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Food Intolerance Products market size was valued at $12,145.6 Million in 2020, and is projected to reach $22,654.4 Million by 2031, registering a CAGR of 5.9%
PORTLAND, OREGON, UNITED STATES, September 17, 2022 /EINPresswire.com / -- The food intolerance products market has prospered as a result of medical developments that have studied and supplied a firm understanding of various immune system responses, allowing customers to make informed selections when purchasing food items. Furthermore, increased consumer preference for labelling and ingredient claims such as 'lactose-free' and 'gluten-free' has propelled the market for these food products.
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Leading Market Players: -
Nestle S.A.
General Mills, Inc.
Abbott Laboratories
Kraft Heinz Company
Dr. Schär AG / SPA
Mead Johnson Nutrition Company
Danone S.A.
Fifty 50 Foods Corporation
Boulder Brands, Inc.
Kellogg Company
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Covid-19 Scenario
The outbreak of the Covid-19 pandemic disrupted the sales of the food & beverage industry via brick and mortar stores, which resulted in shift of consumers toward online sales channels to purchase consumer electronic products, thus driving the growth of online sales in food intolerance products industry.
The trend is going to continue in the post pandemic.
The Lactose-Free Food segment to maintain its leadership status throughout the forecast period
Based on product, the lactose-free food segment held the highest market share in 2020, accounting for more than half of the global food intolerance products market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 7.2% from 2022 to 2031. Lactose-free dairy can give the important nutrients found in traditional dairy products, such as calcium and vitamins, to persons who cannot digest lactose. This product category has a broad and growing health appeal among consumers. This benefits and consumer acceptance drives the segment in forecast period.
The Hypermarkets/Supermarkets segment to maintain its lead position during the forecast period
Based on distribution channel, the hypermarkets/supermarkets segment accounted for the largest share in 2020, contributing to nearly half of the global food intolerance products market, and is projected to maintain its lead position during the forecast period. This is due to the fact that they allow shoppers to find and purchase a diverse range of consumer items in one area. Moreover, the online channels segment is expected to portray the largest CAGR of 7.5% from 2022 to 2031. The use of social media and the expansion of digital shopping platforms around the world are attributed to the segment's growth.
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North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue in 2020, accounting for nearly half of the global food intolerance products market. Food intolerance goods are popular in this region because people are more concerned about their health, which leads to the purchase of such healthy items. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 7.1% from 2022 to 2031. This is due to rising adoption of healthy products and rising health issues in the population.
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