Gluten-free Products Market to Reach $7.5 Bn, Globally, by 2027 at 7.2% CAGR Allied Market Research
Increase in incidences of celiac disease and gluten intolerance, rise in demand from millennial, surge in marketing activities, improvement in distribution channels, and upswing in the number of health conscious as well as beauty conscious consumers fuel the growth of the global gluten-free products market
PORTLAND, Oregon, May 19, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Gluten-Free Products Market by Type (Gluten-free Baby Food, Gluten-free Pasta, Gluten-free Bakery Products, and Gluten-free Ready Meals) and Distribution Channel (Convenience Stores, Specialty Stores, Drugstore & Pharmacy, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027."According to the report, the global gluten-free products industry was estimated at $4.3 billion in 2019, and is anticipated to hit $7.5 billion by 2027, registering a CAGR of 7.2% from 2020 to 2027.
Drivers, restraints, and opportunities-
Increase in incidences of celiac disease and gluten intolerance, rise in demand from millennial, surge in marketing activities, improvement in distribution channels, and upswing in the number of health conscious as well as beauty conscious consumers fuel the growth of the global gluten-free products market. On the other hand, misconception about gluten-free diet and high pricing of gluten-free products impede the growth to certain extent. However, increase in investments by several manufacturing companies is expected to create multiple opportunities in the near future.
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- With the outbreak of this pandemic, people have become more sentient about adhering to healthy food habits which has increased the demand for gluten-free products worldwide.
- At the same time, there is a steep decline in investments by small and medium-sized food manufacturing companies which has impacted the global gluten-free products market adversely.
- However, governments are taking necessary steps to avert disruptions to food supply chains.
The gluten-free bakery products segment to dominate by 2027-