Diabetic Food Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Diabetes

Purvaja Jadhao

posted on 11 months ago — updated on 1 second ago

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The global diabetic food market is estimated to be valued at US$ 12.4 billion in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Diabetic Food Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Diabetes

Market Overview:
The diabetic food market offers a range of food products that are specifically designed for individuals with diabetes. These products are low in sugar and carbohydrates, and are often enriched with dietary fiber and essential vitamins and minerals. The key advantage of diabetic food products is that they help in managing blood sugar levels and maintaining a healthy diet for individuals with diabetes. With the increasing prevalence of diabetes worldwide, the demand for diabetic food products is steadily rising.

Market Key Trends:
One key trend driving the growth of the Diabetic Food Market Demand is the growing awareness about the importance of a healthy diet in managing diabetes. With the rising incidence of diabetes, individuals are becoming more conscious about their food choices and are actively seeking out products that are suitable for their condition. This has led to the development of a variety of diabetic-specific products, such as sugar substitutes, low-carb snacks, and diabetic-friendly beverages. Additionally, advancements in food processing technologies have enabled the production of diabetic food products that are not only healthy but also taste good, further boosting market growth.
PEST Analysis:

Political: The political factor affecting the diabetic food market revolves around government regulations and policies. Government initiatives to promote a healthy lifestyle and control diabetes prevalence through campaigns, taxes, and regulations on sugar content in food products can impact the market positively. Additionally, political stability and trade policies can also influence the market.

Economic: The economic factor plays a vital role as purchasing power and disposable income of consumers affects their ability to afford diabetic food products. Economic growth, inflation rates, and employment levels can impact consumer spending. Rising healthcare costs and increasing demand for affordable diabetic food options are also economic factors that influence the market.

Social: The social factor is characterized by the consumer preferences and lifestyle choices related to healthy eating habits. The increasing awareness of the health benefits associated with diabetic food products, such as low sugar, low calorie, and organic options, drives the demand for such products. Changing dietary patterns, aging population, and rising incidence of diabetes contribute to the social factors influencing the market.

Technological: The technological factor plays a significant role in product development and innovation. Advancements in food processing technologies, such as the use of natural sweeteners and substitutes, have enabled the production of diabetic-friendly food products with enhanced taste and quality. Technological advancements in packaging and preservation techniques also influence the market.

Key Takeaways:

The global diabetic food market is expected to witness high growth, exhibiting a CAGR of 5.7% over the forecast period (2022-2030). The market is driven by the increasing prevalence of diabetes worldwide and the growing demand for healthier food options among diabetic patients. The rising awareness of diabetic food products and the adoption of a healthy lifestyle also contribute to market growth.

Regionally, North America is the fastest-growing and dominating region in the diabetic food market. The region's high prevalence of diabetes, supportive government initiatives, and well-established healthcare infrastructure are key factors driving market growth. Europe and Asia Pacific also have significant market shares due to the growing diabetic population and increasing health consciousness among consumers.

Key players operating in the diabetic food market include Nestle S.A., Unilever Plc, PepsiCo Inc., Cadbury Plc, The Coca-Cola Company, Kellogg Company, Fifty 50 Foods, Inc., Mars Inc., Newtrition Plus Health and Wellness Pvt. Ltd, and Herboveda India. These key players focus on product innovation, strategic partnerships, mergers and acquisitions, and marketing campaigns to capture a larger market share and meet the evolving needs of diabetic consumers.