LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global lactose-free cheese market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global lactose-free cheese market is expected to grow at a CAGR of over 8% during the forecast period. Most consumers prefer lactose-free food products due to the perceived health benefits of these products, and since drinking cow's milk can upset the digestive system and cause bloating. The growing demand for lactose-free products, in turn, is encouraging many vendors to make changes to their processing methods and dosages, and focus on lactose-free product formulations.
Manjunath Jagannath, a lead analyst from Technavio, specializing in research on the food sector, says, “Many drivers are contributing to the growth of the global lactose-free cheese market such as the increasing level of lactose intolerance among many being the key factor. New product launches and positive trends like the increasing focus of players on promotional and marketing initiatives will also impact the market's growth positively in the coming years.”
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The top three emerging trends driving the global lactose-free cheese market according to Technavio research analysts are:
- Packaging innovations
- Increase in promotional and marketing initiatives
- Rapidly increasing private label offerings
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Packaging plays a major role in retaining the flavor, taste, quality, color, texture, and shelf life of lactose-free cheese. Many major companies are collaborating with packaging manufacturers to develop advanced packaging technology for their products and to increase their consumer bases.
“The packaging of any product is a brand extension of the product and is considered to play a vital role in consumers' buying decisions. Packaging plays an instrumental role in the sale of lactose-free products like lactose-free cheese. The retention power of a package in terms of vitamin content, color, product quality, texture, taste, and shelf life is important,” according to Manjunath.
Increase in promotional and marketing initiatives
Intense promotion and marketing characterize the global lactose-free cheese market. Manufacturers spend a substantial amount on promotional campaigns that target food product manufacturers in addition to individual consumers. Besides, vendors and government bodies also help in the promotion of these products.
Lactose-free cheese vendors aim to build a loyal customer base for their products by advertising the health benefits of lactose-free cheese as an ideal alternative for natural cheese. Vendors specifically target food and beverage manufacturers to highlight the advantages of consuming lactose-free food products.
Rapidly increasing private label offerings
Several major international and small local players operate in the global lactose-free cheese market. In addition, the competition has increased in the market because of private label brands, which have become popular and are competing with the leading brands. In some regions, many private label lactose-free cheese manufacturers market and sell their products by claiming that their products contain the same formulations as the branded products.
Hence, they are undercutting the branded labels' retail price and reducing the market share of major brands. Furthermore, in retail outlets, private label lactose-free cheese products primarily command the niche shelf space for both refrigerated and aseptic versions of the products.
The key vendors are as follows:
- Arla Foods
- McNeil Nutritionals
- OMIRA Oberland-Milchverwertung
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