The growing adoption of healthy lifestyles among consumers across the globe has led to an increasing demand for low-calorie food products in recent years. Low-calorie foods offer similar tastes to regular foods but contain fewer calories through formulations using ingredients like sugar substitutes, fibers, and proteins. They cater to the needs of health-conscious people trying to lose or maintain weight through calorie-controlled diets. Popular low-calorie food categories include beverages, bakery products, dairy alternatives, snacks, and sauces & dressings. Manufacturers are focusing on offering these foods across multiple distribution channels like supermarkets, convenience stores, pharmacies, and online retailers to increase accessibility.
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 Dynamics
Rising health consciousness among consumers is one of the major drivers propelling the growth of the low-calorie food market. With growing obesity rates around the world due to changing lifestyles and eating patterns, people are becoming increasingly aware of the importance of maintaining a healthy weight through balanced diets and portion control. This has boosted the demand for low-calorie alternatives to regular foods that allow for calorie reduction without compromising on taste. Another driver is the increasing launch of new products by major brands. Food companies are innovating and expanding their low-calorie offerings to cater to diverse customer segments with products across categories, formats, and flavor profiles. They are also leveraging online retail platforms for amplifying marketing efforts and boosting the visibility of low-calorie items.
SWOT Analysis
Strength: The low-calorie food market offers health-conscious consumers a healthier option for weight management and overall wellness without compromising on taste. Products in this market such as beverages, snacks and baked goods are specially formulated with low-calorie natural or artificial sweeteners to provide similar taste and experience as regular foods but with lower calories. This gives consumers a feasible way to monitor their calorie intake and manage their weight or diet.
Weakness: Artificial low-calorie sweeteners used in some products have been linked to potential health issues such as cancer and heart risks if consumed in large amounts regularly over decades according to some long-term studies. However, most health authorities still consider them safe for regular use. Additionally, low-calorie alternatives tend to be more expensive than regular options so consumers have to pay a premium for wellness benefits.
Opportunity: Growing health consciousness and increasing obesity and diabetes rates globally are driving more people to opt for low-calorie food and beverages. Industry players can capitalize on this trend by introducing more innovative, great-tasting low-cal products across categories. Rise of wellness tourism also allows opportunities to promote these products to health-conscious travelers and tap foreign markets.
Threats: Consumer preferences may shift towards even lower calorie or zero-calorie products that promise greater weight loss results. Companies compete constantly on innovation, taste and health attributes which require intensive R&D efforts and investments. Unfavorable scientific findings on ingredients can impact brand perceptions. Economic downturns may negatively affect premium wellness segments as people prioritize basic goods over healthier options.
Key Takeaways
The global Low-Calorie Food Market Growth is expected to witness high growth over the forecast period propelled by growing health awareness and rising obesity concerns driving demand for wellness-oriented food options. 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.
North America currently dominates the market owing to health-conscious consumer base and presence of leading players. However, Asia Pacific is expected to grow at the fastest pace led by nations like China, India and Japan where obesity rates are escalating rapidly alongside rising incomes and shifting diets.
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.
