by The global Diabetes Nutrition Market is estimated to be valued at US$ 5719.26 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The diabetes nutrition market consists of various nutritional products, medical foods, dietary supplements, and nutraceutical designed to facilitate better nutrition management and treatment of diabetes. These products include snacks suitable for diabetes, protein bars, supplements and medications that help in lowering blood sugar levels. Diabetes nutrition helps manage diabetes and mitigate health risks by offering balanced macronutrients and portion control. The increasing prevalence of diabetes globally due to rising obesity has driven the need for specialized diabetes nutrition products that can aid in glycemic control and overall health improvement.
Market key trends:
Rising awareness regarding the role of nutrition in diabetes management is a key trend driving the diabetes nutrition market growth. According to data by International Diabetes Federation (IDF), over 600 million people are expected to have diabetes by 2040 globally. This has boosted nutritional education programs focused on diabetes self-management. Furthermore, growth in online sales of diabetes-specific food items and dietary supplements is also fueling market revenues. Manufacturers are developing innovative products tailored for diabetics such as low-sugar and low-carb snacks, fortified staples and beverages. Expanding population with prediabetes who seek to prevent the onset of full diabetes with nutrition intervention also presents lucrative opportunities.
Porter’s Analysis
Threat of new entrants: The established key players in the market and stringent regulations pose high entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute products and options.
Bargaining power of suppliers: Few global players control the supply which gives them higher bargaining power over prices.
Threat of new substitutes: New dietary management approaches developed require large investments in R&D that limits threat from substitutes.
Competitive rivalry: The market is highly competitive with Nestle, Fresenius Kabi AG, and Abbott being the major players.
Key Takeaways
The Global Diabetes Nutrition Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing awareness regarding diabetes management and demand for specialized nutritional products.
Regional analysis: North America dominates the global diabetes nutrition market due to increasing prevalence of diabetes and growing health consciousness. Asia Pacific is expected to witness fastest growth in the forecast period owing to rising elderly population, growing economy and increasing healthcare expenditure.
Key players operating in the Diabetes Nutrition market are Nestle, Fresenius Kabi AG, Abbott, Danone S.A., Eli Lilly and Company, Diabetain, Essens Wellness Technologies Private Limited, Medlife, BestSource Nutrition Pvt. Ltd., Inlife Pharma Pvt. Ltd., B Jain Pharmaceuticals Private Limited, PT Kalbe Farma Tbk, Natxtra, Unique Biotech Limited (UBL), Newtrition Plus Health & Wellness Pvt. Ltd., Venus Remedies Limited, Zemaica Healthcare.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
