Global Diabetic Food market is estimated to be valued at US$ 12.4 Billion in 2022, according to the Global Diabetic Food Market Report, by Application (Dietary beverages, Ice cream and jellies, Dairy products, Confectionery, Baked products, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa), published by Coherent Market Insights.
Global Diabetic food market was valued at US$ 12.4 Billion in 2022. Diabetic food market is expected to register a CAGR of 5.7% over the forecast period (2023–2030), to reach US$ 19.4 Billion by 2030. Diabetic food products are intended to be consumed by diabetes patients as these foods have low sugar and carbohydrate content. Diabetic food can be consumed by healthy people as a precautionary measure. Diabetic food products are used across various applications such as confectionary, dietary beverages, snacks, baked products, ice creams & jellies, and dairy products.
Gloabal 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.
Drivers
- Growing of population
The world's ageing population, which is susceptible to diabetes, is expected to boost the market for diabetic dietary goods. According to the World Health Organisation (WHO), the proportion of the world's population over 60 years old will nearly double between 2020 and 2050, rising from 12% to 22%. By 2050, low- and middle-income countries will house 80% of the elderly.
Market Restraints
- High cost
Diabetes food is pricey because it contains low-calorie sweeteners and other healthy ingredients, which enhances the overall cost of the food product. As a result, the high cost of this food is expected to limit the diabetic food industry's growth. Consumers' lack of knowledge about the health benefits of diabetic food is limiting demand. As a result, the diabetic food industry is expected to expand slowly in rural areas due to a lack of understanding about the product.
Market Trends of the Global Diabetic Food Market:
- Low-calorie meals and beverages are increasingly popular.
Low-calorie food and beverage is a popular concept in market which is projected to accelerate the market growth of diabetic food. Rising obesity cases around the globe are also creating demand for low-calorie food and beverage which is further expected to foster the market growth of diabetic food. Rapid urbanization coupled with the rising awareness regarding the health benefits of sugar-free products, energy-drinks, and aerated drinks is further anticipated to foster the market growth of diabetic food.
Partnership and collaboration among major players is one of the current trends in market and this trend is expected to fuel the market growth of diabetic food. For instance, in September 2022, Nestle, a food and drink processing company, announced that it is exploring emerging technologies for the development of animal-free dairy protein-based products.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/diabetic-foods-market-3926
Key Takeaways of the Global Diabetic Food Market:
- On the basis of application, dietary beverages dominated the global diabetic food market in 2022 with around 29% of market share in terms of revenue, followed by ice cream jellies and dairy products respectively.
- On the basis of regional analysis, the global diabetic Food Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America is the dominant region for diabetic food market and held the largest market share. North America is the top consumer of diabetic food, owing to increased health concerns caused by high blood glucose levels and an aging population, particularly in the U.S. Obesity is another factor driving up demand for diabetic foods in the U.S., which is expected to propel the market forward.
- Key tactics followed by companies in the global diabetic food market include new product releases, mergers and acquisitions, strategic partnership growth, and research and development initiatives for diabetic food.
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
