The global Diabetes Nutrition Market is estimated to be valued at US$ 5719.26 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Diabetes nutrition products consist of low-glycemic index foods, supplements and nutraceuticals specially formulated to manage blood glucose levels and chronic issues related to diabetes. With growing diabetes prevalence globally, there is increased need for dietary management through specialized diabetes nutrition products.
Market key trends:
One of the key trends witnessed in the diabetes nutrition market is the increasing demand for functional and fortified foods. Functional foods are promoted for physiological benefits and disease risk reduction beyond basic nutrition. Food manufacturers are developing various foods like cereals, biscuits, beverages etc. fortified with fibers, proteins and other micronutrients to control blood sugar levels and offer other health benefits. For instance, ITC launched Sunrise Health+ bread fortified with wheat bran fiber, soyabean and other grains to regulate blood sugar levels. Similarly, Baidyanath launched Madhunashini range of foods like porridge and cookies enriched with cinnamon extracts known for anti-diabetic properties.
Segment Analysis
The global diabetes nutrition market is segmented into nutritional drinks, supplements, and tablets. Among these, the nutritional drink segment dominated the market and held the largest market share in 2022. This is because nutritional drinks that are specially formulated for diabetes patients are widely available in the market and are easy to consume. With busy lifestyles, nutritional drinks provide convenience to patients. Supplements are the second largest and fast-growing segment due to factors like increasing vegan population and favorable properties of supplements.
Key Takeaways
The Global Diabetes Nutrition Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing prevalence of diabetes worldwide. As per International Diabetes Federation, around 537 million adults aged 20-79 years were living with diabetes in 2021 and this number is expected to rise to 783 million by 2045.
Regional analysis - Asia Pacific region is currently the fastest growing market for diabetes nutrition and is expected to continue its dominance in the coming years. This is due to rising diabetes population coupled with growing health awareness among people. According to IDF, around 243 million people in South-East Asia and Western Pacific regions had diabetes in 2021.
Key players operating in the diabetes nutrition market are Nestle, Fresenius Kabi AG, Abbott, Danone S.A., Eli Lilly and Company. Nestle dominated the market with its wide range of nutrition products such as Ensure Diabetes Care. Fresenius Kabi AG specializes in clinical nutrition and diabetes care. Abbott leads the blood glucose monitoring segment with its Freestyle brand. Danone S.A. offers specialized dairy products for diabetes management. Eli Lilly and Company provides diabetes drugs and management solutions.
Read more: https://www.ukwebwire.com/diabetes-nutrition-market-insights-trends/
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