These days’ low fat and low carb are the several types of dietary approaches that are being followed by the consumers for the improvement and maintenance of health. Consumption of fat free foods is one of the simplest ways to remove extra calories from the diet. Doctors are advocating about the consumption of fat free foods, this is because the calories from fat are higher as compared with carbohydrates or protein.
Obesity is associated with the risk of other diseases, due to growing health concern the consumers are switching towards fat free foods. As fat free foods contain less than 3 grams of fat and this type of food products are gaining more and more consumer traction. According to the report of the Calorie Control Council, there are around 80% of consumers who are consuming low-fat or fat free foods, in the United States. However, the increasing health consciousness among the population regarding their food choices is the key factor that is surging the fat free foods demand.
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Rising Health Concern among the Population Surging the Demand for Fat Free Foods
Fats are one of the vital dietary component, which is essential for the body, however, its excess consumption causes several health issues. Rendering to the recommendation of The U.S. Department of Agriculture, the reduction of dietary fat prevents obesity, and its associated health risks such as cancer, cardiovascular diseases, and stroke. These are the major concern among the consumers regarding inclination towards fat free foods.
Although, adoption of fat free foods is a positive way to advantageous eating, and is important to maintain the consumption of beneficial fats. These days, consumers are shifting from animal-based food products to plant-based food products. Manufacturers of food products have incorporated several fat free foods such as fat-free milk, meat, sauce, snacks, and drinks among other products owing to increasing consumer demand. These are major trends across the globe which is pushing the demand fat free foods and is anticipated to grow over the forecast years.
Global Fat Free Foods: Market Segmentation Based on nature, fat free foods market can be segmented as-
Based on source, fat free foods market can be segmented as-
Based on sales channel, fat free foods market can be segmented as-
- B2B (Direct Sales)
- B2C (Indirect Sales)
- Store-based Retailing
- Convenience Stores
- Specialty Stores
- Other Retailing Formats
- Online Retailing
- Store-based Retailing
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Global Fat Free Foods Market: Key Players
The key manufacturers operating in their business in fat free foods market include Cargill, Incorporated, Bunge Limited, Archer-Daniels-Midland Company, Kraft Foods Group Inc., Gujarat Co-operative Milk Marketing Federation Ltd., Danone S.A., Fonterra Co-Operative Group Limited, Kerry Group PLC., PepsiCo, Nestlé S.A., and The Coca-Cola Company among other players.
For instance, in June 2020, the company PepsiCo, Inc. has continued to reduce added sugars, eliminating sodium and cutting saturated fats from their offerings.
Opportunities for Market Participants:
The health and well-being are one of the most talked-about topics in the global food and beverage industry from the past few years, this is due to the alarming surge in obesity, and other lifestyle health ailments. Hence, the customers are taking precautionary measures for decreasing the risk of lifestyle diseases, which is surging the demand for fat free foods. These are the main aspects that are pushing manufacturers to launch fat free foods in the global market. In addition to this, governments are also supporting manufacturers by promoting the health benefits of fat free foods. Moreover, various governments and private companies, across the world, are promoting fat free foods in order to control and prevent diseases and reduce the prevalence of health conditions. Hence, creating the growth prospects for the fat free foods manufacturers to introduce innovative and healthy products in the market to gain more profits.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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