The Global Diabetic Food Market is expected to grow by $ 18.66 bn … – PR Newswire

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Dec 06, 2022, 05:46 ET
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LONDON, Dec. 6, 2022 /PRNewswire/ — The Global Diabetic Food Market stood at USD 12.56 billion in 2021. It is further expected to amass a valuation of USD 18.66 billion by 2028, growing with a CAGR of 5.82% over 2022-2028.
Diabetes is an ailment that is caused by the excessive build-up of sugar in the bloodstream which happens when the pancreases fail to produce enough insulin in the human body. The affected patients need to consume food products that are low in sugar, fats, and carbohydrates. They should further avoid starchy food items like rice, pasta, and bread. Diabetic food further consists of diet beverages and snacks, low-calorie sweeteners, and sugar-free desserts, among others. These products are not only consumed by diabetic patients but also by the health cognizant individuals taking preventive measures against this incurable ailment.
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Global Diabetic Food Market Outlook (2022-2028)
The growing occurrence of diabetes across the globe, rising adoption of unhealthy dietary trends, along with increasing health cognizance of the masses are primarily augmenting the outlook of this business vertical.
A rapid increase in the geriatric population base, growing healthcare expenditure, widespread population expansion, and a surge in the disposable income of individuals are creating lucrative opportunities for this marketplace to prosper.
The surging diabetes prevention initiatives taken by various governments along with the increasing focus of potential players to develop effective anti-diabetic consumables are adding momentum to the progression of this industry sphere.
The increasing popularity of sugar-free snack items, growing R&D investments in the field, rising prevalence of other chronic disorders, along with surging cases of adolescent diabetes are creating an upsurge for market growth.
On the flipsides, anti-diabetic food products are costly in nature and hence cannot be afforded by all sections of society. This factor in hindering the remuneration scope of the global diabetic food market across the globe.
Competitive Hierarchy
The prominent players influencing the competitive terrain of this global diabetic food market are Nestlé, Fifty 50 Foods, Inc., Mars Inc., Unilever, Conagra Brands, Inc., The Kellogg Company, Tyson Foods, Hain Celestial Group, Sushma Gram Udyog, and The Hershey Company.
These companies are extending their global reach by making various organic and inorganic business growth strategies. They are focused on enhancing their remuneration scope by engaging in product launches, mergers & acquisitions, R&D investments, and collaborations, among others.
Segmental Outlook
By Application
By Distribution Channel
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Region-wise Insights
Which region is anticipated to lead the global diabetic food market?
North America is poised to dominate the market owing to the growing prevalence of diabetes, the increase in the geriatric populace, and the presence of key players.
Also, increasing health cognizance of the masses, rising healthcare expenditure, and strong income levels are further aiding industry expansion in the region.
What is the position acquired by Asia Pacific in this business vertical?
Asia Pacific is currently regarded as the fastest-growing region in the market. This is attributable to the changing lifestyle patterns of the masses, rapidly evolving healthcare infrastructure, and rising R&D activities in diabetes research.
Besides, growing awareness about diabetes prevention along with increasing cases of adolescent diabetics are adding traction to the industry development in APAC.
Category-wise Outlook
Which is the leading application segment in the global diabetic food market?
The snacks segment has been dominating the market due to the growing popularity of diet snacks powered by the rising prevalence of diabetes across the globe.
Define the distribution channel outlook of this industry?
The online sales segment is projected to account for a high revenue share ascribing to the rapid internet proliferation and convenient delivery options provide by online shopping portals.
Market growth comparison pertaining to the historical years and forecast timeline of 2022-2028
The industry vertical has been generating significant returns due to the presence of various growth-inducing factors.
Lifestyle habits of the masses have changed drastically. With rapid industrialization and urbanization, people have been drawn toward a more sedentary lifestyle and are adopting unhealthy dietary trends. There has been a steep rise in alcohol consumption across the globe. These factors are majorly contributing to the increasing number of diabetic patients worldwide which in turn is elevating the demand for specialized food products known to control sugar levels in the affected individuals.
The onset of the COVID-19 pandemic has opened growth avenues for the industry. It is medically evident that people with chronic ailments like diabetes were at risk of severe coronavirus infection. This pushed people to take extra care of their sugar levels. Individuals with and without diabetes started consuming food items that are low on calories and carbohydrates The popularity of diet snacks and beverages also soared across the globe.
The growing pervasiveness of disorders such as obesity, COPD, and hypertension, among others are also escalating the demand for diabetic food products. These diseases are known to trigger blood sugar levels in the human body which in turn results in diabetes.
On Special Requirement Diabetic Food Market Report is also available for below region:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Major Developments
In December 2021, Danone India announced to have launched its Protinex Diabetes Care range which is developed with the aim to meet the dietary requirements of diabetic patients in the country.
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