Yahoo Finance Diabetic Foods Global Market Report 2023
Major players in the diabetic food market are David Chapman’s Ice Cream Ltd., Fifty 50 Food Inc, Nestlé SA, Unilever Plc., Mars Incorporated, The Coca-Cola Company, PepsiCo Inc., Kellogg Co., Cadbury Plc.
New York, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Diabetic Foods Global Market Report 2023" - https://www.reportlinker.com/p06284489/?utm_source=GNW
, Zen Health Japan Co. Ltd.
The global diabetic foods market will grow from $11.57 billion in 2022 to $13.26 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The diabetic foods market is expected to grow from $21.7 billion in 2027 at a CAGR of 13.1%.
The diabetic foods market consists of sales of low-calorie sweeteners, diet beverages, and other diabetic foods.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Diabetic foods are dietary products that include reduced carbohydrate content and sugar content that help regulate blood glucose increase.
Asia Pacific was the largest region in the diabetic foods market in 2022.Western Europe was the second-largest region in the diabetic foods market.
The regions covered in the diabetic food market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types are bakery products, dairy products, confectionery products, beverages, snacks, and others.A dairy product is milk and any of the foods made from milk, including butter, cheese, ice cream, yogurt, and condensed and dried milk.
The distribution channels for diabetic foods are supermarkets and hypermarkets, drug stores, pharmacies, online stores, and others. The various end users are children and adults.
Increasing cases of juvenile diabetes among children and youth is a key factor driving the growth of the diabetic food market.Incidences of diabetes are growing all over the world, and therefore diabetes among children is quite common.
Most children have type 1(juvenile) diabetes during childhood.About 90% of young people with diabetes suffer from Type 1.
For people with type 1 diabetes, the Mediterranean diet plan is recommended because it is full of nutrient-dense foods, including plenty of fresh vegetables, some oranges, plant fats such as olive oil and nuts, fish such as sardines, and occasional meat and milk. According to the Centers for Disease Control and Prevention [CDC], 2020, more than 34 million Americans have diabetes, which is nearly 11% of the U.S. population and 1.6 million Americans have Type 1 diabetes, which includes 187,000 children and adolescents. Therefore, the increasing number of cases of juvenile diabetes among children and youth is expected to drive the growth of the diabetic food market.
Food labelling is a key factor hindering the growth of the diabetic food market.There has been a concern for some time that labelling food as ""diabetic"" could confuse people with diabetes into believing that food is important or at least especially necessary.
Improvement in food policy ensures that companies will not be able to label food as ""diabetic"" or ""made for diabetics"".Diabetes UK reacted furiously and has been fighting for the removal of the labels for over 30 years, which wrongly suggest a health advantage for people with diabetes and are seen as important to conventional alternatives.
Therefore, labelling food is expected to restrict the growth of the diabetic food market.
Product innovation is the key trend in the diabetic food market.The introduction of various items such as low-calorie sweet beverages, sugar-free jellies, diabetic bakery items, low-fat ice cream, and other dairy goods is attracting more customers towards diabetic foods.
For instance, companies like Coke, Pepsi, Thumps Up and Sprite introduced new beverages such as protein shakes, good-for-good beverages, and functional waters that are gradually making their presence felt in retail stores and contributing to faster growth in the overall beverage category.With an annual growth rate of 7%, the carbonated soft drinks (CSD) industry in India is pegged at Rs 25,000.
Coke’s biggest segment in the US, Diet Coke, and Coke Zero Sugar, contributed to an 8% rise in retail sales growth last year for the brand of non-calorie sparkling soft drinks. It reported a 5% organic global growth overall for the year.
In April 2022, Kerry Group plc, an Ireland-based nutrition company acquired Natreon, Inc for an undisclosed amount.Through this acquisition, Kerry Group plc aims to strengthen its product portfolio in nutrient solutions and expand its research capabilities.
Natreon, Inc is a US-based company operating in ayurvedic botanical ingredients.
The countries covered in the diabetic food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The diabetic foods research report is one of a series of new reports that provides diabetic foods statistics, including diabetic foods industry global market size, regional shares, competitors with diabetic foods share, detailed diabetic foods segments, market trends and opportunities, and any further data you may need to thrive in the diabetic foods industry. This diabetic foods research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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