Weight Management Opens Up New Growth Opportunities for Gluten Free Food Items
Gluten free food has created a new revenue stream in the food and beverage industry. Known to have the ability to lower cholesterol levels, ease digestive issues, and less fattening, gluten free food is seeing an increased demand amongst health conscious consumers. The gluten-free foods market has also been receiving a significant boost from the unique marketing strategies being adopted by manufacturers who are positioning these products as healthy and natural, thereby luring a large pool of the weight-conscious population.
These market drivers are expected to create an opportunity worth reach US$4.8 bn by the end of 2021 from US$2.84 bn in 2014. The market is expected to expand at a CAGR of 7.7% between 2015 and 2021. The product innovation brought in by bakers by selling gluten free items that taste and look the same as non-gluten free products are also augmenting the overall market. Thus, the growing demand for gluten free bakery products is expected to make a generous contribution to the revenues of the overall gluten free food market.
Better Awareness about Health Benefits of Gluten Free Food Keeps North America in the Lead
As of 2014, North America accounted for a 23.2% share of the overall market. This share will continue to increase at a swift pace as this regional market is expected to rise at a CAGR of 11.4% from 2015 to 2021. The unprecedented growth of the gluten free food in North America will be due to the burgeoning demand for gluten free bakery items amongst the weight-conscious consumers. Furthermore, the higher level of awareness about benefits of gluten free food amongst overall consumers as compared other region will also propel this market in the near future.
The high cases of celiac disease registered in the U.S. will be yet another factor responsible for the rise of this market in North America. Citing this health concern, the U.S. Food and Drug Administration (FDA) has set parameters for food that will be labeled as gluten free to avert the chances of consumers being misled by information printed on food packets.
Gluten Free Bakery Products Remain Most Popularly Consumed Food Items
Out of all the products available in the global gluten free food market, the bakery products segment is expected to witness a robust growth pattern. The dependency on bakery items and a wide range of bakery items available through a sprawling network of retailers will be responsible for the rise of this segment. The gluten free bakery segment is expected to progress at a CAGR of 8.5% during the forecast period. Furthermore, the growing number of diabetics who also prefer gluten free food items due their long-term health benefits will also be crucial to the momentum this segment will pick in near future.
Some of the important players shaping the competitive landscape of the global gluten free market are Dr Schar AG/SpA, Boulder Brands Inc, Hain Celestial Group Inc., Freedom Foods Group Ltd., Genius Foods Ltd., and Mrs Crimble's amongst others. Companies are focusing on expanding into fresh food verticals to appeal to a wider audience in the coming years. Furthermore, players will also have to ensure utmost food safety to earn improved brand value in the near future.
The rising number of people with gluten sensitivity and celiac disease is a key factor driving the global gluten-free food market. In addition to this, gluten-free diet is also associated with weight management and overall health, further driving its demand. These factors, coupled with the rapid change in consumer lifestyle, are anticipated to push the global gluten-free food market to expand at a steady pace over the coming years.
The gluten-free food market is segmented on the basis of product type and geography. By the type of product, the market is categorized into baby food, ready-to-eat meals, bakery products, and pasta. By geography, the gluten-free food market is divided into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
The report on the gluten-free food market is a comprehensive evaluation of the scope and dynamics of the global market. It focuses on the key growth trends and determining factors that have had an impact on the gluten-free food market in the past and forces that are likely to influence its trajectory in the coming years. Valuable insight into the workings of the global gluten-free food market has been provided by industry experts and analysts to give readers a clear, unbiased, and in-depth understanding of the market.
Overview of the Gluten Free Food Market
The report states that the global gluten-free food market is poised to expand at a 7.70% CAGR from 2015 to 2021, rising from a value of US$2.8 bn in 2014 to US$4.8 bn in 2021. By volume, the gluten-free food market is anticipated to grow from 277.2 thousand metric tons in 2014 to 423.0 thousand metric tons in 2021 at a 6.10% CAGR therein. This growth can be attributed to the rising demand for innovative gluten-free bakery products, the growing focus on weight management, and the increase in public awareness regarding the potential benefits of gluten-free food. On the flip side, the lack of awareness about celiac disease is anticipated to hamper the development of the gluten-free food market.
The gluten-free food market is dominated by gluten-free bakery products. This segment comprises biscuits, donuts, muffins, bread, cakes, pies, and pastries. Region-wise, Europe holds the largest share in the global gluten-free food market, making up 52.5% in terms of revenue in 2014. North America is likely to be the fastest expanding regional market by 2021 fueled by the positive consumer response to gluten-free diet and the rising number of patients suffering from celiac disease.
Companies Mentioned in the Report
The leading companies profiled in the gluten-free food market report are Genius Foods Ltd, Freedom Foods Group Ltd, Dr Schar AG/SpA, Hain Celestial Group Inc, and Boulder Brands Inc. These players are evaluated based on key criteria such as company overview, business strategies, product portfolio, financial performance, and recent developments.
Global Gluten-free Food Market by Product Type
- Gluten-free bakery products
- Gluten-free baby food
- Gluten-free pasta
- Gluten-free ready meals
Global Gluten-free Food Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- Latin America
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments