The diabetic food market is expected to reach USD 12,000 million by 2024. Over the next 10 years, the industry is expected to grow at an 8.3% CAGR. The revenue for diabetic food is expected to be USD 17,891 million by 2034.
Diabetes is becoming more prevalent, which is increasing demand for diabetic foods. This disease is rapidly spreading over the world, impacting people’s metabolic activity. The International Diabetes Federation estimated in 2021 that 10.5% of the adult population, aged 20 to 79, is suspected of having diabetes.
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The global diabetic food market is experiencing remarkable growth, driven by increasing health consciousness among consumers, rising incidences of diabetes, and continuous product innovations by market players. Diabetic foods are specially formulated to cater to the dietary needs of individuals with diabetes, focusing on low sugar and carbohydrate content to help manage blood glucose levels.
Demand for diabetic food market:
The demand for diabetic food products is on the rise, fueled by the growing prevalence of diabetes worldwide. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021, a number projected to increase significantly by 2045. Consumers are becoming more health-conscious and are actively seeking food products that help manage their blood sugar levels while offering nutritional benefits. This shift in consumer behavior is driving the demand for diabetic-friendly foods, including snacks, beverages, and meal replacements.
Growth for diabetic food market:
The diabetic food market is anticipated to grow at a robust CAGR over the forecast period of 2024 to 2034. Several factors contribute to this growth, including:
- Increased Health Awareness: A rising awareness about the importance of maintaining a healthy diet to prevent and manage diabetes is propelling market growth.
- Technological Advancements: Innovations in food processing and ingredient formulation are enabling the development of tasty and nutritious diabetic-friendly products.
- Expansion of Product Lines: Manufacturers are broadening their product portfolios to include a variety of diabetic food options, catering to different consumer preferences and dietary needs.
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Key Takeaways from the Diabetic Food Market Report
- The diabetic food industry is projected to total USD 17,891 million by 2034.
- By product type, the confectionery segment is projected to acquire a 4%s hare in 2024.
- Based on the distribution channel, the supermarkets and hypermarkets segment is anticipated to obtain a value share of 32%in 2024.
- The United States is projected to account for a value share of 4% in 2024.
- China is poised to register a CAGR of 2% through 2034.
Key Developments for the diabetic food market:
Leading companies in the diabetic food market are focusing on strategic initiatives to strengthen their market presence. Some key developments include:
- Product Launches: Introduction of new and innovative diabetic food products, such as low-sugar snacks, high-fiber meals, and sugar-free beverages.
- Partnerships and Collaborations: Companies are forming strategic alliances with healthcare providers and nutritionists to promote their products and educate consumers about diabetes management.
- Research and Development: Increased investment in R&D activities to enhance product formulations and develop new ingredients that cater to diabetic dietary requirements.
Regional Analysis of diabetic food market:
- North America: The largest market for diabetic foods, driven by high diabetes prevalence and strong consumer awareness. The U.S. and Canada are major contributors to the market’s growth.
- Europe: Significant growth in the European market, with countries like Germany, the UK, and France leading due to increased health awareness and supportive government initiatives.
- Asia-Pacific: Rapid market expansion is observed in this region, attributed to the rising diabetic population, improving healthcare infrastructure, and growing middle-class population with disposable income.
- Latin America and MEA: These regions are also witnessing gradual growth due to increasing awareness about diabetes management and rising healthcare investments.
Competitive Analysis of diabetic food market:
The diabetic food market is highly competitive, with several key players striving to enhance their market share. Major companies include:
- Nestlé S.A.: A leading player with a broad range of diabetic-friendly products and continuous innovations.
- Unilever PLC: Known for its diverse product portfolio and strong market presence globally.
- Abbott Laboratories: Focused on nutritional products for diabetic patients, leveraging its extensive research capabilities.
- Danone S.A.: Offers specialized nutrition products for diabetes management, emphasizing health benefits and taste.
- The Hain Celestial Group, Inc.: Emphasizes organic and natural diabetic food products, catering to health-conscious consumers.
These companies are investing in marketing strategies, expanding their product lines, and improving distribution channels to enhance their market position and meet the growing consumer demand for diabetic foods.
Key Segments of Market Report
By Product Type:
Based on product type, the sector is divided into dietary beverages, dairy products, baked products, ice cream and jellies, and confectionery, among others.
By Distribution Channel:
Various distribution channels for diabetic food include supermarkets and hypermarkets, specialty stores, grocery stores, online stores, and others.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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