Lactose-Free Infant Formula Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
The global lactose-free infant formula market size is expected to reach USD 24.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.6% over the forecast period. Growing population of lactose intolerant newborns at the global level is a key factor driving the market. Increasing working women population is also significantly affecting the market growth. Companies are investing on research and development to increase their focus on lactose-Free Infant Formula product offerings. For instance, Valio Oy has introduced more than 100 lactose free products in 50 countries. In 2016, the company invested around USD 28.0 million on new product development in order to provide high quality assurance to the customers. The organic category held the largest market share in 2018. It is expected to emerge as the fastest growing product segment with a CAGR of 10.7% from 2019 to 2025. The segment growth is attributed to rising demand for premium products in the market. Increasing awareness about the side effects of chemically synthesized products is also driving the consumers to purchase organic products. The conventional category is anticipated to witness significant growth due to its cost effectiveness and availability of the product in the market. The product witnesses