The global Low-Calorie Food Market is estimated to be valued at US$ 11.3 Billion in 2021 and is expected to exhibit a CAGR of 6.1% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Low-calorie foods are products that contain fewer calories compared to their regular counterparts. These products offer various advantages such as weight management, reduced risk of chronic diseases, and improved overall health. The increasing health consciousness among consumers, coupled with the rising incidence of obesity and related health issues, is driving the demand for low-calorie foods. Furthermore, the growing trend of diet and lifestyle modifications for weight loss and healthy living is also contributing to market growth. Manufacturers are introducing innovative low-calorie food options in various categories, such as beverages, snacks, and desserts, to cater to the diverse preferences and requirements of consumers.
Market Key Trends:
One key trend observed in the low-calorie food market is the growing demand for natural and organic low-calorie food products. Consumers are becoming more conscious about the ingredients used in their food and are seeking healthier and more sustainable options. As a result, there is an increasing preference for low-calorie foods made from natural and organic ingredients, without the use of artificial additives or preservatives. This trend is driven by the rising awareness of the potential health risks associated with synthetic additives and the desire for clean label products. Manufacturers are responding to this trend by developing and marketing low-calorie food products that are perceived as healthier and more environmentally-friendly.
PEST Analysis:
Political: The political factors influencing the low-calorie food market include government regulations and policies related to food labeling, health claims, and advertising. Governments are increasingly focusing on promoting healthy eating habits and combating obesity through various initiatives. For example, many countries have implemented taxes on sugary beverages or restricted the advertising of unhealthy foods to children.
Economic: The economic factors influencing the low-calorie food market include disposable income levels and consumer spending patterns. As the global economy continues to grow, consumers are becoming more conscious about their health and are willing to spend more on healthier food options. Additionally, the rising healthcare costs associated with obesity are driving consumers towards low-calorie food products.
Social: Social factors influencing the low-calorie food market include shifting consumer preferences and lifestyles. There is an increasing awareness about the adverse health effects of a high-calorie diet, which has led to a growing demand for low-calorie food products. Changing demographic trends, such as an aging population and increasing urbanization, are also influencing consumer preferences towards healthier food choices.
Technological: Technological factors influencing the low-calorie food market include advancements in food processing techniques and packaging technologies. Continuous research and development in the food industry have led to the development of innovative low-calorie formulations that provide enhanced taste and nutritional value. Furthermore, advancements in packaging technologies, such as convenient portion control packaging, are making low-calorie food products more accessible to consumers.
Key Takeaways:
The global Low-Calorie Food Market Share is expected to witness high growth, exhibiting a CAGR of 6.1% over the forecast period of 2022-2030. This growth can be attributed to increasing consumer awareness about health and wellness, as well as the rising prevalence of obesity and lifestyle diseases.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the low-calorie food market. The region has a large population suffering from obesity and related health issues, which is driving the demand for low-calorie food products. Additionally, government initiatives promoting healthy eating habits and the presence of major players in the region are further contributing to its dominance.
Key players operating in the low-calorie food market include 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. These players have a strong market presence and are actively engaged in product innovation and marketing strategies to cater to the growing demand for low-calorie food products globally.
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