Analysis of Free from Foods market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The free-from foods market is estimated to expand at a CAGR of nearly 6% during the forecast period of 2020 to 2030. The market is expected to experience a slight dip during 2020 in terms of sales. High stockpiling has led to substantial increase in sales during the 2nd quarter of 2020. Shutting down of production facilities and lockdowns due to the COVID-19 pandemic are expected to affect the production for free-from foods during the latter half of 2020.
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In terms of products, GMO-free foods account for a significant proportion of the global free-from foods market size. Increasing investments of companies towards making their portfolio plant-based and organic ingredients have been supplementing the growth of GMO-free foods. Experimental diets of consumers, such as paleo and vegan, have led to increasing in demand for GMO-free foods. GMO-free foods are expected to show significant growth of 1.7X during the forecast period.
North America is a mature free-from foods market, and accounts for one-third demand in this space. North America is expected to experience slow growth during the forecast though, while demand from South Asia & Oceania is expected to be significantly high. Players trying to increase their penetration in the market and increase the awareness of consumers regarding the benefits of allergen-free food are expected to drive the growth of the South Asia & Oceania free-from foods market.
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The free-from foods market is fragmented in nature, with the top players accounting for only one-third of the revenue share. The market is expected to head towards consolidation at a gradual pace, owing to significant investments by top players to increase their product portfolio and penetration in the market.
Companies have been increasingly investing in research & development to turn their existing product portfolios towards allergen-free ingredients. They have also been increasing their penetration with investments in collaborations with third-party retailers.
The free-from foods market has also faced the impact of the COVID-19 crisis, as demand was observed to be uptick in February till April as compared to 2019 during these months. Decreasing demand of free-from foods in 2020 can be understood under three scenarios: positive, pessimistic, and probabilistic.
Under the optimistic scenario, the global free-from foods market is expected to increase in the first and second quarter of 2020 under the COVID-19's strong impact, and demand may decrease from the third quarter onwards.
On the other hand, under the probabilistic scenario, the market is expected to remain under doldrums from the third quarter, affecting the sales of free-from foods. Under the pessimistic scenario, demand is not anticipated to gain traction until after the first quarter of 2021.
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“Free-from foods market is expected to show a slight decline during 2020, but is expected to bounce back after the recovery period of COVID-19. Investments towards increasing penetration in South East Asia are expected to create long-term returns for stakeholders in this space.”
The recent global free-from foods market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats to the expansion of the global free-from foods market. A detailed segmental analysis based on product, nature, and sales channel has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the global free-from foods market. In addition, a separate section on the market structure has also been provided. The section provides detailed analysis of key market players and their strategies for expansion in the global free-from foods market.
FactMR’s study has done the segmentation of the free-from foods market on the basis of product, nature, sales channel, and region.
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Free From Foods Market Is Anticipated To Grow At CAGR Of 6% During The Forecast Period 2020-2030
North America, Western Europe, Asia-Pacific , Japan are the major countries driving demand for Free-from Foods Market.
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