The Food Intolerance Products Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Food Intolerance Products Global Market Report 2024, The food intolerance products market size has grown strongly in recent years. It will grow from $17.64 billion in 2023 to $19.05 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increased prevalence of food intolerances and sensitivities, rise in awareness and diagnosis of food allergies and intolerances, growing demand for specialized and free-from food products, need for personalized nutrition and dietary solutions, expansion of health and wellness conscious consumer base, availability of labeling and certification standards for intolerance-friendly products.
The food intolerance products market size is expected to see strong growth in the next few years. It will grow to $25.56 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to adoption of plant-based and alternative protein sources, emphasis on clean label and minimal ingredient foods for intolerance diets, research and development in novel ingredient substitutes for food allergens, demand for intolerance-friendly products in foodservice and hospitality industry, expansion of food intolerance products in global and emerging markets, growing consumer interest in functional and gut health-focused foods. Major trends in the forecast period include innovation in ingredient substitutes, focus on digestive health, nutritionally dense free-from products, low fodmap products, personalized nutrition solutions.
The rising popularity of the vegan diet is driving the growth of the food intolerance products market. A vegan diet involves only plant-based foods including fruits, vegetables, soy, legumes, nuts, and nut butter, plant-based dairy alternatives, sprouted or fermented plant foods, and whole grains. A vegan diet helps to improve digestion and health and does not cause intolerance in the body as it includes essential nutrients in the diet. As the popularity of the vegan diet grows, it will drive the market for food intolerance products. For instance, in April 2022, according to a blog published by the Food Revolution Network, a US-based online-based education organization, the plant-based dairy and meat sales were projected to increase to $162 billion by 2030. This means that plant-based meat and dairy alternatives are already making up nearly 8% of the so-called global ‘protein foods’ market.Therefore, the rising popularity of the vegan diet will drive the growth of the food intolerance products market.
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The food intolerance products market covered in this report is segmented –
1) By Product Type: Diabetic Food, Gluten-free Food, Lactose-free Food
2) By Type: Bakery Products, Confectionery Products, Dairy and Dairy Alternatives, Meat and Seafood Products, Other Types
3) By Distribution Channel: Hypermarkets/Supermarkets, Convenience Stores, Online Channels, Other Distribution Channels
Strategic partnerships and collaborations are a key trend gaining popularity in the food intolerance products market. The companies in the market are increasingly partnering with other market players to develop new products and enhance the supply of products to the market. For instance, in January 2021, a US-based food company PepsiCo, Inc., and a US-based producer of plant-based meat substitutes Beyond Meat, Inc. announced the formation of The PLANeT Partnership, LLC (TPP), a joint venture to develop, produce and market innovative snack and beverage products made from plant-based protein. This partnership will help bring new value-added dairy ingredients to the USA market.
The food intolerance products market report table of contents includes:
- Executive Summary
- Food Intolerance Products Market Characteristics
- Food Intolerance Products Market Trends And Strategies
- Food Intolerance Products Market – Macro Economic Scenario
- Global Food Intolerance Products Market Size and Growth
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- Global Food Intolerance Products Market Competitive Benchmarking
- Global Food Intolerance Products Market Competitive Dashboard
- Key Mergers And Acquisitions In The Food Intolerance Products Market
- Food Intolerance Products Market Future Outlook and Potential Analysis
- Appendix
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