Gluten-Free Products Market worth $6,206.2 Million Growing at a CAGR of 10.2% by 2018 - A Report by MarketsandMarkets
(PRWEB) May 25, 2014
The report "Gluten-Free Products Market By Type (Bakery & Confectionery, Snacks, Breakfast Cereals, Baking Mixes & Flour, Meat & Poultry Products), Sales Channel (Natural & Conventional) & Geography -- Global Trends & Forecasts To 2018" defines and segments the global gluten-free product market with analysis and forecasting of the global revenue and volume for gluten-free products. It also identifies the driving and restraining factors for the global gluten-free product market with an analysis of trends, opportunities, burning issues, winning imperatives, and challenges. The market is segmented and revenue is forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW).
Coeliac disease is an autoimmune disorder triggered by the consumption of gluten that leads to extensive damage in the small intestine of genetically susceptible people. There is no medication available except a gluten-free diet for this disorder. The increasing number of celiac patients, gluten intolerants and health conscious people has increased the demand for gluten-free products. The gluten-free products market is experiencing a double-digit growth.
The most important factor behind buying more gluten-free food products is that they are considered healthier than conventional products. Other important factors are growing retail presence and continual improvements in new gluten-free products development. One of the major restraints of the gluten-free products market is a lack of awareness. Many consumers do not know the difference between an allergy and intolerance. Furthermore, many consumers are either misdiagnosed or undiagnosed entirely for the coeliac disease.
The global gluten-free product market is projected to reach a value of $6,206.2 million, growing at a CAGR of 10.2% by 2018. Gluten-free bakery and confectionery products accounted for the largest volume share of about 46%, followed by gluten-free snacks that contributed about 20% in the gluten-free product market. North America contributed to about 59% share in the global gluten-free product market. Highest consumption of gluten-free product in the global market was through conventional sales channels. Chain stores have become a preferred retail channel for gluten-free products, and there has been growth in the sales and assortment carried by the supermarkets and mass merchandisers.
The demand for new products and a variety of gluten-free products is increasing in the market. The existing companies are actively introducing new products with different ingredients and flavors, thereby understanding the needs of their consumers. Developments in the global gluten-free products market have been growing globally, but it has been growing at a higher pace in North America and Europe. Companies such as The Hain celestial Inc. (U.S.), General Mills Inc. (U.S.), Dr. Schar (Italy), Amys Kitchen Inc. (U.S.), and Boulders Brand Inc. (U.S), are involved in market dynamics.
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