Global Gluten-free Food Market to be Worth USD 6.47 Bn by 2023
According to a new Research on Global Markets report, the global gluten-free food market is expected to be worth approximately USD 6.47 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 7.60% during the 2018-2023 period. Gluten consumption is a matter of serious concern owing to the increasing prevalence of celiac disease and gluten-related allergies. With celiac disease predicted to grow exponentially in the next 15 years, the demand for gluten-free food is expected to increase considerably in the foreseeable future.
The global gluten-free food market is segmented based on product type and distribution channel. Based on products, there are seven types of gluten-free food, including bakery food, dairy items, meat and its substitutes, pasta, condiments, spices and spreads, desserts and ice creams, and ready-to-eat meals. The gluten-free bakery food segment held the largest share of the market (29%) in 2018, and is expected to expand at a CAGR of 8.5% during the forecasted period.
In terms of distribution channel, conventional stores, specialty stores, and drug stores are the most common distribution channels for gluten-free food. Among these, conventional stores held the highest market share (83%) in 2018, given their ease of accessibility, according to Research on Global Markets.
Research on Global Markets tracks the performance of the global gluten-free food market across the key geographies of North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. North America held the largest share (53%) of the global gluten-free market in 2018, driven by an increasing number of patients diagnosed with celiac disease. However, Europe is poised to witness the highest CAGR (10.3%) during the forecasted period, owing to a gradual shift in consumers’ preference towards gluten-free diets.
Key highlights of this report:
- Global market overview – historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and market attractiveness analysis
- Qualitative analysis of the drivers and challenges affecting the global market
- Major trends in the global gluten-free food market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Market segmentation based on product type (bakery food, dairy items, meat and its substitutes, desserts and ice cream, condiments, spices and spreads, pasta, and ready-to-eat meals) - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
- Market segmentation based on distribution channel (conventional stores, specialty stores, and drug stores) - historical (2016-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
- Market segmentation based on region (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for gluten-free food across the world to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.