Gluten-Free Products Market Size, Share & Trends Analysis Report By Product (Bakery Products, Dairy/Dairy Alternatives), By Distribution Channel (Grocery Stores, Mass Merchandiser), By Region, And Segment Forecasts, 2020 - 2027
New York, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gluten-Free Products Market Size, Share & Trends Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05867105/?utm_source=GNW
The global gluten-free products market size is projected to reach USD 43.65 billion by 2027, exhibiting a CAGR of 9.2% during the forecast period. The rising prevalence of lifestyle-related diseases has favored is driving the product demand. Increasing instances of diseases, most notably chronic and non-communicable diseases leading to disability or death have bolstered the demand for gluten-free products.
Furthermore, increasing focus of food manufacturers as regards various parameters including production of food products with less saturated fat coupled with efficient labelling solutions has driven the demand for gluten-free products.Another important factor favoring market growth is the increasing incidences of Irresistible Bowel Syndrome (IBS) and celiac diseases.
U.S. is one of the major consumers of gluten-free products as on an average, one of every 133 people suffer from celiac disease, and one in every 56 people experience similar symptoms. High cases of misdiagnosis of the disease is likely to drive the product demand in the country. However, the lack of awareness about celiac disease, leading to the consumption of gluten-rich food products, may hinder the market growth.
North America accounted for the largest revenue share of 40.61% in 2019. The region is home to major food brands and companies with extensive distribution networks that provide a wide array of commodities. Consumers also have favorable perceptions about healthy gluten-free food products, which is likely to boost the market growth. The favorable regulatory framework and initiatives to promote a gluten-free diet by the U.S. Food and Drug Administration (FDA) and subsidy allocations are anticipated to boost the regional market over the forecast period.
Further key findings from the report suggest:
• In terms of product, bakery products emerged as the largest segment in 2019, registering a revenue of USD 5.64 billion. It is expected to expand at a CAGR of over 10.2% over the forecast period
• In terms of distribution, independent natural or health food store segment is anticipated to register the fastest growth over the forecast period, attributed to the rising consumer disposable incomes and awareness about organic and natural foods
• Asia Pacific is expected to witness the fastest growth over the forecast period. The market conditions are highly promising due to factors such as the increasing internet penetration, booming e-commerce market, and favorable demographics
• Australia is a growing market for gluten-free bakeries. Regulations by the Australian government favor the initialization of start-ups in the food and beverage industry
• The gluten-free products market is highly competitive with a sizable number of players sharing the market space. Some of the key competitive strategies employed by the companies include mergers and acquisitions, expansion of product portfolio, and product innovation
• Major market participants include Boulder Brands, Inc.; General Mills, Inc.; The Hain Celestial Group, Inc.; The Kraft Heinz Company; Kellogg’s Company; Hero Group AG; and Big Oz Industries Ltd.
Read the full report: https://www.reportlinker.com/p05867105/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001