by The global diabetic food market offers a wide range of food products that are suitable for people suffering from diabetes. This includes sugar-free confectionaries, baked goods, snacks, and desserts made from artificial or natural substitutes for sugar such as stevia, xylitol, and tagatose. With growing health consciousness among consumers and increasing prevalence of diabetes worldwide, the demand for specially formulated diabetic foods is rising significantly.
The global Diabetic Food Market is estimated to be valued at US$ 13.11 Billion in 2023 and is expected to exhibit a CAGR Of 6.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increased awareness about healthy eating: Growing awareness about risks of diabetes and benefits of healthy eating is a key factor fueling the demand for diabetic foods. Various government and private entities are undertaking initiatives to educate people about importance of balanced diet and lifestyle modification in diabetes management. This is positively impacting the market growth.
Increased prevalence of diabetes: Rising incidence of diabetes owing to obesity, sedentary lifestyle and unhealthy dietary habits is another major growth driver. As per International Diabetes Federation data, approximately 537 million adults were living with diabetes in 2021 worldwide and the number is projected to rise to 643 million by 2030 and 783 million by 2045. Growing diabetic patient pool will augment the sales of various specially formulated food products.
Segment Analysis
The diabetic food market can be segmented into dairy products, bakery products, Dietary beverages, confectionery products and others. Among these, dairy products is the dominating segment holding around 30% share in 2024. Dairy products like milk, yogurt contains low glycaemic index and are rich source of protein which helps control blood sugar levels efficiently.
PEST Analysis
Political: The governments across regions are supporting industries producing diabetic friendly food products through various policies and initiatives in order to curb increasing diabetic rates.
Economic: Rising healthcare costs due to diabetes and increasing disposable income are driving growth of diabetic food market. However, high prices of specialized food items can restrain market growth.
Social: Increasing health awareness regarding management of diabetes and advantages of consuming specialized food is positively impacting market growth. However, taste preference can limit adoption of certain food variants.
Technological: Development of new formulations, use of natural ingredients, customized recipes as per diabetic condition are some technological trends shaping the market. Standardization of quality is also being ensured through advanced processing technologies.
Key Takeaways
The Global Diabetic Food Market Demand is expected to witness high growth at a CAGR of 6.2% during the forecast period of 2023 to 2030.
Regional analysis :
North America dominates with around 30% market share in 2024owing to growing diabetic population,awareness andproduct innovation.Asia Pacific is fastest growing region due torising disposableincome andincreasing healthcareinvestments.
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, partnerships and expansion to strengthen their market position.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
