Diabetic Foods Market

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DIABETIC FOODS MARKET ANALYSIS 

• Diabetic Foods Market, By Application (Dietary
  beverages, Ice cream and jellies, Dairy products,
  Confectionery, Baked products, Others), and By
  Region (North America, Europe, Asia Pacific,
  Latin America, Middle East Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2020 -
  2027

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Diabetic food products are dietary food products
that are low in sugar and carbohydrate contents
that help to control the rising sugar level in
the blood. Diabetic food also includes
low-calorie sweeteners, diet beverages with
low-calorie sweeteners such as lactitol,
aspartame, and sorbitol.The global diabetic food
market is projected to surpass US 16.5
billion by the end of 2027, in terms of revenue,
growing at CAGR of 5.8  during the forecast
period (2020 to 2027).

• Drivers
• market growth of diabetic food products.
  According to The International Diabetes
  Federation, in 2019, approximately 463 million
  adults (20-79 years) were living with diabetes
  by 2045 this will rise to 700 million worldwide.
  Moreover, 1 in 5 of the people who are above 65
  years old have diabetes. Thus, growing
  prevalence of diabetes is projected to foster the
  market growth of diabetic food.
• Growth in the aging population around the globe
  as they are highly prone to diabetes is expected
  to accelerate the market growth of diabetic food
  products. According to the World Health
  Organization, between 2015 and 2050, the
  proportion of the world's population over 60
  years will nearly double from 12 to 22. By
  2050, 80 of older people will be living in low-
  and middle-income countries.
• Regionally, North America dominated the global
  diabetic food market in 2019, reporting 37 market
  share in terms of revenue, followed by Europe
  and Asia-pacific, respectively.

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Figure 1. Global Diabetic Food Market, Revenue
Share (), By Region, 2019
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Market Restraints

• The high cost of diabetic food due to use of
  low-calorie sweeteners and other healthy
  ingredients increase the overall cost of the
  food product. Thus, the high cost of this food is
  expected to hinder the market growth of diabetic
  food.
• Lack of awareness regarding the health benefits
  of diabetic food among consumers is hampering the
  demand for the food. Hence, the lack of awareness
  regarding the food product across rural areas is
  expected to restrict the market growth of
  diabetic food in the near future.

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Market Opportunities

• Expanding retail industry especially in Asia
  Pacific region is expected to serve major growth
  opportunities to the market of diabetic food.
  According to the India Brand Equity Foundation,
  the retail industry reached US 950 billion in
  2018 at CAGR of 13 and expected to reach US 1.1
  trillion by 2020. Online retail sales are
  forecasted to grow at the rate of 31
  year-on-year to reach US 32.70 billion in 2018.
  Revenue generated from online retail is projected
  to grow to US 60 billion by 2020.
• The increasing focus of manufacturers on
  establishing new RD centers for expanding their
  presence in the market is expected to offer
  potential opportunities to the market of diabetic
  food. Moreover, changing lifestyle coupled with
  the rising demand for functional food among
  health-conscious consumers is also expected to
  foster the market growth of the diabetic food
  over the forecast timeframe.

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Figure 2. Global Diabetic Food Market
Opportunity Analysis
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 Market Trends 

• Consumption of baked products with sugar
  substitutes around the globe is a growing trend
  in the market. This trend is expected to foster
  the market growth of diabetic food. For instance,
  in October 2018, Ultimate Baker launched a range
  of Kosher-certified naturally colored xylitol
  baking accessories for the diabetic market.
  Xylitol is an FDA approved sugar substitute that
  has a very low glycemic index and does not spike
  blood sugar or insulin. Ultimate Baker xylitol is
  produced from 100 plant fiber and is designed
  specifically for use by diabetics.
• Increasing expenditure on healthy food products
  by consumers due to the rising health wellness
  trend in the market is expected to augment the
  market growth of diabetic food. Improving
  lifestyle coupled with the growing disposable
  income of the populations is expected to fuel the
  market growth of diabetic food. Furthermore,
  growth in the population coupled with the rising
  prevalence of juvenile diabetes among children is
  further anticipated to accelerate the market
  growth of diabetic food.

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• Figure 3. Global Diabetic Food Market, Revenue
  Share (), By Application, in 2019

On the basis of application, dietary beverages
dominated the global diabetic food market in 2019
with around 29 of market share in terms of
revenue, followed by dairy products and ice cream
and jellies, respectively.
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• Global Diabetic Food Market - Impact of
  Coronavirus (Covid-19) Pandemic
• There have been unprecedented variations in the
  global sales of food products owing to the
  changes in purchase patterns among consumers.
  Rising trends of bulk buying and stockpiling of
  perishable foods has led to certain foods being
  in very limited supply, which in turn has led to
  price fluctuations in global diabetic food
  market. This scenario is expected to hinder the
  growth rate the market till the early months of
  2021.
• Competitive Section
• 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
• Few Recent Developments
• Nestle S.A.
• In January 2020, Nestlé and Merit Functional
  Foods enter joint development agreement to scale
  pea and canola protein supply. 
• In December 2019, Caelus Health, a developer of
  food supplements and pharmaceutical products for
  the prevention and management of cardio-metabolic
  diseases, has entered into a strategic
  collaboration with Nestlé Health Science (NHSc).
  The aim is to further develop and ultimately
  commercialize food supplements based on specific
  microbiota for the purpose of early intervention
  and nutritional management of diabetes and liver
  disorders.

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