Global Diabetic Food Market Is Estimated To Witness High Growth Owing To Increasing Diabetic Population & Growing Demand For Low-Calorie Food Products

The global Diabetic Food Market is estimated to be valued at US$ 12.4 billion in 2022 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview
The Diabetic Food Market refers to food and beverages specifically designed to meet the nutritional needs of individuals with diabetes. These products are low in carbohydrates, sugar-free, and have a low glycemic index. The market offers a wide range of diabetic food products, including food and beverages, snacks, desserts, and spreads. These products are formulated using artificial sweeteners and other ingredients that do not impact blood sugar levels.

B) Market Dynamics
The market for diabetic food is driven by two major factors: the increasing diabetic population and the growing demand for low-calorie food products.

1. Increasing Diabetic Population: The rising prevalence of diabetes worldwide is a key driver for the growth of the diabetic food market. According to the International Diabetes Federation, the global diabetic population is expected to reach 700 million by 2045. As a result, there is a growing demand for food and beverages that help manage blood sugar levels and meet the nutritional requirements of diabetic individuals.

2. Growing Demand for Low-Calorie Food Products: With the increasing focus on health and wellness, there is a rising demand for low-calorie food products among consumers. Diabetic food products, which are usually low in calories, offer a suitable option for individuals looking to maintain a healthy diet. The demand for diabetic food has also been driven by the rising prevalence of obesity and lifestyle diseases.

C) Segment Analysis
The diabetic food market can be segmented based on product type, distribution channel, and region. Among the product types, the beverages segment dominates the market, owing to the high demand for sugar-free and low-calorie drinks among diabetic individuals. The snacks segment is also witnessing significant growth, driven by the availability of a wide range of diabetic-friendly snacks in the market.

D) PEST Analysis
– Political: The government regulations and policies related to food safety and labeling impact the manufacturing and marketing practices of diabetic food products.
– Economic: The rising disposable incomes of individuals, especially in developing countries, have led to an increased expenditure on healthy and specialized food products.
– Social: The growing awareness about health and wellness, coupled with the rising prevalence of diabetes, has influenced consumer preferences towards diabetic food products.
– Technological: Advances in food processing techniques and the use of innovative ingredients have enabled the development of diabetic food products with improved taste and texture.

E) Key Takeaways
– The global diabetic food market is expected to witness high growth, exhibiting a CAGR of 5.7% over the forecast period, due to the increasing diabetic population and the growing demand for low-calorie food products that help manage blood sugar levels.
– North America dominates the market for diabetic food, driven by the high prevalence of diabetes and the presence of key players in the region.
– Key players operating in the global diabetic food market include 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.

The global diabetic food market is poised for significant growth in the coming years due to the increasing diabetic population and the growing demand for low-calorie food products. With advancements in technology and a shift towards healthier eating habits, the market is expected to witness continuous innovation and product development to cater to the specific needs of diabetic individuals.