Lactose Free Butter Market

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, June 13, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global lactose free butter market generated $222.9 million in 2018, and is estimated to reach $388.4 million by 2026, portraying a CAGR of 7.1% from 2019 to 2026.The report offers an extensive analysis of changing market dynamics, top winning strategies, business performance, top impacting factors, and competitive scenario.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/6433

Increase in lactose intolerance across the globe and rise in demand for lactose free dairy products drive the growth of the global lactose free butter market. North America contributed the highest share in 2019 and will maintain its dominance throughout the forecast period. The production activity has been slowed down and carried out with minimum number of workers due to the government guidelines amid lockdown and post-lockdown.

The report offers a detailed segmentation of the global lactose free butter market based on application, distribution channel, and region.

Based on application, the household segment contributed to the largest share in 2019, accounting for more than four-fifths of the total share and is estimated to maintain its dominant position during the forecast period. However, the same segment is expected to register the highest CAGR of 7.6% from 2019 to 2026.

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/6433

Based on distribution channel, the specialty stores segment accounted for the largest share in 2019, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the online retail stores segment is estimated to portray the highest CAGR of 11.5% during the forecast period.

Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 10.1% from 2019 to 2026.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.alliedmarketresearch.com/checkout-final/f8c0d99076953fd019c8baf63f6c265c

Key Findings of the Study:

Depending on lactose free butter market trends, the household segment garnered 82.0% of the lactose free butter market share in 2018 and is expected to grow at a CAGR of 7.6% from 2019 to 2026. 

The commercial segment was valued at $39.9 million and is expected to reach $59.3 million by 2026, registering a CAGR of 5.0 %. 

In 2018, by distribution channel, the specialty stores segment accounted for 50.3% share of the lactose free butter market, and is expected to grow at the CAGR of 6.3%. 

The online retail stores segment was valued at $7.8million, and is expected to reach $14.6 million by 2026, registering the highest CAGR of 11.5%.

Region wise, North America accounted for a prominent market share in 2018, and is anticipated to grow at a CAGR of 5.9% throughout the forecast period.

The key players operating in the global lactose free butter industry include The Kraft Heinz Company, The Hain Celestial Group, Inc., Cargill Inc., Corbion Inc., Kerry Group PLC, Ingredion Incorporated, Chr Hasen A/S, Dupont, Kellogg Company, and General Mills, Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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