Food Intolerance Products Market On Position to Reach $22,654.4 Million by 2031

iCrowd Newswire
13 May 2022, 01:20 GMT+10

Food Intolerance Products Market by Product Type (Diabetic Food, Gluten Free Food, Lactose Free Food, Other Special Milk Formula), by Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Channels, Others), and Region: Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global food intolerance products market size was valued at $12,145.6 Million in 2020, and is projected to reach $22,654.4 Million by 2031, registering a CAGR of 5.9% from 2022 to 2031.

Rise in prevalence of celiac disease and lactose intolerance among the general population, and increased health consciousness and widespread adoption of vegan, gluten-free, & lactose-free food products drive the growth of the global food intolerance products market. However, high cost hinders the market growth. On the other hand, rise in urbanization, active promotional activities by product manufacturers, and the continuous introduction of products with aesthetically appealing packaging solutions present new opportunities in the coming years.

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Covid-19 Scenario

The outbreak of the Covid-19 pandemic disrupted the sales of the food & beverage industry via brick and mortar stores, which resulted in shift of consumers toward online sales channels to purchase consumer electronic products, thus driving the growth of online sales in food intolerance products industry. The trend is going to continue in the post pandemic.

Based on product, the lactose-free food segment held the highest market share in 2020, accounting for more than half of the global food intolerance products market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 7.2% from 2022 to 2031. Lactose-free dairy can give the important nutrients found in traditional dairy products, such as calcium and vitamins, to persons who cannot digest lactose. This product category has a broad and growing health appeal among consumers. This benefits and consumer acceptance drives the segment in forecast period.

Based on distribution channel, the hypermarkets/supermarkets segment accounted for the largest share in 2020, contributing to nearly half of the global food intolerance products market, and is projected to maintain its lead position during the forecast period. This is due to the fact that they allow shoppers to find and purchase a diverse range of consumer items in one area. Moreover, the online channels segment is expected to portray the largest CAGR of 7.5% from 2022 to 2031. The use of social media and the expansion of digital shopping platforms around the world are attributed to the segment's growth.

Based on region, North America held the highest market share in terms of revenue in 2020, accounting for nearly half of the global food intolerance products market. Food intolerance goods are popular in this region because people are more concerned about their health, which leads to the purchase of such healthy items. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 7.1% from 2022 to 2031. This is due to rising adoption of healthy products and rising health issues in the population.

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The key players in the market are Nestle S.A., General Mills, Inc., Abbott Laboratories, Kraft Heinz Company, Dr. Schär AG / SPA, Mead Johnson Nutrition Company, Danone S.A., Fifty 50 Foods Corporation, Boulder Brands, Inc., and Kellogg Company.

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