Published Date: 2019-07-09 | Pages: Ongoing | Tables: Ongoing | Report ID: 7301
Industry: Food & Beverages
The global lactose-free dairy products market is expected to grow at a healthy CAGR during the forecast period. According to market experts, lactose-free dairy products are anticipated to become more mainstream and show an increase in market penetration due to rising consumer awareness. Product innovation could be key for players, especially individual dairy makers. On the whole, lactose-free dairy products are foreseen to make a highly profitable and interesting market in the years ahead.
Players are predicted to acquire companies to diversify their product portfolio and expand their geographical presence in the global lactose-free dairy products market. In April 2019, Saputo, a Canadian fluid milk company, announced the acquisition of the specialty cheese business of Australian food company Lion Dairy & Drinks. In the same month, the company completed the acquisition of UK dairy company Dairy Crest.
High Prevalence of Lactose Intolerance to Increase Demand
Demand for lactose-free dairy products could be more in developed countries with high number of health-conscious people. Increasing prevalence of lactose intolerance is an obvious factor predicted to raise strong demand in the global lactose-free dairy products market. Launch of new and affordable products is prophesied to attract a high number of consumers in future. Low preference for alternative dairy products such as plant-based due to differences in taste and other factors is anticipated to bode well for the global market. Growth in urban population and improvement in global economics could be other factors helping the global market to gain growth.
Manufacturers to Focus on Reducing Carbon Footprint
The global lactose-free dairy products market witnesses the presence of prominent players such as Green Valley Creamery, Nestlé S.A., McNeil Nutritionals LLC, The Danone Company Inc., Valio International, Alpro Ltd., Saputo Inc., Arla Foods, Cabot Creamery Cooperative Inc., and DSM N.V. Players are foreseen to enter into collaborations and agreements with domestic retailers to achieve a position of strength in the global market. They are also expected to concentrate on adding private labels products to their portfolio in the near future.
In May 2019, Finland-based dairy business Valio joined hands with Gasum, a Finnish gas industry company, with the intent of producing energy from farm manure to reduce carbon footprint. In March 2019, Arla Foods, a Denmark-based producer of dairy products, announced its net zero carbon dairy target that is aimed to be achieved by 2050.
● Milk Powder
● Cheese and Yogurt
By Sales Channel
● Departmental Stores
● Specialty Stores
Among type segments, cheese and yogurt are forecast to gain a higher market valuation in the coming years. Considering their competitive price point, conventional lactose-free dairy products are expected to gain a significant share of the global market. Among sales channels, online is projected to take the lead in terms of value due to the increase in online shopping and growing use of the internet.
North America is predicted to show substantial growth in the global lactose-free dairy products market because of the presence of a high number of people with lactose intolerance. Western Europe could be another important region that produces lactose-free dairy products in large quantities. Asia Pacific is foretold to show decent growth potential due to high incidence of lactose intolerance in Japan and China and increasing awareness about lactose-free dairy products and their health benefits.
The report includes deep pricing analysis of the global lactose-free dairy products market. The pricing analysis section answers important questions such as those related to price changes, competitor prices, and current pricing scenarios. The critical information and findings presented in this section allow players to identify the right timing and the right level to maximize their price margins. Furthermore, it helps players to increase their sales potential, refine their cost management, and plan out effective pricing strategies.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
Food and beverages sector is considered to be one of the fastest-growing one. Growth of its various industries, right from processing, packaging, and labelling amongst others, have witnessed unbelievable transformation over the years. Players in the food and beverages industry are constantly catering to the changing lifestyle needs that are at times characterized by healthy eating habits or higher purchasing power. The food and beverages industry is extremely dynamic and hence requires a constant watch.
Our researchers have created a repository of thoroughly-researched reports that are aimed at offering the readers a detailed outlook of the industry. Analysts have focused on issues such as food security, evolving demographics, and changing dietary habits. Packaging and innovation therein, along with emerging trends such as organic food items have been discussed through these publications.
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