Market Overview:
Diabetic foods are specially formulated or processed foods intended for people with diabetes. These foods have minimal to zero impact on blood sugar levels and help maintain healthy blood glucose levels.
Market key trends:
One of the major trends in the diabetic food market has been the rising consumer preference for organic, gluten-free, non-GMO and plant-based diabetic foods. Manufacturers are offering a wide range of organic and plant-based diabetic food products made from soy, nuts, vegetables which are gaining popularity among health conscious consumers. Furthermore, increasing adoption of healthy lifestyle and dietary habits among diabetic patients is also fueling the demand for specialized low glycemic and keto-friendly diabetic food items in the market.
SWOT Analysis
Strength: The diabetic food market has strong growth potential owing to the rising global prevalence of diabetes. There is an increasing awareness among consumers about the health benefits of consuming diabetic-friendly food products.
Weakness: The availability of substitutes such as generic medication can pose a threat to the sales of specialized diabetic foods. High prices of certain diabetic food items restrict their adoption in cost-sensitive markets.
Opportunity: Product innovation and new product launches catering to diabetics’ changing needs offer significant growth opportunities. The growth of e-commerce is also enhancing the accessibility of diabetic foods.
Threats: Stringent regulatory frameworks and certification requirements associated with diabetic foods increases the cost of compliance for companies. Volatility in the prices of raw materials used in diabetic food production can threaten profit margins.
Key Takeaways
The Global Diabetic Food Market Size is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing prevalence of diabetes worldwide. As per WHO data, diabetes affected about 422 million people globally in 2014, which is expected to rise to around 629 million by 2045.
Regional analysis: North America dominates the global diabetic food market and is expected to maintain its lead throughout the forecast period. This can be attributed to growing diabetic population, high healthcare expenditure, and presence of major players in the region. Asia Pacific is anticipated to exhibit the fastest growth during the analysis period owing to rising diabetes incidence, growing health consciousness, and increasing disposable incomes in developing countries.
Key players operating in the diabetic food market are Nestle S.A., Unilever Plc, PepsiCo Inc., Cadbury Plc, The Coca-Cola Company, Kellogg, Company, Fifty 50 Foods, Inc., Mars Inc., Newtrition Plus Health and Wellness Pvt. Ltd, and Herboveda India. Major players are focusing on product launches catering to diabetics-specific nutritional needs to gain a competitive edge in the market.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.