USD 3.3 billion
Report ID: SQSG30H2005 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 118 | Figures: 77
Fat Replacers Market size was valued at USD 3.3 billion in 2021 and is poised to grow from USD 3.51 billion in 2022 to USD 5.5 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).
Fat replacers are nonfat compounds that feel and taste similar to high-fat foods but contain fewer calories. They are made from starchy foods such as corn, cereals, and grains, as well as modified egg whites and whey from milk, and vegetable oils free of triglycerides. They are used to lower the fat content of a variety of foods, such as frozen desserts, processed meats, cheese, and sour cream. They are found in baked goods, yogurt, margarine, salad dressing, sauces, gravies, snack chips, and a variety of ready-to-eat (RTE) items.
US Fat Replacers Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.3 billion
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The Global Fat Replacers Market is segmented based on the Type, Application, Source, Form and region. Based on the Type, the Global Fat Replacers Market is segmented as Carbohydrate-based, Protein-based, and Lipid-based. Based on the Application, the Global Fat Replacers Market is segmented as Bakery & Confectionery, Dairy & Frozen Desserts, Convenience Food & beverages, Sauces, Dressings, and Spreads. Based on the Source, the Global Fat Replacers Market is segmented as Plant and Animal. Based on the Form, the Global Fat Replacers Market is segmented as Liquid and Powder. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Fat Replacers Market Analysis by Type
The Global Fat Replacers Market is classified into three types: carbohydrate-based, protein-based, and lipid-based. Carbohydrate-based fat substitutes dominate the market. Carbohydrate-based additives such as guar gum, xanthan gum, modified starches, oat fibre, and polydextrose work best in frozen desserts, meat, and baked goods. Protein-based goods are expected to grow at the fastest rate due to their widespread use in dairy beverages and frozen desserts. They have heat-resistant properties and help to improve texture and mouthfeel.
Fat Replacers Market Analysis by Application
Fat Replacers are commonly used in the food and beverage industries. Major application segments include bakeries and confectioneries, beverages, and convenience foods. The bakery and confectioneries segment had the largest market share in 2021, and it is expected to grow at the fastest rate during the forecast period. The beverage industry is expected to grow at a faster-than-average rate in the coming years. Protein-based additives are likely to benefit dairy and frozen desserts, drinks, bread, and confectionery goods.
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The Global Fat Replacers Market is divided into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The market for low-calorie foods and beverages in North America has expanded in recent years and is expected to grow steadily from 2022 to 2028. The US remains the largest market for confectioneries and dietary processed foods. In recent years, the trend of eating a nutritionally balanced diet has been projected to be a driving marker of growth all over the world. Asia Pacific is expected to grow at the fastest rate during the forecasted period due to increased population and rising nutrition requirements per person.
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Fat Replacers Market Driver
The increasing demand for fat-free dairy products offering flavor and taste similar to the traditional dairy products is resulting in new fat replacer development. Manufacturers are replacing expensive butterfat with vegetable fat owing to its cost-effectiveness and numerous health benefits,which is helping in fuelling the market.
The various government policies around the world to control the consumption of fat has helped in driving the market . Various policies that regulate and restrict trans fatty acids have been introduced in some countries. Switzerland, Denmark, and some states in the US have adopted regulatory approaches to controlling trans fatty acids in food products.
Fat Replacers Market Restraint
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The Global Fat Replacers market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their company globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Fat Replacers Market Top Player's Company Profiles
Fat Replacers Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Fat Replacers Market Analysis, Fat replacers are widely use in the food and beverage industries. Bakeries and confectioneries, drinks, and convenience foods are all major application segments. In 2021, the bakery and confectioneries segment had the biggest market share, and it is expected to increase at the fastest rate throughout the forecast period. Consumers are becoming more health-conscious, resulting in a greater preference for low-fat or fat-free food goods. This presents a lucrative potential for major fat replacers market players to innovate in product type as well as ingredients to grab the health-conscious consumer base.
|Market size value in 2021||USD 3.3 billion|
|Market size value in 2030||USD 3.51 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Fat Replacers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fat Replacers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG30H2005