Gluten Free Products Market Size predicts favorable growth and forecast.
Global Gluten Free Food Market: Overview
The gluten free food market has risen from
strength to strength riding on the back of the soaring popularity of the food
type to combat gluten sensitivity in worldwide population. World over, the
proliferating demand for gluten free foods among people with celiac diseases
has provided a firm base for the market to evolve. The various digestive
benefits gluten free food possesses, along with the beneficial effect on
intestinal health, has made the food popular in treating a range of metabolic
disorders in worldwide population. The rising preference of gluten free food
has in recent years created new revenue streams for food and beverage
manufacturers. Several food producers have made a foray into the market with
unique positioning strategies to reap the gains.
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A growing number of players are also harping on multiple selling
channels thereby expanding the retail overreach of gluten free foods. This has
substantially increased the availability of products across groceries,
supermarkets, and other points of sale. Recent innovations brought in the taste
and flavor of gluten free food has added to its popularity among
weight-conscious populations. The attractive and sustained demand for gluten
free bakery products is also contributing to the global market revenues.
Bustling with opportunities, the global gluten free food is
projected to rise at a promising CAGR of 7.7% during the forecast period of
2015–2021. The market stood at US$2.84 billion in 2014 and the opportunities is
projected to surge to touch a valuation of US$4.8 billion by the end of the
forecast period.
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Gluten-free Bakery Products to witness
Attractively Rising Demand through 2021
Based on product type, the market is segmented into bakery
products, baby food, pasta, and ready-to-eat meals. Of these, the bakery
segment is projected to rise at an attractive CAGR of 8.5% over the assessment
period. The growth is propelled by the extensive demand for various types of
bakery products and the easy availability of gluten free options in retain
stores. Meanwhile, the rising number of diabetic population who show an
inclination toward the consumption of bakery products is also catalyzing the
growth of the overall market. The expanding retail footprint for the sale
of gluten free bakery products, especially in developed nations, is also
providing a sustained impetus to the segment.
The various regional segments are North America, Europe, Latin
America, Asia Pacific, and the Middle East and Africa (MEA). Of these, North
America accounted for a prominent share amounting to 23.2% share in the global
market in 2015. The regional market will continue gaining shares over the
forecast period, rising at a robust CAGR of 11.4% during 2015–2021. The growth
of the regional market is attributed to the rapidly rising demand for gluten
free bakery products.
The elevated level of awareness about the potential benefits of
gluten free foods among the regional population is also bolstering the demand.
The substantial incidence of celiac diseases in the U.S. and the subsequent
rise in health concerns is boosting the regional market. Furthermore, several
regulations put forth by the U.S. FDA which requires manufacturers and
producers of gluten free food products to adhere to norms augurs well for the
North America market. Furthermore, numerous prominent market players in the
region are likely to focus on improving the attractiveness of gluten free foods
by adding value to their brands.
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