PUBLISHER: The Business Research Company | PRODUCT CODE: 1477070
PUBLISHER: The Business Research Company | PRODUCT CODE: 1477070
Lactose-free food refers to food products that do not contain lactose, a type of sugar found in milk and dairy products. Lactose-free foods are specifically formulated or processed to remove lactose or to substitute it with lactase enzyme, making them suitable for individuals with lactose intolerance to consume without experiencing discomfort. These foods may include dairy alternatives made from soy, almond, coconut or other plant-based sources, as well as lactose free versions of traditional dairy products like milk, cheese, yogurt and ice cream.
The lactose free food market consists of sales of lactose free food by entities (organizations, partnerships and sole proprietors) that produce and sell lactose free food items.
The global lactose free food market was valued at $10,578.0 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 7.0%.
Rising Consumption Of Healthy Products
The rising consumption of healthy products supported the growth of the lactose free food market during the historic period. In recent years, there has been a significant shift in consumer preferences toward healthier and more natural food choices. Consumers are increasingly looking for products that offer functional benefits, such as improved gut health, immunity and overall well-being. Lactose-free food products cater to individuals with lactose intolerance, offering them alternatives that are easier to digest and less likely to cause gastrointestinal discomfort. According to a study published by the International Food Information Council in 2020, a US-based non-profit organization for health and dietary patterns, 43% of Americans reported following a specific diet or eating pattern, which was an increase from 38% in 2019. This trend aligns with the growing use of mobile health monitoring devices or apps, with nearly 1 in 5 Americans using such tools to track their calorie intake. The study also found a shift towards plant-based diets, with 41% of the surveyed individuals starting to consume protein from plant sources and plant-based meat and dairy alternatives. Therefore, the rising consumption of healthy products drove the growth of the lactose free food market.
Strategic Partnerships And Collaborations To Drive Innovation In The Market
Companies in the lactose free food market are undertaking partnerships and collaborations to strengthen their position in the market. For example, in August 2022, ADM, a US-based global leader in sustainable human and animal nutrition and New Culture, a pioneering animal-free dairy company, announced a strategic partnership to accelerate the development and commercialization of alternative dairy products. This collaboration aims to meet the fast-growing consumer interest in animal-free dairy products and to enable a more sustainable food future. The partnership will involve joint product development, taking advantage of New Culture's innovations in novel ingredients and animal-free dairy products. Additionally in January 2022, Daiya Foods, a Canada-based dairy-alternative food company, partnered with Hyundai Green Food, a South Korea-based leading food distributor and catering company, to introduce 15 dairy-free foods to retail and foodservice partners in South Korea. The partnership aimed to address the increasing consumer demand for plant-based foods. This strategic move was aligned with Daiya Foods' commitment to providing delicious plant-based products and expanding its presence in the South Korean market.
The global lactose free food market is highly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 50.8% of the total market in 2022.
Lactose Free Food Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global lactose free food market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for lactose free food? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The lactose free food market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider lactose free food market; and compares it with other markets.