Published Date : 17 Sep 19 | Views: 70 | Industry : Food & Beverages
Online sales channel to accelerate the growth of global Lactose Free Dairy Product market
The global Lactose Free Dairy Products market is mainly categorized into three segments such as by type, by sales channel, and by nature. By type, the market is further segmented into milk powder, cheese and yogurt, milk, and butter. Because of the high valuation, yogurt segment is expected to take a lead in the global market. Conventional and organic are the segments of the market by nature. Conventional Lactose Free Dairy Products are projected to grab a prominent share in the market across the globe.
By sales channel, the global lactose free dairy products market is segmented into departmental stores, hypermarket/supermarket, online, and specialty stores. Online segment could emerge as a popular segment in the global Lactose Free Dairy Products market due to internet penetration and increasing online shopping.
North America is likely to hold a prominent share in the global market
North America is the region with a large number of lactose intolerant people this could be one of the reasons to attract demand for Lactose Free Dairy Products in the upcoming years. Apart from North America, Western Europe is also anticipated to witness heavy growth in the global Lactose Free Dairy Products market. Western Europe manufactures a large quantity of Lactose Free Dairy Products. Rising incidence of lactose intolerance in China and Japan and awareness about health benefits associated with these products are supporting Asia Pacific to collect a substantial share in the global market.
Manufacturers are predicted to add private labeled products to enlarge their product portfolio
Some of the leading manufacturers operating in the global Lactose Free Dairy Products market are Nestlé S.A., Green Valley Creamery, The Danone Company Inc., Valio International, Cabot Creamery Cooperative Inc., DSM N.V., Saputo Inc., Arla Foods, Alpro Ltd., and McNeil Nutritionals LLC. Companies are foreseen to add different private labeled product under their portfolio in the years to come. Manufacturers are expected to enter into partnerships and agreements with local retailers to maintain a strong position in the global market.
Limitations of plant-based dairy products to supplement global Lactose Free Dairy Products market growth
Dairy products are highly consumed by people around the world. Nevertheless, alternative dairy products like plant-based products are less popular as compared to normal dairy products. Additionally, limitations in the usage of plant-based dairy products over culinary cooking is another factor for augmenting the demand for Lactose Free Dairy Products in the worldwide market. Per capita expenditure on dairy products in developing as well as developed nations to boost the growth of the global Lactose Free Dairy Products market.
Reasons behind the high popularity of Lactose Free Dairy Products are enhanced bio-availability and easy digestibility. However, strong competition from dairy alternatives such as nuts and cereals could decrease market growth globally. Increasing vegan population is also responsible for hampering the growth of the global Lactose Free Dairy Products market.