Market Overview:
The diabetes nutrition market includes food products and supplements specific to diabetes care. Diabetes nutrition helps manage blood sugar levels and address nutritional requirements for people with diabetes. It includes low glycemic index foods, meal replacement products, and dietary supplements that support diabetes management. These products provide balanced nutrition and help control appetite.
Market key trends:
The rising prevalence of diabetes worldwide is contributing significantly to market growth. According to WHO estimates, around 422 million people had diabetes in 2014, which is expected to rise to 642 million by 2040. This increasing patient pool is generating high demand for effective diabetes management solutions like diabetes-specific foods and supplements. Furthermore, growing awareness about the importance of nutrition in diabetes care is encouraging adoption of specialized diabetes nutrition products. People with diabetes are increasingly recognizing nutrition as a key aspect of overall diabetes management. This is supporting the uptake of fortified foods, snacks, and drinks targeted at diabetes care. Innovations in low glycemic meal replacement shakes, snacks, and bars are also fueling the diabetes nutrition market expansion.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the industry has high requirement of resources and expertise. Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes. Bargaining power of suppliers: Suppliers have moderate power as raw materials are easily available. Threat of new substitutes: Threat of new substitutes is high as alternative foods and beverages are emerging. Competitive rivalry: Competition is high among existing players.
SWOT Analysis
Strength: Wide product portfolio and strong brand image. Weakness: High R&D cost and stringent regulations. Opportunity: Rising diabetic population and increasing health awareness. Threats: Entry of local players and threat from alternative therapies.
Key Takeaways
The Global Diabetes Nutrition Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing prevalence of diabetes globally. North America dominated the market in 2023, owing to the presence of major players and increasing healthcare spending in the US and Canada.
Regional analysis
The Asia Pacific region is projected to be the fastest-growing regional market during the forecast period due to rising disposable income, growing awareness about diabetes and its management. China, India, and Japan are the major contributors to the growth of diabetes nutrition market in Asia Pacific.
Key players
Key players operating in the diabetes nutrition market are Nestle, Fresenius Kabi AG, Abbott, Danone S.A., Eli Lilly and Company, Diabetain, Essens Wellness Technologies Private Limited, Medlife, BestSource Nutrition Pvt. Ltd., Inlife Pharma Pvt. Ltd., B Jain Pharmaceuticals Private Limited, PT Kalbe Farma Tbk, Natxtra, Unique Biotech Limited (UBL), Newtrition Plus Health & Wellness Pvt. Ltd., Venus Remedies Limited, Zemaica Healthcare.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it