Gluten-free Bakery Premixes Market Likely To Touch At $595.53 Million By 2025: Grand View Research Inc.

 

The global gluten-free bakery premixes market size is expected to reach USD 595.53 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.24% during the forecast period. Rising awareness regarding health benefits of gluten-free products is expected drive the growth. Prevalence of Irritable Bowel Syndrome (IBS) is significantly high in developed countries. The people suffering from IBS are sensitive to gluten, which is expected to fuel the demand for gluten-free products, including bakery premixes.

The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future. The report will account for Covid19 as a key market contributor.

Countries like U.S., Germany, and U.K. are the major consumer of bakery products in the world. Moreover, increasing prevalence of Celiac disease and irritable bowel syndrome in these countries is expected fuel the product demand over the forecast period. For instance, according to the studies, around 10% to 15% population in U.S. suffer from irritable bowel syndrome.

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Consumption of bakery products is expected to witness growth in U.S. and Europe owing to the growing scarcity of animal protein sources. Moreover, consumers in the developed countries are adopting healthy lifestyle, thus driving the demand for healthy foods. As a result of growing scarcity of animal protein and increasing mineral and vitamins content in bread, the demand for bakery products is anticipated to witness a rise in near future.

Further key findings from the report suggest:

• Asia Pacific is expected to expand at a CAGR of 9.49% over the forecast period, due to the growing demand for ready-to-eat food, consumer preferences for healthy food, and changing tastes
• In India, bread held the largest market share of over 26.00% in 2018 on account of the high demand for multigrain and low-fat breads
• Bakery industry in the different regions is witnessing growth due to the high demand for gluten-free breads and hamburgers
• Manufacturers operating in the gluten-free bakery premixes market are aiming to achieve optimum business growth by implementing strategies including acquisition, joint venture, capacity expansion, new product development, promotion of key product brands, and significant investments in R&D

The average spending of the U.S. bakeries on gluten-free bakery premixes per bakeries is anticipated to increase to USD 189.99 million by 2025, wherein most of this expenditure are because of bread products, followed by hamburgers, cakes and pizza bases. Growing consumption of breads in Australia and India, is anticipated to be one of the driving factors for the growth of gluten-free premixes market during the forecast period. This scenario helps to offer growing opportunities for the gluten-free bakery premixes market in the upcoming years.

Introduction of various flavors, increasing popularity of bakery products, rising disposable income, and in South and Central America and Asia Pacific will drive the demand for cakes and hamburgers in the upcoming years. Moreover, the market for pizza bases is expected to witness growth owing to the rising number of franchise outlets in countries such as India, China, and Brazil. These factors are anticipated to contribute to the overall market growth over the forecast period. Rising popularity of multigrain and trans-fat free products coupled with demand for variety of flavor choices of also anticipated to propel the market.

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Some of major market players includes Myosin Industries Pty Ltd; Choices Gluten Free; Bakels Worldwide; Lesaffre et Compagnie, SA; Caremoli SPA; Watson, Inc.; Naturally Organic; Theodor Rietmann GmbH; and Melinda's Gluten-Free Goodies.

Grand View Research has segmented the global gluten-free bakery premixes market based on product, application, distribution, and region:

Gluten-free Bakery Premixes Product Outlook (Revenue, USD Million, 2015 - 2025)

·         Bread

·         Cake

·         Pizza Bases

·         Muffins

·         Hamburgers

·         Others

Gluten-free Bakery Premixes Application Outlook (Revenue, USD Million, 2015 - 2025)

·         Bakeries

·         Confectionery shops

·         Restaurants

·         Households

Gluten-free Bakery Premixes Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

·         Direct Sales

·         Indirect Sales

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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