Over the past few years, the diabetic food market has grown progressively. The effective growth in incidences of diabetes is commonly propelling the requirement for diabetic food products around the globe. In addition, health-conscious customers are presenting an interest in low-calorie food products as part of a precautionary measure to circumvent diabetes. Customers around diverse regions likewise Europe, North America, Asia Pacific, and the Rest of the World (RoW) are presenting interest in diabetic food products owing to rising health consciousness around the globe. Growing health complexities caused by growth in blood glucose and an increasingly aging populace are also introducing a positive impact on the requirement for diabetic food products. The above-cited aspects are predicted to catalyze the growth of the global diabetic food market over the review duration.
According to SPER market research, ‘Diabetic Foods Market Size- By Distribution Channel, By Product, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecasts to 2032’ state that the global diabetic foods market is anticipated to reach USD 23.64 million by 2032 with a CAGR of 6.12%.
The growing diabetic population around the world coupled with the growing awareness of different health issues linked with diabetes are the foremost aspects propelling the growth of the global market. In addition, the growing prevalence of obesity and diabetes due to the shortage of physical activity among kids and adolescents is also underwriting the market growth. Customers are progressively becoming aware of the preventive measures that can be taken against diabetes. Furthermore, the progressive growth in research and development activities to introduce food products and a diversified product portfolio that caters to the demands of a broad customer base is further catalyzing market growth.
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Also, due to the speedy digitalization and thriving e-commerce industry, producers and vendors are accepting online retail systems to deliver a wide product variety to customers. This, along with the proliferation of supermarkets and hypermarkets, the growing geriatric population, and growing disposable income, underwrites progressively the market growth.
The rise in the prevalence of diabetes around the world functions as one of the foremost aspects propelling the growth of the diabetic food market. The increment in usage of artificial sweeteners involving acesulfame potassium, aspartame, and neo-tame as a substitute for sugar, and augmented awareness of different health risks associated with diabetes increase the market growth around the globe. The increment in the prevalence of diabetes, and obesity among kids and adolescents owing to the shortage of physical activity, and the increment in investment in research and development by companies to cater to a broad variety of products further propel the market growth. Moreover, an increment in disposable income, increment in the requirement for healthy food, enlargement of the confectionery and bakery industry, growth in health consciousness, and increment in preventive measures taken by customers positively affect the diabetic food market.
North America enumerated the market for diabetic food and registered for the greatest revenue share throughout 2021 due to rising health complications on account of the high levels of blood glucose and the aged populace majorly around the U.S.
Diabetic Foods Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Distribution Channel: Based on the Distribution Channel, Global Diabetic Foods Market is segmented as; Drug Stores or Pharmacies, Hyper Markets & Super Markets, Grocery Stores, Online Stores.
By Product: Based on the Product, Global Diabetic Foods Market is segmented as; Bakery Products, Dairy Products, Snacks Baked Product.
By Region: North America owns the prime share of this market; the major factors of the market’s growth in the region are due to the escalating health complications brought on by high blood glucose levels and the ageing population, particularly in the U.S., North America now controls the majority of the diabetic food industry and generates the majority of its income.
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