The diabetic food market is projected to grow at a CAGR of 8.89% to reach US$11.898 billion by 2025, from US$7.137 billion in 2019.
Rising prevalence of different type of diabetes (type 1 and type 2) among the population is causing them to get more aware about consuming health diabetic food in order to mitigate the chances of suffering from further complications.
There has been a rise in the prevalence of diabetes over the past few years and poses as a major burden to the individuals in the populations in the both younger and older generations. According to the data that is provided by the World Health Organization (WHO), the prevalence of diabetes is higher in the middle income and low-income countries, and it is often regarded one the major causes for blindness and other health complications such as heart attacks, stroke and even limb amputations. In 2016, according to WHO statistics. Around 1.6 million deaths were caused as a result of diabetes and was found out to be the seventh leading cause of death. There are around half of the deaths that are caused directly as a result of high blood glucose, which occur to the individuals before the age of 70 years,
Moreover, according to the American Research Institute, there are about 1.5 million Americans are diagnosed with diabetes every year. The prevalence of diabetes was estimated to be affecting around 34.2 million Americans in 2018, with around 1.6 million Americans suffering from Type 1 diabetes, out of which 187,000 individuals were either children or adolescents. The data presented also displayed that there were around 7.3 million individuals out of the 34.3 million, which were undiagnosed with diabetes. The prevalence of diabetes in the geriatric population or the senior citizens accumulates a percentage of around 26.8%, with most of the individuals over the age of 65 filling the gap, which comes around to be around 14.3 million. Therefore, as the number of cases of diabetes are surging every year and causing complications to the individuals suffering from it, they has been an increased in the awareness to follow health diet and consume diabetic food, which has increased its demand and thereby, is boosting the market growth over the forecast period.
Increasing efforts being made the governments in order to promote the consumption of diabetic and healthy food to the patients that re suffering from different types of diabetes in order to improve the health and overall well-being of the individuals in the population.
According to the WHO the consumption of healthy food and the intake of a healthy diet, with some physical activity and maintaining a normal body with among other things such as not consuming tobacco products are some the ways to control diabetes. Moreover, the government is encouraging the consumption of diabetic food in order to keep the blood sugar levels. For example, Singapore’s “War on Diabetes campaign, which was launched by the Singapore Ministry of Health in order to facilitate the decrease in the number of diabetes cases and encourage the individuals to consume diabetic food in order to avoid further complications. The food and beverage industry is also taking significant actions,
and providing diabetic food options to cater to demand arising from the diabetic patients. Moreover, the Elderly Health Service, Department of Health Hong Kong, is also promoting healthy eating by giving out guidelines and some important points to be followed such as following a balanced diet, eating more fibre-rich foods, using healthy cooking methods and eating regular meals and diabetic foods.
Product Lunches by Major Market Players in the Diabetic Food Market Space
The offering of better and advanced varieties of diabetic food with enhanced chemical and physical properties by existing and new players in different markets is estimated to lead to increasing adoption and propel the market growth further over the forecast period.
Some of the examples of the product offerings are as follows:
The Asia Pacific region is expected to witness a significant increase in its market share over the forecast period due to the increasing product offerings and launches and North American and European region to hold a considerable share over the forecast period
The presence of encouraging guidelines in place in the countries such as India for the welfare of people by the government and other countries like Singapore in the Asia Pacific region, the region is expected to witness a significant increase in its market share over the forecast. Additionally, there are major players, which are into offering enhanced diabetic food products to cater to the different needs of the people. North American and European regions are expected to hold a significant share on account of the fact that there are increasing investments in the food and beverage industry and also in the R&D of better technologies and testing methods to assess the quality of healthcare and testing facilities.