Increase in the number of obesity-related issues for consumers, growing numbers of health-conscious individuals, rise in the awareness of consumers regarding the benefits of keto diet and a growing preferences for clean-label products propel the ketogenic diet-related marketplace for food.
PORTLAND, Ore., Oct. 24 2022The research firm Allied Market Research published a report, titled “Ketogenic Diet Food Markets by type (Supplements Beverages, Snacks, and Dairy) as well as through the Distribution Channel (Online, Offline) Global Opportunity Analysis and Forecast for the Industry 2021-2031.” In the study, ketogenic diet food market generated $8.4 billion in 2021 and it is expected to grow to $14.5 billion by 2031. This will result in growth of 5.9 percent from 2022 until 2031. The report provides an in-depth review of market trends that are changing and top segments, the most important investment pockets, the value chain, landscape of regional and the competitive landscape.
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Opportunities and Drivers
The rise in prevalence of obesity and obesity problems among people of the younger age group, millennials and the working class population. The increasing amount of people who are health conscious increasing consciousness of the benefits offered by the ketogenic diet, as well as an the increasing preference of consumers for organic and natural products are predicted to boost the expansion of the global ketogenic diet market for food. However, the high cost of production of ketogenic diet products and their negative impact on health can hinder the expansion in the marketplace. However, the rapid growth of online shopping and the increase in R&D investment by companies to expand their product range and extend their market reach because of the shift in consumer preference towards healthier and organic diets offer new opportunities in the market in the coming years.
Covid-19 Scenario
- The COVID-19 virus had an impact positive on the ketogenic diet market for food. After the impositions of lockdowns across the globe the population has been following an intense exercise and diet routine at home.
- So, online health-related training and social media platforms pushed the consumption of healthy, fat loss-related diets. This led to an increase in consumption and demand for keto-based beverages and food items. Shakes that replace meals that are ready to drink was significantly higher.
- Furthermore the COVID-19 pandemic caused people to use the internet to purchase food, which led to an increase in sales of ketogenic food items and , consequently, contributed to the expansion in the marketplace. The market is expected to continue growing in momentum in the coming years.
The supplement segment will lead the industry in terms revenues during the forecast time
Based on the type of product of supplements, the segment has contributed to the largest portion of almost half the ketogenic diet-related food market by 2021 and is predicted to be the dominant player in the coming years. The increasing urbanization rate, the hectic life of the consumer, and growing awareness about the medicinal and nutritional benefits of ketogenic diets are leading to a rise in need for supplements to the ketogenic diet. But, the snack category is expected to grow at the highest CAGR of 7.8 percent between 2022 and 2031. The need for ketogenic diet snacks is rising as consumers are becoming more conscious about their health.
The offline segment will keep its lead throughout the forecast time
Based on distribution channels the offline sector accounted for the biggest percentage of over four-fifths of the marketplace for ketogenic-based diet foods by 2021 and is predicted to continue significant growth over the forecast time. Hypermarkets/supermarkets are gaining popularity, owing to the availability of a broad range of ketogenic food products and beverages under a single roof, with ample parking space and convenient operation timings. However, the online market is expected to have the most significant CAGR of 7.0 percent by 2031. The increasing penetration of different online portals in emerging regions and the rise in the variety of offers or discounts encourage people to buy ketogenic diet products through internet-based channels.
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Asia Pacific to experience the fastest growth rate by 2031
Based on the region, Asia-Pacific is expected to show the highest CAGR of 7.0 percent over the period 2022-2031. Growing urbanization and a rise in middle-class customers have prompted the adoption of lifestyles that focus on convenience and made ketogenic diet-related food popular for everyone across the region. Yet, North America was the market with the highest share in 2021. The region accounts over two fifths the ketogenic diet food market and will likely to be the leader through the forecast time. The demand for ketogenic diet-related foods within this area is likely to grow during the forecast time. This is due in part to rising levels of obesity and a growing consciousness of consuming an wholesome diet in the millennial generation.
The Leading Market Player
- Ample Foods
- Danone SA
- Nestle SA
- Pruvit Venture
- Keto and company
- Zenwise Health
- PerfectKeto
- Know Brainer Foods
- Bulletproof 360 Inc.
- Ancient Nutrition
The report examines the key players in the global ketogenic diet market. They have employed a variety of strategies like expansion of new products or partnerships, among others, to boost their market share and increase their standing within the market. This report assists in assessing the company’s performance and operating segments, the products, and innovations that are being made by each market player.
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