The low-calorie cream cheese market is estimated to secure a valuation of USD 8.2 Billion in 2023 and is estimated to rise to USD 14.2 Billion by 2033. The market is anticipated to grow at a CAGR of 5.7% during the forecast period. The factors accelerating the demand for low-calorie cream cheese are as follows-
The rising concern about fitness and the wide availability of different varieties of low-carb plant-based food are likely to drive the low-carb vegan food market over the forecast period. Also, the increasing population base for overweight and obese individuals globally is driving the growth of the low-carb vegan food market.
Due to increased courteousness about the food many people are looking for a low-carb alternative to trans-fat, carbohydrate, and excessive sugar. The low-carb vegan food includes various types of meat alternatives, fruit, and nut snack, cereal-based snacks, and plant-based snacks.
Other factors driving the growth of the low-carb vegan food market are increased urbanization and increased consumer inclination towards nutritious and natural ingredient food products.
North America is leading the low-carb vegan food market with increased demand for clean-label food products. Increased consumer awareness and demand for healthy and plant-based snack food which is expected to boost the market growth in the region.
Europe dominates the low-carb vegan food market owing to the increased health awareness among the growing population along with the easy availability of low-carb vegan food products.
Asia Pacific is expected to provide an opportunity for low-carb vegan food due to the proliferation of adopting a healthy lifestyle supported by high spending power.
The key players associated with the low-carb vegan food market include Danine, DuPont, Amy’s Kitchen, Earth’s Own Food Company inc, General Mills, The Unilever Group, Nestle, Quorn, Archer Daniels Midland, and Plamils Foods among others.
Manufacturers of low-carb vegan food are doing product innovation, mergers, acquisitions, and expanding their business capabilities to capture the maximum share of the market globally. Also, the manufacturers are investing in research and development and offering low-carb vegan food with healthy flavors and ingredients.
For instance, plamil foods introduced Plamilla’s original vegan chocolate spread with United Kingdom-grown gluten-free oats. Also, this smooth vegan chocolate spread is lactose-free and gluten-free well suited for vegans and coeliacs.
The low-carb vegan food market is expected to gain traction in the coming years with growing consumer awareness about the nutrition and fat contained in food products. Due to the increased demand for low-carb vegan food products globally, new start-ups are entering the market with some innovative and healthy vegan food items.
For instance, founded in 2016 - Ekomenu is an online food delivery platform offering healthy food with organic ingredients. It offers a healthy personalized menu with various recipes and organic ingredient diets such as vegetarian, low-carb, gluten-free, and lactose-free.
| Data Point | Key statistics |
|---|---|
| Expected Market value in 2023 | USD 8.2 Billion |
| Projected Market Value in 2033 | USD 14.2 Billion |
| Growth Rate (2023 to 2033) | CAGR of 5.7% |
In the fast-paced lifestyle, people intake more calorie food which is stored in the body as fat which causes major health problems, for instance, obesity, cardiovascular diseases. Processed food contains sweeteners, excessive salt & sugar, artificial flavors, trans fat and carbohydrate, consumption can cause obesity.
With resent trend consumers have started adopting new eating habits and are also becoming more thoughtful about their food choices. They are opting for healthier food containing nutritious and natural ingredients. Consumers are increasingly getting inclined towards low carbs food that offers clearer and cleaner labels.
Low carbs vegan food fulfil the need for natural, cleaner and healthier snacking, thus, are expected to witness a rising demand shortly.
The plant-based revolution is showing persistent growth for a very long time. An increasing number of consumers are shifting to a plant-based diet unintentionally either to decrease the carbs intake or to improve the quality of food that they are consuming resulting in rising demand low carbs vegan food.
Consumers are either going completely vegan or adopting the flexitarian lifestyle. A large number of the population have reduced consumption of meat and dairy. Furthermore, several among them have become part-time vegans as they often give up the consumption of animal products over a certain period.
Consumption Low carbs vegan food are very effective for weight loss. The consumers are getting more inclined towards the products that are simple and products that contain less or no artificial ingredients resulting in rising demand for low carbs vegan food.
The manufacturers thus nowadays involving themselves in reviewing and updating their product offerings and finding ways to substitute or eliminate ingredients that have an undesirable effect or health adversities on consumers.
Awareness in the uniqueness of healthy foods and low carbs vegan ingredients is also growing and paving the way for low carbs vegan food. The older generation and over millennials cite the importance of eating low carbs vegan food.
