May 29, 2024
Low-Calorie Food Market

The Growing Health Consciousness Is Expected To Driven The Global Low-Calorie Food Market Growth

With increasing health issues such as diabetes, obesity, and heart diseases, consumers are inclining more towards healthier food options that are low in calories. Low-calorie food products such as soft drinks, snacks, ice-creams and beverages are available in the market as substitutes of their regular counterparts. These products contain natural or artificial sweeteners in place of sugar and are formulated to provide the same taste but with fewer calories. They help in weight management and maintaining overall well-being.

The global low-calorie food market presents a lucrative growth opportunity owing to the rising health awareness among people. Food products labeled as “low in calories”, “diet” or “light” are gaining widespread popularity. These options allow consumers to enjoy their favourite foods and beverages in moderation without compromising on health. The use of novel ingredients helps lower the calories without affecting the sensory attributes. The variety and versatility of low-cal foods cater to the changing dietary patterns and needs of weight-conscious individuals.

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 key trends:

One of the major trends driving the low-calorie food market is product innovation. Manufacturers are investing heavily in R&D to develop new formulations using natural and artificial sweeteners, fibers, proteins etc. The focus is on creating healthier substitutes that mimic the taste of regular products. For instance, low-sugar yogurts and ice-creams made with protein are gaining popularity. Another trend is customized products tailored to specific health conditions. There is a rise in low-FODMAP, Keto-friendly, vegan and gluten-free low-cal options. Ready-to-eat meals, snacks and beverages are also available in convenient packaging formats. Growing health consciousness coupled with changing lifestyles is bolstering the demand for convenient, tasty and nutritious low-calorie food choices.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to the established distribution channels and brand loyalty of existing players. However, relatively low barriers to entry can attract new players.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitutes. Brand loyalty and nutritional value proposition make buyers less price sensitive.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many ingredient suppliers and commodity nature of inputs. This allows buyers to dictate prices.

Threat of new substitutes: The threat of new substitutes is high due to constant product innovation and introduction of various diet foods and beverages.

Competitive rivalry: Competition is intense due to the presence of global brands continuously innovating products.

Key Takeaways

The global Low-Calorie Food Market Growth is expected to witness high growth. The market size was valued at US$ 12.72 Bn in 2023 and is forecast to reach US$ 20.49 Bn by 2030, expanding at a CAGR of 6.1% during the forecast period.

North America dominated the market in 2023 and is expected to maintain its lead during the forecast period. Growing health awareness and strong marketing by leading brands has boosted demand. Asia Pacific is expected to be the fastest growing market led by countries such as India and China. Rising disposable incomes and shifting lifestyle preferences are driving the growth of low-calorie foods in the region.

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. Companies are launching new products and acquiring regional brands to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it