July 19, 2024
Diabetic Food Market

Diabetic Food Market Driven By Growing Diabetic Population Globally

Diabetic foods are designed to help manage blood sugar levels for people living with diabetes. These foods contain controlled amounts of carbohydrates, fats, and protein to avoid spikes and dips in blood glucose. Some popular diabetic food items include whole grains, fruits and vegetables, dairy products, nuts, seeds, lean meats and fish. The global diabetic population has been increasing rapidly due to obesity, sedentary lifestyles and consumption of calories-rich diets. According to WHO, the number of adults living with diabetes has risen from 108 million in 1980 to 422 million in 2014. This rising prevalence of diabetes is a major factor driving the demand for specially formulated diabetic foods and snacks.

The global Diabetic Food Market is estimated to be valued at Us$ 13.11 Mn in 2023 and is expected to exhibit a CAGR Of 6.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trends in the diabetic food market is the rise of plant-based and vegan options. With growing health and environment consciousness, many diabetic consumers are looking for plant-based substitutes for meat, dairy and snacks. This has led to increased availability of nutritious plant-based diabetic meals, snacks made from lentils, beans, nuts and seeds. Manufacturers are innovating with plant-based ingredients to develop tasty and healthy vegan foods that make blood sugar control easier. Another notable trend is customization and personalization of diabetic plans. Using medical diagnosis and meal preferences, new startups are offering customized diabetic meal plans, snacks and grocery delivery services. This tailor-made approach has grown in popularity as it helps manage diabetes more efficiently by accounting for individual metabolic differences and food choices. Advanced technology is also being leveraged to develop smart packaged foods that help track carb intake and post-meal blood glucose levels in real-time for improved diabetes self-management.

 

Porter’s Analysis

Threat of new entrants: The diabetic food market requires specialized ingredients and knowledge to develop food products targeting patients. This acts as a barrier for new companies.

Bargaining power of buyers: Individual buyers have low bargaining power due to the specialized nature of products. However, large retailers and pharmacy chains can negotiate better prices.

Bargaining power of suppliers: Specialized ingredient suppliers have some bargaining power due to limited availability. However, established food companies can obtain supplies from multiple sources to avoid dependence on any single supplier.

Threat of new substitutes: Alternatives like insulin shots and medicines exist but cannot replace dietary modifications. Therefore, threat of substitutes is low.

Competitive rivalry: Being a specialized market, competition is moderate with focus on new product innovations and expanding distribution channels to boost market share.

Key Takeaways

The Global Diabetic Food Market Demand  is expected to witness high growth over the forecast period supported by rising global diabetes prevalence.

 

Regional analysis:

 

North America leads currently due to high awareness levels and product availability. Asia Pacific is expected to show fastest growth attributed to increasing diabetes cases, growing health consciousness and improved access to treatment.

Key players operating in the diabetic food market are Waifair LLC,Westminster Teak Inc.,Polyteak,Bajanusa Furniture,Frontgate,Gloster Furniture GMBH,Nusantara Teak,Teak Heirlooms,Raft Furniture,Wihardja,Artisera,Teak & Mahogany,Dania Furniture,Danish Teak Classics,Casateak Teak wood furniture,Teak Vogue Sdn Bhd,CV.Jepara Crafter Furniture,Wisanka Indonesia,Kalingga Jati Furniture,Republic Furniture Group. These companies focus on new product launches and expanding their distribution footprint globally.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it