Due to the increasing prevalence of overweight and obesity and their associated health problems, the demand for low‐calorie and low‐fat foods is growing worldwide, especially in the fast food and convenience sectors. However, fat‐ or calorie‐reduced products are often accompanied by sensory deficiencies. Although fat reduction in foods has been addressed in literature, an ideal fat replacer has not been identified due to the variety of fats, their multifarious functions in foods, and the wide range of food products. The aim of this work was to investigate the influence of selected fat replacers on the properties of reduced‐fat model emulsion systems and processed cheese. The use of dietary fibers as fat replacers was of particular interest due to their intrinsic health benefits. In addition, both new and established methods of measurement of sensory attributes were applied and compared to determine correlations of findings between different methods of measurement. Chapter 1 addresses the influence of fat replacers on attributes such as energy density, flowability, and firmness in a real food product, processed cheese. To this end, microparticulated whey protein (MWP), which has been widely used as a fat replacer, and three dietary fibers (corn dextrin (CD), inulin, and polydextrose), were used in reduced‐fat processed cheese slices. A reduction in energy density of about 30 to 40% was achieved using a fat replacer compared to standard commercial full‐fat processed cheese. Higher CD and inulin concentrations reduced the flowability of the cheese slices upon heating, but only had a minor impact on the firmness of the unheated cheese. The addition of MWP resulted in firmer cheese slices with higher flowability compared to the other fat replacers. However, changes in the MWP concentration had little effect on either property. The results demonstrated that different fat replacers with varying concentrations need to be applied to achieve desired attributes for specific conditions of use, e.g., unheated cheese in sandwiches or heated cheese in cheeseburgers. To evaluate newly developed reduced‐fat foods, the impact of fat replacers on sensory properties and aroma release also needs to be investigated, which is addressed in chapters 2 to 4. Due to the complex composition of cheese, systematic investigation of the mode of action of fat replacers is difficult. Therefore, emulsion‐based model foods were used to eliminate interfering factors and natural variations of ingredients. The second study (chapter 2) focused on developing and validating appropriate methods to investigate the effects of fat, fat reduction and the use of fat replacers on emulsion systems. Tribology, a comparatively new method in food research, was used to instrumentally analyze selected aspects of food mouthfeel. Reduced‐fat salad mayonnaises were prepared as separate samples containing different CD concentrations, and characterized using textural, rheological and tribological analyses together with measures of spreadability and human‐sensory analysis. The results showed a very high correlation between tribological measurements and the sensory evaluation of the attribute stickiness. In addition, it was shown that some correlations between instrumental and sensory data were best described by a non‐linear correlation (Stevens’ power law), such as the relationship between Texture Analyzer measurements and sensory sensations of firmness. Furthermore, the Kokini oral shear stress correlated very well with the sensory attribute creaminess. Hence, the instrumental analytical methods used showed the potential to predict elements of the sensory analysis and reduce the overall analytical effort. While aroma release plays a key role in consumer acceptance, the influence of fat replacers on this attribute has rarely been studied. The third study (chapter 3) therefore investigated not only techno‐functional properties but also the release of typical cheese aromas using a liquid emulsion as a model food. While both MWP and CD exhibited a retarding effect on the release of lipophilic aroma compounds, MWP also reduced the release of hydrophilic aroma compounds. It was also shown that aroma release is not only influenced by a change in viscosity, but also by interactions between aroma compounds and fat replacers. In this context, CD exhibited a similar ability to interact with aroma compounds as fat, which is desirable for the development of low‐fat foods. In the final study (chapter 4), the findings and methods developed in chapters 1‐3 of this work, supplemented with additional methods, were used to investigate the effect of fat reduction and CD concentration on a model processed cheese spread (PCS). By replacing 50% of fat completely with CD, the fat content of the PCS could be reduced without causing any significant changes in properties compared to the full‐fat version, e.g. in firmness, flowability upon heating and aroma release. CD was determined to be a promising fat replacer, mimicking important properties of fat. Additional correlations, such as those between the parameters of Winter's critical gel theory (gel strength and interaction factor) and spreadability and lubrication properties were identified and can help to further reduce the analytical effort. In conclusion, CD has been confirmed as a promising fat replacer in both liquid and semi‐solid food emulsion products. Furthermore, this work contributes to closing the research gap in the instrumental measurement of sensory attributes by outlining correlations, for example, between tribological methods and mouthfeel sensations. Thus, the evaluation tools of this work can help to assess the potential applications of new fat replacers without extensive application and sensory testing which significantly shortens the development time for food manufacturers. In addition, the results contribute to a better understanding of the interactions between fat, fat replacers and aroma compounds in food matrices. This facilitates the systematic development of reduced‐fat processed cheese and other dairy‐ and emulsion‐based products which meet consumer preferences and accelerate the trend towards healthy eating.