Growing consumer inclination toward healthy diet continues to remain instrumental in driving sales of weight management products and services. The demand for packaged food in weight management is largely influenced by increasing obesity levels coupled with preference for sustainable lifestyle. Fact.MR foresees that the demand for packaged food in weight management is projected to expand at a significant pace in the forthcoming years. Volume of packaged food in weight management is expected to cross 118,195,000 tons in 2018, reflecting a rate of over 3.4% in 2018.
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Consumer shift toward healthy lifestyle has translated into a growing inclination of consumers for packaged food that offer significant health benefits with low added calories, and weight management foods are no exception. Additionally, increasing participation of individuals in fitness activities has further pushed the demand for low carb, high protein diet. Against this backdrop, demand for weight management products is likely to witness an increase in the near future.
“The weight management market growth is also complemented by the content display on the front or back of the packaging. Food labeling provides nutritional information regarding ingredients and products along with calorie intake. This has enhanced consumer convenience in keeping track of calories they consume as part of their daily diet pre and post workout. This aspect has significantly fuelled the sales of packaged food in weight management” – Subject Matter Expert, Food and Beverages Domain, Fact.MR
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Key Pointers from the Report
- North America continues to remain an attractive market, accounting for over 30% share of the market in 2017, followed by Europe
- Emerging countries in Asia Pacific excluding Japan (APEJ) likely to reflect increasing inclination toward consumption of weight management food, making APEJ a lucrative market in terms of future growth
- Dairy products remain the most sought-after packaged food for weight management among consumers with over 78,700,000 tons sold in 2017
- Ready-to-eat form are expected to remain an attractive opportunity for stakeholders, accounting for over 60% of global sales in 2017
- Tug-of-war between chicken and beef based packaged food witnessed in 2017, with the former witnessing a relatively higher sales than the latter. 2018 to showcase a similar trend
- Minimally processed packaged food to account for larger value share in 2017 while ultra-processed weight management food witnessing significant traction
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Dairy Products to Largely Contribute to the Overall Growth
Dairy packaged food products are expected to gain high traction in 2018 with sales accounting for over 30% share of the market, according to the report. Sales of dairy products in 2017 are largely pushed by growing demand for butter. Sales of butter are expected to surpass tons 3,360,000 tons in 2018 maintaining their status quo as the most preferred packaged dairy product for weight management.
Grains and flours and frozen meals are also projected to expand at a substantial pace, collectively accounting for a 23% share of the market in 2017, according to the report.
United States to Remain the Most Attractive Market
Sales of packaged food for weight management are likely to remain concentrated in the developed countries of North America, particularly the United States. The report estimates that by end of 2018, packaged food sold in United States alone are likely to represent over 85% volume share of the North America market.
The outlook of the weight management market is projected to remain positive. Stakeholders can expect a steady stream of opportunities with the weight management market expanding at a value CAGR of 6.2% throughout the period of forecast, 2018-2028.