by Diabetic foods are specially formulated food items and drinks for people living with diabetes. Products range from snacks and bread to juices and meal replacement shakes. With rising diabetes prevalence, adoption of healthy diets and active lifestyle is surging. This has boosted demand for low-calorie, low-carb and sugar-free substitutes. Diabetic bakery and confectionery items like biscuits, cakes, cookies allow people to enjoy sweet treats in moderation. Ready-to-eat meals cater to the on-the-go needs of time-starved consumers.
The global Diabetic Food Market is estimated to be valued at US$ 13.11 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing health conscious population, one of the key drivers highlighted in heading, has spurred demand for specialty foods tailored for medical conditions like diabetes. People are increasingly adopting low-glycemic index diets and making lifestyle changes to manage diabetes. This expanding diabetes patient pool and their shifting nutrition needs are fueling market growth. Another driver is rising product innovation. Manufacturers are developing new snacks, meals and beverages with natural ingredients and in multiple flavors. They are also reducing sugar, fat and carb content through formulation tweaks. This has enhanced product offerings and appeal to address varied dietary preferences of customers.
Segment Analysis
The global diabetic food market is segmented into bakery products, beverages, dairy products, ice creams and jellies, snacks, and others. Among these, the bakery products segment accounts for the largest market share of over 35% as of 2023. This segment will continue to dominate during the forecast period due to the rising demand for diabetic bread, cookies and biscuits among consumers suffering from diabetes. Bakery foods help in managing blood sugar levels with low calories and low carbohydrate content.
PEST Analysis
Political: The governments across several countries are supporting awareness drives about diabetes through various campaigns and programs. They are also working towards creating an inclusive healthcare system for improved management of diabetes.
Economic: The global rise in diabetes prevalence has boosted the demand for specialized diabetic foods. The increasing healthcare spending on diabetes treatment and growing per capita income are fueling the market growth.
Social: Rising health consciousness among consumers and growing preference for healthy convenience foods are driving the consumption of low sugar and diet-controlled foods.
Technological: Companies are investing in new product innovations such as low calorie and sugar-free recipes. Advancements in food processing are helping manufacturers develop versatile diabetic food offerings.
Key Takeaways
The Global Diabetic Food Market Growth is expected to witness high at a CAGR of 6.2% during the forecast period of 2023 to 2030.
Regional analysis comprises- North America dominates the global market with over 30% share owing to the increasing incidence of diabetes and robust healthcare infrastructure in the region. The Asia Pacific market is anticipated to showcase lucrative opportunities for vendors with speedy economic growth, rapidly expanding middle-class population and rising urbanization.
Key players operating in the diabetic food market are Waifair LLC, Westmont Foods, Speciality European Pharma, Valensa International, Danone, Nestle, Mondelez International, Kelloggs, Unilever and Kraft Heinz. Key players are focusing on the developing innovative product portfolios to meet new health demands using technologies like low-calorie sweeteners and diabetic-friendly recipes. They are also exploring opportunities in emerging Asian markets through efficient distribution networks.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