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Carbohydrates are found in foods, for instance, barley, rice, wheat oats and others. Low carb vegan food normally promotes carbs in restricted proportions to less than 20% of the total calorie intake. Various manufacturers in the food and beverage market are accumulating their low carb vegan food products include alcohol manufacturers, cookies, sport/nutritional products, breakfast cereals, and desserts to fulfil the rising demand.
Additionally, low carbs vegan food products contribute to healthy eating habits and provide more nutritional value, protein, minerals, and healthy fats as compared to the other snacking alternatives available. Healthy low carbs vegan food is a growing food trend.
Today, consumers are demanding number of low carbs vegan food bases are made with seeds, fruits, vegetables, nuts, beans, or combinations, to provide more protein and fewer carbs to consumers, and provide a healthy snacking option to them.
Consciousness and carefulness regarding consumption of food, buyers are currently shifting to the idea of deep-insight transparency. With growing technology, buyers are now having access to smart and clean labels, through which they can easily track the brief about the product and check the details of ingredients involved in their individual qualities.
Buyers are nowadays demanding to food companies to raise the transparency of their low carbs vegan food, its nutrition values, free-from status, going past ingredients. This is focused on the consumers’ ever-rising need to know and understand the product’s history and involvements- from where and what all the thing involved in manufacturing process till the end product.
In 2016, according to the International Food Information Council (IFIC), 38% of the American population named 'chemicals' as their top food safety concern. This involves that, a huge population of the North American no longer trusts unfamiliar and chemicals ingredients in their food.
A leading global ingredient solutions company, states that around 80% of buyers across the world realize that, it is important that consumers recognize all the ingredients used in their low carbs vegan food packaging.
A global survey was arranged across 17 countries shows that buyers also feel that a simple and shortlist of ingredients at the packaging of the product should be mentioned and that makes Chinese buyers were rated 4th most likely consumers to read ingredient lists of low carbs vegan food.
A great number of brands are mainly involved in acquisitions, mergers, and joint ventures to improve their product portfolio and reach a significant existence in the market. Producers adopted by the major players would help in strengthening their position in the global low carbs vegan food market.
The aspects enabling the growth of the market is the growing application of low carbs vegan food in the manufacture of several foods and beverages products.
Rising developmental activities, for instance, increasing production capacities of companies to increase the production of low carbs vegan food products is expected to trigger low carbs vegan food market in food and beverages industry. Few industry participants include
Big companies are investing in and acquiring small plant-based companies and brands to expand their offerings of plant-based products. Companies have consciousness of the inclining consumers’ preferences and trends towards a healthier lifestyle and vegan products, thus, are trying to update their product portfolios with more and lower carbs vegan food.
Manufacturers of low carbs vegan products are continuously offering buyers low carbs vegan food with innovative products involving healthy flavors and ingredients. Innovation in low carbs vegan food is made to meet the buyers demand healthier food without compromising the flavor, taste, texture, and nutritional qualities of the low carbs vegan food products.
For instance, in 2018, General Mills Inc invested in low carbs vegan food ready-to-eat meals, snacks and beverages company - Urban Remedy.
In 2017, Kellogg Co. launched nourish and protein snack bites under its Special K brand. Again in 2017, Kellogg Company launched a total of 50 new products in the morning foods, snacks, and frozen categories. In 2018, the company planned to double vitamin D levels in some of its cereals to provide consumers with sufficient nutrient contents.
The manufacturers have started launching products free from avoiding objectionable ingredients like artificial flavors, colours, antibiotics, GMOs, sweeteners, preservatives, and packaging made with BPA (Bisphenol A). The manufacturers that have eliminated or replaced such ingredients should highlight these in their marketing campaigns to gain consumers attention.
Besides, the manufacturers should try and create organic and natural alternatives to their existing product portfolio. Some of the low carbs vegan product is vegetable sticks with avocado dip, nuts, hummus, berries, seeds, a green smoothie or juice, vegan yoghurt nut butter, kale chips, Low-carb granola bars.
The Low carbs vegan food market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the Low carbs vegan food market, including but not limited to: regional markets, nature, source, product type, packaging, distribution channel.
The Low carbs vegan food market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analysing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the Low carbs vegan food market report projects the attractiveness of each major segment over the forecast period.
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Low Carbs Vegan Food Market
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