Global Lactose-Free Butter Market Analysis and Forecast, 2019-2028 – In-depth Market Report by RationalStat

Global Lactose-Free Butter Market Analysis and Forecast, 2019-2028 – In-depth Market Report by RationalStat

The report, titled "Lactose-Free butter market" analyzes the market in both regional and global terms by type, category and application, distribution channel and the region. A thorough report offers comprehensive historical and projected market size, along with a forecast analysis. The report provides breakdown of market shares, the production capacity by the most prominent players, overall consumption of lactose-free milk by regions, competition overview and strategic imperatives and annual sales figures. expansion avenues production overview, forecast analysis and assessment of competition for the key players identified by this Lactose-Free Butter market study.

Market overview and dynamics: The growing need for more nutritious alternatives as well as the rising number of lactose-intolerant individuals are driving demand for lactose-free butter

The global market for lactose-free butter is projected to grow by around 7.5% during the 2022-2028 forecast period. The growing demand for better alternatives and the increasing rate of lactose intolerance in people is expected to increase the demand for lactose-free butter around the globe.

The market for lactose-free butter is expected to witness significant growth over the coming six years. The rising incidence of lactose intolerance among millennials is playing a significant part in expanding the market. Additionally, the age range and income levels are key factors in determining the purchase of lactose-free butter. The rising number that is baby boomers is expected to boost the demand during the forecast time.

North America is expected to grow significantly in the global lactose-free butter market over the forecast time frame; the growing purchasing power of people living in this region fuels the market in the region. Europe provides a number of exciting opportunities for the sector of consumer goods that will provide an excellent platform for the development of the lactose-free butter market. Furthermore, the majority of people in Europe are lactose intolerant which has fueled the demand and use of lactose-free butter in all European countries. Additionally, Asia Pacific is expected to grow significantly over the next few years mostly due to the rising awareness and the use of international brands within the region.Segmental Analysis

·         Based on type, the unsalted butter segment held a significant market share on the back of health benefits, freshness in taste, and awareness among people to consume less salt.

·         On the basis of the distribution channel, the e-commerce distribution channel followed by specialty stores is expected to grow at a faster pace due to the ease of availability and discounts offered on the platforms.

·         Based on region, North America is dominating the global lactose-free butter market. The presence of key leading players coupled with the increased awareness and significant presence of lactose-intolerant people in the region are pivotal growth factors for the regional market growth.

Competition Analysis:

The global lactose-free butter market is fragmented in nature with the presence of various players operating in the market. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Partnerships and collaborations, the introduction of new variants, and the development of existing products are some of the strategies followed by industry players. Some of the key developments in the global lactose-free butter market include, 

·         In May 2020, Valio announced its development of solutions to reduce sugar in bakery goods, dairy products, chocolate, and ice cream.

·         In October 2019, Upfield launched a new Flora Plant™ in Austria with which it joined their plant-based food movement. Flora PlantTM is a dairy-free and Lactose-free butter that tastes and looks like dairy butter but is prepared from plant-based oils derived from sunflower, rapeseed, and responsibly harvested palm fruit seeds.

Some of the prominent players that contribute significantly to the global lactose-free butter market include Valio Ltd., Agropur Dairy Cooperative (Natrel), Kraft Heinz Company, Kellogg Company, Cargill Inc., Morrisons Ltd., California Dairies, Inc., Johnson & Johnson Services, Inc., Arla Foods amba, Upfield, Lactalis Canada, LACTAID (McNeil Nutritionals, LLC), Conagra Brands, Inc., Green Valley Creamery, Challenge Dairy Products, Inc., among others.

RationalStat has segmented the global lactose-free butter market on the basis of category, type, application, distribution channel, and region.

·         By Category

o   Conventional

o   Organic

·         By Type

o   Salted Butter

o   Unsalted Butter

·         By Application

o   Household

o   Commercial

·         By Distribution Channel

o   Supermarkets/Hypermarkets

o   Retail Stores

o   Specialty Stores

o   E-commerce

·         By Region

o   North America

§  US

§  Canada

o   Latin America

§  Brazil

§  Mexico

§  Rest of Latin America

o   Western Europe

§  Germany

§  UK

§  France

§  Spain

§  Italy

§  Benelux

§  Nordic

§  Rest of Western Europe

o   Eastern Europe

§  Russia

§  Poland

§  Rest of Eastern Europe

o   Asia Pacific

§  China

§  Japan

§  India

§  South Korea

§  Australia

§  ASEAN (Indonesia, Vietnam, Malaysia, etc.)

§  Rest of Asia Pacific

o   Middle East & Africa

§  GCC

§  South Africa

§  Turkey

§  Rest of the Middle East & Africa

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