LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global reduced fat packaged food market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global reduced fat packaged food market will grow at a CAGR of over 4% during the forecast period. The increasing health consciousness among consumers is a major factor driving the market’s growth.
The rising instances of obesity and related diseases/disorders among people are making them more health conscious, and they are demanding food and beverage products which are low in fat and calories. In response to this demand, players are coming up with new products that have less fat and calories.
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In this report, Technavio highlights the introduction of new packaging formats as one of the key emerging trends in the global reduced fat packaged food market:
Introduction of new packaging formats
Introduction of new packaging formats by players is a growing trend in the global reduced fat packaged foods market. The new packaging helps to garner the attention of the consumers and helps to give a fresh lease of life to the products. Attractive packages with attractive designs will help in increasing sales of the product.
According to a senior analyst at Technavio for food research, “Innovative packaging formats also help in increasing the shelf life and convenience factor associated with a product. The players in the market can effectively use the new package design to increase the sales and to advertise the product and the company effectively.”
In 2017, Al Safi Danone launched a new packaging campaign for its reduced-fat milk product. The company claims that the product is made from 100% pure cow's milk; rich in calcium, vitamins, and proteins; and free from additives. In March 2017, Yili and Sidel launched new PET bottle for the Changyi yogurt drinks line of Yili in China. The new PET bottles ensure the longer shelf life of the product and provide improved rigidity to avoid deformation during transportation.
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Global reduced fat packaged food market segmentation
This market research report segments the global reduced fat packaged food market by product (bakery, dairy, cereals, meat products, and other reduced fat packaged foods) and key regions (the Americas, APAC, and EMEA).
The bakery product segment held the largest market share in 2017, accounting for nearly 37% of the market. The market share for this segment is expected to witness the largest growth among all the product segments over the forecast period.
Americas emerged as the largest market with a share of more than 38%, followed by EMEA and APAC. This is the only region that is expected to witness a small growth in its market share over the forecast period.
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