Gluten-free Products Market by Type (Gluten-free Baby Food, Gluten-free Pasta, Gluten-free Bakery Products, and Gluten-free Ready Meals) - Global Opportunity Analysis and Industry Forecast, 2014-2022
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The global market is expected to witness substantial growth in the near future, attributed to factors such as promotion of health and wellness, increase in demand from millennial, improvement in marketing activities, rise in awareness about celiac disease and other gluten allergies. However, price sensitivity is a factor which is projected to restrain the market growth. Increase in incidence of celiac disease is one of the driving factors of the market. The numbers of celiac patients rise across the globe which has increased the demand of gluten-free products for their intolerance toward wheat. Moreover, rise in demand from millennial is a significant factor which is leading to the market growth. Many people seeking weight management and digestive health involve gluten-free foods in their lifestyle and help transform the market.
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In the year 2015, the gluten-free bakery products segment occupied approximately 60% share of the overall market revenue, and is anticipated to maintain its dominance during the forecast period. This is due to increase in inclination of consumers toward healthy bakery products such as biscuits and breads as well as increase in use of packaged bakery products among working professionals across the globe.
Key Findings of the Gluten-free Products Market
•Gluten-free pasta segment is anticipated to grow at the fastest rate during the forecast period.
•Europe is estimated to continue to lead the market in terms of market share.
•Australia occupied for more than one-fifth of the total share of the Asia-Pacific gluten-free products market in 2015.
•India is estimated to grow at the highest CAGR of 8.9%, in terms of revenue.
•Gluten-free ready meals segment is expected to show a significant growth in the Asia-Pacific region.
Europe accounted for the largest share in the global gluten-free products market, due to increase in awareness among consumers toward healthy food products. North American region is further expected to account for the second largest share in the global market, due to increase in incidence of celiac disease and gluten intolerance, and is anticipated to register the highest growth rate during the forecast period.
Some of the major players operating in the global gluten-free products market are Pinnacle Foods, Inc., Hain Celestial Group, Inc., General Mills, Inc., Kellogg Company, The Kraft Heinz Company, Genius Foods Pvt. Ltd, Freedom Foods Group Limited, Mondelez International Inc., Wessanen and Valeo Foods Group Limited.
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Rise in demand from millennial is a significant factor which leads to the market growth. Many people seeking weight management and digestive health involve gluten-free foods in their lifestyle and transform the market.
Improvement in Marketing Activities and Improved Distribution Channels
Another key factor that drives the market is improved marketing initiatives by manufacturers and improved distribution channels. Increase in awareness about the benefits of gluten-free products and several campaigns started by companies support the market growth.
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