Albany, NY -- (SBWIRE) -- 10/19/2016 -- With a global existence and diversified businesses, Cargill, Nestlé, PepsiCo, The Coca-Cola Co., and Groupe Danone are leading the market for low-calorie food across the world. The fragmented structure of this market points towards an intensively competitive landscape, with low switching cost and the presence of regional players fueling the competition within the market significantly.
While the established companies in the worldwide low-calorie food market are concentrating on collaborations, mergers, and acquisitions to normalize the competition, new entrants are focusing aggressively on product innovation to gain a foothold in this market.
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TMR estimates the global market for low-calorie food to rise at a CAGR of 5.90% during the period from 2014 to 2019, increasing from US$8.2 bn to US$10.4 bn by the end of the forecast period. The demand for sucralose has been higher than other low-calorie food products across the world and is expected to remain so over the next few years. The sales of sucralose is likely to cross US$3.9 bn by 2019.
Demand for Low-calorie Food to Remain Strong in North America
In this report, the global market for low-calorie food has also been analyzed geographically, considering Asia Pacific, North America, Europe, and the Rest of the World as the key geographical segments. On account of the growing pool of diabetic patients, increasing obese population, rising concerns over health and nutrition, and the changing lifestyle, North America has been leading the demand for low-calorie food across the world.
Thanks to the increased usage of low-calorie food products in beverages, the region is likely to continue its leading streak throughout the forecast period. The opportunity offered by the market for low-calorie food in North America is estimated to expand at a CAGR of 5.70% between 2014 and 2019. Europe is also witnessing a strong rise due to similar factors and is expected to remain experiencing steady growth over the next few years, notes the study.
Increasing Obesity to Reflect Positively on Demand for Low-calorie Food
Obesity is the root cause of a number of health issues in human beings. Obese people are more prone to diabetes, cardiovascular disorders, and various other health conditions. "The growing concerns over increasing obesity among kids and young consumers has compelled parents to keep a check on the calorie count their kids consume, shifting their preference towards low-calorie food," says the author of this study.
Along with this, the rising awareness among consumers regarding health and fitness is also fueling the demand for low-calorie food considerably, leading to an upswing in the growth of the overall market.
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High Cost to Discourage Uptake of Low-calorie Food
Although the growth prospects of the global market for low-calorie food are bright, it may face a severe challenge from the high cost of low-calorie food products in the near future. The limited competence of these products in terms of taste and the range of flavors is also expected to hamper the market's growth to some extent over the forthcoming years, states the research report.
The study presented here is based on a report by Transparency Market Research (TMR) titled "Low-calorie Food Market - Global Forecast, Share, Size, Growth and Industry Analysis, 2014 - 2019."