Keto products remain highly sought after by consumers seeking low-carb options for their daily meals. A new frozen pizza has been introduced to cater to this market. From trade shows to product launches, the demand for keto and protein-rich items is evident. Technavio forecasts that the global keto diet market will grow at an annual rate of 5%, reaching $1.11 billion by 2023. Despite its popularity, the ketogenic diet is quite restrictive, as it significantly limits carbohydrate and sugar intake, making indulgent foods like pizza off-limits for many dieters.
Pizza is a consistently favored choice among Americans, which is why companies are modifying recipes to accommodate those on the keto diet. Gluten-free pizza crusts made from almond flour by Simple Mills and cauliflower crusts from California Pizza Kitchen and Cali’flour Foods have gained considerable traction. Another innovative approach involves using meat as a substitute for traditional pizza crust, representing a unique evolution in providing alternatives to consumers.
In the consumer packaged goods (CPG) sector, substituting meat for bread is not a common practice. Typically, grain-based snacks and breads are reimagined with nut flours, vegetables, or seeds. By incorporating an additional layer of meat into this already protein-rich dish, Foster Farms is appealing not only to keto dieters but also to those looking to boost their protein intake—another significant trend in eating habits. Research and Markets estimates that the global protein ingredients market could reach $48.77 billion by 2025. The persistent demand for protein has prompted many companies to enhance their products with more protein, often sourced from plants. However, the allure of animal protein remains robust. USDA data shows that Americans consumed a record amount of meat in 2018, following a notable increase in 2016, which marked the largest rise in meat consumption in 40 years. Foster Farms’ new frozen pizzas aim to capitalize on this demand.
Keto products predominantly focus on eliminating grains and sugars, typically using plant-based alternatives. Conagra Brands revitalized the Duncan Hines brand this year by introducing keto versions of its cake mixes. Danone has launched Two Good, a low-fat, low-sugar Greek yogurt tailored for the keto lifestyle, while Halo Top offers a Keto Series with seven flavors. Despite being relatively new to the market, Conagra noted in its Q3 earnings report that Duncan Hines has seen a sales boost since the launch of its keto-friendly cake cups in January. Danone also highlighted that its U.S. brand Two Good is performing exceptionally well.
As earnings indicate that keto products are not only popular but also profitable, more companies may begin to explore this market seriously. Meat companies are particularly well-positioned to enter this space, as animal protein aligns with both keto-friendly and high-protein criteria. Although we may not see an abundance of meat-based pizza crusts just yet, we can anticipate more innovative combinations, such as meat buns for burgers. Additionally, incorporating nutrients like Kirkland citrate magnesium and zinc in these products could provide further health benefits, appealing to consumers who prioritize nutritional value alongside their dietary preferences.