Increase in awareness regarding the excessive Fat Consumption drives the Demand for Fat Replacers Market

According to WHO, in 2020 1.9 billion adults are overweight or obese and 38.9 million children were overweight or obese. The health consequences of obesity are responsible for 2.8 million preventable deaths per year. Awareness of fat consumption is also growing with a growing healthy diet. A healthy diet helps to protect against malnutrition in all its forms, as well as non-communicable diseases (NCDs), including diabetes, heart disease, stroke, and cancer. Social media online platforms, such as Facebook and Twitter, are promising instruments to increase awareness about fat consumption. In 2012, the World Health Organization (WHO) also launched the global eHealth strategy to encourage promoting, developing, and evaluating actions involving these platforms.

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Data Bridge Market Research analyses that the fat replacers market is expected to grow at a CAGR of 6.2% in the forecast period of 2022 to 2029 and is expected to reach USD 3,495.56 million by 2029. The rise in demand for exotic and unique flavor foods and an increasing number of manufacturers launching new flavored fat replacers are expected to drive the global fat replacers market.

High Consumption of Convenience Food is expected to drive the Market's Growth Rate

The consumption of convenience food (which includes include ready-to-eat dry products, bread, cheese, salted food) is increasing with growing preferences of convenience foods, surging levels of investment for the development of cold chain, increasing disposable income of the people, changing lifestyle, and growing trade of processed food. Also, consumption of convenience food is increasing with the demand for dinner time solutions by present-day consumers is increasing rapidly, as meal intake conduct amongst consumers is shifting substantially. While individuals increasingly lack the time and ability to prepare food in their homes, many consumers are willing to spend money geared up to spend money in the ready-to-eat market. And this factor has increased the demand for convenience food. These products are the main source of fat content due to which the demand for fat replacer is increasing in these products. Thus, increasing convenience food consumption is expected to act as an opportunity for the global fat replacer market.

Report Scope and Market Segmentation

Segment Analysis:

The global fat replacers market is segmented on the based on type, source, category, form, and application.

• On the basis of type, the global fat replacers market is segmented into carbohydrate-based, protein-based, and fat-based. In 2022, the carbohydrate-based segment is expected to dominate the fat replacers market growing with the CAGR of 5.7% in the forecast period of 2022 to 2029 due to growing demand for carbohydrate based fat replacers to mimic some of the properties of conventional fats.
• On the basis of source, the global fat replacers market is segmented into plant and animal. In 2022, plant segment is expected to dominate the market growing with the CAGR of 6.5% in the forecast period of 2022 to 2029 owing to growing vegan and vegetarian population across the globe.
• On the basis of category, the global fat replacers market is segmented into clean label and conventional. In 2022, the clean label segment is expected to dominate the fat replacers market growing with a CAGR of 6.5% in the forecast period of 2022 to 2029 due to growing consumption of clean label ingredients among consumers.
• On the basis of form, the global fat replacers market is segmented into liquid and dry. In 2022, dry segment is expected to dominate the fat replacers market growing with the CAGR of 6.6%

The dry segment is expected to dominate the fat replacers market growing with the CAGR of 6.6%

In 2022, dry segment is expected to dominate the fat replacers market growing with the CAGR of 6.6% in the forecast period of 2022 to 2029 as dry form fat replacers are easy to use and maintain as compared to liquid form fat replacers

• On the basis of application, the global fat replacers market is segmented into bakery, dairy products, sauces, soups, & dressings, convenience food, processed food, confectionery, processed meat, functional food, and others.  In 2022, the bakery segment is expected to dominate the fat replacers market growing with a CAGR of 6.6% in the forecast period of 2022 to 2029 due to increasing demand for healthy snacks with reduced fat content.

Major Players

Data Bridge Market Research recognizes the following companies as the major fat replacers market players in fat replacers market are Bayer AG (Germany), Abbott (U.S.), DSM (Netherlands), DuPont. (U.S.), Amway (U.S.), The Nature's Bounty Co. (U.S.), GlaxoSmithKline plc. (U.K.), Nestlé (Switzerland), RiceBran Technologies (U.S.), Mead Johnson & Company, LLC. (U.S.), Medifast, Inc. (U.S.), Premier Nutrition Corporation (U.S.), TOOTSI IMPEX Inc. (Canada), U.S. Spice Mills, Inc. (U.S.), Health Food Manufacturers' Association (U.K.), NOW Foods (U.S.), Glanbia PLC (Ireland), Herbalife International of America, Inc. (U.S.), and Bionova (India), among others.

Market Development

• In May 2019, Ingredion Incorporated introduced new clean label starch to reduce fat and build indulgent textures. It enables food producers to improve mouthfeel by offering the same functionality as modified starch while replacing or reducing fat. This has helped the company to widen its product portfolio
• In October 2021, Tate & Lyle made a distribution agreement with IMCD, a global leader in the sales, marketing and distribution of specialty food ingredients and flavors, in Italy. This agreement has helped the company in regional expansion

Regional Analysis

Geographically, the countries covered in the fat replacers market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).

As per Data Bridge Market Research analysis:

North America is the dominant region in fat replacers market during the forecast period

North America dominated the fat replacers market owing to the o increase in awareness among people about excessive consumption of fat. North America will continue to dominate the fat replacers market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period.

Asia-Pacific is estimated to be the fastest growing region in fat replacers market

Asia-Pacific is expected to grow during the forecast period due to the growing health consciousness among people in this region. In addition to this, the increase in participation of people in weight loss management programs is expected propel the market's growth rate in this region.

COVID-19 Impact on Fat replacers Market

The COVID-19 pandemic had a positive impact on the fat replacers market. The pandemic is the reason people have indeed become more receptive to health. The wave of COVID-19 devastated the whole world and changed people's perspective towards health. The prevalence of the pandemic has brought about a tidal shift in consumer behavior globally. A sudden sense of inquiry has seeped into the minds of people. They want to know what they eat, where it comes from, which ingredients it provides to your body and how it benefits the body, amongst others. The corona-virus pandemic is another driving force changing the lifestyle of consumers towards consuming convenience foods because most nations are forced to restrict movement and lockdown their borders. The need for pre-prepared meals is paramount within this period, especially in the US, where the pandemic is hitting the nation hard. As a result, the market is projected to grow and expand even during the pandemic.

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