The overall weight management market is changing to reflect consumers trending more toward ‘health and wellness’ lifestyles rather than diets, according to market research firm Fact.MR.
The trend is “largely influenced by increasing obesity levels coupled with preference for [a] sustainable lifestyle. Fact.MR foresees that the demand for packaged food in weight management is projected to expand at a significant pace in the forthcoming years.”
It expects the total volume to exceed 118.2m tons in 2018. North America is one of the most lucrative markets for weight management CPGs, surpassing Europe in 2017 with over 30% market share.
“Associated with various cardiovascular disorders, obesity concerns have triggered the consumption of functional foods such as weight management products. This aspect continues to influence the sales of these products, complementing the market’s growth,” Fact.MR said.
Dairy products are reportedly the most sought-after packaged food in weight management at more than 78.7m tons sold in 2017. Butter is the most popular among consumers, expected to surpass tons 3.4m tons in 2018.
Convenient, ready-to-eat foods will stay attractive to stakeholders and consumers, accounting for more than 60% of global sales in 2017. People are also looking for minimally processed packaged food to stay healthy, clean and free of chemicals used in highly processed products.
"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,” Fact.MR said.
“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."
The trade war with China has also been a factor in the market in terms of high tariffs on nuts, wheat, soybeans and dairy products, “likely to impact international weight management food trade along with price alterations in both countries in the coming years.”
