Keto Diet Market Size Worth $ 1.18 Billion By 2024 | CAGR: almost 5%: Technavio
NEW YORK, May 5, 2021 /PRNewswire/ --
The "Keto Diet Market by Product and Geography - Forecast and Analysis 2020-2024" report has been added to Technavio's offering.
NEW YORK, May 5, 2021 /PRNewswire/ --
The "Keto Diet Market by Product and Geography - Forecast and Analysis 2020-2024" report has been added to Technavio's offering.
The keto diet market is poised to grow by USD 1.18 billion between 2020-2024, progressing at a CAGR of almost 5% during the forecast period.
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The keto diet market growth is boosted by the increasing availability of keto products across various distribution formats. In addition to online channels, keto diet products are also being made available in brick-and-mortar stores. Moreover, to increase their sales, several vendors are focusing on distributing their products through retail stores, specialty stores, hypermarkets, and supermarkets. For instance, Love You Foods LLC has expanded the presence of its products by distributing them online as well as retail outlets of The Vitamin Shoppe. Similarly, Fat Snax partnered with The Vitamin Shoppe to sell their keto snack products through its retail outlets.
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33% of the market's growth will originate from Europe during the forecast period. The UK is the critical market for the keto diet in Europe. Market growth in this region will be slower than the growth of the market in APAC. Keto diet market growth in Europe can be attributed to increasing health consciousness among consumers in the region.
Know About the Key Opportunities and Growth of Keto Diet Market in Packaged Foods & Meats Industry
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The keto diet market is segmented by product (supplements, beverages, and others) and geography (APAC, Europe, MEA, North America, and South America).
The supplements product segment of the keto diet market will hold a major market share in the near future. This can be due to the factors such as an increase in the number of product launches and continuous product innovations.
The keto diet market is fragmented due to the presence of several international and regional vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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