According to a new report published by Allied Market Research titled, "Global Lactose Free Butter Market by Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global lactose free butter market size was valued at $ 222.9 million in 2018, and is projected to reach $388.4 million by 2026, growing at a CAGR of 7.1% from 2019 to 2026. In 2018, North America accounted for nearly 40.7% share of the lactose free butter market.

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

Thus, increase in willingness of customers to try different types of natural tastes in food & beverages is expected to fuel the demand for lactose free butter market. The food industry has been evolving in terms of innovations and demands. Manufacturers are focusing on key innovations that cater to the requirements of their target consumers. Increase in awareness toward health and wellness has been witnessed among people residing in developed as well as the developing countries. This has resulted in increased demand for various types of special lactose free butter made using dairy alternative products. Thus, lactose free butter market is gaining increased traction among food & beverage manufacturers, which significantly drives the lactose free butter market growth.

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

The market has witnessed higher rate of penetration in North America and Europe. However, low availability has been observed for this product in some major parts of Asia-Pacific and LAMEA, which is attributable to low performing macro-economic factors such as aggressive marketing strategies by manufacturers, and slower economic growths in the regions. Thus, lower penetration of such products limits the growth of the lactose free butter market.

There has been an increase in number of users on various social media sites, with rise in internet penetration. Taking this into consideration, most of the key market players strategize on promoting their products on these social media platforms. Thus, through social media marketing strategy, the lactose free butter market sights critical opportunities to grow.

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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