Innovative Lactose-Free Dairy Products Drive Market Growth, Projected to Reach $11.88 Billion in 2023

DUBLIN, July 24, 2023 /PRNewswire/ -- The "Lactose-Free Dairy Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers, and senior management with critical information needed to assess the Lactose-Free Dairy market. The market is projected to grow from $10.95 billion in 2022 to $11.88 billion in 2023, with a compound annual growth rate (CAGR) of 8.5%. Furthermore, the market is expected to reach $16.13 billion by 2027, with a CAGR of 8.0%.

Major players in the Lactose-Free Dairy market include Dairy Farmers of Americas Inc., General Mills Inc., Lifeway Foods Inc., Nestle S.A., Saputo Inc., The Coca-Cola Company, Organic Valley, Johnson & Johnson, Prairie Farms Dairy Inc., Omira GmbH, Hiland Dairy Foods, Meggle Group, Murray Goulburn Co-Operative Co. Ltd., Arla Foods AMBA, Valio Ltd., The Kroger Company, and Cabot Creamery Cooperative Inc.

Reasons to Purchase:

• Gain a comprehensive global perspective with detailed coverage of 50+ geographies.
• Understand the market's response to COVID-19 and how it is responding as the impact of the virus abates.
• Assess the direct and indirect effects of the Russia-Ukraine war on agriculture, energy, mineral commodity supply, and the market.
• Measure the influence of high global inflation on market growth.
• Develop regional and country-specific strategies based on localized data and analysis.
• Identify investment opportunities in growth segments.
• Outperform competitors using forecast data and insights into market drivers and trends.
• Understand customer dynamics based on the latest market shares.
• Benchmark performance against key competitors.
• Support internal and external presentations with reliable high-quality data and analysis.

Lactose-free dairy products contain all the nutrients present in regular dairy except lactose. They are intended for individuals with lactose intolerance, while not being suitable for those with milk allergies or following a vegan or dairy-free diet.

The main types of lactose-free dairy products include milk, cheese, yogurt, and others. Lactose-free milk is available in solid, liquid, and powder forms, and is distributed through various channels such as hypermarkets or supermarkets, convenience stores, online channels, and others.

Product innovations are a key trend gaining popularity in the lactose-free dairy market. Major companies are introducing innovative products such as animal-free creams and easy-to-digest products to sustain their position in the market.

For instance, in February 2022, US-based Modern Kitchen launched the world's first animal-free cream cheese, made from precision fermentation technology. The product is lactose-free, hormone-free, and cholesterol-free.

Europe was the largest region in the lactose-free dairy market in 2022, while Asia-Pacific is expected to experience significant growth in the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Key countries analyzed in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The rise in consumption of organic food and beverages is expected to propel the growth of the lactose-free dairy market. Organic foods are produced without involving any chemicals or human-made substances. Lactose-free dairy products harvested using organic methods are preferred by people who consume organic foods, driving the growth of the lactose-free dairy market.

For instance, between 2020 and 2021, organic sales reached $63 billion, with $1.2 billion (2%) year-on-year growth. As a result, the increasing consumption of organic food and beverages is driving the growth of the lactose-free dairy market.

The lactose-free dairy market consists of sales of low-lactose butter, low-lactose protein powders, and kefir. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Key Topics Covered:

1. Executive Summary

2. Lactose-Free Dairy Market Characteristics

3. Lactose-Free Dairy Market Trends And Strategies

4. Lactose-Free Dairy Market - Macro Economic Scenario
4.1. COVID-19 Impact On Lactose-Free Dairy Market
4.2. Ukraine-Russia War Impact On Lactose-Free Dairy Market
4.3. Impact Of High Inflation On Lactose-Free Dairy Market

5. Lactose-Free Dairy Market Size And Growth
5.1. Global Lactose-Free Dairy Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Lactose-Free Dairy Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Lactose-Free Dairy Market Segmentation
6.1. Global Lactose-Free Dairy Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Milk
• Cheese
• Yogurt
• Other Types

6.2. Global Lactose-Free Dairy Market, Segmentation By Form, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Solid
• Liquid
• Powder

6.3. Global Lactose-Free Dairy Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Hypermarkets Or Supermarkets
• Convenience Stores
• Online Channels
• Other Distribution Channels

7. Lactose-Free Dairy Market Regional And Country Analysis
7.1. Global Lactose-Free Dairy Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Lactose-Free Dairy Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/rpo05a

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets