Gluten Free Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021
Albany, NY -- (SBWIRE) -- 02/08/2017 -- As the demand for gluten free products increases across different application segments, key players in the global gluten free food market have found themselves in an increasingly fierce competition to enhance their visibility. As a result, they are investing heavily in research and development activities to develop innovative products. Transparency Market Research (TMR) finds that key players are focusing towards business expansion through mergers and acquisitions.
Some of the key players in the global gluten free food market are Boulder Brands Inc., Genius Foods Ltd., Mrs. Crimble's, Enjoy Life Foods LLC, DrSchär AG/SpA, and Freedom Foods Group Ltd. "Players are paying high attention to product quality, as customers are lining up to patronize the providers that are offering superior quality products," says TMR's lead analyst
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Demand for Gluten Free Bakery Products to Remain High through 2021
The global gluten free food market had a valuation of US$3.41 bn in 2015 and is poised to reach US$4.88 bn by 2021, rising at a CAGR of 7.7% from 2015 to 2021. On the basis of product, the market will be led by bakery products throughout the forecast. The segment is anticipated to represent nearly 63.2% of the overall market revenue by 2021, expanding at a significant CAGR of 8.5% during the same period. The increasing consumption of gluten free biscuits worldwide is primarily driving the growth of the segment.
Europe will continue to be the dominant region until 2021, accounting for 44.8% of the overall market revenue. The rising awareness regarding the allergic and intolerant effects of gluten and heavy merchandizing by manufacturers in grocery channels and food services are propelling the growth of the region. North America is estimated to exhibit a noteworthy CAGR of 11.4% during the forecast period.
Rising Consumer Awareness Regarding Health Benefits of Gluten Free Food to Fuel Market
Other than to avoid gluten related allergies, consumers perceive gluten free food products as a remedy to manage weight related problems. The numerous health benefits of gluten free food include improving cholesterol levels, increasing energy levels, and promoting digestive health. Therefore, the increasing consumer awareness regarding health benefits of gluten free food is one of the primary factors driving the market. Manufacturers are marketing these products as natural and organic foods, which is encouraging consumers to purchase these for health benefits.
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The rapidly growing consumption of gluten free bakery products is also augmenting the market. Manufacturers are applying new processes and new ingredients that are helping in manufacturing innovative gluten free bakery products that have similar flavor and texture as their gluten-containing counterparts.
Lack of Awareness about Celiac Diseases to Hamper Growth Prospects
Trends indicate that the majority of the people consuming gluten free diet are unaware of the symptoms of celiac disease and hence in most cases it remains untreated. The American Journal of Gastroenterology states that 1.6 million consumers in the United States are on a gluten-free diet but still they are not diagnosed with celiac disease. The awareness level is even lower in developing regions such as Asia Pacific, the Middle East and Africa, and Latin America. The lack of awareness is adversely affecting the growth of the global gluten free food market.
The above data is collated from a research report released by TMR, titled "Gluten Free Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021."
The global gluten free market is segmented as follows:
Global Gluten-free Food Market, by Product
Gluten-free bakery products
Gluten-free baby food
Gluten-free ready meals