Gluten Free Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021
Albany, NY -- (SBWIRE) -- 08/30/2016 -- The growing perception of consumers regarding gluten-free food being a remedy to many health related issues, including weight management and high cholesterol, bodes well for the gluten-free food market. Despite being comparatively expensive than other food products, gluten-free food products are increasingly being consumed owing to medical reasons or general health and wellness awareness. However, the primary reason behind the high demand for these products remains the growing sensitivity towards gluten among an increasing number of people across the globe.
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The demand for gluten-free products is estimated to rise in the coming years as retailers dedicate more shelf space to gluten-free food products, predicts Transparency Market Research (TMR) in its new study. According to the study, the global gluten-free food market will be worth US$4.9 bn by 2021 rising from US$2.8 bn in 2014, expanding at a CAGR of 7.7% from 2015 to 2021.
Q. What are the growth opportunities in the global gluten-free products market?
An enormous untapped opportunity awaits the gluten-free food products market, as there is an increasing demand for fresh food products such as pulses and vegetables, which are gluten-free. Meals based on peas, beans, and lentils are widely recommended by nutritionists and doctors for the maintenance of optimum blood sugar levels. Thus, gluten-free food manufacturers do not have to limit their production to bakery and ready-to-eat meals, but can expand their product range to the fresh food industry.
Initiatives such as the one by the Idaho Potato Commission (IPC) in the U.S., targeting various food service players have also encouraged the growth of the market. The IPC has facilitated food service players to incorporate potatoes in their menu in order to boost their gluten free offerings. All these factors serve as opportunities for the gluten-free food market, due to which the demand for these products will rise significantly in the future.
Q. What are the strategies implemented by leading players in the market?
Maintaining the prevailing quality standards in the food products comprises one of the most important strategies for leading players. To sustain in the global gluten-free food market, it is of utmost importance for players to adhere to various regulations and safety standards set by governments of various countries. Superior quality food products will see a long term business profitability through customer satisfaction. Additionally, high quality ensures goodwill and a positive brand image in the minds of consumers regarding a particular company.
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Product innovation is also one of the most adopted strategy by key players. Heavy investments in R&D for the development of newer products is helping players meet demands of consumers.
Q. What are the recent developments in the global gluten-free food market?
Helston's Good Food Bakery has launched the world's first gluten-free Cornish pasty, after intense research of four years for its development. Targeting especially the high number of people diagnosed with coeliac in the U.K, the company opened a bakery specializing in gluten-free products.
After the success of falafel, salads, and hummus, Greggs, the bakery chain in the U.K., intends to offer gluten free food products by the end of 2016. Such new product developments are expected to increase the consumption of gluten-free food and help the market to grow.
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