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.
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.
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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.
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.
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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.
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.
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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.
The food and
beverages sector has cemented its place among the global populace firmly over
the years. This sector attracts considerable investments and subsidies from
numerous government and non-government organizations. The trends and popularity
regarding specific sub-categories are dynamic and help in structuring the
overall growth. The trends are a way of answering the needs of the consumer.
The players in the food and beverages sector have to adapt to the changing
trends, which helps increase revenue-generation opportunities.
The world has
undergone a major shift in the way of living since the COVID-19 pandemic
struck. A notable change in the functioning of various businesses and sectors
has influenced their working mechanisms extensively. The food and beverage
sector is no stranger to this change. Transparency Market Research (TMR) has
studied many aspects concerning the difference between the trends in the
pre-pandemic and post-pandemic world across the food and beverage industry.
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Market Research is a global market intelligence company, providing global
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forecasting and trends analysis provides forward-looking insight for thousands
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broad research and analysis capability, Transparency Market Research employs
rigorous primary and secondary research techniques in developing distinctive
data sets and research material for business reports.
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