Gluten-free Products Market Projected To Display A Robust Growth With a CAGR of 7.2% by 2027

iCrowd Newswire
13 May 2022, 00:18 GMT+10

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.

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Based on type, the gluten-free bakery products contributed to nearly three-fifths of the global gluten-free products market share in 2019, and is expected to lead the trail by the end of 2027. Increase in demand from celiac patients who want to enjoy bakery products such as cakes, rolls buns, and pizzas boosts the segment growth. The gluten-free baby food segment, on the other hand, would portray the fastest CAGR of 10.5% throughout the forecast period. Babies with celiac disease and gluten intolerance can exhibit symptoms such as inactivity in physical growth, skin rash, and foul-smelling stools. This factor has propelled the growth of the segment.

Based on distribution channel, the convenience stores segment accounted for more than two-fifths of the global gluten-free products market revenue in 2019, and is expected to rule the roost till 2027. Attractive display and low price of gluten-free products in the hypermarket fuel the growth of the segment. At the same time, the drugstores & pharmacies segment would manifest the fastest CAGR of 8.1% during the study period, owing to increase in the number of pharmacies across the world. Also, the fact that the gluten-free products available in drugstores & pharmacies help improve cholesterol levels and promote digestive health drive the segment growth.

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.

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.

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Tags: Gluten Free Products Market, Gluten-Free Products Market Size, Gluten-Free Products Market Share