The 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 Overview:
Low-calorie foods are food items that contain fewer calories than their regular counterparts. Some examples of low-calorie foods include fruits and vegetables, whole grains, lean meats and seafood, low-fat dairy, etc. These foods help in weight management and maintaining overall health and wellness. With increasing obesity and lifestyle diseases, there is growing demand for low-calorie food options in the market. Various product types available are beverages, dairy products, bakery products, snacks, and others that offer tasty and filling food alternative to regular diet.
Market Dynamics:
Increasing health awareness among consumers is a major driver fueling the growth of the Global Low-Calorie Food Market Size More people are adopting healthy lifestyle by opting for nutritious yet low-calorie foods. Rising obesity rates globally due to sedentary lifestyle and junk food consumption has also boosted the demand for low-calorie foods. According to the WHO, over 650 million adults were obese in 2016. Furthermore, growing diabetic population base worldwide looking for sugar-free or low sugar products is positively impacting the market growth. However, development of low-calorie foods require extensive research and use of artificial sweeteners which adds to the overall cost of products, thereby acting as a major challenge. Nevertheless, introduction of tasty and healthier low-calorie food varieties by key players catering to the changing consumer preferences will continue to provide growth opportunities over the forecast period.
Segment Analysis
The global low-calorie food market is dominated by the beverages sub-segment. Low-calorie beverages account for around 40% of total low-calorie food sales owing to an increasingly health-conscious population and rising obesity concerns. Consumers are switching to low-calorie drinks as a healthier alternative.
PEST Analysis
Political: Governments in many countries are supporting health initiatives to promote low-calorie foods and curb obesity rates through awareness campaigns and regulations on food labeling.
Economic: The global economy recovering from pandemicinduced slowdown is boosting consumer spending on health foods and dietary habits.
Social: Growing health and fitness trends are driving demand for low-calorie foods as people seek to manage their weight and stay active. Social media is emphasizing fitness lifestyle.
Technological: Advancements in ingredient replacement and recipe formulation are helping brands lower calories and fat in foods while maintaining taste. New processing methods aid nutrients retention.
Key Takeaways
The global low-calorie food market is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing health consciousness and obesity concerns. The market size for 2023 is estimated at US$ 12.72 Billion.
Regional analysis: Asia Pacific region is expected to dominate market share owing to rising incomes, urbanization, health awareness initiatives by governments and food companies targeting youth. China, India are major consumers. North America and Europe are other major markets but Asia Pacific is growing fastest.
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. PepsiCo, Coca-Cola dominate beverages segment while Nestle leads in other food categories.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it