The Global Ketogenic Diet Market was valued at USD 10,225 million in 2020 and is expected to reach USD 16,011 million by 2027, growing at a CAGR of 6.2% during the forecast period, (2021–2027).
Ketogenic diet comprises of a high fat low carb diet. It has gained demand as it has proved to be an effective way for weight loss and management across all age groups globally. According to the World Health Organization, obesity has become an epidemic. The rising cases of obesity and weight related problems among the younger population, millennials, and the working-class population is propelling market growth. The ketogenic diet has come as a solution to obesity-based heart diseases and with an increase in the obese population there has been a demand for the ketogenic diet. According to Healthline, there is evidence that ketogenic diet aids in weight loss. Celebrities such as Kim Kardashian, Halle Berry, Megan Fox are followers of the ketogenic diet and hence the popularity of this diet has increased. The Ketogenic diet is also creeping into the sports fraternity. Although the ketogenic diet has not completely proven to help to fulfil the nutritional needs of a sports player, but sportspersons such as footballer Time Tiebow mentioned in GQ in a report in 2017, said that he followed the ketogenic diet. Witnessing the rise in demand for ketogenic based products, manufacturers worldwide are steadily launching new products for the ketogenic population in 2018.
Due to the Covid 19 lockdown and social distancing norms, people were forced to shop online. This is one of the major reasons for the boost in online sales of the ketogenic products. For instance, Love You Foods LLC has distributed their products online as well as retail outlets of The Vitamin Shoppe. Rise in use of smartphones and access to internet has also created a larger base of consumers online.
Due to its extremity to aid weight loss, Ketogenic diet market will see a setback in its growth during the forecast period. The Ketogenic diet has been associated with health risks such as “Keto-Flu”. Instability in following the diet and rebounding to old eating habits make consumers hesitant to follow the diet. This is another factor which is seen as hindering the growth of the ketogenic diet market. There are a wide variety of diets such as Vegan diet, Paleo diet among others which are widely popular and hence may act as restraints to the ketogenic market growth.
The Global Ketogenic Diet Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the Global Ketogenic Diet Market are:
The unique insights provided by this report also includes the following:
Based on product type, Supplement segment held the largest share of 50% in the year 2020
Based on product type, the supplement segment is accounted for 50% of the share during the base year in the ketogenic diet market. Supplements such as oil, capsule and powder are available. These supplements fulfil the requirements of nutrients in the body. The rise in demand for food supplements and increasing awareness among consumers about the ketogenic diet is the reason for the growth of the ketogenic diet market.
On the basis of distribution channel, Online retail stores segment will hold the prime share in the growth of the ketogenic diet market during the forecast period.
Based on the distribution channel, the online stores segment is expected to be the fastest-growing channel during the forecast period. The online retail stores segment has been popular amongst the millennials and working-class population worldwide. According to a report published by Statista, 59.7% of the population has access to the internet. Additionally, online retail stores have lesser intermediaries which increase profit margins as compared to other means of distribution channels. These factors are attributed to the growth of the ketogenic diet market.
Based on regions, North America is Expected to Hold the Largest Share in the Ketogenic Diet Market during the forecast period.
Based on region. North America is expected to account for the highest share in the ketogenic market during the forecast period. One of the main reasons for the rise in the ketogenic market in this region is due to the high population of obese people. As per a recent report of 2020 by Healthline, more than one third of the population in the US are obese. As the ketogenic diet has been proved to be successful with reducing obesity, many people in this region have adapted to this diet. According to an article published by Eat This Not That, 2020, Ketogenic diet has been found to be the most popular diet. Major key players situated in this region is another factor that is driving the growth of the ketogenic diet market. The key players are investing heavily in manufacturing new products based on consumer demands. For instance, Ketologie released a new nutritional supplement named Ketones + Probiotics in 2019, aiming to boost ketone levels along with supporting gut health. All these factors will enhance the growth of the ketogenic diet market.
The report also provides in-depth analysis of market dynamics such as drivers, restraints opportunities and challenges
Covid 19 Impact on the Ketogenic Diet Market
The Covid 19 impact was also seen in the ketogenic diet market. Most consumers worldwide have adapted to living a healthier lifestyle after the pandemic. Thus, there has been a rise in the consumer base towards an intake of healthier diets. Awareness of ketogenic diet and ketogenic products are available on social media and other online platforms. With larger access to the internet and concern for health, the consumers of the ketogenic diet have increased. However, the number of buyers of ketogenic products have increased online rather than of supermarkets or hypermarkets. This is due to the social distancing norms laid down by governments all around the world. All these factors have led to the growth of the ketogenic diet market.
The report also provides an in-depth analysis of key market trends
|1||Rebounding to old eating habits and not following Keto diet as suggested||Negative|
|2||Variety of products being introduced by key players ranging from ghee to chocolate powder and many others||Positive|
|3||Wide variety of diets present worldwide||Negative|
The report also provides an in-depth analysis of recent News Developments and Investments
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