Ketogenic Diet Food Market to Reach $14.5 Billion, Globally, by 2031 at 5.9% CAGR: Allied Market Research

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Oct 24, 2022, 09:00 ET

Rise in prevalence of obesity issues among consumers, growing number of health-conscious people, rise in consumer awareness regarding the advantages of keto diet, and increase in consumer preference toward clean-label products drive the global ketogenic diet food market.

PORTLAND, Ore., Oct. 24, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Ketogenic Diet Food Market by Type (Supplements, Beverages, Snacks, Dairy), by Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global ketogenic diet food industry generated $8.4 billion in 2021, and is estimated to reach $14.5 billion by 2031, witnessing a CAGR of 5.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers and Opportunities

Rise in prevalence of overweight and obesity issues among the younger generation, millennials, and the working-class population, growing number of health-conscious people, rise in consumer awareness of the advantages offered by keto diet, and increase in consumer preference toward natural and clean-label products are expected to fuel the growth of the global ketogenic diet food market. However, high production costs of ketogenic diet foods and their detrimental effects on human health hinder the growth of the market. On the other hand, the quick growth of e-commerce and increase in R&D investments by manufacturers to broaden their portfolio and expand their reach due to the ongoing consumer shift toward organic and healthy diet present new opportunities in the market in the future.

Covid-19 Scenario

The COVID-19 pandemic had a positive impact on the global ketogenic diet food market. Post the imposition of lockdowns globally, consumers have been following a strict exercise and diet regime at their homes.
Therefore, online health training and social media platforms promoted the intake of healthy and weight loss diets. This factor increased the demand and consumption of keto-based food products and beverages. The demand for meal-replacing shakes which are ready to drink rose significantly.
In addition, the COVID-19 pandemic led consumers to shop online for groceries, which resulted in the increased sales of ketogenic food products and consequently, led to the growth of the market. The market will continue gaining momentum in the future.

The supplements segment to dominate the market in terms of revenue during the forecast period

Based on type, the supplements segment contributed to the largest share of nearly half of the global ketogenic diet food market in 2021, and is expected to rule the roost during the forecast period. Rise in urbanization, hectic lifestyle of consumers, and increase in awareness regarding the nutritional & medicinal benefits of ketogenic diet are leading to the increased demand for ketogenic diet supplements. However, the snacks segment is projected to witness the fastest CAGR of 7.8% from 2022 to 2031. The demand for ketogenic diet snacks is growing as consumers are becoming more health conscious.

The offline segment to maintain its lion's share during the forecast period

Based on distribution channel, the offline segment held the largest share of more than four-fifths of the global ketogenic diet food market in 2021, and is expected to maintain a prominent growth during the forecast period. Hypermarkets/supermarkets are gaining popularity, owing to the availability of a broad range of ketogenic food products and beverages under a single roof, with ample parking space and convenient operation timings. However, the online segment is likely to exhibit the highest CAGR of 7.0% in 2031. The increase in penetration of various online portals in developing regions and rise in the number of offers or discounts compel consumers to purchase ketogenic diet food through online channels.

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Asia Pacific to achieve the fastest growth by 2031

Based on region, Asia-Pacific is anticipated to manifest the fastest CAGR of 7.0% during the forecast period, 2022-2031. Increase in urbanization and rise in the number of middle class consumers have encouraged the adoption of convenience-oriented lifestyles, making ketogenic diet food more desirable for all age group people in the region. However, North America held the largest market share in 2021, accounting for more than two-fifths of the global ketogenic diet food market, and is likely to lead the trail throughout the forecast period. Demand for ketogenic diet foods in this region is expected to rise throughout the forecast period. This is due to rising obesity rates and strong awareness of the importance of eating a healthy diet among millennial.

Leading Market Players

Ample Foods
Danone SA
Nestle SA
Prüvit Venture
Keto and company
Zenwise Health
PerfectKeto
Know Brainer Foods
Bulletproof 360 Inc.
Ancient Nutrition

The report analyzes these key players of the global ketogenic diet food market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://bit.ly/3sgGMd4

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