The Global Market for Fat Replacers is Projected to Exceed US$2 Billion by 2024
Shifting
Consumer Focus to Health & Weight Management Drives Growth in the Global Fat
Replacers Market, According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size, and demand forecasts on the global Fat Replacers market. The global market for Fat
Replacers is projected to exceed US$2 billion by 2024, driven by the obesity
epidemic sweeping through the developed and developing countries alike; rising
consumer emphasis on healthy weight management and the resulting increase in
demand for low calorie, low fat functional foods.
Fat
replacers, also known as fat substitutes, are ingredients offering functional
properties similar to fat, but with relatively low fat content. While fat, a
vital source of energy is crucial for the functioning of the human body,
excessive consumption raises the risk of numerous diseases such as obesity,
coronary heart disease (CHD), high cholesterol, as well as certain types of
cancer. With rising incidence of obesity and associated diseases worldwide
emerging as a major health concern, the food & beverage industry is under
immense pressure from regulatory authorities to reduce fat and sugar content in
processed products. Further, there has been a shift in consumer preference for
low-fat, non-fat and fat-free food & beverage products. As a result,
manufacturers of processed foods are looking for alternatives to fat in food
products as a strategy to sustain profit margins and echo consumer sentiment. The
market for fat replacers is also expected to benefit from the propagation of
low fat diets by healthcare associations and practitioners. Also, technology
developments that enable use of fat replacers without the least impact on food
flavor and texture, have aided in its widespread use.
The
multi-billion dollar global food additives market is on a steady
growth path, thanks to globalization trend that has led to significant movement
of people all across the world. The wide range of tastes and their confluence
has led to increased demand for additives across all regional markets. Developing
markets are also witnessing increasing preference for fast foods, owing to
rising affluence and fast-paced lifestyles. Ready-to-eat foods have gained
increased popularity in almost all urban centers across developing countries,
creating new opportunity for the additives market. Trends in this sector are
directly dependent upon the dynamics of the food and beverage industry. As the
war on obesity intensifies, dairy products, deemed the largest source of fat,
have witnessed a transformation with the launch of several low-fat, non-fat and
reduced-fat products. Another interesting trend in the food habits of people is
the rising awareness about health benefits and health exigencies that are
associated with various dairy products. Reducing cholesterol content and the
vascular susceptibility to fat clogging have transformed into issues of immense
public interest. With reducing fat in dietary intake deemed the most ideal
measure of weight management, there is increased demand for products such as
skimmed milk, low-fat ice-cream, fat-free or low-fat yogurt, and low-fat butter
and cheese. Manufacturers have also begun launching low-fat or fat-free
ice-creams, sorbets and yogurt in order to capitalize on the rising demand for
fat-free dairy products.
As
stated by the new market research report on Fat Replacers, the United States commands
the largest share of the market, owing to the large concentration of food
processors in the region, followed by Europe. Asia-Pacific region is forecast
to emerge as the fastest growing market with a CAGR of 8.4% over the analysis
period. Changing lifestyles and dietary preferences in emerging markets is
leading to higher consumption of processed foods, and subsequently increased
consumption of Fat Replacers, and other Food Additives. By product,
Carbohydrate-Based
Fat Replacers, represent the largest segment for Fat Replacers, while Protein-Based
Fat Replacers represent the fastest growing segment. Fat-Based
Fat Replacers are forecast to register below average
growth over the analysis period owing to the evolution of better alternatives.
Major
players in the market include Advanced Food Systems, Inc, Archer Daniels
Midland Company, Ashland Global Holdings Inc., CP Kelco, Cargill, Incorporated,
DowDuPont Inc., Grain Processing Corporation, Ingredion Incorporated, TIC Gums,
Inc., Kerry Group Plc, P&G Chemicals, PGP International Inc, Royal DSM
N.V., and Tate & Lyle PLC among others
The
research report titled "Fat Replacers: A Global
Strategic Business Report" announced by Global Industry Analysts Inc., analyzes a wealth of
data including technological trends, growth drivers and major challenges that
are shaping the global Fat Replacers market, as well as profiles of leading
vendors, mergers, acquisitions and other strategic industry activities. The
report provides market estimates and projections in US$ for major geographic
markets including the United States, Canada, Japan, Europe (France, Germany,
Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and
Rest of Asia-Pacific), and Latin America (Brazil, and Rest of Latin America),
and Rest of World. Product Segments analyzed in the report include
Carbohydrate-Based Fat Replacers, Protein-Based Fat Replacers, and Fat-Based
Fat Replacers.
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enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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