DUBLIN, January 31, 2022 /PRNewswire/ — The report “Diabetic Foods Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, COVID-19 Impact, Business Opportunity Analysis” has been added to from ResearchAndMarkets.com offer.
The Global Diabetic Food Market Will Reach US$14.66 billion by 2027
Worldwide, the prevalence of diabetes is increasing; according to the World Health Organization (WHO), in 2021, 463 million people will have diabetes worldwide. By 2045, that number will rise to some 700 million people with diabetes worldwide. Lifestyle and dietary patterns play an important role in the adoption of diabetic foods for people with diabetes or prediabetes. Diabetic foods are diet products that are low in carbohydrates and sugar and help control blood glucose levels. Diabetic food sources deviate significantly from the normal diet of an average person.
Market Drivers for Diabetic Food Industry
The main thrust of the diabetic food market growth is the growing diabetic population. Increased awareness of health issues related to diabetes, problems and rise in obesity are also contributing to the development of the diabetic food industry. Additionally, the increasing use of artificial sweeteners such as acesulfame potassium, aspartame, and neo-tame as a replacement for sugar is again expected to propel the market growth.
Diet drinks are at the forefront of demand from the diabetic food industry
Based on application, the diabetic food market includes confectionery, ice cream and jellies, diet drinks, baked goods, dairy products and others (including snacks). Diet drinks are becoming the main application, due to the high demand for sugar-free and low-calorie drinks. A diet drink is simply a varied diet that people with type 2 diabetes or even above blood pressure should use to better control the symptoms and potentially dangerous complications of high blood sugar.
Additionally, dairy products such as butter, ice cream, cheese, and other dairy products are completely safe for people with diabetes. These dairy products contain little to no sugar and provide several other essential nutrients that help diabetics maintain a healthy body weight.
Diabetic Food Market to Grow with a CAGR of 5.82% from 2021 to 2027
However, distribution channels like supermarkets and hypermarkets and health food stores offered easy availability of a wide variety of diabetic foods and discounts. Selling diabetic food products through online distribution channels is expected to be the fastest growing distribution channel. Possessing online avenues is convenient and gaining popularity around the world to deliver different food products.
The diabetic food market was worth US$10.44 billion in 2021
In terms of region, North America holds a large market share owing to the presence of the largest pool of population with chronic disorders coupled with larger number of health conscious populations in the region. In 2018, according to the American Diabetes Association, 34.2 million Americans, or 10.5% of the population, had diabetes. 1.6 million Americans had type 1 diabetes, including 187,000 teenagers and children.
Outraged, Europe is witnessing a lucrative growth in demand owing to the growing awareness of healthy living in the region. the Asia Pacific is the fastest growing, especially in China, India, and Japan, due to rapid globalization, population growth and rising consumer disposable income.
Impact of COVID-19 on the Diabetic Food Industry
The COVID-19 pandemic is affecting diabetes foods through economic and social shocks, food system disruptions, and gaps in coverage of essential health and nutrition services. In low- and middle-income countries, food systems need to adapt and strengthen food and nutrition security in the wake of COVID-19.
The major plans adopted by companies to expand in the diabetic foods industry are mergers and acquisitions, product launches, and agreements and collaborations. These strategies would result in high performing products. The main players in the market are Unilever PLC, Nestlé SA, Kellogg Company, Danone SA and Coca-Cola Company.
Application – Diabetic Foods Market Breakdown by 6 Viewpoints
2. Ice cream and jellies
3. Diet drinks
4. Baked goods
5. Dairy products
6. Others (including snacks)
Distribution – Breakdown of the diabetic food market by 5 points of view
2. Health food store
3. Discount store
4. Online sales
Region – Diabetic Foods Market Breakdown by 5 Viewpoints
1. North America
3. Asia Pacific
4. Middle East & Africa
5. South America
2. Nestlé SA
3. Kellogg Company
4. Danone S.A.
5. The Coca-Cola Company
All key players were covered from 3 points of view
For more information about this report visit https://www.researchandmarkets.com/r/iqfo90
Research and Markets
Laura Wood, senior
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SOURCE Research and Markets