PUBLISHER: SkyQuest | PRODUCT CODE: 1427216
PUBLISHER: SkyQuest | PRODUCT CODE: 1427216
Global Diabetic Food Market size was valued at USD 13 billion in 2022 and is poised to grow from USD 13.77 billion in 2023 to USD 21.78 billion by 2031, growing at a CAGR of 5.9% during the forecast period (2024-2031).
The increasing prevalence of diabetes has led to a heightened demand for diabetic-friendly meals, with approximately 37.3 million Americans diagnosed with the condition in 2021, as reported by the Centers for Disease Control and Prevention. This surge in demand is expected to drive market growth, particularly in light of the impact of the COVID-19 pandemic on the food and beverage industry, as highlighted by the World Health Organization's recommendation for individuals, including those with chronic conditions, to stay home. The pandemic has also spurred a greater focus on health, prompting individuals to reduce sugar intake and seek out sugar-free or reduced-sugar products, given the strong link between sugar consumption and health issues such as diabetes and obesity. Consequently, stringent regulations govern the diabetic food sector, particularly in medical facilities where adherence to FDA rules is crucial. Unhealthy lifestyles, characterized by factors such as sedentary behavior and poor dietary habits, are further expected to drive industry growth. This heightened awareness of the long-term effects of diabetes has prompted public awareness campaigns and the introduction of new products by manufacturers, such as dairy items with low fat content and low-calorie sweets, aimed at meeting the evolving needs of consumers. Moreover, corporate mergers and acquisitions, like the acquisition of Novique Health by BeatO in 2021, are anticipated to offer significant growth opportunities by catering to a diverse range of diabetic management solutions and dietary options.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Diabetic Food Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Diabetic Food Market Segmental Analysis
The global diabetic food market is segmented on the basis of product, distribution channel, and region. Based on product the market is segmented into confectionery, snacks, bakery products, dairy products, and others. Based on distribution channel, the market is segmented into supermarkets & hypermarkets, specialty stores, online, and others. Based on region the global Diabetic Food Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Drivers of the Global Diabetic Food Market
The increasing global incidence of diabetes serves as a major catalyst for the expansion of the diabetic food sector, fueled by a growing population of diabetic individuals necessitating specialized dietary solutions. With the escalating number of diabetes cases, there arises a heightened requirement for food items tailored to meet the unique nutritional needs of diabetic consumers. These specialized products are crafted to assist individuals in regulating their blood glucose levels while promoting a balanced and healthful diet.
Restraints in the Global Diabetic Food Market
The production of diabetic-friendly food items often incurs significant expenses attributed to the acquisition of specialized ingredients, extensive research and development processes, and adherence to regulatory standards. Consequently, the elevated production costs render diabetic food options pricier than their conventional counterparts, thereby constraining accessibility for certain consumer demographics.
Market Trends of the Global Diabetic Food Market
The burgeoning worldwide incidence of diabetes stands as a prominent market force propelling the request for diabetic-friendly food items. With the diabetic population steadily rising, there emerges a heightened necessity for dietary choices tailored to their unique needs. The escalating consciousness surrounding diabetes care and the crucial role of a balanced diet further fuel the market's growth trajectory.