Newark, NJ, June 22, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The is expected to grow from USD 5.55 billion in 2019 to USD 9.98 billion by 2027, at a CAGR of 7.6% during the forecast period 2020-2027.
The rise in the prevalence of lifestyle-related diseases, increased chronic diseases, growing awareness about less saturated fat and increasing cases of Irresistible Bowel Syndrome are some of the factors fuelling the gluten-free products market.
Gluten is responsible for systemic and gastrointestinal symptoms who are suffering from a wheat allergy, dermatitis herpetiformis and gluten ataxia. This found in barley, rye and wheat. People who are sensitive to gluten or celiac disease should consume gluten-free products to avoid and adverse effect on health. Gluten-free products should be the right balance of macro and micronutrients. The Gluten protein is having low biological value and nutritional value. Processed foods contain gluten as a coating, gelling agent, fillers, thickeners and emulsifiers. The growing incidences of Irresistible Bowel Syndrome are driving the market.
The high cost of gluten-free products is acting as a restraint for the market. The high cost of such products would make it less accessible to the people who are having less disposable income and for the people who are having a limited budget. However, the growing awareness towards health and rising disposable income in the emerging economies would propel the market in the forecasting period.
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Key players for the global gluten-free products market include Hain Celestial Group, Inc., Freedom Foods Group Limited, Hero Group AG, Quinoa Corporation, General Mills, Inc., Boulder Brands, Dr Schar AG, Mrs Crimble’s, HJ Heinz Company, Kellogg Company, The Kraft Heinz Company, Wessanen, Genius Foods Pvt. Ltd, Mondelez International Inc., Pinnacle Foods, Inc., and Valeo Foods Group Limited, Kelkin Ltd. and Raisio PLC among others.
- The big players are now focused in the implementation of strategies like joint venture, product innovations, merger and acquisition and partnerships etc. to gain the market share and to strengthen its position in global gluten-free products industry. For instance, in February 2017, Hain Celestial Group, Inc have signed an agreement to acquire The Yorkshire Provender Ltd. This helps the organization in expanding its product portfolio and increase the customer base.
- In February 2020, Mondelez International Inc entered in an agreement to acquire Give & Go. This acquisition would help the organization in expanding the leadership in broader snacking. This help in increasing the customer base.
The bakery products segment seems to show the highest growth rate during the forecast period
The type segment includes pasta and rice, prepared foods, desserts & ice creams, condiments, seasonings, spreads, meats/ meats alternatives, dairy/ dairy alternatives and bakery products. Bakery products segment seems to show the highest growth rate during the forecast period. This due to the surge in demand for gluten-free snacks & RTE products category due to increased snacking requirements and sedentary lifestyles
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Health food store segment seems to show the highest growth over the forecast period
The distribution channel segment includes drug stores, club stores, health food store, mass merchandiser and grocery stores. Health food store segment is anticipated to show the highest growth over the forecast period. This is because of the rise in per capita income of the people in the developed and developing world and also due to the rising awareness about the health.
Regional Segment Analysis of the Gluten-Free Products Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the Gluten-Free Products market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia Pacific is anticipated to show the fastest growth over the forecast period. The leading factors for the surge in demand for gluten-free products market are growing e-commerce market and growing internet penetration. The European market also seems to show the highest growth as people are widely adopting gluten-free diets due to health benefits.
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About the report:
The global gluten-free products market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
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