Low-calorie Food Market to Touch $10,414.7 Mn by 2019
Persistence Market Research Released New Market Report on “Global Market Study on Low-calorie Food: Stevia to Witness Highest Growth by 2019,” the global Low-calorie food market was valued at USD 7,418.6 million in 2013 and is expected to grow at a CAGR of 5.9% from 2014 to 2019, to reach an estimated value of USD 10,414.7 million in 2019.
Low-calorie food segment is the major growing segment of the global health food market. Growing health concerns and changing consumer lifestyle favoring low-calorie foods are the major driving factors for this industry. Other major reasons include increasing diabetes concern and rising obesity levels. In recent times, obesity has become one of the most challenging health problems in the world. According to the WHO, the number of overweight children under the age of five in 2010 was around 42 million, globally. Obese people are more likely to develop diseases such as diabetes and cardiovascular diseases at a young age. High obesity rate among children is a major concern for parents, which compels them to keep their children away from high calorie food and opt for low-calorie food. People have started consuming low-calorie products as precautionary measures to avoid obesity and diabetes, which can further lead to more fatal conditions.
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Low-calorie food products are available in almost all general food segments such as dairy products, baked products, confectionery, and dietary beverages. One of the major growth challenges for the industry includes artificial sweeteners, which are sometimes perceived to be cancer supportive. Such claims create confusion in the customer’s mind, hampering the growth of the low-calorie food market. The U.S. is the largest market for low-calorie food, followed by the European countries. The developing nations in the Asia-Pacific region are expected to show high growth in the next five years.
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Emerging markets such as China and India have rising number of diabetes patients, fuelling the demand for low-calorie food. For instance, low-calorie products such as Sugar Free, Glucerna SR, and Splenda tablets are in great demand among diabetic patients. Asian countries are witnessing increasing urbanization and higher disposable income that act as opportunities for premium pricing low-calorie food.
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