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The global reduced fat packaged food market is witnessing robust growth due to the growing demand of consumers for healthy packaged food products. The increase in consumption of packaged food by the consumers owing to the quickening pace of life and changing eating habits is having a major impact on driving the market. The increase in consumers' demand for healthy and low-fat food products has nudged the manufacturers to introduce new low-calorie snacks and meals, which in turn is boosting the market growth. For instance, In March 2020, the US snack producer ReGrained, launched ReGrained Puffs on a virtual platform, made by utilizing spent brewers’ grain. The product is organic and contains no saturated and trans fats.
The rising trend of consuming healthy ready-to-eat food due to its convenience by the working population and millennials has positively driven the reduced fat packaged food market growth. Various health benefits associated with the consumption of reduced-fat packaged food is gaining higher importance among the consumers participating in fitness activities. The increasing consumers' demand for organic food products has also fuelled its market growth.
The rising health consciousness among the consumers have driven the reduced fat packaged food market. The progressive health and wellness trends among consumers have led them to opt the low-fat, low-calorie food products, which has fuelled the reduced fat packaged food market growth. The rising rate of cardiovascular diseases, obesity, high blood pressure and others due to consumption of high-calorie food has shifted the consumer's preferences to reduced fat packaged food, which in turn is propelling its market growth.
Key Market Driver -
Rising Health Consciousness Among Consumers
Key Market Restraint -
High Price of Packaged Food Products
The comparatively high price of package food products than fresh food products is hampering its market growth. The developing economies where the consumers are price conscious prefer fresh food products over packaged food, which in turn is impeding the market growth.
The key companies operating in the global reduced fat packaged food market are, Dean Foods, Kellogg Co., General Mills Inc., Mondelēz Global LLC, The Kraft Heinz Company, PepsiCo, Inc., Danone S.A., Nestlé S.A., Arla Foods Inc., and Crowley Food LLC.
The dairy and meat, fish, and poultry products segments are leading due to the wide consumption of low-fat dairy and meat products by the health-conscious consumers for keeping the health risks at bay. The reduced-fat packaged dairy and meat products such as tofu, skimmed milk, low-fat or fat-free yogurt, lean smoked ham, water-packed tuna, and others due to the lesser fat content and presence of more amount of essential nutrients are increasingly adopted by consumers.
The supermarkets and hypermarkets are one of the leading sales channels for purchasing reduced fat packaged food due to the availability of a wide variety of reduced-fat packaged food in different brands and price ranges. The enhanced purchasing experience offered by the mass merchandisers such as distinct product shelves, bundling discounts, and the convenience of buying all the household products under a single roof. The online retail segment is another rapidly growing distribution channel. This segment offers a virtual platform for purchasing the products, that are available in numerous brand options and at discounted prices.
North America is witnessing a significant growth in the reduced fat packaged food market. The increase in consumption of low-fat packaged food by the health-conscious consumers is driving the market. The fast-paced lifestyles, rising health concerns, and the increase in consumption of ready-to-eat food have boosted the reduced fat packaged food market growth.
Europe is expected to witness significant growth in the upcoming years. The convenience and health benefits associated with reduced fat packaged food are the factors leading to its growing popularity among the consumers. The reduced-fat packaged food is a healthy alternative to other packaged snacks and food due to their lowered fat content which has aided in its regional sales performance.
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Asia Pacific is anticipated to foresee significant growth in the upcoming years. The rapid urbanization and wide acceptance of westernized culture have also led to the consumers' inclination towards reduced fat packaged food. The rising millennial population and the growing health-consciousness among them have led to an increase in the consumption rate of reduced fat packaged food thus, fuelling its market growth.
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