The free-from food market is expected to surpass revenues worth US$ 60 Bn in 2019, according to a new study of Fact.MR. GMO-free food sales continue to remain influenced by a range of factors, including rising consumer awareness on food allergies and intolerances, and upward trend of health & wellness. In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global free from food market considering 2014-2018 as the historic year and 2019–2028 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting free from food market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume. The keyword market study outlines the key regions – Latin America, North America, MEA, Japan, Europe and APEJ – along with the countries contributing the most in the respective regions.
The study opines that growing prevalence of lactose intolerance among the global population continues to remain a key growth determinant of the free-from food market. According to the US National Library of Medicine’s Genetic Home Reference, nearly 65% of world population has been affected from lactose intolerance. Additionally, over 90% adults in East Asia have been identified to suffer from lactose intolerance.
The Fact.MR report also tracks the free from food market for the forecast period 2019-2028. According to the report, the free from food market is projected to register a CAGR of nearly 7.0% CAGR through 2028. As concerns over the consumption of food products made using Genetically Modified (GMO) crops continue to gain significance worldwide, it is highly likely that demand for GMO-free food products will witness a notable rise in the near future. Sensing the opportunity in GMO-free food, manufacturers are currently focusing on proper and informed product labelling, so as to attract a wider consumer base.
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The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Vitasoy International Holdings Ltd., Coca-Cola Co., General Mills Inc., Blue Diamond Growers, Kikkoman Corporation, and many more.
Modern-Trade Accounts for Largest Share of Free-From Food Sales
Attractive product display and wider availability of options to choose from are key offerings of modern trade channels, which has led its popularity as a lucrative sales channel for food & beverages, and free-from food is no exception. According to the report, free-from food sales through modern trade are expected to surpass revenue worth US$ 22 Bn in 2019. The convenience of access to a large variety under one roof is another aspect attracting consumer attention toward these stores for purchasing goods, which have been complementing sales of free-from food in modern trade. The report states that growing visibility of multinational grocery stores, particularly in emerging countries, has further been a key sales influencer of free-from food via modern trade.
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North America to Remain Most Lucrative Market for Free-From Food
North America will continue to spearhead the free-from food market, with sales expected to bring in revenues over US$ 19 Bn in 2019. Free-from food sales in the region can be attributed to consumer awareness regarding growing prevalence of celiac disease, coupled with lactose intolerance and gluten intolerance, among consumers. This, along with the relative economic vigor of consumers will continue to underpin sales of free-from food in North America. Increasing bakery product consumption in the region is also encouraging manufacturers to offer gluten-free bakery products. Robust consumption of bakery food in North America is another factor paving opportunities for free-from food manufacturers to leverage.