Gluten free Snacks Market Size Expected to Grow at a CAGR of 8.3%

According to a new report published by Allied Market Research, titled, "Gluten free snacks Market," The gluten free snacks market was valued at $843.60 million in 2021, and is estimated to reach $1.8 billion by 2031, growing at a CAGR of 8.3% from 2022 to 2031.

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The players operating in the global gluten free snacks industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report are Freedom Foods Group Limited, General Mills, Inc., Kellogg Company, Koninklijke Wessanen N.V, Mondelez International Inc, ConAgra Foods Inc, Quinoa Corporation, The Hain Celestial Group, Inc, The Kraft Heinz Company and Valeo Foods Group Ltd.

Over time, people have become more aware of the significance of gluten free eating. This is brought on by the sharp increase in chronic health problems. In order to address the health issue, consumers nowadays have embraced special diet plans and even changed their lifestyles to keep in shape. Use of low-calorie snack products is one of the significant developments associated with this trend. Gluten free snacks have become more popular as they do not include gluten and are less likely to be nutritionally complete as they offer a lot less calories than are required to maintain a healthy weight.

The demand for gluten free snacks has grown in recent years. People's adherence to gluten free diets has increased, in part because of greater awareness of gluten related illnesses, particularly celiac disease, but primarily because of the common notion that a gluten free diet is better. For instance, according to The American College of Gastroenterology, they estimate that in 2020, The prevalence of biopsy-confirmed Celiac disease (CD) is estimated at 0.7%, while diagnosis based on serology is estimated at 1.4% of the population. Thus, growing obesity and related health problems are likely to increase gluten free snacks market demand during forecast period.

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However, there are several barriers to the expansion of gluten free snacks industry, including the high cost of gluten free items, their scarcity, and misunderstandings around gluten free diets. On the other hand, difficulties in the production of gluten free goods present a problem for those who make such goods.

According to the gluten free snacks market analysis, the gluten free snacks market is segmented into product type, distribution channel, generation and region. By product type, it is segmented into nutrition bars, candy bars, salty snacks, nuts and others. By distribution channel, it is segregated into convenience stores, supermarkets & hypermarkets, specialty stores, drugstores & pharmacies, e-commerce and others. By generation, it is further segmented into millennials, generation x and baby boomers. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Thailand, Indonesia and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia and Rest of LAMEA).

According to the gluten free snacks market trends, on the basis of product type, the candy bars segment was the significant contributor to the market, with $123.5 million in 2021, and is estimated to reach $320.9 million by 2031, at a CAGR of 10.1% during the forecast period. Since celiac disease is a common disease according to the National Institutes of Health, the market is growing as more people become afflicted with it. Celiac disease can be triggered by a protein called gluten. In addition, the demand for gluten free candy bars is being fueled by the fact that they are a healthier alternative to regular candy bars. The market for gluten free candy bars is expanding as people have become more aware of the health advantages of eating low-calorie and gluten free products.

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According to distribution channel, the convenience stores segment was the significant contributor to the gluten free snacks market, with $145.2 million in 2021 and is expected grow at a CAGR of 5.1% during the forecast period. The key impacting factor driving this distribution channel segment is easy accessibility. The convenience stores are conveniently placed and remain open for longer hours. This makes convenience stores a popular option for customers who do not want to spend time traveling long distances for gluten free snacks.

On the basis of generation, the millennials segment was the highest contributor to the market, with $383.2 million in 2021 and is expected grow at a CAGR of 7.1% during the forecast period. In the upcoming years, it is anticipated that the rising trend of corporate executives and sportsmen consuming low-calorie and gluten free foods are likley to supplement the gluten free snacks market growth. In addition, it is projected that working adults' increased consumption of these snacks to maintain a healthy lifestyle will fuel the expansion of the global market during the forecast period. The demand for gluten free snacks among adults is anticipated to rise as sports athletes and people in the workforce become more aware of their intake and diet in order to maintain a healthy level of nutrients in their bodies. Thus, above factors are likely to supplement the growth of the gluten free snacks market through the millennials segment.

According to the Gluten free snacks market opportunities, region wise, Europe garnered the major gluten free snacks market share in 2021 and is expected to maintain its market share throughout gluten free snacks market forecast period. In 2021, Europe is anticipated to hold the greatest market share for gluten free goods. The large share of this region is primarily attributed to the increase in consumer health consciousness, the rise in the number of celiac disease cases, the prevalence of wheat intolerance, the ease with which gluten free products can be found in almost all grocery stores, the rise in demand for gluten free bakery goods, the improvement of distribution channels, and the increase in marketing efforts. In addition, it is anticipated to expand quickly over the course of the forecast period due to the rising popularity of prepared meals and frozen foods free of gluten.

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Key finding of the study
The gluten free snacks market size was valued at $843.6 million in 2021, and is estimated to reach $1,844.9 million by 2031, registering a CAGR of 8.3% from 2022 to 2031.
In 2021, by product type, the nutrition bar segment was valued at $283.5 million, accounting for 33.6% of the market share.
In 2021, by distribution channel, the specialty stores segment was valued at $120.2 million, accounting for 14.2% of the market share.
In 2021, on the basis of generation, the generation X segment acquired $316.1 million, exhibiting 37.5% of the global market share.
Germany was the most prominent market in Europe in 2021, and is projected to reach $139.5 million by 2031, growing at a CAGR of 7.1% during the forecast period.

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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 domain.
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