Transparency Market Research (TMR) has announced the addition of a new market study - "Gluten Free Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021".
TMR launches gluten-free research
Transparency Market Research (TMR) has announced the addition of a new market study on the global gluten-free food products market. The report is titled "Gluten Free Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021." According to the report, in terms of revenue, the global gluten-free market, which was valued at US$2.84bn in 2014 is projected to reach US$4.89bn by 2021, expanding at a 7.7% CAGR from 2015 to 2021.
The gluten-free products market is, it says, driven by the rising number of celiac disease patients and the rising prevalence of non-celiac disease gluten sensitivity among people. Growing consumer awareness about the health benefits of gluten-free food is driving the market. Rising efforts for weight management among people across the globe are driving the gluten-free food products market. The high demand for gluten-free bakery products is also encouraging the market's growth. On the other hand, lack of awareness regarding celiac disease is a huge challenge, which is restraining the growth of the gluten-free products market. However, the focus of key gluten-free food product manufacturers on the fresh food industry will open new opportunities of growth in the market.
The gluten-free food products market is segmented on the basis of product and geography. The types of gluten-free products available are: Baby food, pasta, bakery products, and ready meals. Of these, the gluten-free bakery products segment held the largest share in the market in terms of both volume and value, in 2014. The dominance of the gluten-free bakery products segment is expected to continue throughout the forecast period. The growth is due to rising consumption of gluten-free biscuits and the shift of investment from the specialty diabetic sector to gluten-free bakery products by manufacturers.
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, andLatin America. In 2014, Europe dominated the gluten-free food products market and represented a share of 52.5%. North America is expected to be the fastest growing regional market by 2021, on account of the positive consumer response to a gluten-free diet and the rising number of people suffering from celiac disease.
In terms of product type, the global gluten free food market has been segmented into gluten free bakery products, gluten free baby food, gluten free pasta and gluten free ready meals. Gluten free bakery products held the largest revenue market share in 2014. Gluten free bakery products includes bread, biscuits, cakes, donuts, pies, muffins, and pastries among others. Increase in consumption of gluten free biscuits worldwide is acting as a driving factor in the growth of the gluten free bakery products market. In addition, increasing awareness about gluten free bakery products enables manufacturers to shift focus from the specialty diabetic sector and invest in gluten free bakery products. For example, Boulder Brands (formerly known as Smart Balance), acquired Glutino in 2011 followed by Udi's in 2012 to add gluten free bakery products in its product portfolio. Among all other product types, gluten free bakery products held the largest market share both in terms of value and volume and is expected to maintain its dominance during the forecast period.
The report profiles the leading players in the market and studies their performance, on the basis of financial overview, recent developments, and other market dynamics. The key strategies adopted by the companies are also stated.