While obesity and overweight conditions continue to remain a part of the bigger picture in the global low-calorie food market, factors such as the shift towards sedentary lifestyle and widening base of health-conscious population are also stoking the growth of the market. According to a report by Transparency Market Research (TMR), the global market for low-calorie food is poised to reach a valuation of US$10.41 bn by the end of 2019, progressing at a CAGR of 5.9% between 2013 and 2019. However, the growth of the market is hampered by the high cost of low-calorie food products, says a TMR analyst.
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Various studies indicate that the number of cases of obesity and overweight conditions reported is higher in developed countries than in developing or less-developed countries. This factor builds a strong foundation for the growth of the low-calorie food market in these regions. The U.S. in North America and the U.K. in Europe are the leading countries in terms of the number of obese people in the world. Throughout the forecast horizon, North America is anticipated to be the frontrunner in the global arena, closely trailed by Europe.
On the other hand, developing regions such as Asia Pacific and Latin America are expected to exhibit promising growth opportunities during the same period. In countries such as China and India, the expanding pool of patients suffering from diabetes is likely to trigger the demand for low-calorie food products.
On the basis of product type, sucralose is estimated to outpace all other segments in terms of CAGR. Approval from government bodies is one of the key factors that makes this segment edge over other segments. The European Union’s Scientific Committee on Food (SCF) has pegged it to be completely safe for consumption. Sucralose finds a wide range of applications in low-calorie food products such as salad dressings, table top sweeteners, fizzy drinks, baking mixes, chewing gum, and breakfast cereals. Apart from this, the market for stevia is also gaining traction, thanks to the increasing consumer inclination towards natural products and additives.