Low Fat Product Market Overview
Global low fat product market is estimated to notice rapid growth over the forecast period. The factor that attributes to rise the low fat product market is growing health awareness among the population around the world.
Increasing problem of obesity, cardiovascular diseases and diabetes over the years have triggered the demand for low fat products and it is expected to fuel the market for low fat products. In developing countries such as India, China, Mexico and Brazil, changing lifestyle of consumers and rapid urbanization is anticipated to be a key driver for low fat products.
Increasing retail sector and increasing disposable income of consumer is expected to have favorable impact on low fat product market. Introduction of dietary supplements, low fat cereal bars and functional foods over past few years has increased the demand for low fat products because of the lack of physical activity and hectic and busy lifestyle.
Additionally, making investment in research and development is fostering product innovation in the low fat product market. The constant R&D activities are contributing growth in the global market of low fat products.
Low fat products consist of healthy cereals, low fat dairy products, low fat drinks and snacks. Advancement in technology and increasing automation process in the industry are estimated to boost the low fat product industry growth.
Changing preference of consumer across the globe regarding the intake of healthy, tasty and organic foods are predicted to propel the demand of low fat product market. Growing consumption and production of organic products in the European market is estimated to boost the low fat product industry.
Many companies are innovating their products due to increasing popularity of new and organic product in the market. The production of low fat products is mainly driven by the West Europe and the United State companies. The key player of this region such as Danone and Nestle are expanding their manufacturing units across the globe to make their products easily available to everyone.
Increasing Health Awareness and Changing Consumer Preference is Driving the Low Fat Market
Rising awareness about the health associated benefits from fat free products around the world is estimated to boost the demand for low fat products across the world. People are becoming more health conscious and they are choosing healthy diet over other foods to maintain a healthy lifestyle. Increasing number of obese population which is moving towards healthy lifestyle is making a positive impact on global low fat products.
Moreover, changing lifestyle is very common now a day, hectic and busy life compel the consumers to go for healthy foods which are low in fat and low in calories. Mostly, consumers are aware about the risk associated with their health with the consumption of high fat food and high calorie contain foods, thus it promote the market to increase the demand for products which promotes physical health with nutritional values by consuming low calorie and low fat products.
Increasing investment in research which in turn helps in product development and new products are launched to satisfy consumer’s needs. For instance, there is a lot of development happened in low fat dairy products such as introduction of low fat yogurt. In 2019, Danone had launched two yogurt lines that tap both low sugar and plant based trend.
The first is Greek low fat yogurt which is a dairy base product which include low sugar and low calorie. The second is Good plants it is a dairy free probiotic yogurt made with almond milk. Development and expansion of product portfolio boost the global low fat product.
Development in retail infrastructure drives the consumption of low fat products. Supermarket/hypermarket making is easy availability of products for consumer which is fueling the growth of global low fat products. Since the ingredients used in low fat products are costlier, hence the price of the product becomes costlier in comparison with other foods. This is one of the key restraints of the low fat products globally.
Low Fat Products: key Players
Some of the key players operating in global fat free product are as follows-
- Ajinomoto company Inc.
- Cargill, PepsiCo
- Arla food amba
- Bernard food industry
and many more. Many manufacturers of low fat products are moving towards product innovation by introducing new product variants in the existing product line, or by acquiring other companies which are already in the same market or they are expanding their geographical boundries by opening their new plant.
- For instance, in 2020 Tillamook launched a new yogurt in low fat yogurt product line. Oregon a United State company launched yogurt in six different flavors with no flavor, sweetener and preservatives. Each cup includes two side by side flavors which can be enjoyed one by one or by swirled together.
- In 2018, Arla food launched Arla fiber, a new range of yogurt which is rich in fibers. It is available in four different flavors. Its every serving contains 4.7 grams of fibers, its low in fat and high in protein and contain 27% of daily calcium.
- Breyers launched four new flavors of ice creams chocolate, vanilla, cookies & cream and mint chip. It clearly communicates on the front of the pack highlighting high protein and low sugar.
- In 2018, Cargill food launched low fat edible oil in India, revamping its Nature Fresh acti-lite array by positioning it as low fat cooking oil at affordable price.
Low Fat Products Market: Regional Analysis
North America dominates the market by holding the market share followed by Europe. Over the year the manufacture of low fat products has been globalized due to the growth of economic in developing nations. The demand of low fat product is driven by the key manufacturersavailable in western European regions.
The market of North America is driven by increasing intake of low fat dairy products in United State. A huge number of local players are present in United State and these manufacturers are trying to launch new variants or flavors in the product to rise their market share.
Asia pacific is growing as a budding market with increase in rate of consumption of low fat products in regions such as India, China and Japan. Changing preference of consumer and rising number of consumer choosing organic products is estimated to propel the demand of low fat product in the market.
Australia and New Zeeland are the key suppliers of processed milk in the region. The increasing export of dairy products from this country is predicted to boost the low fat product market during forecast period.
The research report presents a comprehensive assessment of the low fat product market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as application, product type, form, nature and sales channel.
The report covers exhaustive analysis on
- low fat product market Segments
- low fat product market Dynamics
- low fat product candy market Size
- low fat product Supply and Demand
- Current Trends/Issues/Challenges pertaining to low fat product market
- Competition Landscape and Emerging Market Participants inlow fat product market
- Technology related to Production/Processing of low fat product.
- Value Chain Analysis of the low fat product
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Low Fat Products: Market segmentation
On the basis of Source:
On the basis of Type:
- Low fat dairy products
- Ice cream
- Skim milk
- Low fat cereals products
- Low fat drinks
- Low fat snacks products
On the basis of Distribution Channel:
- Convenience store
- Specialty store
- Online retail