0
2020
Lactose Free Butter Market

Lactose Free Butter Market

by Application (Household and Commercial) and Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail Stores, and Others): Global Opportunity Analysis and Industry Forecast 2019-2026
Update Available On-Demand

Report Code: A06068
Pages: 259
Mar 2020 | 5159 Views
Author(s) : Aniket Kadam , Roshan Deshmukh
Tables: 114
Charts: 68
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The lactose free butter market was valued at $222.9 million in 2018, and is projected to reach $388.4 million by 2026, growing at a CAGR of 7.1% from 2019 to 2026.

The consumption of lactose free butter and dairy foods is not only limited to nutritional needs, but is gaining importance because of the issues related to intolerances or allergies. Some consumers prefer these products as they are healthier for them than regular offerings, while others consume these products to avoid allergies or any other health related issues. Lactose-free butter helps to maintain lactase enzyme content in the body. Lactase is a type of enzyme produced in body to break down lactose in the body. The inability to digest lactose from milk and other dairy products is called lactose intolerance. This intolerance results in gas, bloating, and abdominal pain, when consumed in any form. Some types of food intolerance, including lactose intolerance are treatable. Lactose-free milk is an easy alternative, which helps eliminate many unpleasant symptoms related to lactose intolerance.

Lactose Free Butter Market

The global lactose free butter market is witnessing significant growth, owing to development of the global processed food industry, increase in consumption of lactose free butter and other dairy products by aging population, and growth in urbanization. In addition, rise in prevalence of diabetes, obesity, and other health issues; rise in need for energy with weight management; surge in consumer preference toward sugar free, lactose free, and gluten-free flour are some of the major factors anticipated to drive the demand for lactose free butter and drives the global lactose free butter market growth. However, lack of awareness, regarding the benefits of lactose free dairy products, especially in developing economies; and its high cost compared to other conventional dairy products is anticipated to hamper the growth of the market.

Consumer preference toward natural and organic food is on a constant rise, owing to increase in health consciousness among them. Further, surge in disposable income; improvement in living standard; rise in health expenditure; and large-scale promotion of organic foods, owing to their benefits such as them being chemical free and natural supplement growth of lactose free dairy products. Further, there is an increase in demand for nutritional and quality food due to rise in urbanization and increase in working population. Consumers are demanding addition of natural ingredients in dairy products. Therefore, such factors boost the  lactose free butter market.

All lactose free butter and other dairy products are more expensive than conventional products. They also increase the need of products to meet stricter restrictions; this increases the overall cost of production and ultimately cost of the finished product.

The countries in Asia-Pacific and LAMEA have gone through substantial economic growth over past few years. As consumers are experiencing economic growth, their spending on food has also increased. Moreover, earlier consumers were not aware about lactose allergies and its intolerance, but as the internet penetration is growing and health awareness is also increasing, consumers are getting aware about lactose intolerance and hence, prefer lactose free butter.  

Lactose Free Butter Market
By Application

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Household segment would exhibit the highest CAGR of 7.60% during 2019-2026.

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The lactose free butter market is segmented into application, distribution channel, and region. Depending on the lactose free butter market analysis, application segment is categorized into household and commercial. Among these, the household segment accounted for a higher value share in 2018, owing to rise in demand for lactose free butter and dairy products from household consumers. On the basis of distribution channel, it is divided into supermarkets & hypermarkets, specialty stores, online retail stores, and others. The specialty stores segment accounted for a higher value share throughout the lactose free butter market forecast, owing to increase in sales of lactose free butter from specialty stores, thus increasing the market revenue.

Lactose Free Butter Market
By Distribution Channel

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Online retail stores segment would exhibit the highest CAGR of 11.50% during 2019-2026.

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On the basis of region, the lactose free butter market is studies across North America, Europe, Asia-Pacific, and LAMEA. North America and Europe are known to be the dominant regions in the lactose free butter market. North America has witnessed higher rate of traction for different types of flavored lactose free butter in the dairy industry. Some of the key macroeconomic factors such as rise in internet penetration and surge in per-capita income also play an important role in the growth of the lactose free butter market.

