iCrowdNewswire Dec 31, 2020 2:00 AM ET
Global market for Gluten-Free Products is finding the growth possibilities quite handy to register an impressive CAGR for a period of 2019 to 2023 that can be considered as the forecast period for the market. Market Research Future (MRFR) has included several possible aspects of the market that can be explored in the coming years to gain better mileage.
Gluten-free products are gaining cognizance owing to the increasing health benefits it offers. This type of protein can be found in barley, wheat, and rye. But the protein has a tendency to trigger celiac diseases that would trigger diarrhea, abdominal bloating, gas, migraine headaches, vomiting, and joint pain. To stand clear of such problems, manufacturers have started launching innovative products that can serve the market in a better way. The disease is an autoimmune disorder that prohibits small intestine from digesting gluten. Better market exposure due to various retail sectors, improved promotional activities, growing awareness in various regions, and others can be taken as major market influencers.
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However, these gluten-free products are known for their high price due to which restriction in expansion for the market is quite high. These products are effective in their application as an alternative to the global market for general products. But the high price is hindering growth prospects. Meanwhile, competition among players is increasing, which can improve the pricing problem.
The global market for gluten-free products, as recorded by MRFR, is showing significant growth possibilities and this can be analyzed better when seen from close quarters. This is possible with the segmentation that has been included in the market report. These segments are type and distribution channels.
By type, the global market for gluten-free products can be segmented into bakery & confectionery, prepared foods, dairy & frozen desserts, beverages, meat products, and others. The bakery & confectionery segment is finding the path easier towards growth and its projected CAGR of 9.91% can touch the global valuation for the year 2023.
By distribution channel, the global market for gluten-free products includes store-based and non-store based. The store-based segment has better growth opportunities and it can touch a CAGR of 9.23% between 2017 and 2023.
Major players in impacting the global gluten-free products market with strategic innovations are The Hain Celestial Group, Inc. (U.S.), Boulder Brands, Inc. (U.S.), General Mills, Inc. (U.S.), The Kraft Heinz Company (U.S.), Kellogg Company (U.S.), Mondelez International, Inc. (U.S.), Hero Group AG (Switzerland), Freedom Foods Group Ltd. (Australia), and others. These companies have been tracked and followed by MRFR to understand the latest trends that can impact the global market transformations. These companies are known for their extensive contributions in the global market using mergers, acquisitions, and other methods as their major tactical tools.
In October 2019, London Food Corporation announced that they have taken over Big Oz Industries. The latter is known for its gluten-free product setup and is a notable name in the market.
The global market for gluten-free products is expecting strong thrust from countries fro the North American region owing to their high expenditure capacity, better innovation, investment in research and development projects, a significant contribution from investors, improved product awareness, and others. The regional market has the potential to retain its strength during the forecast period with countries like the US and Canada contributing the most. The regional market can touch an estimated valuation of around USD 3,903.29 million by 2023. The European region is also in a position to gain from similar features where countries like France, Germany, Spain, the U.K, Italy, and others can achieve a moderate CAGR of 9.84% during the forecast period. These regions are known for their extensive market contribution. The Asia Pacific region can maintain a strong rise as these products are winning rapid strong recognition from consumers.
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Keywords: Gluten-Free Products Market, Gluten-Free Products Market Size, Gluten-Free Products Industry, Gluten-Free Products Market Share, Gluten-Free Products Market Growth, Gluten-Free Products Market Trends