Market Research Report
Ketogenic Diet Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|Ketogenic Diet Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
Published: April 21, 2021
Mordor Intelligence Pvt Ltd
Content info: 100 Pages
Delivery time: 2-3 business days
The ketogenic diet food market is projected to register a CAGR of 5.30% during the forecast period, 2021 - 2026.
Due to the strict imposition of lockdown after the advent of COVID-19, most consumers around the world have been following a strict exercise and diet regime from the comfort of their homes. Therefore, online health training websites and various social media platforms have been promoting to intake healthy diets, which also helps in weight management. Therefore, this factor has increased the consumption of keto-based food and beverage at a faster growth post the outbreak of the global pandemic and is expected to continue gaining momentum during the forecast period (2021-2026).
Also, the COVID-19 pandemic brought massive changes to the retail side of the ketogenic food industry. More consumers started using online ordering for groceries, ranging from click-and-collect to home delivery, which resulted in strong growth in online distribution channels.
As per the National Health Service (NHS), the prevalence of obesity among adults in England has been creeping upwards since 2000. In that year, 21% of men and women in England were classified as obese. However, by 2018, this share had increased to 29% for women and 26% for men. Therefore, the share of overweight males and females has been constantly rising in Europe and around the world, which is exponentially increasing the demand for keto food and beverage in the country.
Therefore, the increasing need for the keto diet among consumers is paving the way for manufacturers to introduce keto products, particularly supplements and snacks that deliver on the high-fat, low-carb formula, especially with added nutrients and vitamins, which are often lacking in a keto diet.
The Growing Demand for Ketogenic Beverages is Driving the Market Growth
The high-fat and low-carb beverages are designed to provide sustained energy and help accelerate the metabolic state of ketosis, which makes the body more efficient when burning fat for energy. Therefore, this factor is driving the ketogenic beverage market and also subsequently driving the ketogenic food market. Some players in the beverage market are steadily launching new drink products targeting ketogenic dieters. MCT (medium-chain triglycerides) oil, almond butter in to-go pouches, and nutritional drinks and bone broth with keto-specific packaging are some of the most popular products in the market. Some of the most popular keto drinks like iced tea, bulletproof coffee, and keto hot chocolate are boosting the demand in the beverages segment of the market studied. For instance, in December 2018, Koia and Whole Foods Market launched a range of drinks that are suitable for people following a ketogenic diet. Koia launched its new line of Koia Keto 100% plant-based protein beverages in three flavors: chocolate brownie, cake batter, and caramel creme.
Asia-Pacific is Emerging as the Fastest-growing Market
In China, ketogenic diet food is widely available in the form of tablets, pills, snacks, powder, or liquid form. Also, keto certifications are also emerging, including Certified Ketogenic and Paleo Foundation Certified Keto. These certifications are expected to appeal to lifestyle users who see keto as an extension of the paleo diet or a clean-label diet.
Recently, keto alcoholic beverages like LINGYA, China's first hard seltzer, have witnessed immense growth in the market, owing to rising in-house consumption of cocktails by consumers of the keto diet, which is further increasing the consumption of ketogenic diet food in the country and the overall region. As per the Ministry of Health and Family Welfare India, in 2016, the urban Indian household's share of overweight men was higher at 26.3%, while the share of overweight women was higher at 31.3%. The shares of overweight males and females have been constantly rising, which is exponentially increasing the demand for keto food and beverages in the developing regions of Asia.
The ketogenic diet food market is a highly competitive market and comprises regional and international competitors. The market is dominated by players like Perfect Keto, LLC, Glanbia PLC, Nestle, and Pruvit Ventures Inc. These players focus on leveraging opportunities posed by emerging markets to expand their product portfolios, so that they can cater to the requirements of various product segments, especially supplements and beverages.
Moreover, companies have adopted strategic partnerships as their key strategy to increase their geographical presence and customer base. For instance, Maxim has partnered with Zenwise Health to reach more clients who were perfectly positioned to benefit from the accelerating shift in online consumer purchasing patterns.