The
gluten free food market has risen from strength to strength riding on
the back of the soaring popularity of the food type to combat gluten
sensitivity in worldwide population. World over, the proliferating
demand for gluten free foods among people with celiac diseases has
provided a firm base for the market to evolve. The various digestive
benefits gluten free food possesses, along with the beneficial effect
on intestinal health, has made the food popular in treating a range
of metabolic disorders in worldwide population. The rising preference
of gluten free food has in recent years created new revenue streams
for food and beverage manufacturers. Several food producers have made
a foray into the market with unique positioning strategies to reap
the gains.
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A
growing number of players are also harping on multiple selling
channels thereby expanding the retail overreach of gluten free foods.
This has substantially increased the availability of products across
groceries, supermarkets, and other points of sale. Recent innovations
brought in the taste and flavor of gluten free food has added to its
popularity among weight-conscious populations. The attractive and
sustained demand for gluten free bakery products is also contributing
to the global market revenues.
Bustling
with opportunities, the global gluten free food is projected to rise
at a promising CAGR of 7.7% during the forecast period of 2015–2021.
The market stood at US$2.84 billion in 2014 and the opportunities is
projected to surge to touch a valuation of US$4.8 billion by the end
of the forecast period.
Gluten-free
Bakery Products to witness Attractively Rising Demand through 2021
Based
on product type, the market is segmented into bakery products, baby
food, pasta, and ready-to-eat meals. Of these, the bakery segment is
projected to rise at an attractive CAGR of 8.5% over the assessment
period. The growth is propelled by the extensive demand for various
types of bakery products and the easy availability of gluten free
options in retain stores. Meanwhile, the rising number of diabetic
population who show an inclination toward the consumption of bakery
products is also catalyzing the growth of the overall market. The
expanding retail footprint for the sale of gluten free bakery
products, especially in developed nations, is also providing a
sustained impetus to the segment.
The
various regional segments are North America, Europe, Latin America,
Asia Pacific, and the Middle East and Africa (MEA). Of these, North
America accounted for a prominent share amounting to 23.2% share in
the global market in 2015. The regional market will continue gaining
shares over the forecast period, rising at a robust CAGR of 11.4%
during 2015–2021. The growth of the regional market is attributed
to the rapidly rising demand for gluten free bakery products.
The
elevated level of awareness about the potential benefits of gluten
free foods among the regional population is also bolstering
the demand. The substantial incidence of celiac diseases in the U.S.
and the subsequent rise in health concerns is boosting the regional
market. Furthermore, several regulations put forth by the U.S. FDA
which requires manufacturers and producers of gluten free food
products to adhere to norms augurs well for the North America market.
Furthermore, numerous prominent market players in the region are
likely to focus on improving the attractiveness of gluten free foods
by adding value to their brands.
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