Fat Replacers Industry by Source (Plants, Animals), by Type (Carbohydrate based, Protein based, Fat based), by Application (Bakery and Confectionary, Processed Meat Products, Dairy and Frozen Desserts, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″. According to the report, the global fat replacers industry generated $3.3 billion in 2021, and is anticipated to generate $6.4 billion by 2031, witnessing a CAGR of 6.4% from 2022 to 2031.
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Prime determinants of growth
Surge in awareness of health issues among consumers is causing them to adjust their eating habits and consume less fat, which is driving the growth of the global fat replacers market. Moreover, increase in research and development activities by the food manufacturers present new opportunities in the coming years.
Covid-19 Scenario
• The outbreak of the Covid-19 pandemic has had a positive impact on the global fat replacers market, owing to rise in awareness regarding its health benefits.
• On the other hand, the pandemic led to the temporary closure of manufacturing facilities and disruption in the supply chain, which impacted the growth of the market negatively.
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The plants segment to maintain its leadership status throughout the forecast period
Based on source, the plants segment held the highest market share in 2021, accounting for more than half of the global fat replacers market, and is estimated to maintain its leadership status throughout the forecast period, owing to adoption of innovative or latest technologies. However, the animals segment is projected to manifest the highest CAGR of 6.8% from 2022 to 2031, attributed to the health benefits provided by the animal fat replacers.
The carbohydrate based segment to maintain its lead position during the forecast period
Based on type, the carbohydrate based segment accounted for the largest share in 2021, contributing to nearly half of the global fat replacers market, and is projected to maintain its lead position during the forecast period. Owing to high utilization of carbohydrate-based fat replacers in bakery and confectionary products, the segment is growing at a rapid pace. However, the protein based segment is expected to portray the largest CAGR of 6.8% from 2022 to 2031, due to health benefits provided by protein-based fat replacers.
Europe to maintain its dominance by 2031
Based on region, Europe held the highest market share in terms of revenue 2021, accounting for more than one-third of the global fat replacers market, owing to increase in customer awareness and rise in interest for an alternative to traditional fat with lower caloric ingredient. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.1% from 2022 to 2031. This is attributed to heart-related issues and a lack of physical activity by people in the region.
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Leading Market Players: –
• Archer Daniels Midland Company
• Associated British Foods Plc.
• Ingredion Incorporated
• Kerry Group PLC.
• Koninklijke DSM
• Nestlé S.A.
• Tate & Lyle PLC
• CP Kelco U.S., Inc.
• Ashland Global Holdings Inc.
• Corbion NV
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