Gluten-Free Baking Mixes Market Opportunities and Challenges

The global gluten-free baking mixes market size was valued at USD 391.1 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028.

The global Gluten-Free Baking Mixes Market size is anticipated to reach USD 698.2 million by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.5% from 2021 to 2028. The increasing prevalence of gluten sensitivity, food allergies, and other disorders are driving the demand for gluten-free products, including baking mixes.

In terms of product, the cookies segment dominated the market and accounted for a significant share of global revenue in 2020. This growth is attributed to the high demand for flavored cookies in countries, such as the U.S., Germany, China, Japan, and the U.K. Market players are capitalizing on the popularity of new flavors in cookies by launching variants, such as Oreo and red velvet, in innovative packaging. Moreover, cookies are popular snacks among people of all age groups.

In terms of distribution channels, grocery stores emerged as the largest segment in 2020 due to a high number of grocery stores worldwide. With rising income levels and rapid urbanization, modern supermarkets have emerged across all big and small economies. These stores offer extensive product variety, discounts, and even change their layouts to appeal to new consumers and maintain their market share.

Asia Pacific is anticipated to emerge as the most lucrative regional market in the foreseeable future due to the rising demand for healthy food items and the increasing adoption of a healthy lifestyle among consumers in China, Australia, Japan, and India. The rising consumer awareness about the consequences of gluten consumption will also boost the demand for gluten-free baking mixes in the region. The industry is highly competitive when it comes to product variation and pricing. Prominent market participants are focusing on product innovation to attract more consumers.

Related Press Release@ Gluten-Free Baking Mixes Market Report

Gluten-free Baking Mixes Market Report Highlights

• In terms of product, the cookies segment accounted for the highest revenue share of more than 32% in 2020
• The growth of the segment can be attributed to the rising demand for cookies
• Asia Pacific is projected to ascend at the fastest CAGR from 2021 to 2028 due to the rising consumption of healthy food items
• The launch of new products on e-commerce platforms, such as eBay and Amazon, emerged as the key strategy deployed by the majority of market players to stay abreast of the competition
• The grocery stores segment accounted for the largest revenue share in 2020 and will expand further at a steady CAGR from 2021 to 2028
• The presence of numerous grocery stores across all big and small economies is driving the product demand through this channel