The global diabetic food market was valued at USD 7,418.6 million in 2013 and is anticipated to reach USD 11,098.0 million by 2020, expanding at a CAGR of 5.9% from 2014 to 2020. North America dominated the global diabetic food market in 2013 and is expected to maintain its leading position over the forecast period.
The popularity of health food is rising enormously in the global arena, however, there remain some section mostly ignored by major health food producers. Diabetic food is one such section that is struggling to overcome consumer uncertainty and limited distribution.
Transparency Market Research, a U.S.-based market research and intelligence firm, has recently published a market study on the
global diabetic food market. Analysts at TMR determine the value of this market in 2013 at US$7,418.6 million. Over the period from 2014 to 2020, the market is expected to develop at a CAGR of 5.9% and reach a value of US$11,098.0 million by the end of 2020.
Browse Market Research Report of Diabetic Food Market:
Nowadays, the rising incidence of diabetes has encouraged people to get themselves informed about the disease and its cure and precautions. As diabetes can be controlled by proper eating habits, the rising awareness about the benefits of low-calorie food is prompting people to shift towards diabetic food. However, limited distribution of diabetic food products is the major reason behind the lack of availability, which is causing a price hike in the diabetic foods market. This creates a severe challenge for the global diabetic market.
Let’s discuss some major trends prevalent in the global diabetic food market that are expected to strengthen the market’s growth prospects in the near future.
#1. Transforming eating habits: Not just eating habits, but food preferences of consumers are also showing immense modification in the modern world. This factor is expected to drive demand for diabetic food.
#2. Rising health complications: The global increase in the population of diabetics and the growth in the prevalence of diabetes-related complications are increasing the demand for diabetic food to a great extent.
#3. Improvement in living standard: The improvement in the global standard of living is impacting the demand for low-calorie diabetic food positively and is expected to fuel the market for diabetic food in the long run.
#4. North America leads global diabetic food market: In 2013, the global diabetic food market was led by North America and analysts expect it to maintain its dominance in the near future.
#5. U.S. dominates North American diabetic food market: The U.S. is the biggest diabetic food market in North America. Increasing geriatric population and rising health complexities associated with diabetes are pushing the U.S. diabetic food market forward.
#6. Asia Pacific Reports Fastest Growth: On account of a large geriatric population base, Asia Pacific is poised to register the fastest growth in the global diabetic food market in the coming years. China and Japan are the leaders in the Asia Pacific diabetic food market.
#7. Germany and the U.K. dominate European diabetic food market: In Europe, the demand for diabetic food products mostly arises from Germany and the U.K. The increasing level of awareness regarding healthy eating is the key reason behind this growth.
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The major players in the global diabetic food market are Nestle S.A., Kellogg Co., Cadbury plc, PepsiCo Inc., Fifty 50 Foods Inc., Mars Inc., David Chapman's Ice Cream Ltd., Unilever Plc, and The Coca-Cola Co.
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