The global lactose free dairy products market is primarily characterised by the presence of a large number of regional and multinational companies. According to a recently published report by Future Market Insights titled “Lactose Free Dairy Products Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017–2027),” the global lactose free dairy products market is estimated to be valued at US$ 10,582.5 Mn by 2017 end and is forecast to be valued at US$ 17,809.4 Mn by 2027 end. Sales revenue is expected to increase at a CAGR of 5.3% during the forecast period 2017 – 2027.
Global Lactose Free Dairy Products Market: Drivers: Rise in organic food and beverage consumption is driving the lactose free dairy products market. Mature market 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. Prevalence of lactose intolerance in the Latino population is driving consumers towards lactose free solutions in dairy products. Improving global economics is triggering consumer preference for premium products such as lactose free dairy products. High lactose intolerant population in certain regions is expected to create good potential for lactose free dairy products. A growing foreign population in the GCC and South African region is expected to drive demand for lactose free dairy products. An increasing global urban population is expected to drive the lactose free milk and other lactose free dairy products market.
On the basis of nature, the global lactose free dairy products market is segmented into organic and conventional segments. The global lactose free dairy products market is expected to be dominated by the conventional segment over the forecast period owing to its competitive price point. However, in terms of value, the organic segment is anticipated to witness high CAGR growth over the forecast period as a result of increasing demand for organic products across the globe.
On the basis of distribution channel, the global market for lactose free dairy products is segmented into supermarkets/hypermarkets, convenience stores, speciality stores and e-retailers. In terms of volume, the speciality stores segment is expected to witness comparatively low CAGR growth over the forecast period. In terms of value, the e-retailers segment is projected to witness high CAGR growth over the forecast period as a result of the increasing penetration of the internet and adoption of online shopping globally.
The form segment comprises semi-solid, liquid, and powder segments. In terms of growth, the liquid segment dominates the global market with a CAGR of 5.5% throughout the projected period. This growth can be attributed to a large volume consumption of whole milk. The semi-solid segment is also expected to perform well over the study period owing to increasing demand for yoghurt and cream based products.
On the basis of product type, the global market for lactose free dairy products is segmented into milk, condensed milk, milk powder, yoghurt, ice cream, desserts, butter/cheese, infant formula, processed milk products. The milk segment is anticipated to witness comparatively high growth over the forecast period owing to increased demand in the global market.
In a majority of the developed as well as developing countries, increased per capita spending on dairy products is expected to drive revenue growth of lactates and related ingredients. This growing demand for milk and milk products offers significant growth opportunities for dairy products manufacturers. This is boosting the consumption and sales of lactose free dairy products across various regional markets.
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