DIABETIC FOOD MARKET ANALYSIS

Global diabetic food market was valued at US$ 12.4 Billion in 2022 in terms of revenue, exhibiting a CAGR of 5.7% during the forecast period (2022 to 2030).

Drivers

Rising cases of diabetes around the globe is a prime factor augmenting the market growth of diabetic food products.

Thus, growing prevalence of diabetes is projected to foster the market growth of diabetic food. Growth in the aging population around the globe as they are highly prone to diabetes is expected to accelerate the market growth of diabetic food products. According to the World Health Organization (WHO), between 2020 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. By 2050, 80% of older people will be living in low- and middle-income countries.

Diabetic Food market is the increasing diabetic population

 Rising health-awareness, diabetes concerns, and rising obesity are all contributing to the growth of the diabetes Food industry. However, the comparatively expensive prices of the items are impeding market expansion. Diabetic food product awareness is growing, as is the demand for them. Consumption of sugar substitutes is predicted to generate several chances for the Diabetic Food industry to develop.

Global Diabetic Food Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 pandemic is having an impact on the diabetic food market by causing economic and social system shocks, food system disruptions, and gaps in vital health and nutrition service provision. Following COVID-19, food systems in low- and middle-income countries must adjust and increase food and nutrition security.

Market Restraints

The high cost of diabetic food due to use of low-calorie sweeteners and other healthy ingredients increase the overall cost of the food product. Thus, the high cost of this food is expected to hinder the market growth of diabetic food. Lack of awareness regarding the health benefits of diabetic food among consumers is hampering demand for the food. Hence, the lack of awareness regarding the food product across rural areas is expected to restrict the market growth of diabetic food in the near future.

Figure 1. Diabetic Food Market, By Region, 2022

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Market Trends

Consumption of baked products with sugar substitutes around the globe is a growing trend in market. This trend is expected to foster the market growth of diabetic food. Increasing expenditure on healthy food products by consumers due to the rising health wellness trend in market is expected to augment the market growth of diabetic food. Improving lifestyle coupled with the growing disposable income of the populations is expected to fuel the market growth of diabetic food. Furthermore, growth in the population coupled with the rising prevalence of juvenile diabetes among children is further anticipated to accelerate the market growth of diabetic food.

Global Diabetic Foods Market-: Regional Analysis

North America dominated the global diabetic food market and accounted for the greatest revenue share in 2022, owing to growing health difficulties caused by high levels of blood glucose and an ageing population, primarily in the U.S. Furthermore, high blood pressure and cholesterol are key causes for the increased demand for diabetic meals in the U.S., which is expected to present the market with development opportunities.

Market segmentation: By Application

On the basis of application, dietary beverages dominated the global diabetic foods market in 2022 with around 29% of market share in terms of revenue, followed by  ice cream and jellies and dairy products respectively.

Figure 2. Diabetic Food Market, By Type, 2022

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Recent Developments

1. In January 2020, Nestlé, a food and drink company, a coffee, chocolate manufacture and Merit Functional Foods, a food and beverage company, entered into a joint development agreement to scale pea and canola protein supply, which will help growth of Nestle.
2. In December 2021, Nestlé, a food and drink company, a manufacture launched its first pre-diabetes program in Malaysia. The program comprises a novel food supplement (Nestle GlucoSmart) which can be sprinkled over meals as part of a healthy diet to help maintain normal blood glucose after a meal.
3. In February 2022, Kate Farms, glucose a manufacture support 1.2 plant-based, organic Nutrition Shake for diabetics was released in the North America.

Competitive Section

Major players operating in the global 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

*Definition; Diabetic food products are dietary food products that are low in sugar and carbohydrate contents and help to control the rising sugar level in the blood. Diabetic food also includes low-calorie sweeteners, diet beverages with low-calorie sweeteners such as lactitol, aspartame, and sorbitol.