The global low calorie food market is mainly driven by factors such as a growing geriatric population, high incidence of diabetes and obesity related issues, and greater awareness about health and lifestyle. With obesity becoming an epidemic, the demand for low calorie food is on the rise. Obesity is the root cause of several lifestyle diseases and ailments such as diabetes, hypertension, and other cardiovascular disorders.
The growing popularity of low calorie food can also be attributed to fast-paced lifestyles coupled with growing focus on health and fitness. The global low calorie food market, which in 2013 stood at US$7418.6 million, is projected to reach US$10414.7 million by 2019, thereby expanding at a CAGR of 5.9% from 2014 to 2019.
Greater Preference for Natural Sweeteners to Propel the Demand for Stevia
The global low calorie food market is segmented on the basis of product, application, and geography. On the basis of product type, this market is segmented into cyclamate, saccharin, stevia, sucralose, and aspartame. The market for aspartame is by far the largest within the application segment of the global low calorie food market. The popularity of sucralose is expected to surpass the overall demand for aspartame in the years to come. However, the market for stevia is growing robustly because of greater consumer preference for 100% natural products. Since stevia is a 100% natural sweetener, its demand is surging significantly.
Application-wise, the global low calorie food market is categorized into tabletop, healthcare, food, and beverages. The beverages segment is a rapidly growing one, with widespread use of low calorie sweetening agents in beverages, soft drinks, functional beverages, and sports drinks. The tabletop segment is also expanding robustly and is anticipated to grow favorably in the forthcoming years. People consume low calorie food in order to prevent the onset of diabetes and obesity related problem, which in the long run may prove to be fatal. The prevalence of obesity amongst children is also a major concern amongst parents, who try their level best to keep their children away from high calorie food stuff.
Asia Pacific Low Calorie Food Market to Witness Robust Growth during the Forecast Period
Geographically, the global low calorie food market is segmented into Asia Pacific, Europe, and North America. Owing to a large population base, high incidence of diabetes and obesity, growing geriatric population, and widespread health awareness, the Asia Pacific market for low calorie food holds the highest share in the global low calorie food market. Obesity has become a serious problem in China because of the fast food culture in the urban areas.
The North America market for low calorie food is led by the U.S. market, which is the largest in the region for low calorie foods. Europe holds the second highest share of the global low calorie food market after North America. With high incidence of diabetes in China and India, the Asia Pacific low calorie food market is expected to grow robustly during the forecast period.
The prominent companies in the global low calorie food market are Ajinomoto Co Ltd., Cargill Incorporated, McNeil Nutritionals LLC, Dr Pepper Snapple Group Inc., Zydus Wellness Ltd., Group Danone, Nestle SA, and PepsiCo Inc. amongst others.
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