According to a recent report by Transparency Market Research, the global gluten free foodmarket is likely to expand at a notable CAGR of 7.70% within the forecast period from 2015 to 2021. The report suggests that the market in 2014 was valued around worth of US$2.84 bn, and is anticipated to increase at worth of $4.8 bn by the end of 2021.
The developing demand regarding gluten-free bread kitchen items is one of the crucial factors driving the gluten free food market development. Gluten-free pastry shop items are seeing generous new item dispatches including gluten-free biscuits, bagels, treats and wafers, pies and cakes, pretzels, croissants, baking mixes, focaccia, baking powder, bread, and others. Business volume of these items will keep on expanding with item advancements and rebranding, thus, pumping the market growth in future.
Easy Accessibility to Stimulate Demand across Globe
Simpler reach and accessibility of gluten-free foods is a noteworthy pattern picking up pace in gluten-free food market. To increase sales, nearby bread shops are joining forces with supermarkets for selling their gluten-free food products. Box retailers are likewise including a gluten-free variety of items to their in-store shops for guaranteeing bettervisibility and offering accommodation to the clients. Powered by these elements, the gluten free food market will develop at a relentless pace.
In terms of product type, the market is classified into baby food, bakery products, ready-to-eat meals, and pasta. Of these, the bakery segment is anticipated to surge at an alluring CAGR of 8.5% within the forecast period. The development is supported by the high demand for different kinds of bakery items and the simple accessibility of gluten-free alternatives in retail stores. In addition, the rising number of people suffering from diabetes who have an inclination toward the utilization of bakery items is additionally catalyzing the growth in global gluten free food market. The growing retail inclination towardthe clearance of gluten free pastry shop items, particularly in developed countries, is additionally contributingthe growth of gluten free food market.
Rising Preference for Healthy Foods to Make Asia Paciifca rapidly Developing Region
Asia Pacific is probably going to observe the quickest development attributable to expanding demand regarding healthy food products. In addition, extraordinary marketing methodologies embraced by key makers in the region to catch a considerable market sharecontribute in fueling market demand. North America also held prominent share in 2018. Simple accessibility of such foods is anticipated to help market development, most importantly in the U.S. and European nations. The development of the U.S. market is probably going to be in accordance with the growing awareness about the celiac illness. Besides, awareness regarding sound lifestyle will propel the market further.
The gluten free food market is exceptionally competitive with the emergence of various global organizations across the leading economies. The organizations are stressing on expanding their global reach to increase higher market share. There are different family-based organizations, which supply items to selected or nearby regions. Larger part of such organizations is situated in Australia. Among the key market members are The Hain Celestial Group, Inc.; Hero Group AG; General Mills, Inc.; Kellogg’s Company;The Kraft Heinz Company; Boulder Brands, Inc.; and Glutamel.
The review is based on TMR’s report titled, “Gluten Free Food Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2021”