Market Overview:
Diabetic food products are specially formulated to control blood glucose levels in patients suffering from diabetes. These include sugar-free and low-glycemic index snacks which provide sufficient nutrition without causing a spike in blood sugar levels. Such food items include sugar-free bread, pasta, dairy products, frozen desserts as well as low-calorie natural sweeteners. They aim to simplify meal planning and diabetes management for consumers.
Market Dynamics:
Growing health awareness among consumers is a major driver for the diabetic food market. People are increasingly opting for sugar substitutes and healthier alternatives in order to manage their weight and avoid health issues like diabetes. According to estimates, type 2 diabetes accounts for over 90% of all diabetes cases globally. As the number of diabetes patients grows worldwide, the demand for convenient and specialized food options is expected to surge significantly over the forecast period.
Additionally, aggressive promotional activities by manufacturers are highlighting the benefits of diabetic-friendly snacks and meals. Several companies offer a diverse portfolio of low-glycemic snacks and drinks to attract health-conscious customers. Improved distribution networks are also ensuring wider availability of such products across modern retail formats as well as online channels.
Segment Analysis
The diabetic food market is dominated by the bakery and confectionery sub-segment. This segment accounts for over 30% of the market share owing to its wide availability and appeal among diabetics. The bakery sub-segment includes diabetic bread, cakes, cookies etc. which have lower sugar content and are prepared using sugar substitutes like sucralose instead of regular sugar. This allows diabetics to enjoy these food items in moderation without high blood sugar spikes.
PEST Analysis
Political: International regulations and labeling laws pertaining to ingredient disclosure and nutritional information help consumers make informed choices about diabetic foods.
Economic: Rising healthcare costs of treating diabetes-related complications is driving demand for specially formulated diabetic foods for effective management of blood sugar levels.
Social: Growing health consciousness among consumers and increasing awareness about lifestyle-related diseases like diabetes is propelling the sales of low-sugar and healthy substitutes.
Technological: Advancements in extracting natural sweeteners from plant sources along with improved formulation techniques help manufacturers develop diverse product ranges with natural flavors and textures for diabetics.
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 health awareness and growing diabetic population globally. The market size is estimated to reach US$ 13.11 Bn in 2023.
North America dominates the diabetic food market with over 30% share owing to high awareness levels and easy availability of low-sugar foods. However, Asia Pacific is expected to emerge as the fastest growing regional market due to rising obesity and sedentary lifestyle-related ailments.
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. These companies offer a wide range of low-sugar alternatives of bakery, confectionery and beverages targeting the diabetic population.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
