Press release
Food Intolerance Products Market to Witness Robust Growth, Projected to Reach $25.56 Billion by 2028
Food Intolerance Products Market
The food intolerance products market has demonstrated robust growth, ascending from $17.64 billion in 2023 to $19.05 billion in 2024, with a commendable Compound Annual Growth Rate (CAGR) of 8.0%. The market is anticipated to sustain this momentum, projecting strong growth to attain $25.56 billion by 2028, driven by a CAGR of 7.6%.
Key Growth Drivers:
Soaring Popularity of Vegan Diets: The escalating adoption of vegan diets, primarily comprising plant-based foods, is a prime catalyst propelling the food intolerance products market. Embracing fruits, vegetables, soy, nuts, and plant-based dairy alternatives, a vegan diet fosters better digestion and health without causing intolerance. The Food Revolution Network reported a projected increase in plant-based dairy and meat sales to $162 billion by 2030, constituting nearly 8% of the global 'protein foods' market. As the vegan diet gains traction, it is poised to drive the demand for food intolerance products.
Rising Prevalence of Food Allergies: The surge in food allergies globally is a significant driver fueling the growth of the food intolerance products market. Food allergy, an abnormal immune response to specific foods, has prompted the development of products free from allergens, gluten, lactose, and other intolerant-inducing ingredients. Nearly 6% of U.S. adults and children have a food allergy, as per the Centers for Disease Control and Prevention, emphasizing the need for allergen-free food intolerance products.
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Major Players:
Leading companies in the food intolerance products market include Nestle SA, General Mills Inc., Kraft Heinz Company, and Danone SA, among others.
Market Trends:
Strategic Partnerships Drive Innovation: The trend of strategic partnerships and collaborations is gaining prominence in the food intolerance products market. Companies are joining forces to introduce new products and enhance supply chains. For instance, PepsiCo, Inc., and Beyond Meat, Inc., formed The PLANeT Partnership, LLC, a joint venture focusing on plant-based protein snacks and beverages, illustrating the impact of strategic partnerships on market innovation.
Innovative Lactose-Free Solutions: Key market players are concentrating on innovating lactose-free solutions to gain a competitive edge. Lactose-free products, such as Bharat Skyr &Doodh Products Private Limited's Lactose-Free Greek Yogurt, cater to individuals with lactose intolerance, offering a delightful dairy experience.
Regional Insights:
North America emerged as the largest region in the food intolerance market in 2023, while Asia-Pacific is anticipated to be the fastest-growing region in the forecast period. The regions covered include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The food intolerance products market covered in this report is segmented -
1) By Product Type: Diabetic Food, Gluten-free Food, Lactose-free Food
2) By Type: Bakery Products, Confectionery Products, Dairy and Dairy Alternatives, Meat and Seafood Products, Other Types
3) By Distribution Channel: Hypermarkets/Supermarkets, Convenience Stores, Online Channels, Other Distribution Channels
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Food Intolerance Products Global Market Report 2024from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheFood Intolerance Products Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on food intolerance products market size, food intolerance products market drivers and trends, food intolerance products market major players, food intolerance products market competitors' revenues, food intolerance products market positioning, and food intolerance products market growth across geographies.The food intolerance products market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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