Owing to growing consumer needs and their awareness about specialty food has grown in recent years. The growth has been driven by the increased acceptance of free-from food amongst the consumers. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Lactose Free Foods Market Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR % while achieving good growth rapidly in the forecast period.
The demand for lactose-free food products is accelerated by the factors such as changing consumer food preference and their evolving dietary pattern. Also, lactose free foods have certain benefits associated with it as they are easy to digest, exhibit enhanced bioavailability and will contribute significantly to the market growth of lactose-free products. Clean Label and organic are the major trends in the industry and industrial players are keen to leverage on these recent trends. Industrial players seek to diversify their product portfolio and launch new products in the natural preservatives segment and continue to strategize to keep the consumers interested. With an increasing demand for free-from and specialty food, market players are constantly innovating to meet the changing tastes and demand of the consumers. Companies are keeping themselves focused on product labelling and new product launches in high growth segment.
Lactose free foods demand will grow at a progressive rate in the developing nations as the emerging economies such as India, China and Brazil have a lot of room for growth. There has been less of structural rigidities and high rates of economic and demographic growth which has indirectly contributed to the growth of lactose free food market.
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The key players profiled in Global lactose free food market report include- Daiya Foods, Inc. and Lactaid, Silk, Hail Marry, Lucy’s, Go Max Go, Simply Protien, Enjoy Life, Katefarms, Dr. Praeger, Alpro,Amy’s Kitchen, Barry Callebaut, Cargill, Chr. Hansen, Crowley Foods, Doves Farm Food, Edlong Dairy Technologies, Emmi, Fonterra, Galaxy Nutritional Foods, General Mills, Green Valley Organics, HP Hood, Kerry Group, Murray Goulburn, Sweet William, TINE Laktosefri, WhiteWave Foods
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Global Lactose-free Foods Market – Regional Analysis
The global Lactose free food market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Lactose free food market is highly dominated by Europe followed by North America. The U.S. registered for a higher consumption of lactose free food and it will be the major revenue contributor in the North American region. Furthermore, increasing demand for Lactose free food in convenience food category and rising awareness about the benefits of lactose-free products among consumers in developing countries such as India, China Japan, and Brazil are likely to boost the growth of the Lactose free food market during the forecast period.