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.
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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.
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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.
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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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