Pune, India, March 12, 2021 (GLOBE NEWSWIRE) -- The global lactose-free food market size is set to gain momentum from the rising cases of lactose intolerance among the populace. According to a survey by Medline Plus conducted in August 2020, around 65% of people have a low ability to digest lactose after infancy. Also, the condition is most prevalent in East Asia. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Lactose-free Food Market, 2021-2028.”
The global food and beverage industry includes a large number of offline and online food chains. The COVID-19 pandemic has surged the demand for packaged food and beverages, such as shelf-stable foods and milk products. But, the complete shutdown of restaurants and bars in few countries worldwide may hamper growth in the forthcoming years. Our accurate research report will help you get a complete picture of the lactose-free food industry.
A list of reputed companies in the lactose-free food market globally are;
- Cargill, Inc.
- Galaxy Nutritional Foods, Inc.
- Green Valley Organics
- Edlong Dairy Technologies
- Parmalat SpA
- Valio Ltd.
- OMIRA Oberland-Milchverwertung
- Crowley Foods
- Arla Foods
- Other key market players
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Availability of Various Products to Drive the Supermarkets/Hypermarkets Segment
By the source, the market for lactose-free food is divided into almond, soy, coconut, and others (hemp and oats). Based on the product type, it is segregated into lactose-free infant formula, lactose-free dairy, lactose-free confectionery, and lactose-free bakery. By the distribution channel, it is categorized into online retail, convenience stores, and supermarkets/hypermarkets. Out of these, the supermarkets/hypermarkets segment is anticipated to procure the largest lactose-free food market share in the near future. This growth is attributable to the availability of a wide range of products under the same roof. Coupled with this, the presence of separate shelves and attractive discounts on bulk purchasing would propel growth.
The report provides an authentic assessment of several customers’ journeys associated with the market, regions, and segments. Besides, it delivers customer impressions about lactose-free food and distribution channels. The business intelligence and consultation solutions would aid interested stakeholders to refine customer experience maps developed as per their requirements. They can transform customer engagement with their in-house brands.
Drivers & Restraints-
Increasing Adoption of Vegan Diet to Favor Growth Globally
Nowadays, many people are inclining rapidly towards vegan diet because of environmental sustainability, animal welfare, and awareness of health. It is expected to accelerate the lactose-free food market growth in the near future. Apart from that, the surging cases of lactose intolerance among adults and infants are set to aid growth. However, unlike dairy-based products, lactose-free food items are very expensive. Coupled with this, the lack of awareness of these products in emerging nations may obstruct growth.
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Rising Environmental Awareness and Product Improvisation to Help North America Lead
Geographically, North America is currently in the leading position in terms of revenue and is likely to retain its position in the upcoming years. The trend of consuming vegan food and rising environmental awareness are projected to boost regional growth. Renowned manufacturers operating in this region are introducing improvised lactose-free food items, such as pasta made with quinoa, maize, and rice. Such initiatives would also augment growth.
Asia Pacific, on the other hand, is expected to grow substantially on account of the rapid urbanization. In developing countries, rising disposable incomes of consumers and the popularity of a westernized culture would drive growth. In Europe, lactose-free food items are gaining traction fueled by the rising obese population. Additionally, the increasing number of fitness enthusiasts and demand for low-fat food and beverages in the region would propel growth.
Key Players Aim to Launch Novel Dairy-free Food Items to Attract More Vegan Consumers
The global market is highly fragmented with the presence of a wide range of companies. They are majorly focusing on research and development activities to launch state-of-the-art lactose-free food items for catering to the surging demand for vegan foods. Below are the two latest industry developments:
- March 2021: BiaVest acquired a stake in Nobó, a dairy-free chocolate and ice-cream producer based in Dublin. This investment will aid the company to conduct a drive during the summer in the European market.
- February 2021: Nestlé announced its plan to unveil a vegan KitKat chocolate. The new lactose-free bar will be called KitKat V. It will be developed by a team of chocolate experts in the company’s confectionery research and development center in the U.K.
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