Gluten Free Bakery Market Revenue | Share, Global Demand by 2023
Market Outlook
Global Gluten Free Bakery Market Revenue is poised to reach a stellar size by 2023. It can exhibit a CAGR of 5% from 2020 to 2023 (forecast period). It stood at USD 868 million in 2019. Rising incidence of gluten-related diseases have induced the need for gluten-free foods. Consumer awareness of celiac disease combined with the gluten-free bakery items gaining traction can drive the market demand during the forecast period.
Rising incidence of celiac disease in developed economies can work in favor of the market and trigger the global gluten-free bakery market demand. Gluten-free bakery items are nutritious, highly digestible, and touted to heighten the immunity system of the human body. Consumers with an inclination towards healthy foods can provide the market the needed impetus for massive growth. Cookie and snack premixes produced by manufacturers are an indicator of the changing food habits of consumers and the wide scope of experimentation.
High cost of gluten-free items can pose an impediment to the market growth.
Competitive Analysis
Major industry participants in the Gluten Free Bakery Market Revenue include Freedom Foods, Hain Celestial Group, Dr. schär ltd., Hero Group Ag, General Mills, Inc., Enjoy Life Foods, and Blue Diamond Growers. Alliances, acquisition of bakeries, and diversification of product portfolios are some of the strategies to be followed by these players to sustain their foothold in the market.
Segmentation Analysis
Global Gluten Free Bakery Market Revenue is segmented by ingredient, product type, and distribution channel.
By ingredient, it is segmented into quinoa, buckwheat, corn, rice, and others. ‘Others’ include protein sources, flavor, and hydrocolloids.
By product type, it is segmented into dough & ready mixes, sandwiches & wraps, cookies & biscuits, muffins & cupcakes, cakes &cheese cakes, rolls & buns, doughnuts, bread, and others. The bread segment is predicted to gain the maximum share of the market due to inclination of consumers towards due to the product containing ample nutritious value. It is consumed in high quantities due to its benefits in prevention of disease, weight loss, and controlling high cholesterol levels.
By distribution channel, it is segmented into store-based and non-store-based. The store-based segment is expected to one of the major sources of revenue due to specialty stores being highly profitable.
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Regional Analysis
Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW) are regions taken into consideration in the compilation of the global gluten-free bakery market report.
The Europe region is expected to be dominant followed by North America. Germany is the biggest revenue generator in the region due to prevalence of celiac disease and gluten intolerance. Innovative formulations for creating appetizing gluten-free bakery items by major manufacturers can bode well for the region. Popularity of gluten-free bread recipes can be favorable for the global gluten-free bakery market. Emergence of various patisseries, bakeries, and confectioneries which offer gluten-free foods to cater to the growing consumer base can bode well for the market.
The North America region can generate significant revenue for the global market due to rising incidence of gluten allergies among children and adults. According to the Center for Celiac Research, the probability of celiac disease can double every 15 years, making the region viable for investment. The increasing number of gluten intolerance and insensitivity will drive the market growth. Consumption of antibiotics as well as environmental changes.
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