Theglobal low calorie foodmarket was valued at over US$10 Bn in2019 and it is expected to grow consistently between 2020 and 2030.Transparency Market Reports (TMR) in its recent study uncovers hidden growthopportunities within the market and studies the key restraints. According toTMR, the rising focus on health and wellness among consumers will givetailwinds to the growth witnessed in the low calorie food market.
Consumersaround 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 towidespread media coverage to health and fitness, they are adopting low caloriediet to aid weight loss.
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Low Calorie Food Producers FindLucrative Prospects in Mature Markets
Obesity isparticularly widespread in countries such as the U.S., Australia, and the U.K.Studies reveal that 20% of thepopulation in their countries are obese. This however spells good news for themarket. Low calorie foods are relatively high priced, which been inhibitingpenetration for companies in Asia Pacific and Rest of the World so far.
As a resultsome of the leading companies in the low calorie food market are more relianton opportunities present across mature markets. However, this could change overthe course of the report’s forecast as consumers across Asia Pacific and Restof the World exhibit higher willingness to spend on healthy diet.
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In terms ofproduct, the low-calorie food market covers stevia, saccharin, cyclamate,sucralose, and aspartame. Of these, sucralose, which is significantly popularas calorie-free artificial sweetener, holds leading share in the market. Italready has a broad range of applications in low-calorie food, and fizzydrinks.
Besidesthis, sucralose is also quite popular as table top sweetener and is often usedas a sweetening agent in salad dressings and breakfast cereals. After thoroughresearch, the European Union’s Scientific Community on Food has declared it tobe completely safe for consumption. This is in turn giving impetus to the lowcalorie food market.
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Steviatoo has been basking on soaring popularity as consumers show increasinginclination for food without any artificial additive. Moreover, stevia isgiving other artificial sweeteners a run for their money on account of being acent percent natural sweetener. In terms of application, the beverages sectoris 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 inhigh revenue for the market. Among these regions, North America holdsdominance, trailed by Europe with substantial share.
However,the Asia Pacific market is forecast to rise at a higher pace over the forecastperiod. Besides the rising demand from high potential markets such as India andChina, which are also densely populated, burgeoning cases of diabetes will fuellow-calorie food demand in the region. In Latin America, the market is expectedto witness impressive prospects in Brazil.
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The reportalso profiles some of the leading companies operating in the global low caloriefood market. These include Abbott Laboratories, PepsiCo, Inc.,Nestle SA, The Coca-Cola Company, Group Danone, among others.
The food andbeverages sector has cemented its place among the global populace firmly overthe years. This sector attracts considerable investments and subsidies fromnumerous government and non-government organizations. The trends and popularityregarding specific sub-categories are dynamic and help in structuring theoverall 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 changingtrends, which helps increase revenue-generation opportunities.
The world hasundergone a major shift in the way of living since the COVID-19 pandemicstruck. A notable change in the functioning of various businesses and sectorshas influenced their working mechanisms extensively. The food and beveragesector is no stranger to this change. Transparency Market Research (TMR) hasstudied many aspects concerning the difference between the trends in thepre-pandemic and post-pandemic world across the food and beverage industry.
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