Increasing consumer awareness, rapid production in health food market and changing lifestyles are propelling the demand for the low-calorie food market over the forecast period. The market is expected to grow substantially in the future.
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The factors pertaining to the growth of the low-calorie food market are increasing aged population, changing lifestyles, increasing health awareness and increasing incidences of diabetes and obesity. However, the consumption of artificial sweeteners and high costs of these products are predicted to restrain the market over the next five years.
The low-calorie food market can be split into types, applications and geographies. The market, on the basis of types, can be segregated into sugar alcohol substitutes, sugar substitutes and nutrient based substitutes. Sugar substitutes are the most widely used substitutes.
The applications market includes snacks, baked products, dairy products, confectionary, dietary beverages and ice creams & jellies. Dairy products dominated the applications market. This was owing to the highest contribution of these products in the low-calorie food market. Beverages are expected to be the second largest application. This is as a result of increasing demand for health drinks worldwide.
Geographically, the low-calorie food market is split into four major regions, Asia Pacific, North America, Europe and ROW (rest of the world). North America captured the largest share in 2014 and was followed by Europe. Increased demand for the low-calorie food market in North America owes to improvements in technology and awareness regarding health.
Asia Pacific is the fastest growing region for the low-calorie food market. This owes to rapid proliferation in the food & beverages sectors in the developing countries of China and India.
Information Source: Grand View Research