Lactose Free Food Market SWOT Analysis by Business Economy With Innovative Growth
Lactose intolerance is a problem in adults unable to digest foods consisting of lactose. Lactose free foods contain dairy alternatives such as almond milk and others which can be found at supermarkets. High sales of these foods are an indicator of its bright potential. The global lactose free food market report by Market Research Future (MRFR) comprises drivers, trends, and opportunities for the period of 2018 to 2023 (forecast period).
The global lactose free food industry is expected to display a stellar growth rate during the forecast period owing to a rise in lactose intolerance cases. Awareness of these foods and its consumption due to lifestyle changes can drive market growth. Availability of these products at neighborhood stores and retail chain outlets is an indicator of the reach of the market. Social media campaigns are also likely to influence consumers due to the consumption of news from smartphones and portable devices.
Introduction of lactose free ice creams and infant food are trends which can encourage market growth. The large birth rates globally can influence market demand greatly. For instance, Brayers has introduced two new flavors of ice-cream, namely vanilla-free icecream and chocolate-free icecream.
The market can face a challenge in the form of these products being expensive to customers in developing economies.
The global lactose free foods industry is segmented into type and source.
By type, it is segmented into desserts, fats, milk, bread, soups & sauces, and others. The milk segment is expected to capture a major share of the global lactose free foods market during the forecast period. However, the bread segment is can expand at a high pace in the near future.
By source, the market is segmented into almond, soy, coconut, rice, and hemp milk. The soy segment is anticipated to hold a large market share in the global lactose free foods market. This can be credited to soy which is protein-rich and calcium. Low price of soy milk compared to its counterparts can drive its growth in the coming years. However, the almond milk segment is projected to expand at a high pace during the forecast period.
The global lactose free foods market is segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Europe accounted for 50% share of the global lactose free foods market in 2018. It can dominate the global market till the end of the forecast period owing to cases of lactose intolerance among consumers. Rise of veganism among the public and demand of dairy-free foods can influence the market presence greatly in the region. Germany is one of the biggest contributors of the region.
North America accounted for 30% lactose free foods market share in 2018. Concerns over animals and environments are likely to spike the production of lactose-free foods in the region. Clean labeling trends and high demand for organic...
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