Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Diabetic Food Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global Diabetic Food Market is on track to achieve a remarkable milestone, projected to reach a value of US$ 15.49 billion by 2028. With an expanding world population and a parallel increase in chronic metabolic illnesses, particularly diabetes, the demand for diabetic food products is on a steady rise.
Addressing the Needs of an Increasing Diabetic Population
Diabetes has become increasingly prevalent worldwide, prompting a surge in demand for diabetic dietary products. The global prevalence of diabetes, influenced by genetic and epigenetic factors, has led individuals to seek dietary solutions to manage the condition. Diabetes and pre-diabetes care heavily hinge on lifestyle and dietary choices, necessitating the use of specialized diabetic foods.
Rising Diabetes Prevalence and Growing Health Consciousness Drive Demand
The worldwide diabetic population is predicted to witness a significant surge. According to the IDF, by 2021, an estimated 537 million individuals aged 20 to 79 will be affected by diabetes, accounting for one in every ten people. This figure is anticipated to rise to 643 million by 2030 and further to 783 million by 2045. Factors such as the increasing incidence of obesity and diabetes due to sedentary lifestyles among children and adolescents are fueling the demand for diabetic foods. As consumers become more health-conscious, preventive measures against diabetes are becoming a priority.
Strong Market Growth Forecasted
Between 2022 and 2028, the Diabetic Food Market is projected to grow at a CAGR of 5.79%. Research and development efforts, coupled with a diverse product range catering to a varied consumer base, are instrumental in driving this growth. The adoption of online retail platforms, driven by digitization and the booming e-commerce sector, offers customers an array of options. The proliferation of supermarkets and hypermarkets, an aging population, and increasing disposable income are also contributing factors to market expansion.
Artificial Sweeteners and Health Awareness Propel Market Expansion
The incorporation of artificial sweeteners like aspartame, acesulfame potassium, and neo-tame as sugar substitutes, coupled with growing awareness of the health risks linked to diabetes, is further fueling the expansion of the diabetic food industry. The market is significantly influenced by the escalating prevalence of diabetes across the globe.
Market Growth Driven by Innovation, Prevention, and Awareness
The escalating occurrence of diabetes and obesity among children and adolescents due to sedentary lifestyles, coupled with increased investments in research and development by companies to offer a diverse range of products, contributes to further market growth. Rising disposable income, the pursuit of nutritious diets, the expansion of confectionery and bakery businesses, growing health consciousness, and proactive health measures by consumers are collectively fostering the diabetic food market. In 2022, the diabetic food market was valued at US$ 11.05 billion.
Expanding Applications and Distribution Channels
The diabetic food market is seeing a robust expansion in the Health Food Store category, as these stores cater to individuals seeking healthier dietary alternatives. These establishments offer a wide array of diabetic-friendly products, including low-sugar snacks, whole-grain items, sugar substitutes, and organic selections, addressing the growing health-conscious consumer base. In terms of applications, the Diabetes diet beverage market is a standout, with rising demand for healthier beverage choices driven by the need for diabetes management.
Global Reach and Key Players
The diabetic food market spans the globe, with regions such as Europe, North America, Asia Pacific, and others showing a keen interest in diabetic food products due to heightened health awareness. China's burgeoning diabetic food industry, driven by increasing diabetes prevalence, offers a compelling market segment.
Leading Companies Mentioned:
- Nestle S.A.
- Unilever PLC
- Kellogg Company
- Danone S.A.
- The Coca-Cola Company
Market Segmentation:
Application - Diabetic Food Market:
- Confectionery
- Ice Creams and Jellies
- Dietary Beverages
- Baked Products
- Dairy Products
- Others (including snacks)
Distribution - Diabetic Food Market:
- Supermarkets/Hypermarkets
- Health Food Store
- Discount Store
- Online Sales
- Others
Country - Diabetic Food Market:
North America:
- United States
- Canada
Europe:
- United Kingdom
- Russia
- Germany
- Spain
- Italy
- Netherlands
- Norway
- Sweden
- Switzerland
Asia-Pacific:
- India
- China
- Japan
- Australia
Middle East & Africa:
- Saudi Arabia
- UAE
- Kuwait
- South Africa
Latin America:
- Brazil
- Mexico
Rest of the World
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 170 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $11.05 Billion |
| Forecasted Market Value (USD) by 2028 | $15.49 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/acu25a
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