Lactose free food Market -by Type (Milk, Breads, Fats, Soups and Sauces, Desserts), source (soy, rice, coconut, almond and hemp milks), Application (confectionery, bakery products, sauces, and dairy products) and Region - Forecast to 2027
pune, India -- (SBWIRE) -- 04/17/2018 -- Market Overview:
Owing to growing consumer needs and their awareness about specialty food has grown in recent years. The growth has been driven by the increased acceptance of free-from food amongst the consumers. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report "Global Lactose Free Foods Market Research Report- Forecast to 2027" that the market will demonstrate an exceptional CAGR while achieving good growth rapidly in the forecast period.
There has been growing demand of lactose free foods across the world owing to rising incidence of lactose intolerance. According to Lactose Intolerance Global Network (LIGN), majority of the worldwide adult population suffers from lactase deficiency, except for the population of Northern and Central Europe. With growing consumer concern over animal welfare, human health and the environment has led to the rising trend of veganism which has become a mainstream now. Veganism is associated with variety of beneficial health effects such as better heart health, improved diabetes, and lower rates of obesity, among others. Israel, Sweden, Japan, Poland, U.S., Germany, and U.K. have the largest concentration of vegans. Vegans look for animal ingredients alternatives and replace it with vegan ingredients which drives the demand of lactose free food.
The demand for lactose-free food products is accelerated by the factors such as changing consumer food preference and their evolving dietary pattern. Also, lactose free foods have certain benefits associated with it as they are easy to digest, exhibit enhanced bioavailability and will contribute significantly to the market growth of lactose-free products. Clean Label and organic are the major trends in the industry and industrial players are keen to leverage on these recent trends. Industrial players seek to diversify their product portfolio and launch new products in the natural preservatives segment and continue to strategize to keep the consumers interested. With an increasing demand for free-from and specialty food, market players are constantly innovating to meet the changing tastes and demand of the consumers. Companies are keeping themselves focused on product labelling and new product launches in high growth segment.
Lactose free foods demand will grow at a progressive rate in the developing nations as the emerging economies such as India, China and Brazil have a lot of room for growth. There has been less of structural rigidities and high rates of economic and demographic growth which has indirectly contributed to the growth of lactose free food market.
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Latest Industry Updates:
February 2017, Galaxy Nutritional Foods, Inc., has launched new Vegan Snack Bars in two unique flavors – White American and White Cheddar & Meatless Bacon
March 2017, Violife Foods has launched dairy free vegan cheese particularly in Canada
May-2016, Kite hill cheese made a collaboration with General Mills, Inc. to acquire an investment of the USD 18 million to increase the product line of the non-dairy cheese.
Major Key Players:
Lactose free food market offers huge growth opportunities for the industrial players. The market is fragmented and marked by the presence of several large and small-scale vendors. Market players are pouring in million dollars for product innovation. Innovative premium products and strengthening product portfolio remain the central focus of the companies. Companies extensively invest on marketing activities including celebrity endorsement to leverage on current market trends. Most of the industrial players are diversifying and augmenting their capacities based on strategic product positioning and target audience.
With manufacturers aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points from both supply and demand side. Industrial players are relying on strategic acquisition, new product launch, partnership & collaboration to capture the growth opportunity. New product launch & development has become the major strategy for key players from last few years which are contributing the maximum share of strategy. Expansion and acquisition are other two main factors which are contributing significantly to help the company to increase their production capacity to fulfill increasing demand for various food & beverage products. The key market players profiled in Lactose free food are Daiya Foods, Inc. and Lactaid, Silk, Hail Marry, Lucy's, Go Max Go, Simply Protien, Enjoy Life, Katefarms, Dr. Praeger, Alpro,Amy's Kitchen, Barry Callebaut, Cargill, Chr. Hansen, Crowley Foods, Doves Farm Food, Edlong Dairy Technologies, Emmi, Fonterra, Galaxy Nutritional Foods, General Mills, Green Valley Organics, HP Hood, Kerry Group, Murray Goulburn, Sweet William, TINE Laktosefri, WhiteWave Foods.
The global Lactose free food market has been divided into type, source, and region.
On The Basis Of Type: Milk, Breads, Fats, Soups and Sauces, Desserts, and Others
On The Basis Of Source: Soy, Rice, Coconut, Almond, and Hemp milks
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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The global Lactose free food market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Lactose free food market is highly dominated by Europe followed by North America. The U.S. registered for a higher consumption of lactose free food and it will be the major revenue contributor in the North American region. Furthermore, increasing demand for Lactose free food in convenience food category and rising awareness about the benefits of lactose-free products among consumers in developing countries such as India, China Japan, and Brazil are likely to boost the growth of the Lactose free food market during the forecast period.