Portland, OR, Aug. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global lactose free dairy market garnered $11.45 billion in 2021, and is estimated to generate $24.36 billion by 2031, manifesting a CAGR of 8.0% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $11.45 billion |
| Market Size in 2031 | $24.36 billion |
| CAGR | 8.0% |
| No. of Pages in Report | 300 |
| Segments covered | Type, Form, Distribution Channel, and Region. |
| Drivers | Development of the global processed food industry |
| Rise in consumption of lactose-free dairy and other dairy products by an aging population | |
| Growth in urbanization | |
| Increase in prevalence of diabetes, obesity, and other health issues | |
| Rise in need for energy with weight management | |
| Surge in consumer preference toward sugar-free, lactose-free, and gluten-free flour | |
| Opportunities | Innovation in manufacturing techniques of lactose-free dairy products |
| Restraints | Lack of awareness regarding the benefits of lactose-free dairy products, especially in developing economies |
| High cost compared to other conventional dairy products |
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Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global lactose free dairy market, owing to the implementation of the global lockdown which resulted in the temporary closure of manufacturing facilities for lactose-free dairy products, thereby affecting the domestic as well as international production of lactose-free dairy products.
- Manufacturers faced several challenges due to supply chain disruptions. The rise in transportation cost resulted in regular delays in product distribution across the world.
- In addition, shortage of labor force and unavailability of raw materials were major challenges to carry out production facilities in a full sway.
- Fluctuations in prices due to low availability of milk in the market impacted the overall price of the finished goods. Also, the quality of raw materials reduced as farmers tried to increase the product volume to meet the demand from the dairy companies.
The research provides detailed segmentation of the global lactose free dairy market based on type, form, distribution channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the milk segment held the highest share in 2021, accounting for nearly three-fifths of the global lactose free dairy market, and is expected to continue its leadership status during the forecast period. However, the yogurt segment is expected to register the highest CAGR of 9.5% from 2022 to 2031.
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Based on form, the liquid segment accounted for the highest share in 2021, contributing to more than half of the global lactose free dairy market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the powder segment is expected to manifest the highest CAGR of 9.4% from 2022 to 2031.
Based on distribution channel, the hypermarkets/supermarkets segment accounted for the highest share in 2021, holding nearly two-fifths of the global market, and is expected to continue its leadership status during the forecast period. However, the online channel segment is estimated to grow at the highest CAGR of 9.8% during the forecast period.
Based on region, Europe held the largest share in 2021, contributing to more than one-third of the total market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 9.6% during the forecast period. The research also analyzes regions including North America and LAMEA.
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Leading market players of the global lactose free dairy market analyzed in the research include Arla Foods AMBA, Danone S.A., General Mills, Inc., Gujrat Cooperative Milk Marketing Federation (AMUL), Johnson & Johnson Services, Inc., Lifeway Foods, Inc., Nestle S.A., Organic Valley, Saputo, Inc., and The Kroger Company.
The report provides a detailed analysis of these key players of the lactose free dairy market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
