According to a new report, published by KBV research, The Global Lactose-Free Dairy Market size is expected to reach $18.4 billion by 2028, rising at a market growth of 8.1% CAGR during the forecast period.
The Solid segment is showcasing a CAGR of 8.3% during (2022 - 2028). This is attributable to the high consumption of lactose free cheese and butter as a substitute to regular cheese. In addition, the benefits of ingredients such as lactase enzyme, sea salt & pasteurized cultured milk present in lactose free cheese are also leading to market growth for lactose free dairy market in the coming years.
The Milk segment acquired maximum revenue share in the Global Lactose-Free Dairy Market by Type in 2021 thereby, achieving a market value of $6.6 billion by 2028. This is because milk is the most widely consumed type of lactose-free dairy in the world. Protein, phosphorus, calcium, riboflavin, vitamin B12, and vitamin D are all abundant in lactose-free milk.
The Convenience Stores segment has shown the growth rate of 8.6% during (2022 - 2028). Since these stores offer a numerous day to day products and are more accessible to the customers, the demand for lactose-free dairy product would surge from this distribution channel. Along with that, the local presence of various convenience stores is expanding their reach and sales.
The Europe market dominated the Global Lactose-Free Dairy Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6.3 billion by 2028. The North America market is exhibiting a CAGR of 7.6% during (2022 - 2028). Additionally, The Asia Pacific market would showcase highest CAGR of 8.6% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/lactose-free-dairy-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Dairy Farmers of Americas, Inc., Danone, S.A. (Sofina Group), General Mills, Inc., Lifeway Foods, Inc., Nestle S.A., Saputo, Inc., The Coca-Cola Company, Organic Valley, Johnson & Johnson, and Prairie Farms Dairy, Inc.
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