Emphasis on Type (Milk, Yogurt, Ice-cream, Confectionery Products, Others); Form (Lactose-free, No-added sugar/reduced sugar claims, Reduced lactose); Category (Organic, Conventional); Distribution Channel (Supermarkets or Hypermarkets, Speciality stores, Online, Others); Region and Country
The global Lactose-Free Products is expected to display an elevated CAGR of ~9% over the forecast period (2021-2027)
A surge in the end user’s disposable income is one of the leading factors that is contributing to the growing market of Lactose-Free Products globally. Rising purchasing power in developing countries such as Australia, EU, Mexico, Brazil, India, Thailand, and China is projected to allow consumers to spend more on healthy food, which is also acting as a growth catalyst to the industry.
As per OCED, the household spending in Canada, China, Denmark, European Union, France, and Germany reached to 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 US$ million, respectively. Also, the rising purchasing power is leading to the growing investment in fashionable apparel including sleepwear, etc., which is contributing to the growing market for Lactose-Free Products.
Also, The growing geriatric population base with a higher predisposition to various age-related diseases such as digestive problems, lactose intolerance, etc. is a leading cause that is adding pace to the growth in the demand for lactose-free products for healthy diets and proper nutrition. According to the United Nations, the global population aged 60 years or over was numbered at 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050
Household disposable income Net, Annual growth rate (%), By Selected Countries, 2017 –19
The Coca-Cola Company, Nestlé, Danone Company S.A., Gujarat Cooperative Milk Marketing Federation (Gcmmf), Valio Ltd, Johnson & Johnson, General Mills, Inc., Lifeway Foods, Inc., Lala U.S., Inc., and Smith foods, Inc.., etc. are some of the prominent players operating in the Lactose-Free Products market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Type, Milk segment holds the major share”
Based on the type, the market is fragmented into milk, yogurt, ice cream, confectionery products, and others. The milk segment captured XX% market share in the Lactose-Free Products market in 2020 and dominated the market. The market share of this segment is proliferating on account of the rising number of lactose-intolerant people. As per National Center for Biotechnology Information (NCBI), nearly 65% of the global population is prone to lactose intolerance. However, the confectionery products segment would witness a considerable CAGR in the forthcoming years.
“Amongst Form, No-added sugar/reduced sugar claims segment holds the major share”
Based on the form, the market is fragmented into lactose-free, no-added-sugar/reduced sugar claims and reduced lactose. The no added sugar or reduced sugar claims segment captured XX% market share in the Lactose-Free Products market in 2020 and dominated the market
“Amongst Category, Conventional segment holds the major share”
Based on the category, the market is fragmented into organic and conventional. The conventional segment grabbed the major market share and dominated the market. However, the organic segment is expected to have the highest CAGR during the forthcoming years owing to the surging awareness among consumers
“Amongst Distribution Channel, Hypermarket/ Supermarket segment to dominate the market during the forecast period”
Based on the distribution channel, the market is fragmented into supermarkets/ hypermarkets, convenience stores, online, and others. The hypermarket/ supermarket segment grabbed major market share and dominated the market. The segment captured XX% market share in 2020. A rise in the number of hypermarkets/supermarkets is leading to the growth of the segment. However, the online segment would register the highest CAGR during the forthcoming years owing to the surging internet penetration and reach of e-commerce companies in developing and underdeveloped areas.
“North America represents one of the largest markets of Lactose-Free Products market”
For a better understanding of the market dynamics of the Lactose-Free Products market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the availability of Lactose-Free Products in abundance and new launches are some of the factors that are contributing to the growth of the market.
Reasons to buy this report:
Customization Options:
The Lactose-Free Products Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Lactose-free Products Market Covid-19 Impact
6. Global Lactose-free Products Market Revenue, 2019-2027f
7. Market Insights By Type
8. Market Insights By Form
9. Market Insights By Category
10. Market Insights By Distribution Channel
11. Market Insights By Region
12. Lactose-free Products Market Dynamics
13. Lactose-free Products Market Opportunities
14. Lactose-free Products Market Trends
15. Legal & Regulatory Framework
16. Demand And Supply Side Analysis
17. Value Chain Analysis
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Lactose-Free Products Market were the three major steps undertaken to create and analyze the demand for Lactose-Free Products across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Lactose-Free Products market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Lactose-Free Products through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Lactose-Free Products market, we conducted a detailed secondary analysis to gather historical market insights and share for type, form, category, and distribution channel for major regions. Major segments included in the report are type and distribution channels. Further region and country-level analyses were conducted to evaluate the overall adoption of Lactose-Free Products across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Lactose-Free Products. Further, we conducted factor analysis using dependent and independent variables such as growth in disposable income, surging e-commerce sectors, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Lactose-Free Products industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Lactose-Free Products market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Lactose-Free Products market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of material, distribution channel, and end-user of the Lactose-Free Products market.
Main Objective of the Lactose-Free Products Market Study
The current & future market trends of Lactose-Free Products were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Deep dive regional level analysis of the industry
Customers who bought this item also bought
Experiential Retail Market: Current Analysis and Forecast (2024-2032)
Emphasis on Type of Experience (In-Store Technologies (AR, VR, AI), Multi-Sensory Experiences (Scent, Sound, Visual), Pop-Ups & Immersive Installations, Live Events & Demonstrations, and Others); Retail Format (Department Stores, Specialty Stores, Pop-Up Stores, Flagship Stores, and Others); Industry (Apparel and Fashion, Beauty and Personal Care, Consumer Electronics, Luxury Goods, Food and Beverage, Home Decor, and Others); and Region/Country
November 7, 2024
