Market Size of Lactose Free Butter Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.43 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lactose-free Butter Market Analysis
The global Lactose Free Butter market is projected to grow at a CAGR of 4.43% during the forecast period (2021-2026).
- The gaining popularity of vegan diet and incidences of lactose intolerance have driven the market and continue to do so in thenear future. However, the comparatively high prices of lactose-free butter pose a challenge to the market. The presence of nutritionally equivalent alternatives such as fruit jam and margarine for a lower price affects the consumer behavior and refrains the purchase of lactose-free butter.
- Increased product launches in the market studied is an optimistic development for the market and holds promise to drive the market in future, as most of the manufactures are making developments in the sector.
- Consequently, it is creating an opportunity to capitalize on the consumer preference as the non-dairy or lactose-free butter is safe to consume and contains low amount of saturated fat.
- After, the onset of COVID-19, many countries implied a strict lockdown measures in their respective countries, which contributed to panic purchase of lactose-free butter by the consumer group leading to its increased demand.
