Gluten-free Products Market Worth $6.47 Billion by 2023

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Sep 13, 2018, 05:30 ET

PUNE, India, September 13, 2018 /PRNewswire/ --

According to the new market research report "Gluten-free Products Market by Type (Bakery Products, Snacks & RTE Products, Pizzas & Pastas, Condiments & Dressings), Distribution Channel (Conventional Stores, Specialty Stores, Drugstores & Pharmacies), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated to be valued at USD 4.48 billion in 2018 and is projected to reach USD 6.47 billion by 2023, at a CAGR of 7.6%. The market is driven by an increased diagnosis and awareness of celiac disease and other food allergies as well as health benefits associated with the adoption of special dietary lifestyles.

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Bakery products segment is estimated to be the largest in 2018

The Gluten-free Products Market, by type, is estimated to be dominated by the bakery products segment. This is mainly due to increasing preference for the bakery products, which are staple foods in North America and Europe; countries in these regions are also known to have the highest number of gluten-intolerant population in the world. However, the awareness among the general population in these regions of celiac disease and health benefits associated with the consumption of gluten-free products is high, which has translated into increasing demand for gluten-free bakery products.

Conventional stores segment is projected to be the largest & fastest growing during the forecast period

Of the various distribution channels, the conventional stores segment is projected to witness the fastest growth during the forecast period. The conventional stores segment includes various subsegments such as grocery stores, mass merchandisers, warehouse clubs, and online retailers. Conventional stores are an economical alternative and have become a popular choice for consumers who prefer gluten-free products.

Browse in-depth TOC on "Gluten-free Products Market"
92 - Tables
33 - Figures
164 - Pages

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Europe is projected to be the fastest-growing market during the forecast period

The European market is projected to grow at the highest CAGR from 2018 to 2023. Increasing incidences of celiac diseases and gluten sensitivities have led to high demand for gluten-free products in the region. Additionally, a majority of the region's populace has also been adopting gluten-free diets owing to the various health benefits associated with them, despite not being gluten-intolerant. Growing preference for gluten-free diets has widened market opportunities for numerous global gluten-free product brands to enter the region and many local patisseries, bakeries, and confectioneries brands to be able to tap into this consumer space.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers, such as The Kraft Heinz Company (US), The Hain Celestial Group, Inc. (US), Pinnacle Foods Inc. (US), General Mills, Inc. (US), and Kellogg Company (US). Some of the other market players that hold a significant share in the Gluten-free Products Market include Hero AG (Switzerland), Barilla GER Fratelli SPA (Italy), Pasia Plc (Finland), Dr. Schar AG/SPA (Italy), Farmo SPA (Italy), Freedom Foods Group Limited (Australia), Genius Foods (UK), Enjoy Life Foods (US), Norside Foods Ltd. (UK), and Warburtons (UK).

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SOURCE MarketsandMarkets