U.S-based market research and analysis firm Transparency Market Research announces the publication of a new research report. The report states projects the global low calorie food market to expand to a total market value of US$10,414.7 million by 2019. The market for low calorie foods was worth more than US$7,400 million in 2013 and will display a 5.9% CAGR between the end of 2013 and the end of 2019 if these figures hold true.
As per the World Health Organization (WHO), obesity and overweight conditions in people have resulted in about 44% of diabetes, 7–41% of certain cancers, and 23% of ischaemic heart disease, worldwide. Another disturbing figure released by the WHO shows that around 42 million preschool children were overweight in 2013. Such alarming instances of obesity and overweight issues that often result in chronic maladies such as diabetes have been the single-most important driver of demand in the global low-calorie food market.
The increasing prevalence of lifestyle conditions such as obesity and often-consequent diabetes are leading to the increased demand for low calorie food. Growing health awareness among the populace has increased visibility of the low calorie food market, which has emerged as a viable solution to obesity.Obesity is particularly rampant in developed countries such as the U.S., the U.K., and Australia, all three of which have an obesity prevalence of more than 20% in their total population. This spells good news for the global low calorie food market, as stated in the report.“The relatively higher prices of low calorie foods had made it harder for the market to expand in APAC and RoW regions so far, so the market had been reliant on the developed world for most of its revenue. However, this could change in the next few years, with APAC and RoW countries gaining in purchasing power,” a senior TMR analyst said.
The report zeroes in on the potential development of the Asia Pacific and Rest of the World markets for low calorie food in the coming years and presents it as a promising opportunity for low calorie food manufacturers around the world. The low calorie food markets in China, India, and Brazil are examined in detail, since these countries have a high diabetic population.The report segments the global low calorie food market by type of sweetener into stevia, saccharin, sucralose, aspartame, and cyclamate. Of these, aspartame emerged as the market leader in 2013 owing to its easy substitutability with sugar in terms of taste and product preparation. However, it is unsafe for some demographics, including children. As a result, stevia and sucralose have enjoyed a surge in demand of late, with the market for stevia in particular expected to exhibit strong growth in the near future. Stevia has the advantage of having an extremely low glycemic index of these, as it releases zero to little glucose into the bloodstream upon digestion.
The report puts major companies operating in the global low calorie food market under the microscope by examining their product segmentation, financial performance over recent years, and recent developments in the industry. Companies profiled in the report include Nestle SA, PepsiCo, Inc., The Coca-Cola Company, Abbott Laboratories, and Group Danone.
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