Greater
healthcare awareness and high incidence of lifestyle diseases is
contributing to the growth of the global low calorie food market.
People these days make a conscious effort to avoid consuming
fattening and calorie-dense food. Conditions such as diabetes and
obesity are stimulating the demand for low calorie foods. Another
prominent factor driving the global
low calorie food market is the growing geriatric population.
The
value of the global low calorie food market in 2013 had exceeded
US$7,400 million. Growing at a CAGR of 5.9% between 2013 and 2019,
this market is anticipated to reach a value of US$10,414.7 million by
the end of the forecast period. As per the World Health Organization,
the global population of overweight children in 2010 was registered
at 42 million. Obesity amongst children is becoming a major cause of
concern all over the world today.
Developed
Countries: Largest Contributors to the Global Low Calorie Food Market
The
problem of obesity is by far the highest in the U.S., where more than
35% of the total population is obese. With an obese population of
28.3% of the total, Australia is the leader in Asia Pacific. The
demand for low calorie food in emerging markets such as Brazil,
China, and India is on the rise owing to high incidence of diabetes
in these regions.
The
U.S. is the largest market for low calorie food, followed by Europe
and emerging markets of Asia Pacific, which are likely to exhibit
rapid growth over the next couple of years. The global low calorie
food market derives much of its revenue earnings from the developed
world, since the expansion of this market in the Rest of the World
and Asia Pacific regions is hampered by the steep prices of low
calorie foods. As a result, the performance of the global low calorie
food market relies immensely on the demand for low calorie food from
developed economies.
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Some
of the prominent companies in the global low calorie food market are
Cargill Incorporated, Groupe Danone, McNeil Nutritionals LLC, Nestle
SA, Bernard Food Industries Inc., Ajinomoto Co Inc., and the
Coca-Cola Company.
Stevia:
Dominant Product in the Global Low Calorie Food Market
The
global low calorie food market is segmented on the basis of product,
application, and geography. On the basis of product, this market is
categorized into saccharin, aspartame, cyclamate, stevia, and
sucralose. Aspartame is the most extensively consumed artificial
sweetener in the overall market. However, the market is currently
witnessing surging demand for sucralose as well.
Greater
inclination towards natural food products is driving the market for
stevia. The high demand for stevia can be attributed to it being a
100% natural sweetener. This is creating stiff competition for
intense sweeteners such as sucralose, saccharin, and even aspartame.
It is, however, anticipated that the market for sucralose will expand
rapidly during the forecast period.
Application-wise,
the global low calorie food market is segmented into tabletop,
healthcare, food, and beverages. Ongoing market trends indicate that
the use of low calorie food products will mainly be seen in the
beverages market and will increase at a CAGR of 5.9% in the
forecasting horizon.
The
adverse health impacts of artificial sweeteners and the taste factors
associated with low calorie foods, hamper the growth of the global
low calorie food market.
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