Diabetic Food Categories Reap an Advantage of Increasing Consumer Awareness Regarding the Disease
Global diabetic food market is poised to witness healthy growth in the near future. Diabetes affects over 530 million adults worldwide, as of 2021 (The IDF Diabetes Atlas Tenth edition). More than 30 million people are living with diabetes in the US alone. The disease remains one of the leading death causes. By the end of 2045, the world expects a whopping 780 million new diabetes cases. There has been notably growing awareness among people about the direct relevance of diabetic or prediabetic condition with threatening consequences like kidney failure, foot ulcerations, and limb amputations. Proven linkage of obesity, and a few other lifestyle diseases with the risk of having prediabetic or prediabetic condition is also known to a measurably large population worldwide. An alarming rise in the number of cases of juvenile diabetes among children, and adolescents stands as one of the strongest factors driving preference for diabetic food.
Broadening Availability, and Accessibility in Retail to Uplift Market Prospects
With rising awareness about the symptoms of diabetes and growing public education regarding the lifestyle shifts that could potentially help in reducing the impact, market potential of diabetes-friendly diet will continue to surge. This is likely to encourage sales of a range of food alternatives available on the market. An increasing number of individuals showing interest in adopting preventive measures is primarily driving the growth of diabetic food market. Over the recent past, both the traditional and modern retail channels have been making room for diabetic food products. The health food sector that has been flourishing over the past decade will continue to augur well for diabetic food products as well. In addition to a growing number of hypermarkets, supermarkets, health food stores, and speciality food stores, the market will substantially benefit from e-commerce expansion.
Type 1 diabetes patients are typically recommended to have the Mediterranean diet that comprises all the necessary nutrient-dense foods including fresh vegetables, plant fats like olive oil and nuts, citrus, fish like sardines, and occasional milk and meat. While a majority of patients prefer adherence to the dietary recommendations, many also tend to seek out of the box solution to suit their dietary requisites. This will particularly encourage penetration of newer diabetes-friendly food product categories, thereby support the progress of diabetic food market. Moreover, while a sizeable consumer population has been in favour of sugar-free substitutes over the past few decades, brands have also been significantly raising their usage of artificial sweeteners like acesulfame potassium, neo-tame, and aspartame. Stevia also remains the top-sought sweetening agent, which is expected to influence the dynamics of diabetic food market.
Beverages Continue to Trend, Bakery Product Sales to Heighten
Leveraging the fact that more consumers are developing interest in health foods and willingly purchasing from a host of diabetic food products available on the market, brands have been striving to penetrate deeper with introduction of innovative product lines. There has been a lot of developments in segments like dietary beverages and snacks, low-fat dairy products, low-calorie sugar, diabetic bakery and confectionery, and jellies and ice creams. Frequent new launches are expected to keep the demand floating; however, sales of beverages are likely to be propelled to greater heights. Consumers in developed western countries are particularly generating demand for innovative sugar-free drinks in addition to low-calorie beverage alternatives. Baked food segment is also slated for attractive revenue generation in the next few years as the retail world clears way for multiple popular bakery categories in its diabetes.
The US Remains in the Bandwagon, Asian Economies Reflect Lucrative Potential
Regional analysis reveals that North America will continue to capture the maximum revenue share in diabetic food market as the region houses the largest diabetic population, as well as greater awareness about diabetes prevention and control. Rapid expansion of the health-conscious population, especially in the US, will also significantly benefit the performance of diabetic food market in North America. The American Diabetes Association suggests that more than 10% of Americans were living with diabetes in 2018, around 1.6 million of which had type 1 diabetes. This number also included over 187,000 children and adolescents. Europe also represents an important market for diabetic food companies as the region continues to witness surging diabetes prevalence, and soaring awareness about the health benefits of a diabetes-friendly lifestyle.
On the other hand, diabetic food market in Asia Pacific is poised for an exceptional growth outlook, particularly China, India, and Japan. The role of expanding patient pool of diabetes and prediabetes, growing lifestyle awareness, and increasing consumer inclination toward a preventive approach will remain instrumental to the build-up of diabetic food market here. Flourishing retail markets, and solid e-commerce expansion are also likely to be contributing substantially to supplementing the availability and accessibility across the key economies, thereby pushing the region’s diabetic food market.
Key Market Players in Diabetic Food Space
Nestle S.A., Unilever PLC, Kellogg Company, The Coca-Cola Company, Danone S.A., PepsiCo Inc., Cadbury Plc, Sushma Gram Udyog, Fifty 50 Foods, Inc, Mars Inc, Wellness Pvt Ltd, and Newtrition Plus Health constitute some of the major players competing in global diabetic food market space. Companies are likely to continue directing measurable investments to R&D as they eye innovative diabetic food categories in long term. This would create a new stream of revenue generation opportunities in diabetic food market space as brands would be keen on exhibiting more diverse portfolios over competition. Mondelez International recently confirmed its investment of worth US$65 Mn in building up a global Research, Development & Quality (RDQ) network of the future. The company has consecutively expanded its R&D centre and now aims to have an even stronger foothold in global diabetic food market landscape.
The diabetic food market is segmented as below:
By End Consumers
By Distribution Channel
Key Elements Included In The Study: Global Diabetic Food Market
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