May 22, 2024
Diabetic Food Market

The Diabetic Food Market Set to Flourish at owing to Rising Prevalence of Diabetes

The diabetic food market has seen significant growth in recent years due to increased cases of diabetes globally. Diabetic foods are specifically designed for diabetes patients to control their blood sugar levels. These foods have low glycemic index and sugar content. Some popular diabetic food products include biscuits, bread, pasta, breakfast cereals and snacks. They provide an alternative for diabetes patients to maintain a balanced diet and lifestyle. The global diabetic food industry is working towards developing more innovative product offerings tailored to various diabetes management needs and tastes.

The Global diabetic food market is estimated to be valued at US$ 15.11 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Diabetic Food Market Growth 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. The key players are focusing on new product launches, partnerships and expansion strategies to gain a competitive edge in the market.

The global diabetic food market provides numerous opportunities for emerging and existing players. Factors such as rising health consciousness, growing awareness about diabetes management and increasing spending on healthy foods will support the growth of this industry. International food chains and retailers are expanding their diabetic food product lines to cater to the global diabetes patient pool.

The rising prevalence of Diabetic Food Market across the world is one of the major drivers of the diabetic food market growth. According to the International Diabetes Federation, over 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. The increasing geriatric population who are more prone to diabetes will also boost market revenues. Other market drivers include growing obesity rates, sedentary lifestyles, urbanization and changing dietary patterns.

PEST Analysis

Political: Regulations promoting healthy eating and lifestyle along with tax benefits for manufacturing diabetic foods will support the market growth. However, stringent food safety standards increase compliance cost.

Economic: Rising healthcare spending on diabetes treatment along with growing disposable incomes drives the demand for specialized diabetic food products. High R&D investment required to develop new formulations.

Social: Increasing health awareness and focus on preventive healthcare stimulates the consumption of tailored food products for diabetes management. Rapid urbanization and busy lifestyles fuel the demand for convenient packaged substitutes.

Technological: Advancements in food processing and formulation techniques aid manufacturers in developing diverse product ranges catering to specific dietary requirements. Growing popularity of e-commerce boosts the availability of customized options.

The market is concentrated predominantly in developed regions including North America and Europe owing to high healthcare expenditures, easy availability and affordability of specialized foods. The growing diabetes patient pool, increasing health consciousness and healthcare reforms drive significant demand in these areas. Asia Pacific is the fastest growing region for diabetic food market led by Chinese and Indian markets due to rapidly aging population, adoption of western lifestyle, economic growth and rising diabetes prevalence rates across nations. With growing health awareness and affordability, other emerging regions in Asia, Latin America and Middle East & Africa will also experience substantial expansion opportunities over the forecast period.

The value share of diabetic food market is concentrated highly in North America and Western Europe regions accounting for over 60% valuation owing to widespread penetration of disease awareness initiatives, established healthcare infrastructure and high consumer affordability in countries like U.S., U.K., Germany and France. However, Asian markets led by India and China will experience fastest growth during the forecast years thanks to continually rising geriatric prevalence rate, favorable policy reforms and massive population base undergoing epidemiological transition. With improving standards of living and healthcare accessibility, other emerging economies of Latin America, Eastern Europe, Middle East and Africa will present considerable prospects over the next decade.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it