The Low-Calorie food market comprises food and beverages consisting of low levels of fat, sugar, and calories. Low-calorie foods help address issues such as obesity, diabetes, and cardiovascular diseases. Some key products in the market include diet carbonated drinks, low-fat dairy, sugar-free chocolate, low-calorie baked goods, substitutes for high-calorie ingredients etc. The global low-calorie food market provides various health benefits such as weight management and satiety to health-conscious people.
The global Low-Calorie Food Market is estimated to be valued at US$ 12.72 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
With increasing health consciousness across the world, there is a growing demand for low-calorie food products. The prevalence of obesity and lifestyle diseases has increased rapidly in recent years. Growing awareness about risks of excessive sugar and calorie intake is compelling people to adopt healthier diets and lifestyles. According to a recent study, around 30% of global population prefers low-calorie foods over regular foods. The low-calorie food market offers immense opportunity for manufacturers to launch more innovative and tasty products catering to this growing consumer segment. Development of low-calorie substitutes for baked goods, desserts and snacks will further aid market growth in the coming years.
Porter's Analysis
Threat of new entrants: Low-calorie food market is competitive with global presence of major players, hindering new players to enter.
Bargaining power of buyers: Buyers have high bargaining power due to availability of various low-calorie food options from key players.
Bargaining power of suppliers: Suppliers have low bargaining power as key players source raw materials like sucrose, fructose, proteins from various suppliers globally.
Threat of new substitutes: Low as there are limited substitutes for low-calorie food meeting nutritional requirements.
Competitive rivalry: High as major players compete on factors like new product launches, marketing campaigns, and global expansion.
SWOT Analysis
Strength: Wide product portfolio meeting varied nutritional needs. Strong brand image and marketing by major players.
Weakness: Heavy reliance on discretionary spending affecting sales. Vulnerable to substitutes offering similar benefits.
Opportunity: Growing health-conscious population driving demand. Expanding into developing regions presents new opportunities.
Threats: Strict regulations on low-calorie claims. Rising raw material costs and supply chain disruptions.
Key Takeaways
The global Low-Calorie Food Market Growth is expected to witness high growth over the forecast period aided by growing health awareness. The global Low-Calorie Food Market is estimated to be valued at US$ 12.72 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
North America dominates currently owing to early adoption of healthy diets and lifestyles in countries like the US and Canada. However, Asia Pacific is likely to grow at the fastest pace with nations like China and India emerging as lucrative markets. Rising disposable incomes, growing health consciousness, and expanding retail infrastructure in densely populated countries like China and India are compelling key players to focus on the region.
Key players: Key players operating in the low-calorie food market are PepsiCo, Inc., Nestle SA, The Coca-Cola Company, Groupe Danone, Abbott Laboratories, Bernard Food Industries, Inc, Zydus Wellness Ltd., Dr. Pepper Snapple Group Inc., McNeil Nutritionals LLC, Cargill, Incorporated, and Ajinomoto Co., Inc.
For more insights, read- https://www.pressreleasebulletin.com/low-calorie-food-market-trends-size-and-share-analysis/
