May 22, 2024
Diabetic Food Market

Diabetic Food Market Trending Towards Healthier Options by Rising Awareness

The diabetic food market provides a wide range of specially formulated food products that are suitable for people with diabetes. These include snacks, bakery products, cereals and others made from natural ingredients that keep blood sugar levels stable. Due to their nutritional composition and glycemic impact, diabetic foods help manage diabetes, prediabetes and weight gain.

The global diabetic food market is estimated to be valued at US$ 15.11 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.

Key players operating in the Diabetic Food Market Demand include 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, and Republic Furniture Group. The market is witnessing high growth owing to the rising diabetic population globally and growing awareness towards healthy diet and lifestyle.

Key Takeaways

Key players: Waifair LLC is one of the leading players offering a wide range of diabetic-friendly snacks made using natural ingredients. Westminster Teak Inc. manufactures diabetic-friendly cereals with low glycemic impact.

Growing demand: Rapid urbanization, sedentary lifestyle and unhealthy dietary habits have led to a significant rise in diabetes cases globally. This has boosted demand for specially formulated diabetic foods across countries.

Global expansion: Major players are expanding their product portfolio and distribution networks globally to cater to the growing diabetic population worldwide. They are also investing in R&D to develop new foods suitable for various diabetes management diets.

Market key trends

One of the major trends in the Diabetic Food Market is the growing preference for natural ingredients. Manufacturers are increasingly using natural sweeteners like stevia, dates and coconut sugar instead of artificial sweeteners to develop healthier food options. They are also reducing processed ingredients and preservatives in diabetic snacks and meals. This aligns well with the trend towards clean label and organic foods gaining prominence among health-conscious consumers globally.

Porter’s Analysis

Threat of new entrants: The diabetic food market faces moderate threat from new entrants due to high capital requirements for manufacturing, marketing and establishing the brand value.

Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of several substitute options for diabetic food products.

Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of several raw material suppliers and brands in the market.

Threat of new substitutes: The threat of substitutes is low as there are very few substitutes available for providing balanced nutrition needed by diabetics.

Competitive rivalry: The competitive rivalry in the market is high due to presence of several global and regional players competing on the basis of product differentiation, quality, pricing and innovation.

Geographical Regions

North America accounts for the major share in the global diabetic food market in terms of value. This is attributed to the increasing number of diabetic population, high health awareness and greater affordability in countries like the US and Canada. According to a report, over 30 million Americans have diabetes as of 2015 which is presenting a huge demand for diabetic foods.

Asia Pacific region is expected to be the fastest growing market for diabetic foods during the forecast period. This is owing to emerging economies like India and China witnessing rapid economic growth, increasing health consciousness, rising disposable incomes and growing medical infrastructure. With over 60 million diabetic population, India is becoming an important market for manufacturers.

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