The global lactose free dairy products market is expected to reach market valuation of USD 13,874.30 million by the year 2024, accelerating with a CAGR of 5.6% by 2024-2034.
Lactose intolerance, affecting approximately 75% of people globally, has spurred a significant shift in dietary preferences. With over 40 million Americans and about one-third of the worldwide population grappling with lactose intolerance, the demand for lactose-free dairy products has skyrocketed.
Recent purchasing habits of consumers indicate that they are prioritizing their health now more than ever before. Taking the cue, manufacturers are rolling out lactose free dairy products with additional nutritional content. Surging uptake of lactose free dairy products at a 5.6% CAGR, is expected to generate market revenue of USD 23,983.50 million by 2034.
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Investment Opportunities for Lactose-Free Dairy Product Providers to Strengthen Market Position
Key players in the lactose-free dairy market are focusing on health-conscious consumers who prioritize products with lower calories and saturated fats. This strategy is driving significant investment opportunities.
To attract a younger demographic, industry leaders are introducing lactose-free dairy products in popular flavors. Hazelnut, for instance, has mass appeal, especially among millennials and Gen Z. Launching products like hazelnut milk is a strategic move to capture this market segment.
The growing use of social media by younger consumers is further encouraging companies to invest in targeted marketing campaigns. These campaigns aim to raise awareness about the nutritional benefits of lactose-free products, such as cheese, yogurt, and milk.
However, the market growth faces challenges due to the higher manufacturing costs of lactose-free dairy products compared to regular dairy products. To mitigate this, key players are focusing on promoting their high-quality, premium-priced products to affluent consumers who are willing to pay for superior quality.
“Lactose free dairy product faces stiff competition from other plant-based food products, which has slowed down the growth potential of the market,” says Nandini Roy Choudhury, Client Partner at Future Market Insights
Leading Companies Profiled in Lactose Free Dairy Products Market are:
- Green Valley Creamery
- McNeil Nutritionals
- Valio International
- Alpro
- Arla Foods Amba
- Cabot Creamery Corporation
- Saputo Dairy rProducts
- The Danone Company
- Smith Dairy Products
- Hiland Dairy Foods
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Competitive Landscape
Leading lactose free dairy products makers are preferring to create new products to provide customers with a wide range of options, while the less adopting tactics included expanding into new regions and raising knowledge about lactose-free dairy products:
- In 2020, Valio, a Finnish dairy and food firm, and Palmer Holland collaborated to distribute lactose-free milk powders. This was a critical step in bringing new value-added dairy components to the US market for both parties
- Danone launched a lactose-free food line in Spain, named Activia, with a few varieties to capitalize on the country’s lactose-free population
Lactose Free Dairy Products Market by Category
By Product Type:
- Milk
- Condensed Milk
- Milk Powder
- Yogurt
- Ice cream
- Cheese
- Other Products
By Form:
- Liquid
- Semi-solid
- Powder
By Nature:
- Organic
- Conventional
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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