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Global Lactose-free Butter Market Size & Share Report, 2021-2028

Lactose-free Butter Market Size, Share & Trends Analysis Report By Product (Spreadable, Non-spreadable), By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028

Report ID: MN17620221  |  Published: April 2021  |  No of Pages: 85
Format: Electronic (PDF)  |  Industry: Food  |  Publisher: Grand View Research

Report Overview

The global lactose-free butter market size was valued at USD 581.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. An increasing number of lactose-intolerant people in developed economies of North America and Europe has resulted in the rising demand for lactose-free dairy products. In developing and developed countries, rising expenditure on purchasing dairy products is mostly estimated to drive the demand for lactose-free butter. It is also expected to offer numerous opportunities for the manufacturers of dairy products during the forecast period. The increasing prevalence of lactose intolerance among the millennial population has been playing a key role in expanding the market scope. Furthermore, age group and income level play an important role in influencing the purchase of lactose-free butter. The increasing population of baby boomers is also estimated to drive the market over the forecast period.

U.S. lactose-free butter market size, by product, 2017 - 2028 (USD Million)

Owing to the rise in health consciousness, the consumer preference for natural and organic food is increasing. Furthermore, an increase in health expenditure, improvement in living standards, surge in disposable income, and large-scale promotion of organic foods as they are chemical-free will boost market growth over the forecast period. Moreover, due to the increasing working population, there is rising demand for quality and nutritional food. Consumers are widely demanding dairy products with natural ingredients. Thus, these factors are expected to boost market growth.

With the outbreak of COVID-19 globally, the supply chain of various sectors has been disrupted. It has also impacted the financial markets. The impaired distribution network and supply chain are some major challenges that the companies are focusing on. Furthermore, due to lockdown, a drop in sales was observed in the market.

Product Insights

Spreadable lactose-free butter held the largest share of over 79.0% in 2020. This butter remains softer even at cold temperatures, and it can spread easily, which gives a significant advantage over non-spreadable butter. Due to its increasing demand, manufacturers are implementing new technologies in their products globally. It consists of vegetable oil and blends of butter. Also, this butter's availability in various options and flavors makes it popular among customers, which is a major reason for segment growth over the forecast period.

Non-spreadable lactose-free butter will register the highest CAGR over the forecast period due to the increasing demand for low-fat butter. It consists of low cholesterol, low fat, and low-calorie butter. Rising demand for low cholesterol and fat to meet the consumers' needs is responsible for segment growth over the assessment period. Hence, this segment is estimated to witness significant growth over the forecast period.

Distribution Channel Insights

The convenience and specialty stores segment captured the largest share of more than 49.0% in 2020 due to the increasing lactose-free butter sales from the convenience and specialty stores. The preference for lactose-free butter is growing among customers due to more sustainability offered by these convenience and specialty stores than other distribution channels. Hence, the segment is projected to witness significant growth during the forecast period.

Global lactose-free butter market share, by distribution channel, 2020 (%)

The online channel is estimated to register the fastest CAGR of 7.6% from 2021 to 2028. Lactose-free butter can be purchased at a low price through an online channel. Such channels can provide various add-on benefits, such as free shipping charges and coupon benefits. In addition to the many online lactose-free butter products, the growing incidence of delivery services and app-based sellers that are significantly popular is expected to drive the segment over the forecast period.

Regional Insights

North America held the largest share of over 40.0% in 2020 due to the high product demand in the U.S. and Canada. In addition, the increasing purchasing power of the consumers in this region drives the market. As North America presents attractive opportunities for the consumer goods sector, the market is projected to witness significant growth over the forecast period. Up to 50 million Americans are lactose intolerant. This has led to rising demand for lactose-free butter in North America.

Asia Pacific is expected to register the fastest CAGR of 7.9% from 2021 to 2028. This is attributed to the increasing demand for lactose-free butter in this region. An increase in disposable income in countries, like China and India, is also driving the segment in this region. The increasing number of millennials, who are forefront consumers of food, is also responsible for the segment growth.

Key Companies & Market Share Insights

The main focus of the companies is on innovating new products to meet the increasing demand for lactose-free butter. However, implementing sustainability has its unique limitations and challenges. New players are entering the market owing to low market entry barriers and higher market potential. The increasing demand for lactose-free butter offers an opportunity for product development in regions of high demand. Moreover, in the modest market, the product offers a scope of expansion to manage the competition. Some prominent players in the global lactose-free butter market include: -

    • The Kraft Heinz Company
    • Challenge Dairy Products, Inc.
    • Green Valley Creamery
    • Agropur Dairy Cooperative
    • Upfield
    • Conagra Brands
    • Ingredion Incorporated
    • Kellogg Company
    • General Mills, Inc.
    • LACTAID (McNeil Nutritionals, LLC)

Lactose-free Butter Market Report Scope

Report Attribute

Details

The market size value in 2021

USD 617.0 million

The revenue forecast in 2028

USD 984.3 million

Growth Rate

CAGR of 6.8% from 2021 to 2028

The base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; France; China; Japan; Brazil; South Africa

Key companies profiled

The Kraft Heinz Company; Challenge Dairy Products, Inc.; Green Valley Creamery; Agropur Dairy Cooperative; Upfield; Conagra Brands; Ingredion Incorporated; Kellogg Company; General Mills, Inc.; LACTAID (McNeil Nutritionals, LLC)

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global lactose-free butter market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)
    • Spreadable
    • Non-spreadable

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
    • Supermarkets & Hypermarkets
    • Convenience & Specialty Stores
    • Online
    • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2028)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
        • France
    • The Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

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