The
growing perception of consumers regarding gluten-free food being a
remedy to many health related issues, including weight management and
high cholesterol, bodes well for the gluten-free food market. Despite
being comparatively expensive than other food products, gluten-free
food products are increasingly being consumed owing to medical
reasons or general health and wellness awareness. However, the
primary reason behind the high demand for these products remains the
growing sensitivity towards gluten among an increasing number of
people across the globe.
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The
demand for gluten-free products is estimated to rise in the coming
years as retailers dedicate more shelf space to gluten-free food
products, predicts Transparency Market Research (TMR) in its new
study. According to the study, the global gluten-free food market
will be worth US$4.9 bn by 2021 rising from US$2.8 bn in 2014,
expanding at a CAGR of 7.7% from 2015 to 2021.
Q.
What are the growth opportunities in the global gluten-free products
market?
An
enormous untapped opportunity awaits the gluten-free food products
market, as there is an increasing demand for fresh food products such
as pulses and vegetables, which are gluten-free. Meals based on peas,
beans, and lentils are widely recommended by nutritionists and
doctors for the maintenance of optimum blood sugar levels. Thus,
gluten-free food manufacturers do not have to limit their production
to bakery and ready-to-eat meals, but can expand their product range
to the fresh food industry.
Initiatives
such as the one by the Idaho Potato Commission (IPC) in the U.S.,
targeting various food service players have also encouraged the
growth of the market. The IPC has facilitated food service players to
incorporate potatoes in their menu in order to boost their gluten
free offerings. All these factors serve as opportunities for the
gluten-free food market, due to which the demand for these products
will rise significantly in the future.
Q.
What are the strategies implemented by leading players in the
market?
Maintaining
the prevailing quality standards in the food products comprises one
of the most important strategies for leading players. To sustain in
the global
gluten-free food market, it is of utmost importance for players
to adhere to various regulations and safety standards set by
governments of various countries. Superior quality food products will
see a long term business profitability through customer satisfaction.
Additionally, high quality ensures goodwill and a positive brand
image in the minds of consumers regarding a particular company.
Product
innovation is also one of the most adopted strategy by key players.
Heavy investments in R&D for the development of newer products is
helping players meet demands of consumers.
Q.
What are the recent developments in the global gluten-free food
market?
Helston’s
Good Food Bakery has launched the world’s first gluten-free Cornish
pasty, after intense research of four years for its development.
Targeting especially the high number of people diagnosed with coeliac
in the U.K, the company opened a bakery specializing in gluten-free
products.
After
the success of falafel, salads, and hummus, Greggs, the bakery chain
in the U.K., intends to offer gluten free food products by the end of
2016. Such new product developments are expected to increase the
consumption of gluten-free food and help the market to grow.
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