by 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 Overview:
Low-calorie foods are foods or beverages that provide fewer calories per serving. These foods are typically manufactured and engineered to be lower in calories, fat, carbohydrates, and sugar than their regular counterparts. They help in reducing calorie and sugar intake that leads to weight loss and management. Low-calorie foods include non-fat yogurt, diet soda, sugar-free beverages and chews, baked chips, cereals, and low-fat spreads and sauces. The rising cases of obesity, health issues, and health consciousness among people has increased the demand for low-calorie food products as they help manage weight and provide essential nutrients.
Market key trends:
One of the key trends in the Global Low-Calorie Food Market Size is the introduction of new product varieties and innovative formulations. Manufacturers are focusing on developing alternative sweeteners, novel formulation techniques, and multiple flavor options to cater to evolving consumer needs and tastes. For example, use of natural Stevia-based sweeteners in place of sugar and added fibers to aid digestion and satiety. Another trend is the clean label movement where consumers demand food products with simple ingredients lists, no artificial preservatives, and colors. This has prompted brands to use natural and recognizable ingredients in low-calorie foods. Companies are also offering products tailored to specific health needs like diabetes, cholesterol management through specialized formulation. Increased availability through e-commerce and convenience stores has also boosted the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the established players dominate the market and new players will find it challenging to gain market share. However, opportunities exist for specialty and niche products.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can switch to regular food if low calorie food prices increase substantially.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have established relationships with manufacturers. However, suppliers still wield influence over prices.
Threat of new substitutes: The threat of new substitutes is moderate as regular food remains a substitution threat. However, health awareness is driving demand for low-calorie food.
Competitive rivalry: The competitive rivalry is intense as the major players compete for market share through product innovation, marketing, and competitive pricing.
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 awareness among consumers. Consumers are adopting healthier lifestyles and prefer food products with fewer calories and more nutritional value.
North America dominates the low-calorie food market currently due to increasing obesity concerns. However, Asia Pacific is expected to grow at the fastest pace during the forecast period. Rising health consciousness driven by growing expendable incomes in developing countries such as India and China is fueling market growth 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. Major players are investing in new product launches and adopting marketing strategies to increase consumer reach and gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
