Free from Food Market grow at a 7.7% CAGR and to reach $161.2 billion by 2026
The growth in value sales for free from ingredients is attributable to surge in demand for different free from food products, which facilitate better taste. Thus, increase in willingness of customers for different types of natural tastes in food & beverages is expected to fuel the demand for free from food market.
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The consumer preference toward organic, natural, and healthy food is on a constant rise owing to increase in health consciousness among consumers. Further, surge in disposable income, improvement in living standard, rise in health expenditure, and large scale promotion of organic food owing to its benefits, such as chemical free and natural, drive the growth of free from food market. A gluten-free food is essential for managing signs and symptoms of celiac disease and other medical conditions associated with gluten. Gluten free products are also popular among people who haven't been diagnosed with a gluten-related medical condition. The claimed benefits of the diet are improved health, weight loss and increased energy
The food industry has been evolving in terms of innovations and demand. 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 the developed as well as the developing countries. This has resulted in increased demand for various types of special free from food made using organic products. Thus, free from food market products are gaining increased traction among food & beverage manufacturers, which significantly drives the free from food market growth.
Free from food products have further witnessed higher rate of penetration in North America and Europe. However, low availability has been observed in some major parts of Asia-Pacific and LAMEA, which is attributable to low performing macro-economic factors such as low internet penetration and weak marketing strategies by the manufacturers. Thus, lower penetration of such products limits the growth of the market.
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Increase has been witnessed in number of users in various social media sites with rise in internet penetration. Taking this into consideration, most of the key players in the market strategize on promoting their products on these social media platforms. Thus, free from food market analysis through social media marketing strategy, the market sights critical opportunity in gaining traction.
Key Findings of the Study
Depending on type, the sugar-free segment garnered 30.0% of free from food market share in 2018, and is expected to grow at a CAGR of 7.0% from 2019 to 2026.
The artificial ingredient-free food segment was valued at $12.8 billion, and is expected to reach $20.3 billion by 2026, registering a CAGR of 6.1 %.
In 2018, by distribution channel, the dairy & frozen dessert segment accounted for 58.3% share of the market, and is expected to grow at the CAGR of 6.9%.
The online retail stores segment accounted was valued at $7.8billion, and is expected to reach $18.1 billion by 2026, registering highest CAGR of 11.3%.
Region wise, North America accounted for a prominent market share in 2018, and is anticipated to grow at a CAGR of 7.2% throughout the free from food market forecast period.
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The key players operating in the free from food 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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