The
global gluten free market products is characterized by the brilliance
of the leading market who collectively hold almost half of the total
market share. These players are expected to invest in effective
marketing strategies in order to retain their wellness in the market
and counter threats from the smaller market players. In 2014, the top
market players viz. Boulder Brands Inc., DrSchär AG/SpA, Mrs
Crimble's, and Genius Foods Ltd held 49.6% of the total market share
in 2014. Although a large number of medium-sized and small market
players exist in the market, it is difficult to challenge the
footholds of the aforementioned players. Since the market is closely
aligned with the food industry, the market players are working
towards understanding the food habits and preferences of the people.
To gain strategic advantages over the competitors, the leading market
players are projected to partner with food supply chains and retail
outlets. Moreover, capturing a wider geographical area is also
expected to be an integral strategy for the leading market. The
acquisition of defunct local players is anticipated to come in handy
for the top market players as they aim to expand their geographical
reach. Some of the key vendors identified in the global market for
gluten free foods are Hain Celestial Group Inc., Genius Foods Ltd.,
and Freedom Foods Group Ltd. These companies are projected to expand
their product portfolio to cater to the tastes and preferences of all
the consumers.
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A
report published by TMR predicts that the global market for gluten
free foods would expand at a sturdy CAGR of 7.70% over the period
ranging from 2015 to 2021. The report finds that the global market
accumulated revenues worth US$2.84 bn in 2014 and this figure is
expected to increase to S$4.8 bn by 2021-end.
Health
Consciousness amongst Consumers to Bolster Demand
Owing
to the concerted efforts of healthcare units, health awareness
campaigns, and easy access to information, people have become
inclined towards consuming healthy foods. Gluten-free food serves a
variety of health benefits such as lowering cholesterol levels in the
body, and this is expected to create tremendous demand within the
global market. Furthermore, gluten free food is less fattening, and
hence, it is recommended for individuals who want to lose weight or
cut down fats. Besides this, gluten free food is extremely useful for
people suffering from digestive disorders. Owing to the
aforementioned factors, it is safe to project that the global market
for gluten
free food would trace an upward graph of growth over the
coming years.
Multiple
Selling Channels to Expand Market
The
availability of gluten free food across a wide range of channels has
facilitated the growth of the global market. Until a decade, only a
selected retail outlets and stores sold gluten free food due to its
scanty demand. However, in recent times, owing to the emergence of
several distribution channels and extended contacts of the
manufacturers, gluten free food is easily available across local
stores, groceries, and other points of sale.
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