Lactose Free Butter Market
By Region

2026
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 10.10% during 2019-2026.

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However, Asia-Pacific is expected to exhibit a significant growth in the future, owing to rise in demand for different types of flavored lactose. In addition, the region has witnessed considerable surge in the number of millennials, who are the forefront consumers of food. Therefore, rise in millennial population is anticipated to offer remunerative opportunities for the market growth.

Some of the key companies from lactose free butter industry profiled in the report contributes in the lactose free butter market share include The Kraft Heinz Company, The Hain Celestial Group, Inc., Cargill Inc., Corbion Inc., Kerry Group PLC, Ingredion Incorporated, Chr Hasen A/S, Dupont, Kellogg Company, and General Mills, Inc.

Key Benefits for Stakeholders:

  • The report provides an extensive analysis of the current and emerging market trends and opportunities in the lactose free butter market.
  • The report provides detailed qualitative and quantitative analysis of current lactose free butter market trends and future estimations that help evaluate the prevailing market opportunities.
  • A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
  • In-depth analysis and the lactose free butter market size and segmentation assists in determining the prevailing opportunities.
  • An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.

Lactose Free Butter Market Report Highlights

Aspects Details
By Application
  • Household
  • Commercial
By Distribution Channel
  • Supermarkets & Hypermarkets
  • Specialty Stores
  • Online retail stores
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, France, The Netherlands, Germany, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, United Arab Emirates, Rest of LAMEA)
Key Market Players Arla Foods amba (Arla), Conagra Brands, Inc., Green Valley Creamery, Shedd's Country Crock (Upfield), Social Nature, Valio Ltd, Uelzena Ingredients, Challenge Dairy, LACTAID (McNeil Nutritionals, LLC), Morrisons Ltd
 

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Innovation is the key for the growth of the lactose free butter market. Rise in demand for various flavored lactose free butter from consumers makes way for manufacturers to come up with innovations in lactose free food products. This is anticipated to boost the growth of the lactose free butter market.

Manufacturers are focused on displaying the transparency of lactose free ingredients and by providing item information through labelling, as majority of consumers are leaning toward choosing products by reading their labels. Moreover, increase in curiosity of millennials to try innovative food products boosts the growth of the lactose free butter market.

Furthermore, rise in rate of internet penetration around major parts of the world boost manufacturers to initiate several key online marketing programs. These online platforms are one of the easiest ways to create awareness about the specifications and features of organic ingredients used in any food item among target customers. Hence, tapping into such markets is expected to create opportunities for the lactose free butter market expansion.

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FREQUENTLY ASKED QUESTIONS?

A. The size of the Lactose Free Butter Market was $222.9 million in 2018. This was attributed due to increasing incidence of lactose intolerance in consumers across the globe.

A. The Lactose Free Butter Market is projected to reach $388.4 million by 2026. This was attributed due to rise in the awareness for lactose free products among health conscious consumers.

A. Click on the below link to access the sample. (Please paste the link)

A. Lactose Free Butter Market is segmented in two segments which are application and distribution channel.

A. The prevalence of lactose intolerance in the global population and improving global economics, which are triggering consumer preference for premium products such as lactose free dairy products are the Lactose Free Butter Market trends.

A. The key players in Lactose Free Butter Market includes The Kraft Heinz Company, The Hain Celestial Group, Inc., Cargill Inc., Corbion Inc., Kerry Group PLC, Ingredion Incorporated, Chr Hasen A/S, Dupont, Kellogg Company, and General Mills, Inc.

A. The household application segment accounted for a higher value share in 2018, owing to rise in demand for lactose free butter and dairy products from household consumers.

A. North America holds the maximum market share of the Lactose Free Butter Market.

A. The emerging countries such as India and South Africa accounted for $4.9 million and $0.8 million registering a CAGR of 11.3% and 9.1% respectively in 2018.

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