Asia-Pacific Fat Replacers Market size in 2019 is estimated to be $638 million, growing at a CAGR of 6.9% during the forecast period 2020-2025. Fat replacer is a substance which has low calories and taste like natural fat. Fat replacer are widely used in food processing industries such as baked goods, cheeses, sour cream, yogurt, margarine, salad dressing, sauces and gravies. It has same functions, stability, physical, and chemical characteristics as regular fat. Increasing demand for low calorie and low fat products coupled with rising health conscious people are the major factors driving the growth of the market. Moreover, rising consumption of milk & milk products further enhance the overall market demand for Asia-Pacific Fat Replacers during the forecast period 2020-2025.
Asia-Pacific Fat Replacers Market Segment Analysis - By Source
Based on the Source Type, Asia-Pacific Fat Replacers Market is segmented into Plant, Animal. The Animal segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 5.6% during the forecast period 2020-2025. This is mainly owing to growing demand for animal protein. Moreover, it contains all essential amino acids derived from meat, fish and others that are contributing to the growth of this segment.
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Asia-Pacific Fat Replacers Market Segment Analysis - By Type
Based on the Type, Asia-Pacific Fat Replacers Market is segmented into Carbohydrate based, Protein based, Lipid based. In 2019, protein based held the largest share in the Asia-Pacific Fat Replacers market. This is mainly owing to it is widely used in frozen desserts and dairy beverages. Moreover, it enhance texture and mouthfeel is also contributing to the growth of this segment.
Asia-Pacific Fat Replacers Market Segment Analysis - By Application
Based on the Applications, Asia-Pacific Fat Replacers Market is segmented into Bakery and Confectionery, Dairy & Frozen Desserts, Processed Meat, Convenience Foods and Beverages, Others. In 2019, Convenience Foods and Beverages held the largest share in the Asia-Pacific Fat Replacers market. This is mainly owing to rising demand for Convenience products. Moreover, it does not take cooking time and easy to prepare is also contributing to the growth of this segment.
Asia-Pacific Fat Replacers Market Drivers
Increasing prevalence of Diseases
Increasing prevalence of obesity, high blood cholesterol level and heart diseases in this region are some factors driving the growth of Asia-Pacific Fat Replacers market. Moreover, this accelerated demand for low calorie and low fat food products is also set to increase the market growth. According to the Australian Bureau of Statistics National Health Survey in 2018, 67% of Australian adult were obese.
Growing Consumption of Dairy products
Growing consumption rate of milk and dairy products in this region are some factors driving the growth of the market. Moreover rising awareness about health is also contributing to the growth of Asia-Pacific Fat Replacers Market. According to the Food and Agriculture Organization (FAO) of the United Nations, in Southeast Asia the consumption of milk and milk products such as frozen desserts are poised to increase by 125% by 2030.
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Asia-Pacific Fat Replacers Market Challenges
Presence of low quality products is challenging the growth of the market. Moreover, increasing presence of local players are further restraining its market growth during the forecast period 2020-2025.
Asia-Pacific Fat Replacers Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Asia-Pacific Fat Replacers Market. Asia-Pacific Fat Replacers top 10 companies are Cargill Incorporated, Tate & Lyle PLC, Ingredion Incorporated, Kerry Group plc., CP Kelco U.S., Inc., Archer Daniels Midland Company, IMCD India Private Limited, DuPont, FMC Corporation, Unilever Inc.
Acquisitions/Product Launches:
In August 2020, IMCD India Private Limited, a leading distributor of speciality chemicals and ingredients has acquired VitaQualy, Brazilian speciality ingredient distributor. This acquisition helps IMCD for strengthening its Food & Nutrition product portfolio.
Key Takeaways
Increasing prevalence of obesity, high blood cholesterol level and heart diseases is driving the market growth of Asia-Pacific Fat Replacers.
Detailed analysis of the Strength, Weakness, and opportunities of the key players operating in the market will be provided in the Asia-Pacific Fat Replacers Market report.
Presence of low quality products and presence of local competitors are challenging the growth of the market.
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