Gluten free food has created a new revenue stream in the food and beverage industry. Known to have the ability to lower cholesterol levels, ease digestive issues, and less fattenin...
Gluten-free diet is also associated with weight management and overall health, further driving its demand. These factors, coupled with the rapid change in consumer lifestyle, are anticipated to push the global gluten-free food market to expand at a steady pace over the coming years. These market drivers are expected to create an opportunity worth reach USD4.8 bn by the end of 2021 from USD2.84 bn in 2014. The market is expected to expand at a CAGR of 7.7 percent between 2015 and 2021. The product innovation brought in by bakers by selling gluten free items that taste and look the same as non-gluten free products are also augmenting the overall market. Thus, the growing demand for gluten free bakery products is expected to make a generous contribution to the revenues of the overall gluten free food market. As of 2014, North America accounted for a 23.2 percent share of the overall market. This share will continue to increase at a swift pace as this regional market is expected to rise at a CAGR of 11.4 percent from 2015 to 2021. The unprecedented growth of the gluten free food in North America will be due to the burgeoning demand for gluten free bakery items amongst the weight-conscious consumers. Furthermore, the higher level of awareness about benefits of gluten free food amongst overall consumers as compared other region will also propel this market in the near future. The high cases of celiac disease registered in the U.S. will be yet another factor responsible for the rise of this market in North America. Citing this health concern, the U.S. Food and Drug Administration (FDA) has set parameters for food that will be labeled as gluten free to avert the chances of consumers being misled by information printed on food packets. Out of all the products available in the global gluten free food market, the bakery products segment is expected to witness a robust growth pattern. The dependency on bakery items and a wide range of bakery items available through a sprawling network of retailers will be responsible for the rise of this segment. The gluten free bakery segment is expected to progress at a CAGR of 8.5 percent during the forecast period (2015-2021). Furthermore, the growing number of diabetics who also prefer gluten free food items due their long-term health benefits will also be crucial to the momentum this segment will pick in near future. Companies are focusing on expanding into fresh food verticals to appeal to a wider audience in the coming years. Furthermore, players will also have to ensure utmost food safety to earn improved brand value in the near future.