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Diabetic Food Market is Estimated to Witness High Growth Owing to Rising Prevalence of Diabetes

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naufan003
Diabetic Food Market is Estimated to Witness High Growth Owing to Rising Prevalence of Diabetes

Diabetic food includes food items that are specially formulated to manage blood sugar levels for people suffering from diabetes. These food items have a low glycemic index which helps control blood glucose levels. Common diabetic foods include whole grains, fruits and vegetables, beans, nuts and seeds, dairy products, legumes, sweeteners etc. These foods help manage appetite, provide sustained energy, and control sugar spikes after eating. Products like low sugar chocolates, sugar-free cookies and cakes, diabetic-friendly breakfast cereals are gaining popularity. The global diabetic food market provides a wide variety of food options for people with diabetes to maintain a balanced diet and lifestyle.

The global diabetic food market is estimated to be valued at US$ 15.11 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the diabetic food market is the rising prevalence of diabetes globally. As per International Diabetes Federation, currently over 537 million adults (20-79 years) are living with diabetes and by 2030, the number is projected to rise to 643 million. Additionally, lack of physical activity and obesity are major contributors leading to increased risk of developing diabetes. This large diabetic population base is generating significant demand for specially formulated diabetic foods. Furthermore, improved awareness about managing diabetes through diet is also fueling the sales of low sugar, low glycemic foods in the market.

SWOT Analysis

Strength: Diabetic food market offers various healthier options for diabetic patients that help control blood sugar levels. The availability of low glycemic and sugar-free substitutes provide three flexible dietary choices. Various government initiatives toward promoting healthier lifestyle and diabetes management education strengthen the market.

Weakness: Diabetic substitutes are often more expensive than regular food options due to special formulations and lower mass production. This acts as a deterrent for many consumers. Not all substitutes effectively mimic the taste of regular foods, affecting patient compliance in the long run.

Opportunity: Rising global prevalence of type 1 and type 2 diabetes drives the need for specialized dietary management. Growing health-conscious consumer base in emerging countries present opportunities. Advancements in low-calorie sweeteners and formulation technologies widen product ranges.

Threats: Aggressive marketing of unhealthy snack and beverage options distract consumers. Fake health claims by some emergent brands undermine the effort. Strong bargaining power of retail giants compress margins of smaller players. Stringent regulatory approvals for new product launches hamper speedy market entry.

Key Takeaways

The Global Diabetic Food Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global diabetic food market is estimated to be valued at US$ 15.11 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.

North America currently dominates the market backed by supporting reimbursement policies and advanced healthcare systems. However, Asia Pacific region is estimated to grow at the highest CAGR during 2024-2031 due to rapidly growing diabetic patient pool, rising health awareness, and improving access to healthcare. China and India have emerged as major markets, with government programs boosting standard of living and diabetes management.

Key players: Key players operating in the diabetic food market are Waifair LLC,Westminster Teak Inc., Polyteak,Bajanusa Furniture,Frontgate, Gloster Furniture GMBH. They offer a wide range of low-glycemic substitutes for bread, breakfast cereals, snacks etc. across global markets.

Get more insights on this topic: https://newsstatix.com/diabetic-food-market-share/

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