Diabetic food products are specially formulated to aid effective management of blood glucose levels in individuals suffering from diabetes. These include low glycemic index foods containing whole grains, fruits, vegetables and high protein foods to help control hunger and blood sugar spikes. Substituting regular foods with diabetic alternatives can help achieve glycemic control and prevent complications.
The global Diabetic Food Market is estimated to be valued at US$ 15.11 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of diabetes across the globe represents a key trend accelerating growth of the diabetic food market. According to the World Health Organization (WHO), the global prevalence of diabetes among adults over 18 years of age has nearly quadrupled since 1980, rising from 4.7% to 8.5% in 2014. The International Diabetes Federation estimates that 463 million adults were living with diabetes in 2019, with the number expected to rise to 578 million by 2030 and 700 million by 2045. Increasing cases of both type 1 and type 2 diabetes has spurred demand for specially formulated low glycemic foods, snacks, beverages and bakery products designed to help diabetic patients better manage their condition. Advanced product launches incorporating all-natural ingredients along with health claims are boosting consumer confidence in these foods.
Segment Analysis
The global diabetic food market is dominated by the bakery and confectionery segment. This segment currently accounts for over 30% of the global market share owing to rising demand for diabetic-friendly substitutes for sugary snacks and baked goods. As more diabetics seek snacks and desserts that help manage blood glucose levels, the demand for diabetic-approved alternatives to normal bakery and confectionery items is expected to remain high.
Key Takeaways
The Global Diabetic Food Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Diabetic Food Market is estimated to be valued at US$ 15.11 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.
North America currently dominates the global diabetic food market and accounts for around 40% of the global market share. This dominance can be attributed to rising awareness about managing diabetes and availability of a wide range of diabetic foods in the region. Moreover, supportive regulatory frameworks and presence of major players drive market growth. However, Asia Pacific is expected to be the fastest growing regional market owing to growing diabetic population coupled with rising health consciousness in countries like India and China.
Key players:
Key players operating in the diabetic food market are 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 and geographic expansion to meet the rising demand and strengthen their position in the global market.
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