Global Diabetic Food Market is Estimated to Account for US$ 16.5 Bn by End of 2027, Says Coherent Market Insights (CMI)
SEATTLE--(BUSINESS WIRE)--Apr 16, 2021--
A diabetic diet is usually a specialized diet, which is employed by those with diabetic conditions to minimize the dangers and symptoms of extremely high blood glucose elevations in the body. Diabetic food sources differ greatly from the normal diet of a normal person. Diabetic foods help to reduce blood glucose levels in the patient. A typical diabetic diet is simply a modified diet that people with type 2 diabetes or even high blood pressure should use to help control symptoms and potentially dangerous complications of high blood glucose. Diabetic foods are not limited to just specific types of meals like meat, eggs, and poultry but can include vegetables, fruits, and grains as well. Dairy products such as butter, cheese, ice cream, and other milk products are completely safe for diabetics. These dairy products have either low or no sugar and provide a number of other essential nutrients which help diabetics maintain healthy body weight.
The global diabetic food market is estimated to account for 16.5 Bn in terms of value by the end of 2027, witnessing CAGR of 5.8%
Growing awareness regarding diabetes and the increasing availability of diabetic food products is driving the growth of the diabetic food market. Moreover, the growing use of artificial sweeteners such as aspartame, acesulfame potassium, and neo-tame as a substitute for sugar is again anticipated to propel the growth of the market. Furthermore, increasing disposable income and rapid urbanization around the globe have further boosted the growth of the diabetic food market in recent years.
The growing prevalence of diabetes is fostering the growth of the diabetic food market . According to the American Diabetes Association, in 2018, 34.2 million Americans, or 10.5% of the population, had diabetes. Nearly 1.6 million Americans have type 1 diabetes, including about 187,000 children and adolescents. The percentage of Americans age 65 and older remains high, at 26.8%, or 14.3 million seniors (diagnosed and undiagnosed).
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Diabetic food manufacturers are introducing various products such as low-fat dairy products, jellies, and ice creams, low-calorie sugar, diabetic baked products, dietary beverages & snacks, and confectionery is expected to bring new opportunities. Also, the increasing prevalence of juvenile diabetes among children and youth due to lack of physical activity is again fostering the growth of the market. Additionally, the hectic lifestyle and growing geriatric population are increasing the prevalence of diabetes. This will further provide enormous opportunities to the market for diabetic food.
Increasing investment in the R &D by key players in order to cater to growing demand around the globe is expected to provide profitable opportunities for the market. For instance, in June 2020, Medtronic has increased research and development (R&D) funding in its diabetes group through an agreement to receive $337 million of funding from funds managed by Blackstone Life Sciences. The investment is aimed at advancing new, innovative products specially designed to reduce the burden of diabetes management.
Increasing consumption of sugar-free and low-calorie beverages particularly in North America and Europe is a growing trend. People are shifting their preferences to adopt a healthy lifestyle which is creating demand for sugar-free and low-calorie food products. Key players are introducing low-calorie bakery products for consumers. This is again facilitating the growth of the market. In September 2020, Kirin and FANCL launched functional drinks. The new products include a non-alcoholic ready to drink beverage with a Food with Function (FFC) claim for reducing the absorption of sugar and fat.
Increasing spending on food products by consumers is one of the emerging trends in the market. According to the United States Department of Agriculture, in 2019, food spending by U.S. consumers, businesses, and government entities totaled $1.77 trillion.
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Key players are operating in the global Diabetic food market are Nestle S.A., Unilever Plc, PepsiCo Inc., Cadbury Plc, The Coca-Cola Company, Kellogg, Company, Fifty 50 Foods, Inc., Mars Inc., Newtrition Plus Health and Wellness Pvt. Ltd, and Herboveda India.
Global Diabetic Food Market, By Application:
- Dietary beverages
- Ice cream and jellies
- Dairy products
- Baked products
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. Our client base includes players from across various business verticals in over 57 countries worldwide.
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CONTACT: Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RETAIL HEALTH DIABETES SUPERMARKET FITNESS & NUTRITION SPECIALTY FOOD/BEVERAGE
SOURCE: Coherent Market Insights
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PUB: 04/16/2021 09:10 AM/DISC: 04/16/2021 09:10 AM