The most recent study conducted by Report Ocean, titled “Global Fat Replacers Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Fat Replacers. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
The global fat replacers market size was US$ 3.3 billion in 2021. The global fat replacers market size is forecast to reach US$ 5.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2022 to 2030.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
A non-fat material known as a “fat replacer” has the same properties and capabilities as actual fat. It is a material that tastes like natural fat and has fewer calories than natural fat but poses no health risks. It typically appears in cheese, yogurt, margarine, sauces, dressings, gravies, and baked foods. Carbohydrate, protein, fat-based, and combination are the four categories that make up fat substitutes. Guar gum, dried plum paste, modified food starches, oat fiber, gum Arabic, xanthan gum, carrageenan, and wheat fiber are also components of carbohydrate-based fat substitutes. Protein from milk or egg whites is used to make protein-based fat substitutes. The majority of fat-based fat substitutes are made of fat molecules that have undergone transformations that prevent or limit their absorption in the intestine.
Factors Influencing Market Growth
The rising obesity across the globe and growing awareness about the effect of excessive fat consumption drive the global market.
The increasing demand for low-calorie dietary products and developed food ingredients boosts global market growth.
The rising consumer preference for low-fat products fuels global market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a minimal impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading, which disturbed the supply chain and trade of these products.
On the other hand, due to the COVID-19 pandemic, there was growth in the demand for healthy food products such as fat replacers. As a result, this increased the sales of healthy and nutritious food products since health-conscious consumers consume them to maintain a healthy body.
Regional Analysis
Europe acquired a significant market share in 2021 and is forecast to remain dominant during the forecast period. Due to the fact that high consumption of fat replacers and its several types in the U.K. and Germany. Local preferences for fat replacers vary with geographic location. Thus, the increasing choice of nutritious and healthy food products and ready-to-eat products boosts the market growth in the region.
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The Asia Pacific region is forecast to have a considerable growth rate over the projected period. As a result of the rising population and growing nutritional requirements per person.
Leading Competitors
The leading prominent companies profiled in the global fat replacers market are:
Archer Daniels Midland Company
Associated British Foods Plc.
Ingredion Incorporated
Kerry Group PLC.
Koninklijke DSM
Nestl S.A.
Tate & Lyle PLC,
CP Kelco U.S., Inc.
Ashland Global Holdings Inc.
Corbion NV
Other Prominent Players
Scope of the Report
The global fat replacers market segmentation focuses on Source, Type, Application, and Region.
Segmentation based on Source
Plants
Animals
Segmentation based on Type
Carbohydrate based
Protein based
Fat based
Segmentation based on Application
Bakery and Confectionary
Processed Meat Products
Dairy and Frozen Desserts
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
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Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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