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Lactose-Free Infant Formula Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The lactose-free infant formula market size is expected to see rapid growth in the next few years. It will grow to $28.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.” - The Business Research Company
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The Lactose-Free Infant Formula Global Market is projected to expand from a valuation of $16.59 billion in 2023 to $18.53 billion in 2024, growing at a compound annual growth rate CAGR of 11.7%. This significant growth can be attributed to multiple facilitating factors such as medical advice and prescriptions, a rise in cases of cow's milk protein allergy CMPA, an increased occurrence of lactose intolerance in infants, heightened parental concerns for digestive health, and an augmented demand for alternative dietary solutions.
So, what do we predict for the future growth rate and market size of Lactose-Free Infant Formula?
The lactose-free infant formula market size seems to be on track with rapid growth in the next few years. It's set to expand to an impressive $28.35 billion by 2028, boasting a CAGR of 11.2%. Prominent reasons for this move in the forecast period include a mounting global awareness of lactose intolerance, market expansion in emerging economies, a rising adoption of specialty formulas, and strides made in infant nutrition research. The benefits of increased healthcare accessibility also cannot be overlooked. Trends anticipated to dominate the forecast period encompass the development of hydrolyzed protein formulas, the integration of probiotics for optimal gut health, a surge in the formulation of plant-based and non-dairy alternatives, an emphasis on organic and clean label formulas, along with the supplementation of DHA and ARA for development.
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Now, what are the key drivers leading the Lactose-Free Infant Formula Market's growth?
A key catalyst propelling the lactose-free infant formula market's tremendous growth is the rising incidence of lactose intolerance. When individuals are unable to fully digest the lactose present in milk, they experience various health issues such as bloating, gas, and diarrhea. Infants with lactose intolerance are compelled to consume lactose-free infant formula to meet their nutrition requirements effectively. For instance, Encyclopædia Britannica Inc., a UK-based publishing company, reported in July 2022, that nearly 65% of the adult human population in 2022 were affected by lactose intolerance. Hence, the growing prevalence of lactose intolerance among infants is a major driver fueling the lactose-free infant formula market.
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So, who are the key players making a significant impact on the Lactose-Free Infant Formula Market?
Major companies operating in the lactose-free infant formula market include Nestle S.A, Valio Ltd., Danone S.A, Abbott Laboratories, Silverson Machines Holdings Ltd., Gimme the Good Stuff, Mead Johnson & Company LLC, Gerber Product Co., HiPP International, Vermont Organics LLC, Perrigo Company plc, Earth's Best Inc., Nutricia Ltd., Dana Dairy Group, Nurture Inc., Kraft Heinz Company, Hain Celestial Group Inc., Honest Company Inc., Nature's One Inc., Ausnutria Dairy Corporation Ltd., Synutra International Inc., Beingmate Baby & Child Food Co. Ltd., Yili Industrial Group Company Limited, Feihe International Inc., Biostime International Holdings Limited, Wissun International Group Co. Ltd., Otsuka Holdings Co. Ltd., Morinaga Milk Industry Co. Ltd., Yakult Honsha Co. Ltd., and FrieslandCampina NV.
What are the emerging trends in the lactose-free infant formula sector?
Major companies are focusing on innovative products, such as plant-based infant formula to keep abreast of parents' increasing preferences for more plant-based food options for their babies. Plant-based infant formula is made from non-animal sources, including plants, grains, and seeds. For instance, France-based food company, Danone S.A., launched a new baby formula called Dairy & Plants Blend in July 2022. This is a mix of dairy and plant-based ingredients, offering parents a nutritionally complete and easily digestible plant-based option for feeding their infants. It contains 60% plant protein and 40% dairy protein and is available in two stages.
What is the detailed segmentation of the Lactose-Free Infant Formula Market?
The lactose-free infant formula market covered in this report is segmented –
1 By Type: Milk Infant Formula, Non-Milk Infant Formula
2 By Indications: Starting Formula, Specialized Formula, Follow-On Formula
3 By Application: Premature, Babies With galactosemia, Infants With Cows Milk Protein Allergies, Other Applications
4 By Distribution Channel: Supermarkets/Hypermarkets, Specialist Stores, Online Retail Stores, Other Distribution Channels
Where does the Lactose-Free Infant Formula Market stand on a regional level?
In 2023, Western Europe was the largest region in the lactose-free infant formula market. The regions covered in this report span Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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