Low Calorie Food Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1690
Low Calorie Food Market size is projected to witness extensive growth owning to changing lifestyle and rising health awareness. Increasing diabetes, stress, obesity issues and cardiovascular diseases have triggered demand for less fat content products which is expected to propel low calorie food market size. Consumers are aware of health risks associated with consumption of sugary diets and drinks that have high-fat content. Thereby, escalating demand for products which are promoting physical health with added nutritional benefits.
Growing retail sector coupled with rising disposable income of customers is projected to have positive impact on low calorie food market. Additionally, emergence of various industries including, functional diets, dietary supplements and cereal bars over past decades have increased the demand for product among city dwellers. This is due to busy lifestyle and absence of physical activity.
Escalating demand for sugar substitutes coupled with increasing aging population worldwide is likely to increase product penetration. The product includes vitamins, trace elements, iron, fiber, magnesium, minerals, protein and fatty acids. Carbohydrates may be absent from the diet or substituted by proteins which include oats, black rice, broccoli, watermelon, apple, carrot, lemon, orange, pine, apple, legumes, cauliflower and green smoothies.
The major restraints for low calorie food market are weak production line & distribution chains and higher price of product relative to other convenience eatables. Therefore, major players are restricted to develop economies of scale as the costlier diets cannot be afforded by many consumers worldwide. Further, ready to eat processed diet products and artificial sweeteners are known to cause potential health hazards which are anticipated to restrain low calorie food market.
The product is available in five types named, stevia, saccharin, aspartame, sucralose and cyclamate. Sucralose is projected to outperform all other segments in terms of growth rate owning to its wide application in broad range of low calorie food which include table top sweeteners, chewing gum, salad dressings, fizzy drinks, breakfast cereals and baking mixes. This is because most of the sucralose is rejected by our body and the rest is drained through urine. Additionally, after exhaustive research and studies, the European Union’s Scientific Committee on Food (SCF) has stated sucralose to be entirely safe for health.
The product is further classified based on substitutes which include sugar, nutrient and sugar alcohol. Sugar substitute will witness significant growth owning to the rise in confectionery and beverage industry. It is used in baked, healthcare & dairy products, snacks and dietary beverages. Dairy product is the fastest growing segment due to health benefits it offers.
Asia Pacific region is projected to witness significant growth for low calorie food market owning to growing preference for less fat content dairy beverages. Other factors which will drive product demand in the region include growing population and emerging economies like India and China which are home to many diabetic people who need the product.
North America, led by the U.S. holds the largest share for low calorie food market. Up surging popularity of less fat content products due to rising health awareness, diabetic and obese patients is anticipated to fuel product growth in the region.
Europe is expected as the fastest growing region for low calorie food market as it accounts for the maximum number of obese people globally. Besides this, changing attitude and lifestyle of people towards better health is likely to impel low calorie food market in the region.
Low calorie food market is consolidated with many companies manufacturing at national and international level. Some of the major players for low calorie food market include Pepper Snapple, McNeil Nutritional, Zydus Wellness, Archer Daniels Midland Danone, Nestle, Coca-Cola Com, Ajinomoto, PepsiCo, Beneo, Abbott Laboratories, Dansico, Bernard and Cargill.
Companies have adopted several strategies to capture the evolving industry which include merger, acquisitions, expansion and investments. In November 2016, Pepper Snapple acquired Bai Brands, manufacturing antioxidant infused beverages. This acquisition will help the company to diverse its product offerings and increase geographical coverage.
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