—
Gluten-Free Products Market by Type (Gluten-free Baby Food, Gluten-free Pasta, Gluten-free Bakery Products, and Gluten-free Ready Meals) and Distribution Channel (Convenience Stores, Specialty Stores, Drugstore & Pharmacy, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027."According to the report, the global gluten-free products industry was estimated at $4.3 billion in 2019, and is anticipated to hit $7.5 billion by 2027, registering a CAGR of 7.2% from 2020 to 2027.
Increase in incidences of celiac disease and gluten intolerance, rise in demand from millennial, surge in marketing activities, improvement in distribution channels, and upswing in the number of health conscious as well as beauty conscious consumers fuel the growth of the global gluten-free products market. On the other hand, misconception about gluten-free diet and high pricing of gluten-free products impede the growth to certain extent. However, increase in investments by several manufacturing companies is expected to create multiple opportunities in the near future.
Download Sample Copy Of Report@ https://www.alliedmarketresearch.com/request-sample/1810
COVID-19 scenario-
With the outbreak of this pandemic, people have become more sentient about adhering to healthy food habits which has increased the demand for gluten-free products worldwide.
At the same time, there is a steep decline in investments by small and medium-sized food manufacturing companies which has impacted the global gluten-free products market adversely.
However, governments are taking necessary steps to avert disruptions to food supply chains.
On the basis of type, the gluten-free bakery products has been the most preferred gluten-free products among consumers, due to increase in demand from celiac patients as people with celiac disease also want to enjoy bakery products such as cakes, rolls buns, and pizzas. Thus, the gluten-free bakery products segment was valued at $2.5 billion, and is expected to grow with a CAGR of 6.7% from 2020 to 2027, to reach $4.2 billion by 2027. However, the gluten-free baby food segment is expected to grow at the highest rate during the forecast period. This is attributed to surge in demand for gluten-free baby food products for those babies who are suffering from celiac diseases and gluten intolerance.
On the basis of distribution channel, the convenience stores segment is dominating the market, which accounts for 42% of the share in global gluten-free products market in 2019 and is expected to retain its dominance throughout the forecast period. Convenience stores are most preferred for purchasing the gluten-free products in bulk volumes. Hence, significant presence of chained and independent convenience stores in the developed countries and rise in penetration of specialty stores in developing countries lead to higher share in the market. Due to the hectic schedule and surge in inclination of the consumer toward convenient lifestyle, they prefer purchasing the gluten-free products through drugstores & pharmacies channels, which also provides online delivery. This is anticipated to boost the growth of the drugstores & pharmacies segment in the global gluten-free products market for the period under consideration.
Based on region, Europe generated the highest share in 2019, holding nearly half of the global gluten-free products market. This is due to increase in demand from millennial and surge in the efforts of several ventures to launch new gluten-free products in Europe. Simultaneously, North America would register the fastest CAGR of 9.5% by 2027. This is attributed to rise in number of health-conscious and fitness enthusiasts in the region.
Leading market players analyzed in the research include ConAgra food Inc., General Mills, Inc., Hain Celestial Group, Inc., The Kraft Heinz Company, Kellogg Company, Mondelez International Inc., Freedom Foods Group Limited, Quinoa Corporation, Koninklijke Wessanen N.V., and Valeo Foods Group Limited.
Access Full Report Summary: https://www.alliedmarketresearch.com/gluten-free-products-market
Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Phone: 1-800-792-5285
Website: https://www.alliedmarketresearch.com/
Release ID: 89030648
Google
RSS