Global market for lactose-free dairy products to reach $17.8 billion by 2027
The prevalence of lactose intolerance in the Latino population will be one of the growth drivers.
The global market for lactose-free dairy products will reach $17.8 billion by 2017, according to a new report from Valley Cottage, N.Y.-based Future Market Insights. The report, titled "Lactose Free Dairy Products Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027)," estimates that the market reached $10.6 billion by the end of 2017. Sales revenue is expected to increase at a compound annual growth rate (CAGR) of 5.3% during the forecast period (2017–2027).
The expected growth can be attributed to a number of drivers, the market research firm said, including: