According to a new report published by Allied Market Research, titled, “Fat Replacers Market,” The fat replacers market size was valued at $3.3 billion in 2021, and is estimated to reach $6.4 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.
The fat replacers sourced from plants occupied more than half of the fat replacers market share in the global market in 2021.
Chronic disease is connected to a diet high in fat and cholesterol. As a result, it is up to consumers to cut down on fat calories. Fat replacer processors provide fat alternatives that are compatible with the food system. Perfect fat substitutes should have a variety of functions and able to transfer heat, as fat is a heat transfer medium that allows quick cooking. Heat transfer has potential to change texture, color, and flavor. Protein, carbohydrate, or fat replacers are considered as healthy diet. Replacers based on carbohydrates can be fully digestive, moderately digestible, or non-digestible, giving 0-4 kcal/g.
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The global fat replacers market is segmented on the basis of source, type, application, and region. On the basis of source, the market is classified into plants and animals. The plants segment occupied a major share of the market in 2021, and is projected to maintain its dominance during the forecast period. Fat replacers sourced from animals are anticipated to grow at the highest CAGR in the future.
On the basis of type, the carbohydrate-based segment occupied major share of the market in 2021, and is projected to maintain its dominance during the forecast period. This is attributed to high textural properties provided by carbohydrate-based fat replacers.
On the basis of application, the fat replacers market is segmented into bakery & confectionary, processed meat products, dairy & frozen desserts, and others. The processed meat products segment is anticipated to grow at the highest rate during the forecast period. Moreover, nutritious and healthy food preference is growing at a rapid pace among consumers.
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In 2021, Europe accounted for more than half of the market, and is expected to maintain its dominance during the forecast period. Moreover, Asia-Pacific and North America are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of fat replacers in these regions.
Due to the COVID-19 pandemic, there is an increase in demand for healthy food products such as fat replacers. Sales of healthy and nutritious food products have increased, as it is consumed by health-conscious people to maintain a healthy body and appetite. It is mostly consumed in the Europe and North America regions. The supply has been hampered due to trade barriers and travel restrictions.
The market has grown rapidly as a result of rise in obesity rates around the world and growth in public awareness regarding excessive fat consumption. People are also becoming more health-conscious, which is changing their eating habits and nutrition. This also contributes toward the fat replacers market growth. Foods & beverages business is expected to develop significantly in next few years as a result of improved economic conditions, increase in population, and rise consumer income. In addition, these macroeconomic indicators and fat replacers market trends are expected to increase demand for fat replacers during the forecast period.
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Fat contains important sensory qualities that aid texture and mouthfeel, as well as the perception of lubricity in food and the overall taste component. As a result, food processors find it difficult to compensate for these qualities in fat-free food variations, stifling the expansion of the fat replacers industry. Overuse of fat replacers in a number of foods can increase stickiness and introduce unwanted flavors to cheese, all of which are expected to hinder sales.
Major players analyzed for the industry are Archer Daniels Midland Company, Ashland Global Holdings Inc., Associated British Foods Plc., BENEO, Corbion NV, CP Kelco U.S., Inc., Epogee, Grain Processing Corporation, Ingredion Incorporated, and JELU-WERK J. Ehrler GmbH & Co. KG. These major market players have adopted various strategies to expand their fat replacers market reach. The strategies adopted in the fat replacers market include product launch, merger, and acquisition. New market players are also entering the market with new products. These strategies are creating fat replacers market opportunities.
KEY FINDINGS OF STUDY
By source, the plants segment was the highest revenue contributor to the fat replacers market, with $1,740.5 million in 2021, and is estimated to reach $3,241.9 million by 2031, with a CAGR of 6.1%.
By type, the carbohydrate-based segment was the highest revenue contributor to the market, with $1,522.7 million in 2021, and is estimated to reach $2,851.2 million by 2031, with a CAGR of 6.1%.
By application, the bakery and confectionary segment was the highest revenue contributor to the market, with $1,319.8 million in 2021, and is estimated to reach $2,478.0 million by 2031, with a CAGR of 6.2%.
Region wise, Europe was the highest revenue contributor, accounting for $1,152.2 million in 2021, and is estimated to reach $2,270.1 million by 2031, with a CAGR of 6.7%.
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