The
global food industry is a highly dynamic one in which patterns of
consumption are constantly evolving on account of new products having
various unique perceived benefits being unveiled every now and then.
This has spawned a market for gluten
free food that has grown at a healthy clip. Prominent players
in the market, namely Genius Foods Ltd, Boulder Brands Inc., Mrs
Crimble's, and DrSchär AG/SpA, are constantly focused on innovating
better products to beat competition and to bolster their positions.
Carefully-considered mergers and acquisitions is another key strategy
leveraged by them to enhance their positions.
As
per a report by Transparency Market Research, the global market for
gluten free products is slated to expand at a healthy 7.7% CAGR from
2015 to 2021 to attain a value of US$4.8 bn by the end of 2021 from
US$2.84 bn in 2014.
Why
are health conscious consumers at the forefront of driving demand for
gluten free products?
A
number of factors are stoking the market for gluten free products
globally. The rising ranks of discerning consumers, primarily
comprised of millennials, increasingly shunning anything they
perceive as unhealthy is one such prominent factor, or rather growth
driver in the market. Gluten is said to add weight that in turn can
result in a number of health conditions. Hence, more and more
consumers are preferring gluten free food items that regularize
cholesterol levels, push up energy levels, and better digestive
health.
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To
tap into the newfound concern among buyers, manufacturers are
increasingly coming up with gluten-free food products. Most food
products these days, ranging from pasta, bakery products, and ready
meals to baby foods carry the phrase “gluten-free” on their
packaging. Those who prefer organic and natural food are increasingly
buying such products. Emergence of bakery products free of glutens
and formulated with effective substitutes is already boosting demand
in the market. Increasing number of diabetics worldwide is another
prominent growth driver.
What
is one restraint that the market needs to overcome?
A
major restraint in the global market for gluten free food is the
dearth of awareness about celiac disease, which is an autoimmune
condition in which the human body reacts to gluten by mistake. Gluten
free food can help deter this condition but most people are unaware
of it. Celiac disease mostly goes undiagnosed or is mistakenly
thought to be an allergy to food having gluten content. Educating
people through product advertisements through various mediums can
help overcome the challenge.
Why
are bakery products leading the market?
Among
all the gluten free food products in the market, the bakery products
are seeing maximum uptake and going forward too will continue
accounting for most of the demand. Wide popularity of bakery products
worldwide and a massive, well-connected network of retailers will
likely underpin the momentum in the segment. The report by TMR
predicts the gluten free bakery segment to rise at an impressive 8.5%
CAGR from 2015 to 2021.
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