMF (India), Nestle (Switzerland), Danone Company S.A (France), Valio Ltd. (Finland), General Mills (US), Johnson & Johnson Services, Inc. (US), Lifeway Foods Inc. (US), LALA U.S (US), Dean Foods (US), Organic Valley (US), Dairy Farmers of America (US), Shamrock Foods (US), Saputo Inc. (Canada), Prairie Farms Dairy (US), Agri-Mark, Inc. (US), Smith Foods, Inc. (US), Meggle Group GMBH (Germany), Drums Food International Pvt Ltd. (India), and Granlatta Societa Cooperative Agricola ARL (Italy).
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