Gluten Free Snacks Market to Accrue $1.8 Bn, Globally, by 2031 at 8.3% CAGR: Allied Market Research

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Oct 18, 2022, 09:30 ET

Growing awareness about gluten intolerance along with surging awareness about health consciousness among the global population will boost the growth of the global gluten free snacks market.

PORTLAND, Ore., Oct. 18, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Gluten Free Snacks Market by Product Type (Nutrition Bars, Candy Bars, Salty Snacks, Nuts, and Others), by Distribution Channel (Convenience Stores, Supermarket and Hypermarket, Specialty Stores, Drugstores and Pharmacies, E commerce, and Others), and by Generation (Millennial, Generation X, and Baby Boomers): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global gluten free snacks industry was estimated at $843.6 million in 2021, and is set to reach $1.8 billion by 2031, growing at a CAGR of 8.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, restraints, and opportunities

Growing awareness about gluten intolerance along with surging awareness about health consciousness among the global population will boost the growth of the global gluten free snacks market. Furthermore, a surge in the number of celiac patients and gluten-related allergies will create huge demand for gluten free snacks. In addition, the surging popularity of convenience diets among the millennial population will create new growth avenues for the global industry. However, huge product costs and easy availability of substitute food products such as functional foods and food supplements can put brakes on the global industry.

Covid-19 scenario:

The COVID-19 pandemic altered the food habits of consumers and this led to a huge demand for gluten-free food products including salty snacks and gluten-free nutrition bars, thereby expanding the growth of the gluten free snacks market globally during the COVID-19 pandemic.
Rise in awareness about the negative effects of gluten and disorders such as celiac favorably impacted the growth of the global market during the COVID-19 pandemic.

The salty snacks segment to dominate the global market in terms of revenue in 2031

Based on the product type, the salty snacks segment is set to contribute to the highest market share in 2021, accounting for more than one-thirds of the global gluten free snacks market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. The growth of the segment over the assessment period is attributed to growing product demand due to its taste and health benefits. However, the candy bars segment will record the fastest CAGR of 10.1% from 2022 to 2031. The growth of the segment over the forecast timeframe can be attributed to rise in demand for candy bars owing to availability of various brands of candy bars and huge popularity of small snacks.

The E Commerce segment to hold the major market share over 2022-2031

On basis of distribution channel, the supermarket and hypermarket segment contributed to the largest market share in 2021, accounting for more than two-fifths of the global gluten free snacks market share. Furthermore, the e commerce segment is anticipated to dominate the growth of the global market over the forecast period. Moreover, this same segment is slated to record the fastest CAGR of 10.6% over the assessment period. The growth of the segment over the forecast timeline is subject to surging preference of consumers towards online purchase of gluten free snacks due to its easy access and convenience.

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The millennial segment to lead the global market growth over the forecast period

In terms of generation, the millennial segment contributed to the highest market share in 2021, accounting for nearly half of the global gluten free snacks market share. Moreover, the same segment is set to make notable contributions toward the global market share in 2031. The growth of the segment over the forecast timeline can be credited to surge in demand for ready-to-eat healthy foods and easy access to healthy snacks and convenience foods among the millennial population. However, the baby boomers segment is predicted to register the fastest CAGR of 10.0% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to growing concerns among the baby boomer population about health and fitness.

Europe to retain global market domination over 2022-2031

By Region, Europe contributed notably toward the global gluten free snacks market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than two-fifths of the global gluten free snacks market share in 2021. The same region is slated to contribute significantly toward the global market size in 2031. The growth of the regional market over the anticipated timeline is owing to rise in product penetration in countries such as Germany and surging product demand from millennial population in Europe. Furthermore, the North America gluten free snacks industry is anticipated to record the highest CAGR of 10.2% over 2022-2031. The regional market growth over the projected timespan is owing to rise in intake of convenience foods in the region along with high presence of convenient snacks on shelf of retail stores.

Major market players

Freedom Foods Group Limited
General Mills, Inc.
Kellogg Company
Koninklijke Wessanen N.V.
Mondelez International Inc.
ConAgra Foods Inc.
Quinoa Corporation
The Hain Celestial Group, Inc.
The Kraft Heinz Company
Valeo Foods Group Ltd.

The report analyzes these key players in the global gluten free snacks market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.

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