The global diabetic food market is estimated to be valued at US$ 15.11 billion in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period of 2024-2031. Diabetic foods refer to food items designed specifically to regulate blood sugar levels in people suffering from diabetes. Some common diabetic food products include bakery products, dairy products, beverages, snacks, and others. The growing prevalence of diabetes around the world has significantly increased the demand for specially designed diabetic foods that help keep blood glucose levels under control. Diabetes is affecting millions every year, increasing healthcare costs. The need for healthier food options to manage diabetes symptoms and prevent further health complications is driving the diabetic food market.
Key Takeaways
Key players operating in the Diabetic Food Market Demand include Waifair LLC,Westminster Teak Inc.,Polyteak,Bajanusa Furniture,Frontgate,Gloster Furniture GMBH,Nusantara Teak,Teak Heirlooms,Raft Furniture,Wihardja,Artisera,Teak & Mahogany,Dania Furniture,Danish Teak Classics,Casateak Teak wood furniture,Teak Vogue Sdn Bhd,CV.Jepara Crafter Furniture,Wisanka Indonesia,Kalingga Jati Furniture,Republic Furniture Group. These key players are focusing on new product launches, partnerships, acquisitions, and expansions to gain a competitive advantage in the market.
The global diabetic food market provides numerous growth opportunities for industry players, such as increasing awareness about diabetes management, new product innovations catering specific dietary requirements of diabetes patients, and growing focus on healthy lifestyles. Factors such as rising healthcare costs of diabetes treatment and its associated complications are compelling people and governments worldwide to focus on preventive care through nutrition and diet. This is encouraging global expansion of diabetic food brands across developing and emerging economies.
Market Drivers and Restraint:
One of the key drivers for the global diabetic food market is the rising prevalence of diabetes around the world. According to the International Diabetes Federation, the global prevalence of diabetes among adults over 18 years of age has nearly doubled in the past three decades, rising from 4.7% in 1980 to 8.5% in 2014. The growing geriatric population, sedentary lifestyles, obesity rates, and urbanization are contributing to the increase in diabetes cases globally.
However, one of the major restraints in the market is the higher prices of specially formulated diabetic food products compared to normal food items. This makes diabetic food less affordable for some people living with diabetes, especially in developing countries. Additionally, lack of awareness about the nutrient composition and benefits of specifically designed diabetic food remains a challenge, especially in rural areas of emerging nations.
Segment Analysis
The diabetic food market is segmented into dairy products, bakery products, diet soft drinks, breakfast cereals and snacks, spreads, confectionery, beverages and others. Among these, dairy products hold the largest market share owing to high consumption of milk and yogurt by diabetics. Dairy products provide essential nutrients like protein, calcium and vitamin D without affecting blood sugar levels, making them ideal for diabetes management.
Global Analysis
Regionally, North America dominates the diabetic food market with the largest revenue share. This is majorly attributed to rising awareness about healthy diets and growing diabetic population due to sedentary lifestyles. Increasing demand for sugar-free and low glycemic index foods is further propelling the market growth. Asia Pacific is expected to emerge as the fastest growing region during the forecast period. Factors such as rapidly growing geriatric population, improving healthcare infrastructure and rising per capita expenditure on health-related products are fueling the diabetic food consumption in Asia Pacific countries.Additionally, expanding base of diabetic populace along with growing disposable income are augmenting the market growth in Asia Pacific.
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