Diabetic food products are intended to consume by diabetes patients as these foods are low sugar and carbohydrate content. Diabetic food can be consumed by healthy people as a precautionary measure. Diabetic food products are used across various application such as confectionary, dietary beverages, snacks, baked products, ice creams & jellies, and dairy products.
The global diabetic food market was estimated to be valued more than US$ 10.5 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 5.8% during the forecast period (2020 to 2027).
Growing awareness regarding the precaution of diabetes among consumers is expected to foster the market growth of diabetic food products. Rising use of diabetic food products in the preparation of medical food and insulin in order to tackle diabetic incidences and obesity around the globe is projected to augment the market growth of diabetic food products. Hence, rising awareness regarding the precautionary measures among people are expected to propel the market growth.
The growing demand for dietary beverages among diabetic patients is encouraging players to expand their foothold in the market which is expected to provide enormous opportunities to the market of diabetic food. For instance, in November 2019, Dr. Reddy's Laboratories announced its entry into India's nutrition segment with the launch of diabetes nutrition drink 'Celevida'. It is a first of its kind product under Dr. Reddy's nutrition portfolio and clinically proven to help manage blood glucose levels among Indian patients.
Different strict rules and regulations regarding the approval of the amount of sugar substitute used in the food products are expected to impact market growth negatively. Moreover, the ingredient used in diabetic food products may lead to side-effects and other health issues. All these factors are expected to hinder the market growth of diabetic food.
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.
Low-calorie food and beverage is a trendy concept in the market which is projected to accelerate the market growth of diabetic food. Rising obesity cases around the globe are also creating demand for low-calorie food and beverage which is further expected to foster the market growth of diabetic food. Rapid urbanization coupled with the rising awareness regarding the health benefits of sugar-free products, energy-drinks, and aerated drinks is further anticipated to foster the market growth of diabetic food.
Partnership and collaboration among major players is one of the current trends in the market and this trend is expected to fuel the market growth of diabetic food. For instance, 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 develop and ultimately commercialize food supplements based on specific microbiota for the purpose of early intervention and nutritional management of diabetes and liver disorders.
Global Diabetic Food Market - Impact of Coronavirus (Covid-19) Pandemic
The increasing demand of packaged and nutrition food products in recent times has resulted in inability to maintain levels of supply. However, rising demand for diabetic foods owing to rising health issues among elderly population during Coronavirus (Covid-19) Pandemic is expected to stabilize the growth of the market after the mid quarter 2020.
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
In November 2017, 6Fifty50 Foods, that designed specialty foods for people living with diabetes, revealed new packaging prominently featuring its brand slogan “Eat Well, Feel Good” to underscore the company’s commitment to helping consumers benefit from a Low-Glycemic diet.