Portland, OR -- (SBWire) -- 05/16/2019 --The global Gluten-Free Products Market was valued at $3,126 million in 2015, and is projected to reach $5,279 million by 2022, growing at a CAGR of 7.5% from 2016 to 2022, according to new report published by Allied Market Research. Gluten-free bakery products segment dominated this market, occupying approximately half of the total share of the market revenue in 2015.
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The global market is expected to witness substantial growth in the near future, attributed to factors such as promotion of health and wellness, increase in demand from millennial, improvement in marketing activities, rise in awareness about celiac disease and other gluten allergies. However, price sensitivity is a factor which is projected to restrain the market growth. Increase in incidence of celiac disease is one of the driving factors of the market.
The numbers of celiac patients rise across the globe which has increased the demand of gluten-free products for their intolerance toward wheat. Moreover, rise in demand from millennial is a significant factor which is leading to the market growth. Many people seeking weight management and digestive health involve gluten-free foods in their lifestyle and help transform the market.
Top Market Players are: Pinnacle Foods, Inc., Hain Celestial Group, Inc., General Mills, Inc., Kellogg Company, The Kraft Heinz Company, Genius Foods Pvt. Ltd, Freedom Foods Group Limited, Mondelez International Inc., Wessanen and Valeo Foods Group Limited.
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The gluten-free ready meals segment is anticipated to witness the highest growth during the forecast period, owing to increase in number of working women as well significantly increase in per capita disposable incomes especially in emerging economies across the globe.
In the year 2015, the gluten-free bakery products segment occupied approximately 60% share of the overall market revenue, and is anticipated to maintain its dominance during the forecast period. This is due to increase in inclination of consumers toward healthy bakery products such as biscuits and breads as well as increase in use of packaged bakery products among working professionals across the globe.
Key Findings of the Gluten-free Products Market
- Gluten-free pasta segment is anticipated to grow at the fastest rate during the forecast period.
- Europe is estimated to continue to lead the market in terms of market share.
- Australia occupied for more than one-fifth of the total share of the Asia-Pacific gluten-free products market in 2015.
- India is estimated to grow at the highest CAGR of 8.9%, in terms of revenue.
- Gluten-free ready meals segment is expected to show a significant growth in the Asia-Pacific region.
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Gluten-Free Products Market to Be Worth of $5,279 Million by 2022 : AMR
The gluten-free ready meals segment is anticipated to witness the highest growth during the forecast period, owing to increase in number of working women as well significantly increase in per capita disposable incomes especially in emerging economies across the globe.