LONDON--(BUSINESS WIRE)--According to the latest research study released by Technavio, the global lactose-free food market is expected to reach over USD 10 billion in revenue by 2020.
This research report titled ‘Global Lactose-free Food Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments, including lactose-free dairy, lactose-free ice cream, and lactose-free milk formula.
Request sample report: http://bit.ly/1SwJIY6
“Lactose intolerance is the inability of the body to digest significant amounts of lactose present in milk. The demand for lactose-free food products is driven by the increase in incidences of food allergies and intolerances. It has been observed that lactose intolerance is seen in approximately 90% of adults in East Asia,” said Vijay Sarathi, one of Technavio’s lead analysts for food and beverage research.
“Also, lactose-free food products are highly digestible, which enhances its bio-availability. This is likely to contribute significantly to the market growth of lactose-free food products. In the US and Europe, the sales of lactose-free products have doubled due to the increase in self-diagnosed cases of lactose intolerance in 2014. The sales of lactose-free products in the US are expected to double during the 2016-2020 period and reach revenues worth USD 700 million,” added Vijay.
North America and Europe are the largest markets for lactose-free food. They accounted for more than 50% of the total sales in 2014. Increased awareness and availability of food intolerance products are driving this market. Arla Foods’ Lactofree, Valio's Zero Lactase, and McNeil Nutritionals's LACTAID are some products by large players in the market.
Segmentation of global lactose-free food market by type 2015
- Lactose-free dairy 74.92%
- Lactose-free milk formula 8.15%
- Lactose-free ice cream 16.93%
Global lactose-free food market by lactose-free dairy: largest segment
The global lactose-free food market by lactose-free dairy was valued at USD 4.69 billion in 2015. This segment will grow at a steady pace during the forecast period being driven by growing lactose intolerance among consumers. In the US and Europe, the sales of lactose-free products have doubled due to the increase in self-diagnosed cases of lactose intolerance in 2014. The market has significant growth opportunities in Asia and Latin America due to the prevalence of lactose intolerance among individuals and the rise in dairy consumption. This segment presents a strong growth potential for manufacturers to drive dairy consumption through lactose-free offerings.
Global lactose-free food market by lactose-free milk formula: second largest segment
The global lactose-free food market by lactose-free milk formula was valued at USD 1.06 billion in 2015. As some infants are allergic to lactose, manufacturers have formulated lactose-free milk to leverage the demand by replacing lactose sugar by other sugars such as sucrose and corn syrup. However, these lactose-free formulas are more expensive than regular milk formulas, posing a concern for this segment.
Global lactose-free food market for lactose-free ice cream
The global lactose-free food market for lactose-free ice cream was valued at USD 510 million in 2015. Manufacturers are formulating lactose-free ice cream products to tap this segment. Technavio analysts predict many new innovations to take place in this segment over the forecast period.
Browse related reports:
- Global Dairy Alternative Drinks Market 2015-2019
- Global Food Intolerance Products Market 2015-2019
- Global Pea Protein Market 2016-2020
- Global Organic Dairy Products Market 2015-2019
Purchase any three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
