Diabetic Food Market

Diabetic Food Market Size and Forecast (2023-2028):

The Global Diabetic Food Market size is expected to grow at a CAGR of 6.1% during the forecast period 2023-2028 to reach USD 18.23 billion by 2028 from USD 12.68 billion in 2022.

Market Overview:

Diabetic food products are significantly made for individuals with diabetes by offering products that help to manage blood sugar or glucose levels. Diabetic food commonly includes fruits, vegetables, grains, lean proteins, and no or low-fat dairy products. They also include sugar substitutes and low-carb options. These diabetic food products mainly aim to regulate glucose levels and promote healthier diets for diabetic people. Diabetic food products are available in various food forms like snacks, desserts, meals, confectionery, beverages, dairy, and ready-to-eat food products. Hence, This prominence of nutrients in diabetic food products makes it a balanced diet option among diabetic and health-conscious people.

Recent Developments in Global Diabetic Food Industry:

• In February 2022, for individuals with diabetes, Kate Farms introduced a plant-based, organic Nutrition Shake with glucose support 1.2.
• In December 2021, New GLUCODOWN "enhanced water" drink mixes that were introduced by Glucose Health, Inc are currently available for sale on Amazon in the North American market.

REPORT COVERAGE:

Drivers:

The growing number of people with diabetes is one of the major drivers of the global diabetic food market growth. Because diabetes, a medical condition where blood sugar levels can become problematic, is increasing globally. Also, there is an increase in the number of individuals who focus greatly on health and well-being. Collectively, these people are seeking balanced and healthy diets which can help them to control their blood sugar levels and promote their overall health. Diabetic food products are best fit for this demand as they contain various fruits, veggies, grains, and much more, mainly including sweet potatoes, salmon, oatmeal, nuts, yogurt, quinoa, avocado, berries, etc., which is increasing demand for them to support continued growth among rising diabetic people.

Also, the growing awareness about health and well-being among consumers is further driving the demand for diabetic food products. Other than diabetic people, there is an increase in the number of individuals with health consciousness. These kinds of people are looking for healthy and nutritious food alternatives. Also, they want to have balanced diets with no or low consumption of carbs and fats. These requirements are attracting more people towards diabetic food as they are with no or low sugar or with sugar substitutes and lots of added nutrients. This factor is inducing more demand for global diabetic foods and hence influencing the shares of the market.

Further, the increasing marketing and advertisements of diabetic food products are leading to an increase in their consumption among diabetic and health-conscious people. Many people in rural areas and some people in urban areas are not aware of these products completely, so to increase awareness and knowledge among them, the manufacturers of diabetic foods are marketing their products through advertisement campaigns. This is helping them to attract a large consumer base by offering them health benefits. Thus, as more and more people get to know about diabetic foods and their advantages, the global diabetic food market demand is boosted.

Restraints:

One of the considerable restraints on the market demand is the high cost of diabetic foods. These food products are made up of various special ingredients, including sugar substitutes, fruits, nuts, grains, yogurt, and much more, which makes them more costly. The ones with diabetes or those who are health conscious want to buy and consume these foods to promote overall well-being, but the high prices of diabetic food products do not make them affordable for everyone. This creates challenges for the consumption of diabetic food among people and contributes to limiting the market demand.

The lack of awareness among people is majorly restraining the global diabetic food market growth. Some people are not aware of diabetic-friendly food products and their advantages over consumption. Some people do not even know that such products exist, or they may not understand the mechanism of these food products, like how they are beneficial for their health and help diabetic people to maintain their blood sugar levels. Therefore this lack of knowledge and awareness among these people is restricting the expansion of the market globally.

Opportunities:

In the coming years, it is believed that technological advancements, such as genetic and functional diabetic food, fast digital transformation, and a growing e-commerce sector, are going to create several growth opportunities for the global diabetic food market. Significant advancements are taking place in the field of diabetic food as technology is developing. Special diets that complement genetic makeup and the body's functions are being developed, which may improve the management of diabetes. Recently, everything is becoming digital, making it incredibly simple to purchase goods online, including these diabetic food products. On the Internet, consumers can purchase this food without going out of their houses. Better diabetic foods and internet shopping together are like a huge door opening for the market. Therefore, there is a lot of potential for diabetic foods to improve and become more widely available in the future and boost the market demand globally.

