Global Gluten-Free Product Market Set for Rapid Growth, to Reach $7.60 bnBy 2024
Global gluten-free product market expected to reach approximately USD 7.60 billion by 2024, growing at a CAGR of around 7.12% between 2018 and 2024. The growing number of gluten-intolerant working people globally is anticipated to spurt the gluten-free product market growth in the near future.
Sarasota, FL -- (SBWire) -- 12/07/2018 --Zion Market Research has published a new report titled "Gluten Free Product Market By Product (Bakery Products, Pasta & Pizza, Snacks & RTE Meals, Baby Food, Condiments & Dressings, and Other) and By Distribution Channel (Business To Business [Hospitality Services, Hotels & Restaurants, and Online Channel] and Business To Consumer [Supermarket/Hypermarket, Conventional Stores, Specialty Services, and Online Channel]): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2017–2024". According to the report, the global gluten-free product market was valued at around USD 4.72 Billion in 2017 and is expected to reach approximately USD 7.60 billion by 2024, growing at a CAGR of around 7.12% between 2018 and 2024.
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Gluten is the protein found in various grains, such as rye, wheat, barley etc. According to an independent survey, around 20% of consumers globally avoid certain foods due to allergies or intolerances. This provides an opportunity for many manufacturers to launch allergen-free products. Gluten intolerant population might suffer from autoimmune diseases, such as celiac. Increasing occurrences of celiac patients globally and growing awareness among the consumers regarding healthy diet and its importance is anticipated to fuel the gluten-free product market. Moreover, celiac is a genetic disorder and can be transferred from parents to their kids, which leads to the demand for gluten-free product for babies market.
Growing number of gluten-intolerant working people globally is anticipated to spurt the gluten-free product market growth in the near future. This, in turn, is likely to generate a significant demand for gluten-free snacks and RTE products. This is encouraging the major market players to invest in gluten-free products. In addition, various local brands have started manufacturing gluten-free products, such as bread, pizzas, pasta etc. Moreover, the growing millennial population and rising standards of living are anticipated to boost the gluten-free product market growth.
By product, the global gluten-free product market is classifiedinto bakery products, pasta and pizza, snacks and RTE meals, baby food, condiments and dressings, and others. The bakery products segment accounted for a substantial revenue share of the market in 2017. By distribution channel, the global gluten-free product market is segmented into business to business and business to consumer. The business to consumer distribution channel is anticipated to show a significant escalation in the near future in terms of revenue, owing to the growing popularity of convenience stores and supermarkets/hypermarkets and thriving e-commerce sector.
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In terms of revenue, Europe is anticipated to account for a significant market share in the near future. This is majorly due to the growing importance of gluten-free food products among the non-celiac population along with celiac patients. The North American gluten-free product market is anticipated to show significant growth, owing to the growing demand for gluten-free products from millennials coupled with the growing number of celiac patients in the region. The Asia Pacific is anticipated to show considerable growth in the gluten-free product market, owing to the growing number of patients suffering from celiac disease, lactose intolerance, etc. In addition, improved medical and healthcare facilities, easy detection of food allergies, and strict recommendation of gluten-free diet by doctors are anticipated to fuel the gluten-free product market in the near future. Latin American gluten-free product market is projected to show moderate growth over the forecast span, due to a continuing trend of traditional brunch in the region. The Middle East and Africa are likely to register slow growth in the gluten-free product market in the forecast timeframe.
Some of the key players of the gluten-free product market are Alara Wholefoods Ltd., Sanitarium Health & Wellbeing Company, Amy's Kitchen, Bagrrys India Ltd., Country Choice, General Mills, Kellogg's, Nestle, Nature's Path, Raisio, Uncle Tobys, Weetabix, MOMA, and Quaker Oats Company, among others.
Browse the full "Gluten-Free Product Market" report at https://www.zionmarketresearch.com/report/gluten-free-product-market
This report segments the global gluten-free product market as follows:
Global Gluten-Free Product Market: Product Category Segment Analysis
Pasta & Pizza
Snacks & RTE Meals
Condiments & Dressings
Global Gluten-Free Product Market: Distribution ChannelSegment Analysis
Business To Business
Hotels & Restaurants
Business To Consumer
Global Gluten-Free Product Market: Regional Segment Analysis
The Middle East and Africa
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