Health consciousness coupled with rising purchasing power of the consumer has kept the global lactose-free dairy products market buzzing. The market has been growing steadily, and forecasts show that it will sustain its growth in the period 2018-2026.
An upcoming Transparency Market Research report encompasses every important detail about the global lactose-free dairy products market. It provides critical information on the market’s overall scenario, potential drivers and restraints, geographical distribution, key players, and its future projections. These insights will be crucial for existing and emerging players.
Global Lactose-Free Dairy Products Market: Drivers and Restraints
The rise in consumption of organic food and beverages is a crucial driver of the global lactose-free dairy products market. This can be attributed to the growing awareness about the adverse effects of unethical and synthetic ingredients used in non-organic foods. Many economically developed nations have implemented stringent laws to ensure high-quality production of organic milk. This has developed trust in the minds of consumers about lactose-free dairy products.
The increasing fascination among consumers for lactose-free dairy products has resulted in variety in the product line. Consumers expect variety in their dairy products such as yoghurt, flavored milk, sugar-free products, and cheese.
The constantly growing lactose-intolerant population is a key driver for the global lactose-free dairy products market. Lactose intolerance is quite prevalent among Latinos. The number of people with this health condition are increasing in other parts of the world, too.
Another factor that propels the global lactose-free dairy products market is the expanding migrant population in some African and Asia countries. People from North America, Europe, North Africa, and Russia have higher tendencies of lactose malabsorption.
The purchasing power of the consumers has risen drastically in some parts of the world, especially the developing economies. This has triggered consumer’s interest for premium food products.
When it comes to challenges, taste has remained a constant concern for consumers. Lactose-free products contain arylsulfatase, which converts natural ingredients of milk into paracresol. This gives the lactose-free product an undesirable taste.
Global Lactose-Free Dairy Products Market: Geographical Distribution
The global lactose-free dairy market is divided into North America, Europe, Asia Pacific, Middle East, and Latin America. Europe is expected to hold the highest share of the global lactose-free dairy products market. Milk production in this region is high. North America is projected to witness a stable growth. The demand for cream-based products and yoghurt in this region will push the demand. Lactose-free dairy products have become a prominent part of supermarkets in the U.S. The rising migrant population in the Gulf Cooperation Council (GCC) region is believed to boost the Asia Pacific region. The growing lactose intolerant population in China and Japan is also considered as push for the market in this region.
Global Lactose-Free Dairy Products Market: Competitive Dynamics
Most countries are sufficient in milk production, making the global lactose-free dairy products market self-sufficient. This has paved way for new players to enter this market. Nestle S.A., Shamrock Foods Company, The Danone Company Inc., Valio International, are the important players in the global lactose-free dairy products market. These companies have come to hold a prominent position in the market through partnerships with retailers in the domestic market and private label offerings.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.