PUBLISHER: Allied Market Research | PRODUCT CODE: 1365806
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365806
According to a new report published by Allied Market Research, titled, "Gluten Free Confectionary Market," The gluten free confectionary market was valued at $3.2 billion in 2022, and is estimated to reach $6.6 billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032.
The gluten-free confectionery market has witnessed an expansion of product offerings, including a variety of chocolates, candies, cookies, cakes, and other sweet treats. This increased availability and variety have attracted more consumers to the market. There are ample opportunities for innovation and product development in the gluten-free confectionery market. Manufacturers may explore new ingredients, flavors, and textures to enhance the taste and quality of gluten-free products, catering to the evolving consumer preferences.
Moreover, the increase in availability of gluten-free confectionery products in various retail channels, including supermarkets, specialty stores, and online platforms, presents significant growth opportunities. Manufacturers may leverage these channels to reach a wider consumer base and expand their market presence. In addition, the gluten-free confectionery market offers opportunities for global expansion. There is a growth in demand for gluten-free products in various regions. Manufacturers may go to new markets and diversify their customer base as awareness of gluten-related disorders spreads across the globe.
The availability of gluten-free products has significantly increased in recent years, with an expanding range of gluten-free confectionery options offered by both large-scale manufacturers and niche brands. Retailers, both offline and online, have dedicated shelf space to gluten-free products to meet the growth in consumer demand. E-commerce platforms have played a significant role in facilitating the accessibility of gluten-free confectionery products to consumers worldwide.
However, Gluten-free products, including confectionery items, often come at a higher price point compared to their gluten-containing counterparts. The cost of alternative gluten-free ingredients, specialized production processes, and certification requirements contribute to the higher pricing. This cost barrier may limit the affordability and accessibility of gluten-free confectionery for some consumers. The absence of gluten may pose challenges in achieving the desired texture and quality in gluten-free confectionery products. Manufacturers need to invest in research and development to overcome these challenges and offer gluten-free products that are on par with their gluten-containing counterparts in terms of taste and texture.
The gluten-free confectionery market is segmented on the basis of product type, price point, distribution channel, and region. On the basis of product type, the market is classified into gluten-free cookies, gluten-free cakes, gluten-free chocolates, baking mixes, and others. On the basis of price point, the market is classified into economy, mid-range, and luxury. On the basis of distribution channel, the market is classified into supermarkets/hypermarkets, convenience stores, pharmaceutical and drug stores, online sales channels, and others. On the basis of region, it is analyzed across North America (U.S., Canada, Mexico), Europe (France, Germany, Italy, Spain, UK, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey, and Rest of LAMEA).
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the gluten-free confectionery market include Bob's Red Mill Natural Foods, Inc., Pamelas Products, Simple Mills, Inc., Unreal Brands Inc., Hail Merry LLC, SmartSweets Inc., King Arthur Baking Company, Inc., MONDELEZ INTERNATIONAL, INC., The GFB: Gluten Free Bar, and Conagra Brands, Inc.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline talk to the sales executive to know more)