Another significant opportunity for the diabetic food market growth is presented by the growing aging population. As people get older, there is a high risk of getting diseases rapidly in them. Thus as there is an increase in the aging population, there are higher chances of having diabetes in this group. For better health and bodily functions, they require the consumption of a balanced diet. This can cause an increase in the demand for diabetic food products as they come with special ingredients which help to boost the overall health of an individual and maintain blood sugar levels in diabetic people. Therefore, these older people might require more diabetic-friendly food and thus influencing the market share.

COVID-19 Impact on Global Diabetic Food Market:

COVID-19 had significant impacts on the global diabetic foods market. Production and distribution of diabetic food were hampered by supply chain challenges and lockdowns, which reduced the availability of these products in the market. Other than these covid restrictions, the less availability of special ingredients like fruits, veggies, grains, nuts, etc., to make diabetic food affected the production of these food products. This led to a decline in the supply of final diabetic food to end users, which resulted in decreased market share. Also, the price sensitivity resulting from economic uncertainty affected purchasing decisions of the consumers. Overall, the market got affected negatively by the pandemic.

Diabetic Food Market Segmentation Analysis:

By Product Type:

• Confectionery
• Bakery Products
• Dairy Products
• Dietary Beverages
• Ice Creams
• Jellies
• Others

By product type, the dietary beverages segment is ruling the global diabetic food market share during the anticipated period. Because these dietary beverages include several types of beverages that are made specifically for diabetic people, these may involve low-calorie or sugar-free beverages, such as juices, teas, and other drink alternatives that are suitable for a diabetic diet. This is influencing the demand for this segment. However, the dairy products segment is expected to grow at the fastest growth during the projected period as this segment includes numerous dairy-based foods with sugar-free or less or no-calorie content. This includes low-fat or sugar-free yogurt, cheese, and milk alternatives which help to manage blood glucose levels and thus boost the demand.

By End Consumers:

• Children
• Adults

By end consumers, the adult segment is dominating the market share during the anticipated period. Because among the adult population, there is an increase in the prevalence of diabetes. So, to handle the blood sugar levels and to promote overall health, people are demanding more diabetic food products. This attribute is contributing to fueling the market demand for adults. At the same time, the children segment is expected to grow at a significant rate in the upcoming years. Because recently, diabetes is also occurred in children, and diabetic foods consider the nutritional needs of kids and provide tasty alternatives that help to manage blood sugar levels. There is an increase in the demand for diabetic foods in this segment.

By Distribution Channel:

• Supermarkets & Hypermarkets
• Drug Stores/Pharmacies
• Grocery Stores
• Online

By distribution channel, the supermarkets & hypermarkets segment is ruling the market during the projected period. Because diabetic food products can be easily found on the displays or racks of supermarkets and hypermarkets during regular shopping visits, which attracts people towards them, this can lead to a boost in the sales of diabetic foods in this segment. At the same time, the online segment is expected to grow at a healthy CAGR during the forecasted period. Diabetic food products are accessible and convenient for consumers to explore from the comfort of their homes and purchase, with delivery right to their doorstep. This attribute influences the shares of the market.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

By region, North America is anticipated to dominate the market share, whereas the Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period. Dietary trends, healthcare awareness, and the prevalence of diabetes all have an impact on the market for diabetic foods in North America. However, the factors including changing lifestyles, an increase in diabetes rate, and increasing consumer desire for more nutritious foods each influence the diabetic food market demand in the Asia Pacific region.

Key Players in the Market:

Major Key Players in the Global Diabetic Food Market are

• Fifty 50 Foods, Inc
• Mars Inc
• Sushma Gram Udyog
• Nutrition Plus Health and Wellness Pvt. Ltd.
• Nestle S.A.
• Unilever Plc
• PepsiCo Inc.
• Cadbury Plc
• The Coca-Cola Company
• Kellogg Company