The lactose-free products market 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. Factors such as the increasing awareness of lactose intolerance among consumers across regions and the growing demand for reduced added sugar or no added sugar products are projected to drive the growth of the lactose-free products industry during the forecast period.
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Asia Pacific is projected to account for the largest market share during the forecast period
The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The significant growth of the economy in countries, rapid urbanization, an increase in demand for expensive and healthy food & beverage products, the increase in the westernization of consumer diets are some of the major factors driving the growth of lactose-free products in the region.
Key Market Players:
Gujarat Cooperative Milk Marketing Federation (India), Valio LTD (Finland), Danone Company S.A. (France), Nestle S.A. (Switzerland), The Coca-Cola Company (US), Johnson & Johnson Services, Inc. (US), General Mills, Inc. (US), Lifeway Foods, Inc. (US), Lala U.S. (US), Organic Valley (US).
By type, the milk segment is projected to account for the largest share in the lactose-free products market during the forecast period
Lactose- free milk is a rich source of protein, calcium, phosphorus, vitamin B12, riboflavin, and vitamin D. Lactose-free milk is produced by adding lactase to regular cow’s milk. The lactose-free milk tastes sweeter than regular milk because during the process of production lactase is added to lactose-free milk that helps in breaking down of lactose into two sugar forms namely; glucose and galactose. This is the key factor driving the growth of milk segment in market.
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By form, no added sugar or reduced sugar claims segment is projected to be the fastest growing segment in the lactose-free products market during the forecast period
By form, the no added sugar or reduced sugar claims segment is projected to be the fastest-growing segment. Due to the increase in awareness about health concerns, such as obesity and diabetes, consumers witness a high demand for no added sugar or reduced sugar products. For catering to the changing demands of consumers, many players in the dairy industry are focusing on introducing lactose-free dairy products with reduced added sugar or no added sugar claims. The trend of using reduced added sugar or no added sugar drives the lactose-free products market.