Diabetic Food Market Anticipated to Grow at a Significant Pace by 2024 | Hill Pharmaceutical Co.,Ltd., Mars Food, Kellogg Company, Zen Health Japan Co.,Ltd.
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Diabetes can lead to eye, nerve and heart disorders which require proper food and exercise to function properly. To deal with such problems, diabetic food market participants are introducing products that are low in calories and use sugar substitutes like sucrose, aspartame, cyclamate, saccharin, stevia, sucralose etc. Manufactures are also spreading their distribution network so as to reach the people living in remote regions of the world. Health complexities of the aging population and increase in blood sugar levels has led to a rise in the usage of the artificial sweeteners as a substitute of sugar which will positively affect the diabetic food market during the forecast spell.
Diabetes in youngsters is on the rise according to the statistical data of the past decade and there are several factors that cater to such rise in the disease. According to American Diabetes Association data, more than 1.4 million Americans are diagnosed with diabetes every year and among them more than 23,500 are youngsters. The continuous increase in the occurrence of juvenile diabetes along with digestive problems and obesity due to the lack of physical activity will increase the product demand and propel the diabetic food market growth in coming years. Health issues are becoming common due to the unhealthy lifestyle and habits such as alcohol consumption, late night working shifts, lack of physical exercise, poor food habits, smoking, etc. Thus, there is a strong requirement for increasing awareness about the effects of diabetes and precautions that can be followed. There are many initiatives and programs that are run by the different healthcare organizations that promote healthy lifestyle. These programs have become a prominent factor behind the diabetic food market growth.
Products in the diabetic food market must strictly adhere to the stringent regulations by different government and federal agencies which have norms related to the amount of sugar substitute that is permitted in an edible product. This may hinder the industry growth during the forecast spell. The materials which are used in the product cause various health problems like cancer, tumor and headache which may also limit the diabetic food market growth. High prices may also reduce the product demand and hamper the industry growth in the future.
Based on application, diabetic food market is divided into dietary beverages, dairy products, baked products, ice cream, confectionaries and others. In 2013, dietary beverages segments held a significant share of the diabetic food market due to the large variety of available products and increased consumption. As dietary and diary segments are mature in terms of consumption and product awareness, the confectionery segment is expected to gain market share in the forecast period.
Based on region, diabetic food market is segmented into Asia Pacific, Europe, North America, Latin America and Middle East & Africa. North America is a significant diabetic food market in terms of consumption due to the increase in the population suffering from chronic diseases and high health conscious population. Because of rise in disposable income and growing population, Asia Pacific is expected to witness growth in confectionary and diary sector. Europe and Asia Pacific also had a substantial share of the diabetic food market and will experience a lucrative growth with rise in awareness about the health benefits of the product.
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Key players in the diabetic food market are Hill Pharmaceutical Co.,Ltd., Nestlé, Mars Food, Unilever , The Coca-Cola Company, PepsiCo, Kellogg Company, Chapman’s Ice Cream, Cadbury plc., Zen Health Japan Co.,Ltd., Wellness Pvt. Ltd. and Amber Lyn.
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