Demand for packaged food in weight management is projected to expand at a significant pace in the forthcoming years, with volume expected to cross 118,195,000 tons in 2018, reflecting a rate of over 3.4% in 2018, according to a report published by Fact.MR, Rockville, Md. And, dairy is leading the charge.
“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 fueled the sales of packaged food in weight management,” says a subject matter expert in the food and beverages domain.
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 forms 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 sale 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.
Dairy products to largely contribute to 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 were largely pushed by growing demand for butter, with sales of butter expected to surpass 3,360,000 tons in 2018.
Grains, flour 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 most attractive market
Sales of packaged food for weight management are likely to remain concentrated in the developed countries of North America, particularly in the United States. The report estimates that by end of 2018, packaged food sold in United States alone is likely to represent over 85% volume share of the North America market.
The outlook of the weight management packaged food market is projected to remain positive. Stakeholders can expect a steady stream of opportunities with the weight management packaged food market expanding at a value CAGR of 6.2% by 2028.