Diabetic Food Market to Reach USD 14.66 Billion by 2027, Propelled by Growing Diabetic Population and Increasing Awareness
As per the latest report by Renub Research titled “ Diabetic Food Market Global Forecast Report by Products (Confectionery, Snacks, Bakery Products, Dairy Products, Others) Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online, Others) Countries and Company Analysis, 2024-2032″ the Global Diabetic Food Market was US$ 13.80 Billion in 2023 and will grow US$ 23.33 Billion by 2032, with a CAGR of 6.01% from 2024 to 2032. Globally, diabetes is one of the biggest public health problems: it refers to a metabolic disease that leads to high blood sugar levels. The leading cause behind diabetes is insufficient insulin or no response in the body cells where the insulin is produced. Therefore, growing incidences of diabetes are primarily fuelling the demand for diabetic food products worldwide.
Diabetic foods are dietary products rich in sugar content and carbohydrates. They help in controlling increasing blood glucose. Diabetic food is lower in diet beverages and calorie sweeteners, these products are consumed by diabetic patients and those who fear having diabetes. Apart from this, diabetes also harms various other body parts such as the nerves, eyes, brain, kidneys, and feet. Food products such as brown rice, quinoa, oatmeal, whole grains, and millet are considered healthy foods for people who have diabetes. The non-diabetic population can consume these products as a precautionary measure to prevent the disease in the future.
Market Dynamics Diabetic Food Industry
Across the globe, the increasing diabetic populations, coupled with the rising awareness of various health issues associated with diabetes, are the essential factors driving the market’s growth. For instance, according to the (WHO) World Health Organization, in 2021, 463 million people have diabetes globally. By 2045, this number will grow to some 700 million diabetics globally.
Furthermore, a hectic lifestyle and increasing demand for junk food lead to diabetes which is expected to fuel diabetic food over the coming year. Besides, the growing use of artificial sweeteners such as acesulfame potassium, aspartame, and neo-tame as a substitute for sugar is again predicted to propel the market’s growth. Also, growing (R&D research and development) to produce diabetic food products and a diversified diabetic development portfolio that caters to the requirements of a broad consumer base are further catalyzing the market growth.
Impact of Covid-19 on Diabetic Food Industry
The COVID-19 pandemic is affecting diabetic food and nutrition security through food system disruptions, financial and social systems shocks, and gaps in coverage of essential health and nutrition services. People with diabetes are at more significant risk of severe infection and death with COVID-19. COVID-19 has seriously impacted individuals living with diabetes through diabetic food, financial implications and medication scarcity, and mental health burden.
Dietary Beverages Emerged as the Leading Application
Based on the Application, the diabetic food market is bifurcated into Confectionery, Ice cream, Jellies, Dietary Beverages, Baked Products, Dairy Products, Others (including snacks). Dietary beverages are a considerable market due to the rising demand for sugar-free, low-calorie, and nutritional beverages. It is simply a varied diet that people with type 2 diabetes or even above blood pressure should utilize to control better symptoms and potentially dangerous complications of high blood glucose. The broad availability of dietary beverage options across developed economies is projected to aid the segment’s growth in the forthcoming years.
As per the distribution channel, the diabetic food market is segmented into Supermarkets/Hypermarkets, Health Food stores, Discount stores, Online Sales, and Others. Super Markets or Hyper Markets is the significant market, due to the easy availability of a wide variety of diabetic food like Confectionery, Ice Creams, and Jellies Baked Products, Dairy Products, and Others (including snacks) and discounts offered by Super Markets and Hyper Markets. Furthermore, the sale of diabetic food products through online distribution channels is expected to be the fastest-growing distribution channel. Owning to online avenues is convenient and is gaining popularity globally to deliver different food products.
North America and Europe is the Leading Consumer of Diabetic Food
Geographically, the diabetic food market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is the highest buyer of diabetic food, owing to increased health concerns caused by an aging population and high blood glucose levels, particularly in the United States. Obesity is another aspect driving up demand for diabetic foods in the United States. As per National Diabetes Statistics, in 2020, 26.9 million people of all ages, or 8.2% of the U.S. population, had diabetes.
Similarly, Europe is anticipated to witness substantial demand growth on raising awareness regarding healthy lifestyles in the region. People are diverting their choices to adopt a healthy lifestyle, creating demand for low-calorie and sugar-free food diabetic products like Confectionery, Ice Creams, Jellies, Dietary Beverages, Baked Products, Dairy Products, Others.
Competitive Landscape:
Global vital companies in the diabetic food industry include Unilever PLC, Nestle S.A., Kellogg Company, Danone S.A., and The Coca-Cola Company. The companies are launching new products to gain larger market share.
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Market Summary:
Application – We have covered Diabetic Food Market breakup by 6 viewpoints by- application (Confectionery, Ice cream, Jellies, Dietary Beverages, Baked Products, Dairy Products, Others (including snacks)
Distribution – Renub Research Report covers by Indication in the 5 viewpoints (Supermarkets/Hypermarkets, Health Food stores, Discount stores, Online Sales, and Others)
Region – This Report covers by Region in the 5 viewpoints (North America, Europe, Asia Pacific, Middle East & Africa, and South America)
All the major players have been covered from 3 Viewpoints (Overview, Recent Development, and Revenue Analysis) Unilever PLC, Nestle S.A., Kellogg Company, Danone S.A., and The Coca-Cola Company.
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