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Food Intolerance Products Market Size to Reach USD 22.6 Billion by 2031; Industry Compound Annual Growth Rate of 5.9%

02-14-2023 04:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Food Intolerance Products Market

Food Intolerance Products Market

Rise in prevalence of celiac disease and lactose intolerance among the general population, and increased health consciousness and widespread adoption of vegan, gluten-free, & lactose-free food products drive the growth of the global food intolerance products market.

According to the report, the global food intolerance products market size was valued at $12,145.6 Million in 2020, and is projected to reach $22,654.4 Million by 2031, registering a CAGR of 5.9% from 2022 to 2031.

Prime determinants of growth

Rise in prevalence of celiac disease and lactose intolerance among the general population, and increased health consciousness and widespread adoption of vegan, gluten-free, & lactose-free food products drive the growth of the global food intolerance products market. However, high cost hinders the market growth. On the other hand, rise in urbanization, active promotional activities by product manufacturers, and the continuous introduction of products with aesthetically appealing packaging solutions present new opportunities in the coming years.

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Leading Market Players: -

Nestle S.A.
General Mills, Inc.
Abbott Laboratories
Kraft Heinz Company
Dr. Schär AG / SPA
Mead Johnson Nutrition Company
Danone S.A.
Fifty 50 Foods Corporation
Boulder Brands, Inc.
Kellogg Company

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Covid-19 Scenario

The outbreak of the Covid-19 pandemic disrupted the sales of the food & beverage industry via brick and mortar stores, which resulted in shift of consumers toward online sales channels to purchase consumer electronic products, thus driving the growth of online sales in food intolerance products industry.
The trend is going to continue in the post pandemic.
The Lactose-Free Food segment to maintain its leadership status throughout the forecast period

Based on product, the lactose-free food segment held the highest market share in 2020, accounting for more than half of the global food intolerance products market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 7.2% from 2022 to 2031. Lactose-free dairy can give the important nutrients found in traditional dairy products, such as calcium and vitamins, to persons who cannot digest lactose. This product category has a broad and growing health appeal among consumers. This benefits and consumer acceptance drives the segment in forecast period.

The Hypermarkets/Supermarkets segment to maintain its lead position during the forecast period

Based on distribution channel, the hypermarkets/supermarkets segment accounted for the largest share in 2020, contributing to nearly half of the global food intolerance products market, and is projected to maintain its lead position during the forecast period. This is due to the fact that they allow shoppers to find and purchase a diverse range of consumer items in one area. Moreover, the online channels segment is expected to portray the largest CAGR of 7.5% from 2022 to 2031. The use of social media and the expansion of digital shopping platforms around the world are attributed to the segment's growth.

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North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2020, accounting for nearly half of the global food intolerance products market. Food intolerance goods are popular in this region because people are more concerned about their health, which leads to the purchase of such healthy items. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 7.1% from 2022 to 2031. This is due to rising adoption of healthy products and rising health issues in the population.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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