The lactose-free productsmarket isprojected to grow at a CAGR of8.7% during the forecast period
According to MarketsandMarkets, the lactose-free products market is estimated to be valued atUSD 12.1billion in 2020and is projected to reach USD 18.4billion 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 andthegrowing demand for reduced added sugar or no added sugar productsare projected to drive the growth of the lactose-free productsindustry during the forecast period. However, the growth of the lactose-free productsmarket is inhibited by factors, such ashigh cost of lactose-free products and stiff competition from plant-based alternatives.
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By Category, Organic segment is projected to be the fastest-growing segment during the forecast period
The change in consumer perceptions toward healthy eating, increasing health consciousness among consumers, and growing awareness about the nutritional benefits of organic products have encouraged the growth of organic lactose-free products market. The increase in consumer consciousness about clean products and concerns about health issues related to artificial products and health benefits pertaining to naturally produced organic food products are factors encouraging the growth of the organic lactose-free products market.
The Asia Pacific regionis projected to grow at the highest CAGR 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 premium and healthy food & beverage products, and the increase in the westernization of consumer diets are some of the major factors driving the growth of lactose-free products in the region.
The lactose-free productsmarketis segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America,and RoW (Africa and the Middle East)
Leading players profiled in this report include the following:
• Gujarat Cooperative Milk Marketing Federation (India)
• Valio LTD (Finland)
• Danone Company S.A. (France)
• Nestlé (Switzerland)
• The Coca-Cola Company (US)
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This report segmentsthelactose-free productsmarketon the basis oftype, form, category, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape,pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the lactose-free productsmarket, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.