Paleo Food Market – Overview
According to a recent study report published by the Market Research Future, The Global Paleo Food Market is booming and is projected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR from 2017 to 2022.
Paleo food have traced their roots particularly from the U.S. and has been around for some years. Its popularity has been growing since the 1990’s and Owing to various health benefits associated with paleo food consumption in form of sustained weight loss, improvement in glucose tolerance, decreasing insulin secretion, and rising insulin sensitivity, there has been huge demand of paleo diet. Paleo foods are natural and organic and are rich concentrated sources of various vitamins and minerals and is based on nutritional approach and include consumption of unprocessed and high in nutrients food. “Back to the basics” is the growth mantra for the industry as there has been growing inclination towards the eating habits of our ancient ancestors, which are perceived to be more natural.
Paleo food market holds huge opportunity with the increasing demand of natural ingredients and rising consumption of simple food such as ancient grains and green foods. Intake of paleo diet is found to be high especially amongst the youth population, especially in U.S., followed by Australia. Paleo diet movement will revolutionize the food industry and with growing consumer awareness & health concern, rising incidence of diseases, urbanization along with changing lifestyle leading to inclination towards alternative diet will stimulate the growth of Paleo Food industry. Paleo diet is the new found trend for healthy lifestyle and modern consumers seek to follow age-old formulations, flavors and diet formats, which has significantly contributed to the growth of this market. Breakfast granola and fruit & nut bars are the major segments projected to have the highest growth in the coming years. Meat bars have also gained traction in the recent years due to growing awareness of positive outcomes of eating healthy caloric food. Inclusion of distribution channel mainly the e-commerce has prompted the sales of paleo food products in the recent years and making consumers aware about the product features, unique functional properties, price-range, and organic type.
Due to the various health benefits associated to paleo food consumption over traditional food, the market is growing at an incremental pace of development globally. The pursuit of healthy attributes along with major demographic trends in high growth markets where youth is primarily interested and attracted to follow the recent trends out of peer pressure, vegan diet acting as bright spot in food industry along with higher disposable income, contribute as key driving factors in paleo food market and create potential opportunities for industry players.
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Latest Industry Updates
- September 2017, The Paleo Foods Co. has introduced UHT Almond Drink in the UK market. The company has kept its focus on product innovation and after introducing the very first grain-free granola range, it has almond milk which is creamy, with all-natural and high quality almond milk containing a mega 9% almonds.
Paleo Food Market – Competitive Analysis
With diverse products and increasing stores encouraging the Paleo diet, Paleo diet market has hit the mainstream. With the entry of new industry players in the Paleo Food segment, a trend of solid, volume-driven growth has been observed in the market. At present, there are limited number of large and small market players. Price, quality, product differentiation, distribution, and promotion are the major factors on which industrial players compete to maintain their market share. Industrial players are extensively investing on R&D, new product development, strategic partnerships and collaborations with e-retailers. Millions dollars are pouring in for product promotion by the industrial players as products are increasingly marketed as paleo-friendly and manufacturers are diversifying the product portfolio wherein, some high-profile product lines feature ‘paleo’ in the product name or brand. Industrial players in order to sustain and succeed in a competitive environment, look for product differentiation along with cost savings through a unique and clear value proposition.
Industrial players are extensively investing on marketing activities in order to make strong brand image of their products and also to create an awareness along with keeping strong focus on product packaging creating brand value. With manufacturers aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points from both supply and demand side. The key market players profiled in Paleo Food are The Paleo Foods Co. (U.K), Paleo Baking Company (U.S.), Epic Provisions (U.S.), Paleo Braaap, LLC (U.S.), PRIMAL PACS (U.S.), Black Bear GmbH (Austria), Blue Mountain Organics (U.S.), Back Roads Food Company (U.S.), Paleo Food Prodotti Per La Dieta Paleo (Italy) and Paleosnacks (Australia).
Paleo Food Market – Segments
The global Paleo Food market has been divided into raw material, type, and region.
- On The Basis Of Form: Vegetarian and Non-Vegetarian
- On The Basis Of Type: Meat, vegetables, fruits, nuts, seeds, healthy oil/fat and others
- On The Basis Of Application: Cereals, bakery products, and snacks; Sports nutrition and beverages; Others
- On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Paleo Food Market – Regional Analysis
The global Paleo Food market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Paleo Food market is highly dominated by North America owing to the fact that paleo diet was originated in U.S.. APAC is fastest growing region due to changing lifestyle, changing demographic trends, and improved disposable income in that region. The consumption of Paleo Food in developing counties like Mexico, India, Brazil and China is expected to grow in upcoming years.
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U.S. accounted for highest market share in the paleo food during the period 2011-2016 followed by Australia. Major paleo food companies are looking at Europe and APAC as potential regions for investments due to potential demand scenario.
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