The Gluten-free Products Market To Record the Fastest Growth in Europe Region

Posted on 2020-09-04 by MarketsandMarkets in Internet & Online // 0 Comments

The gluten-free products market is estimated to be valued at USD 4.48 billion in 2018 and is projected to reach USD 6.47 billion by 2023, at a CAGR of 7.6% during the forecast period. The market is driven by the rising awareness about the diagnosis of celiac disease and food intolerances among consumers.

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Bakery and confectionery products are considered staple foods in various countries of Europe. Increasing consumption of bakery and confectionery products in the region have encouraged retail outlets to accommodate shelves with innovative products that are low-fat, gluten-free, and health-enriching. Also, a major section of the population in Europe is gluten-intolerant, due to which preference for gluten-free products remains high. On account of these factors, Europe is projected to record the fastest growth in the market during the forecast period.

Leading players operating in the gluten-free products market include The Hain Celestial Group, Inc. (US), The Kraft Heinz Company (US), Pinnacle Foods Inc. (US), Kellogg Company (US), and General Mills, Inc. (US). Key players in this market are adopting strategies such as mergers & acquisitions, new product launches, partnerships, and expansions to expand their customer base.

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All in all, the gluten-free products market is projected to record significant growth during the forecast period. Increasing consumption of bakery and confectionery products in regions such as North America and Europe has encouraged manufacturers to invest in gluten-free ingredients to align with the diverse preferences and health requirements of consumers.

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