Global Gluten Free Food Market: Overview
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.
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.
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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.
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.
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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.