The global fat replacers market is anticipated to show substantial growth during the forecast period as preference for low-fat food increases. Insights on this trend have been shared by Fortune Business Insights in its report, titled “Fat Replacers Market Size, Share And Global Trend By Product Type (Protein-based, Carbohydrate-based, Lipid-based), By Source (Plants, Animals), By Application (Bakery & Confectionery, Convenience Food, Processed Meat Products, Dairy & Frozen Desserts, Sauces & Dressings, Beverages), And Geography Forecast Till 2029”. The report highlights the key factors effecting growth in the market. Fat replacers or fat mimetics are essentially non-fat substitutes to regular fat in food. They look, taste, and act like natural fats but contain a lesser number of calories. Fat replacers can be found in a variety of foods ranging from baked goods to gravies. They can be carbohydrate-based, protein-based and fat-based.
Increasing Health Consciousness to Boost the Market
The global fat replacers market is set to gain from the increasing concern of people towards their health. While fat gives food its texture and flavor and also packs in large amounts of energy, its excessive consumption, mainly through processed and junk food, has caused multiple health problems. For example, many studies have found that rising prevalence of obesity and cardiovascular diseases have direct links to overconsumption of fatty foods. As people are getting more health conscious, they are altering their eating habits and looking for substitutes to saturated fats. The global fat replacers market size is expected to expand as a result. In addition, government awareness programs highlighting and promoting the benefits of fat replacers will add fuel to this fast growing market.
Of all the market segments, bakery and confectionary is expected to have the largest market share in the forecast period. This is attributable to the growing demand for low-fat confectionary items such as cakes and pastries. Dairy and dairy products segment is also expected to rise as more and more people turn towards unsaturated fats and higher protein intake. The global fat replacers market is, thus, poised to grow considerably during the forecast period.
Misconceptions About Fat Replacers May Hinder Market Growth
Since fat replacers are marketed as having fewer calories, there is a possibility that consumers might misconstrue their purpose and expect weight reduction upon their consumption. This can also lead to over consumption of fat-replaced food products which can negatively impact consumer health. Furthermore, fat replacers cannot completely mimic properties of fat. The compromised sensory properties of the fat mimetics can affect the taste and texture of food. The global fat replacers market growth is expected to be restrained by these factors in the forecast period.
Vast Opportunities for Key Players
The global fat replacers market presents great opportunities for participants wishing to carve a niche for themselves. Competition can already be seen with key players launching new products and rising investment in R & D by companies. For example, in June 2019, Epogee, a US-based fat replacement start-up, launched a fat replacer they claim can reduce fat from rapeseed oil by close to 92% without negatively impacting taste or texture. In the UK, Ulrick & Short launched Delyte 10, a fat replacer in pastries, that they claim can mimic properties of fat and butter up to 25%. Thus, the market size is expected to grow as the competition increases in the coming decade.
Some key players identified by Fortune Business Insights include FMC Corporation, Kraft Foods Inc., Pfizer Inc., Cargill Incorporated, Ingredion Inc., among others.
The Asia-Pacific Market Anticipated to Exhibit Fast Growth
Among the regions, Asia-Pacific is expected to register high growth on account of their rapid rate of population increase. Rising incomes in this region has increased demand for food and beverages. As the populations grow more health conscious, they are expected to show a stronger proclivity to healthy food. The global fat replacers market is slated to expand as a result. In North America, preference for low-fat food is increasing on account of rising obesity among the people. This will further aid the growth and development of the market.
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