PUBLISHER: The Business Research Company | PRODUCT CODE: 1425620
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425620
Low-calorie Food Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on low-calorie food market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for low-calorie food? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The low-calorie food market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Low-calorie foods encompass products with relatively minimal calories per serving, proving instrumental in facilitating weight loss. These food items serve as substitutes, meeting daily requirements for essential nutrients like minerals, vitamins, proteins, and energy needs.
Within the realm of low-calorie foods, distinct types emerge, including sugar substitutes, sugar alcohol alternatives, and nutrient-based substitutes. Sugar substitutes serve as ingredients replacing sugar in food products, offering lower calorie content and heightened sweetness compared to sugar. Aspartame, sucralose, stevia, saccharin, cyclamate are examples applied across dairy, dietary beverages, baked goods, snacks, and various other consumables.
The low-calorie food market research report is one of a series of new reports from The Business Research Company that provides low-calorie food market statistics, including low-calorie food industry global market size, regional shares, competitors with a low-calorie food market share, detailed low-calorie food market segments, market trends and opportunities, and any further data you may need to thrive in the low-calorie food industry. This low-calorie food market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The low-calorie food market size has grown strongly in recent years. It will grow from $13.65 billion in 2023 to $14.69 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed in the historical period can be credited to shifting food preferences, heightened awareness and concerns regarding environmental sustainability, improved accessibility and availability of products, as well as the impact of celebrity endorsements and influencer marketing within the industry.
The low-calorie food market size is expected to see strong growth in the next few years. It will grow to $20.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. Anticipated growth in the upcoming period is tied to cultural and demographic changes, an increased focus on sustainability, a rising demand for convenient yet healthy food options, the enforcement of strict nutritional labeling, and the prevalence of diet-related health issues. Key trends expected in this forecast period encompass the health and wellness movement, ongoing product innovation, the growing popularity of plant-based and vegan diets, advancements in technology within the food industry, and the prominence of functional foods catering to specific health needs.
The escalating prevalence of obesity and diabetes worldwide is poised to propel the low-calorie food market's growth trajectory. Obesity, characterized by higher body fat percentages, often coexists with diabetes, driven by elevated blood glucose levels. Employing a low-calorie diet proves advantageous in addressing both conditions, expediting fat burning and inducing a catabolic state. Notably, data from the International Diabetes Federation in 2021 indicated around 537 million adults aged 20-79 living with diabetes, forecasted to surge to 643 million by 2030 and 783 million by 2045. Simultaneously, projections from the World Obesity Federation indicate that by 2030, around 1 billion individuals globally, including 1 in 5 women and 1 in 7 men, will grapple with obesity. Hence, the increasing prevalence of these health concerns propels the low-calorie food market.
The anticipated rise in disposable income is poised to energize the low-calorie food market's growth trajectory. This surplus income after tax and mandatory deductions significantly impacts consumption patterns, especially among individuals and households. Those with higher disposable incomes often prioritize health-conscious options, inclining toward premium-priced, healthier food alternatives. Notably, as of July 2023, statistics from the Bureau of Economic Analysis revealed a slight uptick of $7.3 billion (less than 0.1 percent) in disposable personal income in the US. Therefore, the upsurge in disposable income serves as a driver for the low-calorie food market's expansion.
Innovations in vegan low-calorie foods represent a prominent trend gaining momentum within the low-calorie food market. Key industry players are directing efforts toward crafting vegan low-calorie food choices, catering to the surging popularity of veganism. For instance, in September 2022, Nada Moo!, a Texas-based vegan ice cream company, introduced Frozen Bites, a vegan low-calorie dessert offering a mere 50-70 calories per serving.
Major players within the low-calorie food market are intensifying their focus on introducing low-calorie chocolates, aiming to gain a competitive edge. These offerings target consumers seeking indulgence while managing their calorie intake. Notably, in May 2022, Mars Inc., a US-based food giant, unveiled Triple Treat, a new series of low-calorie chocolate bars encompassing revamped versions of beloved classics like Mars, Snickers, Bounty, and Galaxy. Each bar, dipped and drizzled in milk chocolate, comprises over 75% fruit and nuts, effectively reducing the calorie content of these traditionally sugar-laden treats.
In January 2021, Mondelz International, a prominent US-based food company, completed the acquisition of Hu Master Holdings for an undisclosed sum. This strategic move allows Mondelz International to broaden its product range by introducing highly praised vegan and paleo-friendly chocolate bars that adhere strictly to Ultrasimple sourcing and ingredient guidelines. Hu Master Holdings, a US-based snack company renowned for crafting wholesome snacks from simple ingredients, now becomes part of Mondelz International, enriching their portfolio with healthier snacking options.
Major companies operating in the low-calorie food market report are Ajinomoto Co. Inc., Beneo Group, Ingredion Incorporated, Abbott Laboratories, Galam Ltd., PepsiCo Inc., Zydus Wellness Limited, Bernard Food Industries Inc., Danisco A/S, Archer Daniels Midland Company, The Coca-Cola Company, Cargill Incorporated, Groupe Danone SA, Nestle S.A., McNeil Nutritionals LLC, Dr Pepper Snapple Group Inc., Heartland Food Products Group, Glucerna SR tablets, Kellogg Company, General Mills Inc., The Hershey Company, Mars Incorporated, Mondelez International Inc., Unilever PLC, Kraft Heinz Company, Campbell Soup Company, Conagra Brands Inc., The J.M. Smucker Company, Hormel Foods Corporation, Tyson Foods Inc., Maple Leaf Foods Inc., Beyond Meat Inc., Impossible Foods Inc., Amy's Kitchen Inc., Sweetgreen Inc., Freshii Inc., Just Salad LLC, Chopt Creative Salad Company LLC, Tender Greens, Cava Group Inc., Dig Inn Hospitality Group LLC, Lemonade Restaurant Group LLC
North America was the largest region in the low-calorie food market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the low-calorie food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the low-calorie food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The low-calorie food market consists of sales of sugar substitutes, sugar alcohol substitutes, and nutrient-based substitutes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the manufacturers of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.