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.
·
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
For more information about this report visit https://store.rationalstat.com/store/global-lactose-free-butter-market/
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