Gluten-free confectionery market projected to rise to $6.6 billion by 2032
A key increase for the gluten free confectionery sector has been projected, attaining $3.2 billion in revenues in 2022, with the segment expected to double within the next decade to $6.6 billion, according to analysis from Allied Market Research, reports Neill Barston.
According to the group’s latest figures, CAGR growth in the category is forecast to increase at a notable rate of 7.6%, amid a considerable rise in consumers demanding additional dietary requirements beyond conventional product ranges.
Significantly, as the the research group noted, 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.
In terms of product series, gluten-free chocolate emerged as the most in-demand category, with the research noting that the increase was down to several core factors, with health-requirements being perhaps the main driver of the trend. Significantly, Europe has continued to dominate the segment in terms of sales, with the market being relatively mature for the category.
However, the LAMEA region (Latin America and Middle East), is also expected to witness the fastest CAGR of 9.2% from 2023 to 2032. This, according to the company, is due to the introduction of appealing packaging and new flavours combined with campaigns through social events and networks are the key strategies adopted by manufacturers.
As the report acknowledged, 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.
While the segment has shown significant potential for growth in the group’s forecast period until 2032, it also noted challenges ahead. It observed 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.