COVID-19 Outbreak to Prove Highly Lucrative for Free-from Foods Market, Infers Fact.MR
Published : 19 Aug 2020 Industry: Food & Beverage
The global free-from foods market is expected to portray a healthy CAGR, expanding at nearly 6% over the forecast period of 2020 to 2030. The COVID-19 effects on the free-from foods market have been high during the lockdown phase. Stockpiling tendencies have led to a spike in sales during the 2nd quarter of 2020. High sales of free-from foods during the 2nd quarter are expected to create a new consumer base, as more individuals are turning towards healthy food products. Owing to these factors, the free-from foods market is expected to show prominent growth after the COVID-19 crisis has been brought under control.
Key Takeaways from Free-from Foods Market Study
- North America accounts for nearly one-third share in the free-from foods market, and is expected grow 1.9X during the forecast period.
- GMO-free are expected to show highest growth in terms of product, around 1.7X during the forecast period.
- Conventional free-from foods account for a high share in the market, but organic free-from foods are expected to experience prominent growth.
- Sales through hypermarkets & supermarkets is expected to show high growth around 2X during the forecast period.
- The COVID-19 pandemic has affected all industries in some way or the other. Though business is slow at the moment, demand for free-from foods will increase over the coming years, especially from health-conscious consumers across the world.
“Investments in certifications and label claims are expected to highly benefit new entrants in the free-from foods market. This is also expected to help companies in reducing regional trade compliances,”says a Fact.MR analyst.
Innovative Product Offerings to Pave Way for Top Players
The free-from foods market has seen multiple product launches and innovations during recent years. Companies such as Nestle SA, Tate and Lyle PLC, Danone SA, and Reckitt Benckiser Group plc, among others, have been on the forefront of these innovations. Majority of companies in the free-from foods market have been increasing their portfolio with new introductions. They have also been addressing issue with allergens in their whole product portfolio. The free-from foods market is expected to experience significant increase owing to these factors during the forecast period.
Find More Valuable Insights on Free-from Foods Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global free-from foods market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges compelling insights on the free-from foods market on the basis of product (GMO-free, sugar free, dairy free, gluten free, meat free, lactose-free, and artificial ingredient-free), nature (conventional and organic), and sales channel (direct sales, hypermarkets/supermarkets, specialty stores, convenience stores, online retail, and others), across six major regions.
About The Food & Beverage Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.