NEWARK, Del, July 02, 2024 (GLOBE NEWSWIRE) -- The diabetic food market value is expected to rise from USD 12,000 million in 2024 to USD 17,891 million by 2034. Global demand is forecast to surge at a CAGR of 8.3% over the next decade.
Multiple factors are expected to stimulate growth of the diabetic food market during the forecast period. These include increasing prevalence of diabetes, growing health awareness, and shifting dietary preferences.
In matters of health, an unhealthy diet can pose a risk of morbidity. To manage extreme health conditions like type 2 diabetes, consumers are being advised to keep their diet in check. Since this health condition is associated with food, patients with diabetes are heavily filling their kitchen inventories with specialized diabetic food.
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In the diabetic food industry, grocers and fresh food producers compete not only on prices but also on food tastes. Players are thus investing in research and development to formulate diabetic foods that taste good and look pleasing.
Governments are also doing their part by imposing taxes on high-sugar products to boost the attractiveness of healthier substitutes from a cost perspective. In addition, the wave of natural and organic diabetic foods is making an impact on the diabetic food market.
Players are seen developing plant-based diets to manage diabetes. Researchers are also developing future strategies to make diabetes management simpler and sustainable. Leading companies are also focusing on ethical and sustainable production practices to align themselves with the latest market trends.
Key Takeaways from the Diabetic Food Market Report:
- The diabetic food industry is projected to total USD 17,891 million by 2034.
- By product type, the confectionery segment is projected to acquire a 28.4% share in 2024.
- Based on distribution channel, the supermarkets and hypermarkets segment is anticipated to obtain a value share of 32% in 2024.
- The United States is projected to account for a value share of 23.4% in 2024.
- China is poised to register a CAGR of 6.2% through 2034.
“Growing prevalence of diabetes and its high mortality rate are expected to play key roles in propelling demand for diabetic foods globally during the assessment period.” Says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.)
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Who is Winning?
Key players are innovating and expanding their diabetic-friendly food offerings. New textures, flavors, and formulations are being explored to serve the evolving tastes and dietary requirements of diabetic patients. Various manufacturers have also started using alternative sweeteners, high-fiber content, and low-glycemic ingredients to improve products' appeal and nutritious content.
Industry participants are engaging in partnerships with other companies, research institutions, and healthcare providers to create new products. Partnerships between these entities also aim at developing educational campaigns about diabetes and expanding into new markets.
Players are further employing effective branding and marketing strategies to pull the attention of diabetic patients. Manufacturers are differentiating their products via packaging designs, branding initiatives, and targeted messaging that resonate with the target audience.
Latest Industry Developments
- In January 2024, Rebar launched diabetic-friendly beverages in collaboration with DMC Medical Center. The new beverage series is based on fruit sugar and has over 25% reduced carbs.
In January 2024, Shwapno, a renowned chain of retail shops in Bangladesh, inaugurated a service called ‘Diabetic Corner’ to offer more facilities for consumers and create mass awareness about diabetes.
9 Key Company of the Diabetic Food Brands:
- Unilever
- Nestlé
- PepsiCo
- The Coca-Cola Company
- Kellogg Co
- Mars Incorporated
- FIFTY/50 MANAGEMENT GROUP
- Chapman's
- Others
Key Segments of Diabetic Food Market Report:
By Product Type:
Based on product type, the sector is divided into dietary beverages, dairy products, baked products, ice cream and jellies, and confectionery, among others.
By Distribution Channel:
Various distribution channels for diabetic food include supermarkets and hypermarkets, specialty stores, grocery stores, online stores, and others.
By Region:
The diabetic food is sold across North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
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Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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