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.
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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.
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