A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that global low-calorie food market was worth USD 11.0 billion in the year 2020. According to the study, the market is estimated to grow at a CAGR of 6.0%, earning revenue of around USD 16.5 billion by the end of 2027. Globally, the growth of the low-calorie food market is mainly driven by the increased health awareness among all age groups and the rise of lifestyle-based diseases. Due to an increased working population in the service sector, the prevalence of lifestyle diseases such as obesity, heart stroke, diabetes, metabolic syndrome, etc., is on the rise at an alarming rate. As a result, people are opting for low-calorie food to maintain their health. Furthermore, the rising purchasing power of people, especially among developed regions, is another factor driving the global low-calorie food market growth.
Increasing Health Awareness is Expected to Boost Global Low-Calorie Market
The prevalence of various lifestyle diseases has caused people to become more aware of their health and ways to maintain it. Luckily, healthy eating is one of the simplest and most efficient ways to maintain good health. Therefore, low-calorie food is experiencing enormous growth in its market. Furthermore, eating high-calorie foods can lead to obesity and increase the risk of cancer and other chronic health problems. Moreover, the increasing awareness of the negative effects of high-calorie food and consumption also presents growth opportunities.
Availability and Launch of Wide Range of Low-Calorie Food Products Driving the Global Low-Calorie Market
Manufacturers of low-calorie foods offer a variety of products that meet the tastes of different demographics while maintaining health benefits. For instance, Lo-Dough food-tech company recently launched a low-calorie vanilla sponge mix that creates sponge cake at just 47 calories per slice. This is one of the major factors propelling the growth of the low-calorie food market. Furthermore, the companies are launching new offerings with appealing packaging that are easily available at retail stores, supermarkets, or hypermarkets, thereby contributing to the company's growth.
Global Low-Calorie Food Market - By Application
Based on applications, the global low-calorie food market is segmented into dairy products, baked products, snacks, dietary beverages, ice creams and jellies, confectionery, and others. Among these, the beverages segment holds the highest market share in the low-calorie food market. The most popular beverages are flavored water, energy drinks, sports drinks, fruit drinks, tea, milk, etc. Young people are especially attracted to these beverages since they are tasty and provide vital nutrients to the body.
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Global Low-Calorie Food Market - Regional Insights
Geographically, the global low-calorie food market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the global low-calorie food market among all regions due to its high working population and disposable income. The increasing prevalence of obesity in North America has also contributed to the demand for low-calorie foods in the region. According to a report, around 39.6% of adults and 18.5% of children suffer from obesity in the US. Therefore, such high numbers and increasing health awareness are significantly boosting the low-calorie food market.
Impact of COVID-19 on Global Low-Calorie Food Market
The global low-calorie food market witnessed immense growth opportunities after the sudden outbreak of the COVID-19 pandemic. As the people were quarantined in their residential spaces due to lockdown and forced to work from home, their physical activities were restricted, negatively affecting their health. Therefore, a large consumer base, especially young working adults, swiftly shifted towards low-calorie foods to maintain their overall health. Furthermore, the emergence of online platforms also helped overcome the distribution channels’ restrictions due to lockdown. The overall global low-calorie food market is expected to flourish significantly in the post-COVID-19 period with the availability of a wide range of low-calorie food options.
Competitive Landscape
The leading players in the global low-calorie food market are Ajinomoto U.S.A Inc., Beneo Group, Ingredion Inc., Abbott laboratories, Galam Ltd., Pepsico Inc., Zydus wellness Ltd. Bernard food industries, Danisco A/S., Archer Daniels Midland Company, The Coca Cola Company, Cargill Incorporated, Tate & Lyle, Dupont, Roquette Freres, PureCircle, JK Sucralose Inc., NutraSweet Co, and other prominent players.
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