Published on November 4, 2023, 12:39 am
The global ketogenic diet food market is experiencing significant growth, driven by the rising number of health-conscious individuals worldwide. According to a report by Allied Market Research, the industry generated $8.4 billion in 2021 and is projected to reach $14.5 billion by 2031, with a compound annual growth rate (CAGR) of 5.9% during the forecast period. This growth can be attributed to several factors.
One of the key drivers of the market expansion is the increasing prevalence of various diseases such as obesity, cardiovascular disorders (CVD), and metabolic syndromes. As people become more aware of the potential health benefits of following a ketogenic diet, the demand for keto-friendly products continues to rise. Not only is the keto diet known for its weight loss benefits, but it may also help manage other health conditions.
In addition to growing public knowledge about the keto diet, the popularity of ketogenic beverages and ready-to-eat foods like bulletproof coffee, iced tea, and keto hot chocolate are positively impacting market expansion. These products offer convenience and align with consumers’ desire for healthier food options.
Furthermore, the expansion of online retail channels that provide a wide range of product choices, along with increased consumer spending power, has contributed to market growth. Manufacturers are also catering to specific dietary preferences by developing plant-based protein snacks and beverages for vegetarian and vegan communities.
Some key players in the global ketogenic diet food market include Ample Foods, Danone SA, Nestle SA, Prüvit Venture Keto and Company, Zenwise Health, PerfectKeto Know Brainer Foods, Bulletproof 360 Inc., Ancient Nutrition among others. These companies have adopted strategies such as expansion, new product launches, partnerships to strengthen their position in the industry.
By type of product segment within the market, supplements currently hold the largest share and are expected to continue dominating during the forecast period. This can be attributed to urbanization, the busy lifestyles of consumers, and increased awareness of the nutritional and medicinal benefits of the ketogenic diet. On the other hand, the snacks segment is projected to witness the fastest growth with a CAGR of 7.8% from 2022 to 2031.
On a regional basis, Asia-Pacific is expected to manifest rapid growth with a CAGR of 7.0% during the forecast period. The region’s increasing urbanization and rising number of middle-class consumers have led to the adoption of convenience-oriented lifestyles and a higher demand for ketogenic diet food across all age groups. North America currently holds the largest market share and is likely to maintain its dominance due to rising obesity rates and strong awareness among millennials regarding the importance of a healthy diet.
Overall, as more people become health-conscious and seek effective ways to manage their weight and improve their overall well-being, the demand for ketogenic diet food products is anticipated to continue growing. With advancements in online retail channels and an increasing variety of product options available, consumers now have greater access to keto-friendly alternatives that align with their dietary preferences.
Disclaimer: This article contains information sourced from Allied Market Research but we have not mentioned any original source or contact details related to it.