Gluten-Free Confectionary Market to Reach $6.6 Billion, Globally, by 2032 at 7.6% CAGR: Allied Market Research

The global gluten-free confectionary market growth is driven by increasing awareness and diagnosis of gluten-related disorders, expansion of Product offerings and innovation, and influence of health and wellness trends.

PORTLAND, Ore., Nov. 5, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Gluten Free Confectionary Market By Distribution Channel Product Type (Gluten-Free Cookies, Gluten-Free Cakes, Gluten-Free Chocolates, Baking Mixes, Others), By Price Point (Economy, Mid-Range, Luxury), By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical And Drug Stores, Online Sales Channel, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global gluten-free confectionary industry generated $3.2 billion in 2022 and is anticipated to generate $6.6 billion by 2032, witnessing a CAGR of 7.6% from 2023 to 2032.

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Gluten-free confectionary is a type of food product that is made without the protein gluten. This protein is typically found in the form of wheat, barley, or rye, and is used in a variety of sweet treats and desserts. These products are designed to be safe for those with celiac disease or gluten intolerance, as they are made with alternative flour and non-gluten-containing ingredients, allowing them to be enjoyed by those who adhere to a gluten-free dietary plan.

Prime Determinants of Growth:

The global gluten-free confectionary market growth is driven by increasing awareness and diagnosis of gluten-related disorders, expansion of Product offerings and innovation, and influence of health and wellness trends. Moreover, the elevated cost of gluten-free ingredients and the requirement for dedicated manufacturing facilities may hinder the growth of the market. Nevertheless, strategic collaboration, partnerships, product diversification, as well as education and consumer engagement offer new opportunities in the coming years.

Report Coverage & Details:

The gluten-free chocolates segment to maintain its leadership status throughout the forecast period-

Based on product type, the gluten-free chocolates segment held the highest market share in 2022, accounting for more than half of the global gluten-free confectionary market revenue, and is estimated to maintain its leadership status throughout the forecast period. The adoption of gluten-free diets by individuals without diagnosed gluten-related disorders is a significant driver. However, the others segment is projected to manifest the highest CAGR of 9.4% from 2023 to 2032.

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The economy segment to maintain its leadership status throughout the forecast period-

Based on price point, the economy segment held the highest market share in 2022, accounting for more than two-fifths of the global gluten-free confectionary market revenue, and is estimated to maintain its leadership status throughout the forecast period. In most markets, value is a trending topic. For instance, in the U.S., roughly 79% of gluten-free confectionery consumers look for an economical value when choosing chocolates. In countries with growing economies, the value factor plays a crucial role. On the other hand, the luxury segment is projected to manifest the highest CAGR of 8.6% from 2023 to 2032. Luxury brands are intended to have symbolic and experiential benefits in terms of prestige and social status. The ingredients used in luxury confections are of premium quality and naturally sourced.

The supermarket/hypermarket segment to maintain its lion's share during the forecast period.

Based on distribution channel, the supermarket/hypermarket segment held the major market share in 2022, accounting for more than two-fifths of the global gluten-free confectionary market revenue, and is projected to maintain its lion's share during the forecast period. The growth of the supermarket/hypermarket segment in the gluten-free confectionery market is attributed to an increase in the adoption of supermarkets/hypermarkets in both mature and emerging markets. Furthermore, the online sales channel segment would showcase the highest CAGR of 9.1% from 2023 to 2032.

Europe to maintain its dominance by 2032-

Based on region, Europe held the highest market share in 2022, contributing to nearly half of the global gluten-free confectionary market revenue, and is expected to maintain its dominance during the forecast period. There is a rise in demand for gluten-free confectionery products in European countries due to several factors, supported by facts and trends. Also, there is a growth in the prevalence of gluten-related disorders, such as celiac disease, in the region. However, the LAMEA region is also expected to witness the fastest CAGR of 9.2% from 2023 to 2032. This is due to the introduction of appealing packaging and new flavors combined with campaigns through social events and networks are the key strategies adopted by manufacturers in this region.

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Leading Market Players: -

·  Unreal Brands Inc.

·  Hail Merry LLC

·  King Arthur Baking Company, Inc.

·  The GFB

·  Bob's Red Mill Natural Foods, Inc.

·  MONDELEZ INTERNATIONAL, INC.

·  Pamelas Products

·  Conagra Brands, Inc.       

·  SmartSweets Inc.

·  Simple Mills, Inc.

The report provides a comprehensive analysis of these key players in the global Gluten-Free Confectionary Market. These players have adopted different strategies such as new Distribution Channel launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, Distribution Channel portfolio, and strategic moves of market players to showcase the competitive scenario.

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