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(MoneyNewsWire.Net, April 11, 2018 ) The global fat replacers market witnessed steady growth over the last few years. The market size is estimated to be 1.48 Billion in 2017, and is projected to reach USD 2.01 Billion by 2022, at a CAGR of 6.2% from 2017. Increasing prevalence of obesity and the growing awareness about health and wellness are the major drivers contributing to the growth of this market.
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The fat replacers market, by type, is segmented into carbohydrate-based, protein-based, and lipid-based. The increasing demand for food products with high-protein content but low-fat content is expected to fuel the growth of the protein-based fat replacers market.
By application, the market has been segmented into bakery & confectionery products, dairy & frozen desserts, convenience foods & beverages, sauces, dressings, and spreads, and others (functional foods and processed meat). The bakery & confectionery products industry led the market due to the increasing awareness about leading a healthy lifestyle. This led to the reduction of fat content in bakery & confectionery products, leading to the demand for fat replacers.
By form, the market has been segmented into powder and liquid. The powdered segment accounted for a relatively larger market share as it is easy to use and maintain. This form of fat replacers is preferred for fried foods and bakery products.
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By source, the market has been segmented into plant and animal. The plant-sourced segment is projected to grow at a relatively higher CAGR. Animal-sourced protein is expensive to obtain, and therefore it is easier for food manufacturers to opt for plant-sourced fat replacers.
The global fat replacers market was dominated by North America in 2016. Asia Pacific is projected to be the fastest-growing market from 2017 to 2022. The change in consumers’ eating habits in terms of western cuisine, as well as the growth in the processed food industry, has led to the need for fat replacers.
The global fat replacers market is characterized by moderate to low competition. Expansions & new product launches are the key strategies adopted by the key market players to ensure their growth in the market. The market is dominated by players such as ADM (US), DuPont (US), Cargill (US), Kerry Group (Ireland), FMC Corporation (US), Ingredion (US), Koninklijke DSM (Netherlands), and Ashland Inc (US).
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