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The lactose-free butter market share is expected to increase by USD 111.14 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.54%.
This lactose-free butter market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers lactose-free butter market segmentation by application (household and commercial) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The lactose-free butter market report also offers information on several market vendors, including Arla Foods amba, California Dairies Inc., Cargill Inc., Chr Hansen Holding AS, Conagra Brands Inc., Corbion NV, General Mills Inc., Ingredion Inc., International Flavors and Fragrances Inc, Johnson and Johnson, Kellogg Co., Kerry Group Plc, Miyokos Creamery, Morrison Supermarkets Ltd., Redwood Hill Farm, and Creamery Inc., The Hain Celestial Group Inc., Uelzena eG, Upfield B.V, and Valio Ltd among others.
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The growing awareness of lactose-intolerant conditions is notably driving the lactose-free butter market growth, although factors such as limited awareness and high prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lactose-free butter market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Lactose-Free Butter Market Driver
Growing awareness of lactose-intolerant conditions is one of the major drivers impacting the lactose-free butter market growth. The symptoms of lactose intolerance include pain, cramps, abdominal bloating, and diarrhea. Currently, a large part of the global population (nearly 65%-70%) identifies itself as lactose intolerant to varying degrees. The increasing prevalence of lactose intolerance among people across the world has adversely affected the sales of dairy products. The high prevalence of lactose intolerance in countries such as China, Japan, Turkey, and the US, as well as increasing awareness of lactose-intolerant conditions, present huge opportunities for vendors to tap into the huge market potential. For instance, 60%-65% of the population in India was lactose intolerant in 2020. Thus, growing awareness about lactose intolerance and the growing number of people with lactose intolerance will spur the demand for lactose-free butter, which, in turn, will propel the growth of the market focus during the forecast period.
Key Lactose-Free Butter Market Trend
An increasing number of organized retailing outlets worldwide is one of the major trends influencing the lactose-free butter market growth. Organized retailing has grown worldwide with the establishment of convenience stores, supermarkets, hypermarkets, and specialty stores. Fresh and ready-to-consume packaged lactose-free butter varieties are primarily sold by large, organized retailers. Vendors are highly dependent on large, organized retailers for the efficient distribution and marketing of their products. Organized retailing outlets such as convenience stores, supermarkets, and hypermarkets that offer packaged lactose-free butter across the world have made it easier for new entrants in the market in focus to find suitable distribution channels to sell and increase the market visibility of their products. Some of the globally recognized organized retailing chains selling lactose-free butter are Walmart, Meijer, Inc., Carrefour, The Kroger Co., ALDI, Waitrose and Partners, J Sainsbury plc, Future Group, and Morrisons Ltd. Supermarkets are major distribution channel, which makes lactose-free butter and other products easily accessible to consumers. Given the rise in the urban population worldwide, the demand for such supermarkets is also growing.
Key Lactose-Free Butter Market Challenge
Limited awareness and high price is one of the major challenges impeding the lactose-free butter market growth. The price per pound (lb.) of lactose-free butter varies greatly, depending on the brands offering it, and is nearly 1.5-2 times the prices of the same quantity of conventionally processed butter. For instance, the price of lactose-free butter in India is approximately $3.5, while the price of conventional butter is only $0.51. Although the global lactose-free butter market is growing, the awareness of lactose-free butter is very limited among consumers, especially in South America, Southeast Asia, MEA, and Eastern Europe. Therefore, the lactose-free butter market in these regions is highly underdeveloped, with negligible penetration. This is a major concern for market vendors as these regions collectively account for over two-thirds of the global population. Thus, such factors will hinder the growth of the global lactose-free butter market during the forecast period.
This lactose-free butter market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global lactose-free butter market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lactose-free butter market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the lactose-free butter market encompasses successful business strategies deployed by the key vendors. The lactose-free butter market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The lactose-free butter market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the lactose-free butter market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the lactose-free butter market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The growing number of people with lactose intolerance in the region will facilitate the lactose-free butter market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic adversely affected the economies of various countries in North America. Governments of countries such as the US, Canada, and Mexico imposed stringent COVID-19-related restrictions, such as nationwide lockdowns and stay-at-home regulations, which resulted in the temporary closure of various industries, including those manufacturing lactose-free butter.
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The lactose-free butter market share growth in the household segment will be significant during the forecast period. The household was the largest segment of the global lactose-free butter market in 2021, and it will continue to remain the largest segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the lactose-free butter market size and actionable market insights on the post-COVID-19 impact on each segment.
Lactose-Free Butter Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.54% |
Market growth 2022-2026 |
$ 111.14 million |
Market structure |
Fragmented |
YoY growth (%) |
7.45 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, Canada, India, UK, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Arla Foods amba, California Dairies Inc., Cargill Inc., Chr Hansen Holding AS, Conagra Brands Inc., Corbion NV, General Mills Inc., Ingredion Inc., International Flavors and Fragrances Inc, Johnson and Johnson, Kellogg Co., Kerry Group Plc, Miyokos Creamery, Morrison Supermarkets Ltd., Redwood Hill Farm and Creamery Inc., The Hain Celestial Group Inc., Uelzena eG, Upfield B.V, and Valio Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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