Free from Foods Market value, Developments, Key trends & forecast till 2024
According to a recent report published by Fast.MR, titled, Free from Foods Market - By Type (Gluten Free, Egg Free, Dairy Free, Lactose Free, Allergen Free , Others), By Application (Bakery and Confectionery, Dairy-free Foods, Snacks, Beverages and Others), By Distribution Channel (Online Stores, Supermarket & Hypermarket, Convenience Stores, Other Channels) & Global Region - Market Size, Trends, Opportunity, Forecast 2018-2024, “the global free from foods market accounted for USD XX Million in 2018 and is estimated to reach USD (Digit) Million by 2024. Moreover, it is anticipated to flourish at a CAGR of (Digit)% during the forecast period i.e. 2019-2024.
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The free-from foods market is segmented in different categories including by type, by application, and by distribution channel. The market is segmented by type into gluten-free, egg-free, dairy-free, lactose-free, allergen-free, and others. Among this segment, the gluten-free segment is expected to capture lion shares of the market in 2018. Gluten-free food products with medicinal benefits are the most purchased products in recent years. Government initiatives are also encouraging the growth of this segment. For instance, Under the new European Union regulations which came into effect on January 1st, 2012, only foods that contain less than 20 parts of gluten in a million will be allowed to use the term ‘gluten-free’ on their packaging. Previously, a food labeled ‘gluten-free’ could have contained up to ten times more than this.
Moreover, based on the application, free-from foods market is further sub-segmented into bakery and confectionery, dairy-free foods, snacks, beverages, and others. Among which the bakery & confectionery segment is about to register a remarkable growth rate in upcoming years. Rapid introduction of free-from bakery and confectionery products in different markets is expected to encourage the growth of this segment in the near future.
Rising demand for Ready to Eat Foods
The on the go convenience foods or ready-to-eat food market growth is backed by several factors including changing food consumption behavior among consumers, increased willingness to spend on such food and the lack of time to cook at home. Further, many companies around the world have introduced free from types of ready to eat food products, and these products are witnessing remarkable demand across the globe.
Changing Lifestyle of Consumers
Lifestyle-choice is playing a big part in this growth. Open-minded health and wellness consumers are increasingly influencing the food industry and are redefining food culture. As shoppers, consumers are no longer compromising with food quality and are focused on real healthy food, positive nutrition, fresh, and less processed foods. The world has witnessed a growth in the pool of consumers who have been diagnosed with a food-related condition. These consumers have been strictly advised by their healthcare professionals regarding their diet and are seeking options which can help them to maintain their diet. Furthermore, rising awareness among consumers has encouraged them to live a healthier lifestyle; this rise in health awareness is acting as a significant force which is supporting the growth of free-from foods market.
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to free-from foods market, Europe is the leader in free from the food market. The Europe region has acquired significant market shares and is poised to continue its dominance in the coming years. Government support and high awareness rate have fueled the market growth in this region.
The report also covers detailed competitive analysis of major market players of the global free-from foods market, such as FEEL GOOD FOODS, Tesco PLC, Sainsbury’s, Nestlé, Enjoy Life Foods, Dr. Oetker, The Quaker Oats Company, The Safe + Fair Food Company, Dr. Schär AG, Danone, General Mills Inc. and other major & notable players.
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