Market Outlook
Desserts are mainly trending these days among the consumers as a sweet dish around the world, and are served with or as refreshment meals as refreshment. Low fat desserts are prepared by using ingredients with a less or negligible amount of fats and sugar. These days, the low fat desserts are being widely prepared by food manufacturers because of the increasing numbers of consumers preferring for dining out. In addition to this, the demand for low fat desserts is also increasing as it is highly preferred by the younger population. The rising prevalence of obesity and its associated diseases are one of the major drivers for low fat dessert market.
These days, the customers are inducing about the nutritional content of the low fat desserts without negotiating with the texture and taste. In addition to this, the flavors added to the desserts as per the preference of the consumers, these are the factors aiding the growth of low fat desserts market and is estimated to grow over the forthcoming years.
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Millennial Population Propelling the Growth of Low Fat Desserts Market
27% of the global population- 7.4 billion – consists of millennials that drive several sectors within customer markets towards fast growth and development. Millennials show their preference for innovative/new product offerings and are fascinated towards new products launched in the market. This is one of the main reasons behind the growing popularity of low fat desserts. Media and digital interactions have remained a key platform for low fat desserts manufacturers to effectively market their products. This has transformed people’s interaction with brands, and consumers are associating with these brands in their own ways. According to the study of The Hershey Company, 64% of the total millennial generation likely to buy or try a branded or innovative desserts including low fat desserts for the first time. These are one of the key trends of millennial demographics surging the demand for low fat desserts across the globe.
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Global Low Fat Desserts: Market Segmentation
Based on nature, low fat desserts market can be segmented as-
- Organic
- Conventional
Based on packaging, low fat desserts market can be segmented as-
- Bottles & Jars
- Stand-Up Pouches
- Other Packaging Type
Based on source, low fat desserts market can be segmented as-
- Plant-based
- Animal-based
Based on product type, low fat desserts market can be segmented as-
- Bakery Desserts
- Frozen Desserts
- Dairy Based Desserts
Based on sales channel, low fat desserts market can be segmented as-
- B2B (Direct Sales)
- B2C (Indirect Sales)
- Store-based Retailing
- Supermarket/Hypermarket
- Convenience Stores
- Groceries
- HoReBa
- HoReCa
- Specialty Stores
- Other Retailing Formats
- Online Retailing
- Store-based Retailing
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Global Low Fat Desserts Market: Key Players
Some of the key players operating in low fat desserts market include Lawler Foods Ltd., Bake-N-Serv Inc., Del Monte Food, Inc, Pepperidge Farm Inc., Grupo Bimbo, S.A.B. de C.V., Welch Foods, Inc., Dole Food Company, Inc., Sara Lee Corporation, and Perkins & Marie Callender’s, LLC, others.
Opportunities for Market Participants:
From the past few years, online retailing has become very popular across the globe. Online retailing is also being treasured and well-recognized by the producers of low fat desserts, due to its evolution from unmitigated online shopping websites to a profitable mode for direct sales of the products. Online retailing also anticipated to progress, with best practices that are shifting regularly. Additionally, the tie-ups with prominent online retailing sites, the low fat desserts manufacturers are also making their websites and online apps to gain more share in the global low fat desserts market, and contact directly with their potential buyers. Online retailing will gain more significance to low fat desserts producers benefits, as profits made through offline sales channel anticipated to dwindle.
The food and beverages sector has cemented its place among the global populace firmly over the years. This sector attracts considerable investments and subsidies from numerous government and non-government organizations. The trends and popularity regarding specific sub-categories are dynamic and help in structuring the overall growth. The trends are a way of answering the needs of the consumer. The players in the food and beverages sector have to adapt to the changing trends, which helps increase revenue-generation opportunities.
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