Global low calorie food market is expected to witness notable growth over the forecast period on account of growing health awareness among consumers across the globe. Rising obesity issues, diabetes and cardiovascular diseases over the past decade have triggered demand for low fat content foods which in turn is expected to propel market demand. Rapid urbanization and changing lifestyle of consumers, particularly in emerging economies of China, India, Brazil and Mexico is expected to be a major driver for market growth. Growing retail sector coupled with increasing disposable income of consumers is anticipated to have a positive impact on market. Emergence of various functional foods, dietary supplements, convenience foods and cereal bars over the past few years has augmented demand for low-calorie foods among city dwellers on account of busy lifestyle and lack of physical activity. Increasing demand for sugar substitutes coupled with rising global aging population is further likely to fuel demand for low-calorie foods over the next six years. However, artificial sweeteners and ready-to-eat processed food products are known to have potential health hazards which are expected to restrain the market over the forecast period.
Low-calorie foods offer various health and psychological benefits including weight reduction, management of diabetes and risks associated with obesity which are anticipated to be major factors for growing popularity among the consumers. Market for low-calorie foods is segmented on the basis of product types into sucralose, aspartame, stevia, saccharine and cyclamate. Aspartame was the largest product segment in 2014 on account of its widespread use as an artificial sweetener in food products and beverages. Shift in consumer preference towards naturally sourced products has augmented the demand for stevia and is expected to have potential growth prospects over the next six years. On the basis of application, market is segmented into food, beverages, healthcare and tabletop. Beverages are expected to be the fastest growing segment over the forecast period owing to swelling demand for various health drinks and packaged juice products among the consumers. Rising demand for tabletop products such as salad dressings, mayonnaise and margarines are anticipated to positively influence market.
North America was the largest low calorie food market in 2014 followed by Europe accounting for more than half of the global consumption on account of increasing obese population coupled with rising health awareness among the consumers in the region. Asia Pacific is expected to be the fastest growing market owing to rapid surge in food & beverage industry, particularly in emerging economies of China and India. Latin America are also likely to have strong growth prospects over the next six years due to rapid urbanization in Brazil.
Some of the major players in the market include Archer Daniels Midland Company, Beneo GmbH, Dansico A/S, The Coca Cola Company, Ajinomoto Co. Inc, Cargill Incorporated, Bernard Food Industries and Ingredion Inc.
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