The global lactose free dairy product market value is expected to rise from US$ 13,874.30 million in 2024 to US$ 23,983.50 million by 2034. This market is analyzed to expand at a CAGR of 5.60% over the next decade.
Global demand for lactose free dairy products is picking up as consumers seek alternatives that better align with their nutritional requirements. The market is largely driven by an increasing lactose-intolerant population. Significant potential in this market is compelling players to innovate new lactose-free dairy products, adopt sustainable packaging solutions, and refine their manufacturing processes.
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Health-conscious consumers are increasingly turning to lactose-free dairy products as they contain minerals and vitamins like vitamin D and calcium that are critical for bone health. Additionally, lactose-free alternatives are typically lower in saturated fats and calories, which is raising its appeal among people who intend to control their weight.
“Key players are expected to focus on the accessibility of lactose free dairy products by partnering with local distributors and retailers. Additionally, leading firms are employing targeted marketing efforts to establish themselves in new territories,” says an analyst of Future Market Insights.
Key Takeaways from the Lactose Free Dairy Product Market Report
- The lactose free dairy product industry expanded at a steady rate of 5.23% CAGR from 2019 to 2024. At the beginning of the historical period, the market was worth US$ 11,235.40 million. Fast forward to the present year, i.e., the market holds the potential to go beyond the US$ 13,874.30 million valuation.
- Main earnings generated in the lactose free dairy product industry are from the milk segment, which is expected to hold a sizeable 34.2% share in 2024.
- Liquid lactose free dairy products are predominantly consumed by customers. Latest FMI estimates display that the liquid form is forecast to achieve 45.3% in 2024.
- In developed countries like Germany and the United States, the consumption of lactose free dairy products is predicted to rise at CAGRs of 6.6% and 5.2%, respectively, in the assessment period.
- In developing countries, like India and China are the promising markets for lactose free dairy products. India is predicted to surge at an 8.4% CAGR, while China is forecast to record 7.1% CAGR.
Competitive Landscape
Key players are driven to experience growth by collaborating with leading companies that also share the goal of a greener tomorrow. In this regard, many firms are turning to precision fermentation to not compromise product quality and continue developing products as per evolving customer demands for the planet’s future. Precision fermentation reduces GHG emissions, blue water usage, and non-renewable energy use as opposed to conventional production methods.
Industry participants are strategizing for a widened scope by venturing into new territories. This includes careful planning and implementation of product release in additional cities outside the initial launch location. This way brands can seize a bigger market share and connect with a large audience base. To extend the product’s offering to different cities, key players are using targeted marketing efforts to ascertain an impactful and successful entry into each new territory.
Latest Product Releases
- In February 2024, Perfect Day, which is a leading innovator and supplier of precision fermentation, partnered with Unilever's Breyers to release Breyers lactose-free chocolate formed with Perfect Day's dairy protein from fermentation. This product offers customers the same indulgent experience they have loved for decades sans lactose and a diminished environmental footprint.
- In August 2023, Skyrrup introduced lactose-free Greek Yogurt for yogurt lovers. This yogurt is made from A2 cow milk and contains 7.5 grams of protein content, which not only offers the necessary nourishment but also tantalizes the senses. The firm deftly blends protein power with incredible benefits, thus offering a convenient and delightful way to focus on health.
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