The
global low calorie food market was valued at
over US$10
Bn in 2019 and it is expected to grow consistently between
2020 and 2030. Transparency Market Reports (TMR) in its recent study uncovers
hidden growth opportunities within the market and studies the key restraints.
According to TMR, the rising focus on health and wellness among consumers will
give tailwinds to the growth witnessed in the low calorie food market.
Consumers
around the world are responding to the increasing prevalence of diabetes,
obesity, and other health maladies by adopting healthier diet. As a result,
demand witnessed in the low calorie food market has surged. Thanks to
widespread media coverage to health and fitness, they are adopting low calorie
diet to aid weight loss.
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Low Calorie Food Producers Find
Lucrative Prospects in Mature Markets
Obesity is
particularly widespread in countries such as the U.S., Australia, and the U.K.
Studies reveal that 20% of the
population in their countries are obese. This however spells good news for the
market. Low calorie foods are relatively high priced, which been inhibiting
penetration for companies in Asia Pacific and Rest of the World so far.
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As a result
some of the leading companies in the low calorie food market are more reliant
on opportunities present across mature markets. However, this could change over
the course of the report’s forecast as consumers across Asia Pacific and Rest
of the World exhibit higher willingness to spend on healthy diet.
Positive Research Outcomes Giving
Big Push to Sucralose Sales
In terms of
product, the low-calorie food market covers stevia, saccharin, cyclamate,
sucralose, and aspartame. Of these, sucralose, which is significantly popular
as calorie-free artificial sweetener, holds leading share in the market. It
already has a broad range of applications in low-calorie food, and fizzy
drinks.
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Besides
this, sucralose is also quite popular as table top sweetener and is often used
as a sweetening agent in salad dressings and breakfast cereals. After thorough
research, the European Union’s Scientific Community on Food has declared it to
be completely safe for consumption. This is in turn giving impetus to the low
calorie food market.
Stevia too
has been basking on soaring popularity as consumers show increasing inclination
for food without any artificial additive. Moreover, stevia is giving other
artificial sweeteners a run for their money on account of being a cent percent
natural sweetener. In terms of application, the beverages sector is expected to
remain dominant in the low calorie food market.
Regionally,
North America and Europe currently hold the leading share in the global market.
Backed by the demand witnessed in the U.S. and U.K, both regions are raking in
high revenue for the market. Among these regions, North America holds
dominance, trailed by Europe with substantial share.
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However,
the Asia Pacific market is forecast to rise at a higher pace over the forecast
period. Besides the rising demand from high potential markets such as India and
China, which are also densely populated, burgeoning cases of diabetes will fuel
low-calorie food demand in the region. In Latin America, the market is expected
to witness impressive prospects in Brazil.
The report
also profiles some of the leading companies operating in the global low calorie
food market. These include Abbott Laboratories, PepsiCo, Inc.,
Nestle SA, The Coca-Cola Company, Group Danone, among others.
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