Lactose Free Food Global Market To Reach Value Of $17.6 Billion In 2025
26 Aug, 2021
The lactose-free food market consists of sales of lactose-free food and related services. Lactose is a sugar found in milk and food with ingredients including milk and whey. Lactose-free food is used as an alternative for dairy-free food items. Lactose-free dairy products contain an enzyme called lactase that helps in breaking down milk sugar galactose to avoid stomach problems such as abdominal cramping, gas, diarrhea, and bloating in people with lactose intolerance. Lactose-free food items include soya yogurts and cheeses, oat milk, rice milk, coconut-based yogurts and cheeses, carob bars, and food with “dairy-free” and “suitable for vegan” sings.
Global Lactose Free Food Market Size And Drivers:
The global lactose free food market is expected grow from $11.43 billion in 2020 to $12.47 billion in 2021 at a compound annual growth rate (CAGR) of 9.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $17.61 billion in 2025 at a CAGR of 9%. An increasing number of people with lactose intolerance are expected to contribute to the higher demand for lactose-free food products.
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Trends In The Global Lactose Free Food Market
In January 2020, the Coco-Cola company announced the full acquisition of Fairlife, a USA-based dairy beverage company for an undisclosed amount. The company announced the acquisition of the remaining 57.5% of stake in the company. The acquisition is expected to expand the dairy and non-dairy product portfolio of the company. Fairlife was founded in 2012 and markets a broad portfolio of dairy-based beverages including ultra-filtered milk and high-protein milkshakes. The company also markets lactose-free products in order to cater to a wide range of consumers.
Global Lactose Free Food Market Segments:
The global lactose free food market is further segmented based on type, application, distribution channel, source, technology and geography.
By Type: Lactose-Free Products, Lactose-Reduced Products
By Application: Milk, Cheese, Yogurt, Ice-Cream, Non-Diary Products, Others
By Distribution Channel: Supermarkets/Hypermarkets, Online Stores, Others
By Source: Rice, Almond, Soy, Hemp Milks, Coconut
By Technology: Chromatographic Separation, Acid Hydrolysis, Membrane Reactor
By Geography: The global lactose free food market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Lactose Free Food Market At:https://www.thebusinessresearchcompany.com/report/lactose-free-food-market-global-report-2020-30-covid-19-growth-and-change
Lactose Free Food Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides lactose free food market overviews, analyzes and forecasts market size and growth for the global lactose free food market, lactose free food market share, lactose free food market players, lactose free food market segments and geographies, lactose free food market’s leading competitors’ revenues, profiles and market shares. The lactose free food market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.