New research shows that the fat replacers market is becoming an increasingly profitable one as consumers become increasingly health-conscious.
New research from MarketsandMarkets™ has revealed that the fat replacers market is estimated to be worth US$1.48 Billion in 2017, and is projected to reach USD 2.01 Billion by 2022, at a CAGR of 6.2% from 2017. Major factors driving this increase are the increasing consumer awareness about health & wellness, and the rise in prevalence of obesity.
The protein-based fat replacers segment is projected to be the fastest-growing in this market. Already, protein consumption is growing in demand for health and aesthetic purposes, and the demand for food products with high-protein but low-fat content is expected to contribute significantly to the growth of the protein-based fat replacers market.
The bakery & confectionery products segment has so far accounted for the largest share in the fat replacers market. Consumers in developed regions such as North America and Europe have become increasingly conscious about leading a healthy lifestyle, leading to a demand for the reduction of fat content in bakery & confectionery products. Products such as cakes and pastries increasingly require fat replacers for consumers who demand low-fat and low-calorie options. This trend has led to considerable market opportunities for bakery & confectionery products segment during the forecast period.
In terms of growth though, the liquid segment is projected to be the fastest-growing in the market. The rise in demand for convenience foods is likely to drive the market for liquid fat replacers as they are used to replace fatty oils, thereby contributing significantly. They also provide a glossy texture and help prevent stickiness on confectionery products.
Additionally, Asia Pacific is projected to be the fastest-growing region in this area due to its growing economy. Various factors such as rapid urbanization, changes in lifestyle, and increase in demand for convenience products are driving the growth of the food & beverages sector. China especially has witnessed rapid growth in this market due to concerns about the adverse effects of fats and calories, and a growth in consumer awareness regarding the maintenance of a healthy diet. The high consumption of convenience foods in countries such as India, China, and Malaysia is expected to drive the demand for fat replacers in these regions.
Currently, key players in the fat replacer market include ADM (USA), DuPont (USA), Cargill (USA), Kerry Group (Ireland), FMC Corporation (USA), Ashland Inc (USA), Ingredion (USA), and Koninklijke DSM (Netherlands).
Source: Asia Food Journal