Diabetic foods are formulated specifically for people suffering from diabetes mellitus. These foods are designed to control blood glucose levels and support weight management for diabetics. The most common types of diabetic foods include low glycemic load breads, pastas, crackers and cereals. There has also been a rise in low-sugar fruits, vegetables and snacks targeted towards diabetics. The global diabetic food market is experiencing substantial growth due to the increasing diabetic population worldwide and growing health-consciousness.
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:
The diabetic food market is witnessing high growth owing to the growing prevalence of diabetes. As per the International Diabetes Federation (IDF), around 537 million adults were living with diabetes in 2021 across the globe and the number is expected to rise to 643 million by 2030 and 783 million by 2045. The key factor fueling the rise in diabetes cases is the sedentary lifestyle and unhealthy dietary patterns adopted by many. This has further augmented the demand for specially formulated diabetic foods that can help control blood sugar levels and support weight management. Moreover, growing health awareness among consumers regarding the importance of managing diabetes through diet is also contributing to the market growth. Manufacturers are launching diverse product portfolio with various healthy ingredients to cater to the demand. However, the high prices of specialized diabetic foods compared to regular foods may hamper the market growth.
SWOT Analysis
Strength:
Diabetic food market offers food products specially made for diabetics. These products help manage blood sugar levels and are an easy option for diabetics looking for healthy snack and meal alternatives. The rising health consciousness among people has increased the demand for these foods. Food companies offer a wide variety of low glycemic index foods like cereals, breads and snacks made using whole grains and fibers.
Weakness:
Diabetic foods often have a higher price than regular foods due to additional processing and specialized ingredients required. This limits their adoption among cost-conscious consumers. Some products may also have an artificial or artificial taste which discourages regular consumption.
Opportunity:
Rising prevalence of diabetes globally due to sedentary lifestyles and obesity has boosted the diabetic food market. Developing countries with large diabetic populations present an opportunity for companies. Product innovation to cater to regional tastes can help companies expand in new emerging markets. Technology advancements are helping lower the glycemic impact of foods, increasing product options.
Threats:
Changes in dietary guidelines or recommendations regarding low glycemic foods may impact demand. Introduction of generic low-priced versions by local brands poses competition. Fluctuations in raw material prices of ingredients like whole grains can increase company costs. Non-compliance to labeling regulations can damage brand reputation.
Key Takeaways
The Global Diabetic Food Market Demand is expected to witness high growth over the forecast period driven by the rising diabetic patient base worldwide.
Regional analysis:
Asia Pacific is poised to be the fastest growing regional market for diabetic foods led by countries like India, China and Japan. The incidence of diabetes is growing rapidly in Asia Pacific attributed to changing lifestyles and increasing obesity prevalence. This has boosted demand for healthy packaged food options for diabetes management. Japan dominates the Asia Pacific diabetic food market currently while India is likely to offer lucrative growth opportunities over the forecast period supported by its large diabetes population base.
Key players operating in the diabetic food market are Waifair LLC, Westminster Teak Inc., Polyteak, Bajanusa Furniture, Frontgate, Gloster Furniture GMBH, Nusantara Teak, Teak Heirlooms, Raft Furniture, Wihardja, Artisera, Teak & Mahogany, Dania Furniture, Danish Teak Classics, Casateak Teak wood furniture, Teak Vogue Sdn Bhd, CV.Jepara Crafter Furniture, Wisanka Indonesia, Kalingga Jati Furniture, Republic Furniture Group.
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