The global market for gluten free products is characterized by the brilliance of the leading market who collectively hold almost half of the total market share. These players are expected to invest in effective marketing strategies in order to retain their wellness in the market and counter threats from the smaller market players. In 2014, the top market players viz. Boulder Brands Inc., DrSchär AG/SpA, Mrs Crimble’s, and Genius Foods Ltd held 49.6% of the total market share in 2014. Although a large number of medium-sized and small market players exist in the market, it is difficult to challenge the footholds of the aforementioned players. Since the market is closely aligned with the food industry, the market players are working towards understanding the food habits and preferences of the people. To gain strategic advantages over the competitors, the leading market players are projected to partner with food supply chains and retail outlets. Moreover, capturing a wider geographical area is also expected to be an integral strategy for the leading market. The acquisition of defunct local players is anticipated to come in handy for the top market players as they aim to expand their geographical reach. Some of the key vendors identified in the global market for gluten free foods are Hain Celestial Group Inc., Genius Foods Ltd., and Freedom Foods Group Ltd. These companies are projected to expand their product portfolio to cater to the tastes and preferences of all the consumers.
A report published by TMR predicts that the global market for gluten free foods would expand at a sturdy CAGR of 7.70% over the period ranging from 2015 to 2021. The report finds that the global market accumulated revenues worth US$2.84 bn in 2014 and this figure is expected to increase to S$4.8 bn by 2021-end.
Health Consciousness amongst Consumers to Bolster Demand
Owing to the concerted efforts of healthcare units, health awareness campaigns, and easy access to information, people have become inclined towards consuming healthy foods. Gluten-free food serves a variety of health benefits such as lowering cholesterol levels in the body, and this is expected to create tremendous demand within the global market. Furthermore, gluten free food is less fattening, and hence, it is recommended for individuals who want to lose weight or cut down fats. Besides this, gluten free food is extremely useful for people suffering from digestive disorders. Owing to the aforementioned factors, it is safe to project that the global market for gluten free food would trace an upward graph of growth over the coming years.
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Multiple Selling Channels to Expand Market
The availability of gluten free food across a wide range of channels has facilitated the growth of the global market. Until a decade, only a selected retail outlets and stores sold gluten free food due to its scanty demand. However, in recent times, owing to the emergence of several distribution channels and extended contacts of the manufacturers, gluten free food is easily available across local stores, groceries, and other points of sale.