The global gluten-free products market is set for substantial growth, driven by increased consumer awareness, health consciousness, and product innovation, despite challenges like high production costs and limited ingredient availability.
Growth Forecast for Gluten-Free Products Market amid Rising Consumer Awareness
Lewes, Delaware, 18 July 2024 — The global market for gluten-free products is projected to grow substantially, according to a recent report by Verified Market Research®. The market, which was valued at USD 5.26 billion in 2024, is forecast to reach USD 8.73 billion by 2031, expanding at a compound annual growth rate (CAGR) of 7.20%.
Key Drivers
Consumer Awareness: One of the primary factors driving market growth is increased awareness of celiac disease and gluten sensitivity. This has led to a higher demand for gluten-free alternatives, prompting manufacturers to innovate and expand their product lines.
Health Consciousness: The surge in health-conscious behaviour among consumers has also played a significant role. More people are adopting gluten-free diets as part of healthier lifestyle choices, broadening the market’s consumer base.
Product Innovation: Continuous innovation in gluten-free products is critical to market expansion. Manufacturers are developing a broader range of appetising gluten-free options, making these products more accessible and appealing to a larger audience.
Challenges
High Production Costs: Producing gluten-free products involves specialised ingredients and manufacturing processes, which elevate costs. These higher prices can restrict market growth by limiting affordability, particularly for price-sensitive customers.
Limited Raw Material Availability: The scarcity of essential gluten-free ingredients can disrupt supply chains and impede production capacity, further constraining market growth.
Premium Pricing: The higher costs associated with gluten-free products often result in premium pricing, which could limit market penetration in regions where consumers are highly price-sensitive.
Regional Insights
North America leads the gluten-free products market, propelled by a substantial population with gluten intolerance and high consumer awareness. The region’s market growth is also driven by significant investments and product innovation.
Europe follows closely, buoyed by rising health awareness and stringent food safety regulations. However, the market expansion could be hindered in emerging markets, such as Asia-Pacific, due to limited awareness and premium pricing.
Major Players
Key players in the market include Kraft Heinz Company, The Hain Celestial Group Inc., General Mills, Kellogg’s Company, ConAgra Brands Inc., Hero AG, Barilla G.E.R Fratelli S.P.A (Italy), Dr Schär AG/SPA, Enjoy Life Foods, Farmo S.P.A., and Quinoa Corporation. These organisations significantly influence the market through continuous innovation, investment in research and development, and strategic expansion.
Market Segmentation
Verified Market Research® has segmented the gluten-free products market based on various criteria including product types, demographics, psychographic factors, and geography. This segmentation provides a comprehensive view of market dynamics, addressing varied consumer needs and preferences.
Future Outlook
The forecasted growth in the gluten-free products market suggests significant opportunities for new and existing players. However, overcoming challenges like high production costs and limited raw material availability will be crucial. As consumer awareness and health consciousness continue to rise, the demand for diverse and affordable gluten-free options is likely to propel market growth further in the coming years.
The detailed report from Verified Market Research® encompasses extensive market data, offering valuable insights for stakeholders looking to navigate this expanding market.