Gluten Free Food Market worth over USD 12.5 Billion by 2024

Gluten Free Food Market is set to grow from its current market value of more than USD 6.5 billion to over USD 12.5 billion by 2024; according to a new research report by Global Market Insights, Inc.

The global gluten free food market has gained remarkable momentum from the fast changing lifestyles and increased consciousness regarding the availability of healthier food options provided by the food and beverages industry.  While people are realizing that a gluten free diet results in better living, for people suffering from celiac disease or gluten allergies these food options present a solution to sustain their life. An upsurge in consumer spending across the globe has enabled food companies to delve into the research and development of bakery, snacks and packaged products made without gluten, giving an impulsion to the gluten free food industry. Rising popularity of products made from millet, rice and quinoa to substitute wheat or barley-based food has also outlined the industry penetration. With worldwide revenue surpassing USD 6.5 billion in 2017, the gluten free food market is poised to witness a higher consumption rate over the next few years.

Extensive health benefits of gluten free food have been observed to overcome various disorders, especially for people having celiac disease, which is an autoimmune disorder that restricts the processing of proteins present in gluten food. It was estimated that in North America, 1 in every 133 people have celiac disease and in about 5% to 10% of the cases people remain undiagnosed, as sometimes the symptoms do not manifest themselves. People adopting a gluten free diet also experience increased energy, while proven advantages for autism patients has further propagated the gluten free food market. An incidence demonstrated that a child, suffering from severe autism where he could not even speak, was once put on a gluten free and casein free diet. He showed incredible improvements in response to the diet and, albeit untreatable behavioral issues, could then speak and act like any other child not having autism.

The obvious significance of a controlled gluten free diet has invigorated the gluten free food market with a renewed dynamism, making packaged and ready to eat gluten free meals available in a vast number of conventional stores and restaurants throughout North America. Consumers are seen buying healthy meals regardless of their economic circumstances if they aim to say in good shape, and the growing shelf space in convenience stores has allowed the influx of new food products. The National Association of Convenience Stores (NACS) in the U.S. had reported that by 31 December 2017 the number of convenience stores in the country had increased to reach a record figure of 154,958. Besides, other conventional stores such as grocery and drug stores also increasingly offer packaged food, which is indicative of a promising income source for the gluten free food industry.

According to the NACS, the total number of drug stores in the U.S. were 43,169 by the end of 2017, with store owners focusing more on innovative products and customer satisfaction, giving opportunities to businesses in the ready meals segment. Club stores where members enjoy different offers on food products are also contributing notably towards the gluten free food market, Walmart owned Sam’s Club being a prominent example. The chain has almost 600 clubs in the U.S. and Puerto Rico and had reported earnings of USD 59 billion for the financial year ending 31 January 2018. The company provides consumers with options like gluten free bread, cakes snacks box and several ready meals to keep up with the outpour of demand for health-friendly food. Overall, the USD 378 billion U.S. food industry has played an exceptional role in pushing the gluten free food market expansion by bringing in enhanced meal versions of classic North American recipes.

To elaborate, Texas company Cece’s Veggie Co. had recently re-created the macaroni and cheese made with pasta in a product which gluten free and organic, demonstrating the steps toward a healthier future taken by the ready meals segment. Kidfresh from New York has also expanded its frozen meals line by added gluten free food such as mac and cheeses or ham and cheese burritos while TH Foods Inc. has launched gluten free crisps and crackers which are made out of vegetables and cheese. Portions Canada sells No Gluten meals and food ingredients to cater to the growing consumer base in the country. Depicting how the gluten free food industry is reaching consumers through distinct product types, the gluten free ready meal segment is expected to earn over USD 1.5 billion in remuneration by 2024.

With the presence of major brands that produce gluten free products such as meals, cakes, breads and cereals, the North America gluten free food market is expected to record a 9.5% CAGR from 2018 to 2024. Kellogg’s, General Mills and Boulder Brands are some key players in the region responsible for promoting the gluten free food industry to millions of conventional store customers and provide effective solutions for maintaining a light and healthy diet.

Source: – https://www.gminsights.com/industry-analysis/gluten-free-food-market