Diabetic Food Market Anticipated to Grow at a Significant Pace by 2028

Introduction

The diabetic food market has grown significantly over the past few years. Increasing incidences of diabetes are primarily fuelling the demand for diabetic food products globally. Furthermore, health conscious consumers are showing interest in low calorie food products as part of a precautionary measure to avoid diabetes. Consumers across different regions such as North America, Europe, Asia Pacific and Rest of the World (RoW) are showing interest towards diabetic food products due to growing health consciousness globally. Increasing health complexities caused by rise in blood glucose and growing aging population are also generating a positive impact on the demand for diabetic food products. The aforementioned factors are anticipated to catalyse growth of the global diabetic food market over the forecast period.

Market Value and Forecast

The global diabetic food market is anticipated to expand at a high CAGR in value terms during the forecast period. Increasing consumer awareness about diabetes and healthy lifestyle are the major factors driving the demand for diabetic food globally. With a view to avoid high blood sugar, consumers are showing interest in low calorie food products with reduced carbohydrate content. Growing demand for the prevention of diabetes and rising awareness about its harmful side effects are driving the market for diabetic food globally.

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Segmentation by Application

The global diabetic food market can be segmented on the basis of applications, such as dietary beverages, dairy products, baked products, ice cream and jellies, confectioneries and others. The dietary beverages segment held the largest market share of the global diabetic food market in 2013 in value terms. In the diabetic food industry, the dietary beverages and dairy product segments are mature in terms of product awareness and consumption, thereby leading to a reduced market share in 2020 in value terms. The confectionery segment is anticipated to garner a higher market share by 2020 in value terms as compared to its present share.

Key Regions

The global diabetic food market includes four major regions, namely North America, Europe, Asia-Pacific and the Rest of the World. North America dominated the market, accounting for 37.5% share of the overall diabetic food market in 2013 in value terms, followed by Europe and Asia-Pacific, which stood at the second and third position with a share of 30.9% and 22.3%, respectively, in the same year. Latin America and MEA, are anticipated to become the fastest growing region in the global diabetic food market.

Key Players

Key players in the global diabetic food market include Unilever Plc., Nestle S.A., Pepsico Inc., The Coca-Cola Company, Cadbury Plc., Kellogg Co., Mars Incorporated, Fifty 50 Foods Inc. and David Chapman’s Ice Cream Limited. These companies have adopted the strategy of widening their distribution channels for better product availability and product innovation strategy, in a bid to attract consumers towards their dietary food products for diabetic as well as non-diabetic health conscious consumers.

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