by Low-calorie foods are substitutes for standard foods and beverages that are formulated to provide less calories per serving. They satisfy hunger and reduce calorie intake for weight management. Low-calorie foods offer similar sensory experiences as their regular counterparts and include products such as low-calorie soft drinks, juices, dairy products, baked goods, snacks, cereals and desserts. The various health benefits associated with low-calorie foods such as weight management, reduced risk of obesity, diabetes and heart disease have contributed significantly to their rising demand globally.
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 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing demand for plant-based low-calorie foods is one of the major trends being witnessed in the market. With growing health awareness and concern for animal welfare, demand for plant-based foods is accelerating. Plant-based low-calorie foods such as protein bars, shakes, packaged snacks and desserts offer similar nutrition as their animal-based counterparts but with lower calories. They are perceived as healthier alternatives and help consumers meet their nutrition and weight management goals in a sustainable way. Furthermore, advancements in food technology have enabled development of tasty and satisfying plant-based low-calorie food products. The availability of diverse and innovative plant-based low-calorie food options is expected to drive the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the low-calorie food market is moderate. Established brands have strong brand loyalty and economies of scale which make it difficult for new companies to enter.
Bargaining power of buyers: The bargaining power of buyers in the low-calorie food market is high. Buyers have a lot of options and substitutes available and switching costs are low.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. There are many raw material suppliers for low-calorie food products but some key materials have limited sources which gives them some power.
Threat of new substitutes: The threat of new substitutes is high for low-calorie food. Products focused on health, nutrition and weight loss continue to emerge as substitutes.
Competitive rivalry: Competition in the low-calorie food market is high among existing brands. Companies compete on innovation, brand, promotion, variety and pricing.
Key Takeaways
The Global Low-Calorie Food Market Size is expected to witness high growth over the forecast period of 2023 to 2030. 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 3.7% over the forecast period 2023 to 2030.
Regional analysis shows that North America currently dominates the market followed by Europe. Asia Pacific is expected to be the fastest growing market owing to rising health awareness. The low-calorie food regional analysis shows that Europe is also a significant and fast-growing market. Countries like UK, Germany, France and Italy have seen increased demand for low-calorie snacks, drinks and packaged food. Populations focus on fitness and maintaining active lifestyles has supported market growth. Rising obesity rates have further encouraged consumption of diet and low-cal foods.
Key players operating in the low-calorie food market are GE Healthcare, Philips Healthcare, NIHON KOHDEN CORPORATION, Schiller AG, and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. Low-calorie food products are gaining popularity around the world as consumers increasingly focus on health, nutrition and weight management. Major brands continue to innovate and launch new product varieties.
