Although
only some shoppers look for the gluten-free label and many others
unknowingly purchase gluten-free food items, marketers are
nevertheless jumping on the gluten-free bandwagon. Health conscious
consumers today are experimenting with alternative eating styles such
as lactose-free and gluten-free diets, which is favoring the global
gluten-free food market. With big conglomerates such as Nestlé
coming up with brands such Lean Cuisine Marketplace and Stouffer’s
FitKitchen that feature gluten-free and simple ingredients, the
growth in the gluten-free market is expected to be high.
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Including
Gluten-free Food Products to Benefit Manufacturers in Food Business
On
observing the growing consumer interest in gluten-free foods,
companies such as General Mills have smartly responded by adding
gluten-free baking kits to their line. As more and more people become
interested in gluten-free, functional foods, companies in the food
industry can take a cue from General Mills. Companies have a big
opportunity to grow by responding to the growing health and wellness
trend, by manufacturing innovative food products. This trend of
consuming gluten-free food has brought to attention the use of
ancient and alternative whole grains or flours such as amaranth,
chia, buckwheat, teff, millet, and sorghum.
New
product development is the most commonly seen strategy in the
gluten-free food industry as innovation in ingredients is important
to drive this market forward. The demand for variety in gluten-free
products and newer products is increasing as consumers are
increasingly noticing an improvement in quality in recent years.
Manufacturers in the food industry can re-align their product range,
adapting to new product formulations and ingredients. This will help
the market to grow. According to a report by Transparency
Market Research (TMR),
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.
New
Entrants to Stand Good Chance of Survival in Gluten-free Food Market
As
the competition in gluten-free market is intensifying, small
companies in the market can gain a strong foothold even when faced
against bigger and popular brands. This is because, the companies
leading in the food industry do not yet have a wide presence in the
gluten-free market. As such, new entrants that wish to jump into the
fray can utilize their innovation to experiment with new ingredients
and develop newer products, appealing to the masses. However, to
achieve maximum sales, companies need to protect the gluten-free food
products category from consumer misconceptions and escalating prices
of these products, which are the two major factors dampening the
market’s growth.
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