Lactose Free Dairy Products Market to Observe Strong Development by 2027
The global lactose free dairy products market is expected to be dominated by the Europe regional market over the forecast period
In terms of production of lactose free dairy products, Eastern Europe is currently self-sufficient in dairy production. The Eastern Europe region alone produces over 60 Mn MT of lactose free dairy products every year. Several companies in this region are launching new lactose free dairy products. Also, producers in this region are working towards introducing low cost lactose free dairy products to fulfill the demands of the health conscious population of this region.
A major consumer shift towards organic food and beverages has been witnessed in the food and beverages market of Western Europe since the past few years. This shift has occurred mainly due to increasing awareness among consumers regarding the unethical and synthetic ingredients in non-organic food and beverages products. This is the precise reason that production of organic milk is stringently regulated in this region and even to sell milk one needs to obtain the necessary license from relevant authorities. Due to these rules, consumers have confidence that whatever they are consuming has been well inspected. This provides the necessary encouragement to manufacturers to venture into organic lactose free dairy products over other non-organic products.
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Global lactose free dairy products market structure
An approximate share of 45%-50% is accounted for by multinational players who offer a wide range of lactose free dairy products in the global market. Western Europe is the top producer of lactose free milk and products. Companies such as Valio International, Shamrock Foods Company, Arla Foods, Dean Foods, The Danone Company Inc., Murray Goulburn Co-Operative, Nestle S.A. operate in the lactose free dairy products market. Primarily these players focus on private label offerings and collaboration with retailers in the domestic market.
General preference of dairy over alternative milk to keep the lactose free dairy products market at a healthy growth rate
The consumption of dairy products is the highest among the global population. However, alternative dairy products are not much popular among consumers and they still prefer dairy products over other alternatives such as plant based products, due to the different taste of plant based dairy products, which is not all that popular among consumers. Moreover, limitations in the usage of plant based dairy products over culinary food is another reason why the growth of lactose free dairy products in the global market is rapidly increasing across the globe.
By product type, the yogurt segment was valued at more than US$ 2,300 Mn in the year 2017 and by the end of the projected period i.e. in 2027, the yogurt segment is likely to reach a market valuation of more than US$ 4,000 Mn, expanding at a CAGR of 4.7%. The yogurt segment is anticipated to dominate in terms of value in the global lactose free dairy products market over the forecast period with a revenue share of more than 20% in the year 2017.
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Salient Features of this report:
• SWOT analysis conducted by XploreMR displays sales analysis, market analysis, sustainability strategies adopted by top key players
• In this report XploreMR’s team assess the worth of the market by segments, by countries, by application with revenue, share and sales by top key players in this various region.
• The global lactose free dairy products market is expected to grow in North America, Europe, Japan such as Mexico, Argentina ,Germany ,UK , France owing to the increase in consumer buying pattern.
• XploreMR’s comprehensive analysis states how market drivers, restraints and future opportunities will effect the market dynamics