Growing Consumption of Low-Fat Food Products Positions Fat Replacer Market to Surpass US$ 3.5 Bn by 2031
NEW YORK, Jan. 3, 2022 /PRNewswire/ — As per latest Fact.MR analysis, the global fat replacer market is set to top US$ 2 Bn by the end of 2021. Rapid adoption of fat replacers in food and beverage industry is the major factor propelling the sales at a healthy CAGR of 6%, surpassing US$ 3.5 Bn by 2031.
Rising demand for low-fat diets, growing health awareness among people, expanding food & beverage industry and increasing prevalence of diabetes are some of the factors driving the fat replacer market.
Fat replacers are substances used to mimic and replace fats in the food without compromising the taste and texture of food. They are being extensively utilized for the manufacturing of low-fat foods, beverages and dairy products.
Further, growing concerns regarding the surge in heart related diseases is a major factor propelling the growth of fat replacers market. According to the World Health Organization (WHO), the global cases of obesity has nearly tripled since 1975. An estimated 1.9 billion adults aged 18 years and older were overweight in 2016. Out of this number around 650 million people were obese.
Subsequently, it has been found that obesity and overweight can give rise to multiple chronic diseases such as osteoarthritis, and kidney failure. As a result, people are increasing the consumption of low-fat foods. This, in turn, is triggering the growth in fat replacer market.
Moreover, various international and national organizations are launching initiatives to cut down the consumption of fats and promote the use of fat alternatives. For instance, in 2018, the WHO launched the REPLACE initiative to eliminate industrially produced trans fats.
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Similarly in November 2018, the Food Safety and Standards Authority of India (FSSAI) launched a new mass media campaign (Heart Attack Rewind) calling for the elimination of industrially produced trans-fat in the food supply.
As per Fact.MR, carbohydrates-based fat replacers will remain the most consumed products accounting for over 50% of the market share by 2031. Carbohydrate based fat replacers have the ability to retain moisture and create the same texture as that of fats. They are being increasingly utilized in confectionery industry.
Regionally, North America will continue to dominate the global fat replacer market, accounting for a major share of 45% over the forecast period. Growth in the region is attributed to the increasing prevalence of heart related diseases, growing health consciousness, expanding food and beverages industry and presence of leading market players.
“Increasing incidence of chronic diseases such as atherosclerosis, obesity and diabetes is prompting consumers to opt for low-fat diets. This is anticipated to drive the fat replacers market during the forecast period,” says a Fact.MR analyst.
Key Takeaways from Fat Replacer Market Survey
- With increasing prevalence of obesity and growing adoption of fat replacers, the North America market is projected to reach US$ 1.3 Bn through 2031.
- The fat replacer market in Asia is anticipated to grow at a CAGR of 6% on account of surging heart related diseases and growing health awareness among people regarding the benefits of fat replacers.
- The U.K. fat replacers market is poised to exhibit strong growth due to rapid adoption of fat replacers across food and beverage industries.
- By application, bakery and confectionery products segment is projected to account for the largest market share of 40% during the forecast period.
- Based on ingredients, carbohydrate-based fat replacer category will account for half of the global market share through 2031.
- Rising preference for organic food products will continue to boost the sales of plant-based fat replacers during the forecast period.
- Increasing government initiatives to tackle the global burden of heart related diseases is anticipated to create lucrative growth avenues within fat replacer market.
- Surging sales of food and beverages products through online shopping platforms also supports the growth in the market.
- Lack of health awareness in some developing and underdeveloped regions is restraining the growth in fat replacer market.
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Leading players operating in the fat replacer market have are aiming at expanding their global footprint through advanced product launches. Besides this they have adopted various growth strategies such as mergers, collaborations, partnerships and acquisitions to increase their sales.
- In June 2020, Epogee LLC announced that its revolutionary new fat alternative, EPG, has achieved additional GRAS (Generally Recognized As Safe) status by the U.S. Food and Drug Administration (FDA). EPG is a GMO-free, modified plant-based oil that allows food and beverage manufacturers to dramatically reduce calories without affecting the taste and texture features. The product is now approved for use in expanded food and beverages products.
- In July 2020, Epogee LLC showcased EPG, a low-calorie alternative fat technology made from GMO-free plant-based oil, at the 2020 Institute of Food Technologists Annual Meeting and Food Expo (IFT20) virtual event. The company claimed that it is the only ingredient available on the market today that can cut up to 92% of calories from fat, without compromising taste or texture
- In November 2021, Mycorena, one of the fastest-growing food-tech companies known for their mycoprotein, announced their latest breakthrough innovation with the launch of a unique fungi-based fat ingredient.
Some of the prominent players operating in the fat replacer market profiled by Fact.MR are:
- Cargill Inc.
- Kerry Group Plc.
- Tate & Lyle Plc.
- Ingredion Incorporated
- Royal DSM N.V
- Ashland Global Holdings Inc.
- Archer Daniels Midland Company
- FMC Corporation
- Corbion N.V
- Associated British Foods Plc.
More Insights on the Global Fat replacer Sales Outlook
Fact.MR provides an unbiased analysis of fat replacer market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for fat replacer with a detailed segmentation on the basis of:
- Powdered Fat Replacers
- Liquid Fat Replacers
- Plant-based Fat Replacers
- Animal-based Fat Replacers
- Carbohydrate-based Fat Replacer
- Protein-based Fat Replacer
- Lipid-based Fat Replacer
- Fat Replacers for Convenience Food and Beverages
- Fat Replacers for Bakery and Confectionery Products
- Fat Replacers for Sauces, Dressings and Spreads
- Fat Replacers for Dairy and frozen Desserts
- Fat Replacers for Other Applications
Key Questions Covered in the Fat Replacer Market Outlook Report
- The report offers insight into fat replacer demand outlook for 2021-2031
- The market study also highlights projected sales growth for fat replacer market between 2021 and 2031
- Fat replacer market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Fat replacer market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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