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Gluten-free Products Market to Witness Unprecedented Growth in Coming Years

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Gluten-free Products Market to Witness Unprecedented Growth in Coming Years

February 27
15:34 2020
Gluten-free Products Market to Witness Unprecedented Growth in Coming Years

MarketsandMarkets™
The gluten-free products market was valued at USD 4.18 billion in 2017; this is projected to reach USD 6.47 billion by 2023, at a CAGR of 7.6% during the forecast period.

The Gluten-Free Products Market is Projected to Account for USD 6.5 Billion By 2023 Changing lifestyles of consumers and growing awareness about the celiac disease have led to a surge in demand for FDA-certified health-enriching products. An increasing number of health conditions such as high cholesterol levels, obesity, and low energy levels have encouraged retailers to allocate products that align with the health requirements of consumers. To cater to the increasing demand for fat-free products, manufacturers focus on utilizing gluten-free ingredients in their products.

Gluten-free Products Market

 

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The market, based on type, has been segmented into bakery products, snacks & RTE products, pizzas & pastas, condiments & dressings, and others. The market for bakery products is estimated to dominate in 2018, while the snacks & RTE products segment is projected to be the fastest-growing during the forecast period. Companies have identified that gluten-intolerant consumers due to their busy lifestyles and increased snacking requirements require quality snacks & RTE products. This has encouraged manufacturers to venture into the gluten-free snacks & RTE products category.

The gluten-free products market, by distributional channel, has been segmented into conventional stores, specialty stores, and drugstores & pharmacies. The conventional stores segment is estimated to dominate the market in 2018 and is projected to grow at the highest CAGR by 2023. As these stores are easily accessible, consumers find it an economical alternative. The different types of conventional stores considered for the study include grocery stores, mass merchandisers, warehouse clubs, and online retailers.

Bakery and confectionery products are considered staple foods in various countries of Europe. Increasing consumption of bakery and confectionery products in the region have encouraged retail outlets to accommodate shelves with innovative products that are low-fat, gluten-free, and health-enriching. Also, a major section of the population in Europe is gluten-intolerant, due to which preference for gluten-free products remains high. On account of these factors, Europe is projected to record the fastest growth in the market during the forecast period.

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Key players in the gluten-free products market include The Kraft Heinz Company (US), The Hain Celestial Group, Inc. (US), Pinnacle Foods Inc. (US), General Mills, Inc. (US), and Kellogg Company (US). Some of the other players that hold a significant share of the gluten-free products market are Hero AG (Switzerland), Barilla GER Fratelli SPA (Italy), Pasia Plc (Finland), Dr. Schar AG/SPA (Italy), Farmo SPA (Italy), Freedom Foods Group Limited (Australia), Genius Foods (UK), Enjoy Life Foods (US), Norside Foods Ltd. (UK), and Warburtons (UK).

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