The global Diabetes Nutrition Market is estimated to be valued at US$ 5719.26 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The diabetes nutrition market comprises of various food products such as diabetic snacks, supplements, beverages and other products specifically meant for diabetes management. These food products are specially formulated to help manage blood glucose levels in diabetic patients. Diabetes nutrition products offer advantages like providing balanced nutrition, controlling hunger cravings through slow digestion of carbs and sugars and overall management of blood glucose levels. With rising diabetes prevalence worldwide, demand for such diabetes specific nutrition and food products has increased significantly.
Market key trends:
One of the key trends in the diabetes nutrition market is the rising demand for low glycemic snacks and foods. Low glycemic products release sugars slowly into the bloodstream and help control post-meal blood sugar spikes. They are becoming increasingly popular among diabetic consumers. Another trend is the launch of advanced supplements combining herbs, nutrients and minerals shown to benefit blood glucose regulation. Companies are focusing on innovative formulations of nutrient blends that offer additional anti-diabetic benefits. Furthermore, the market has seen a surge in customized diabetes meal replacement shakes and nutritional drinks launched by leading players. These trends reflect growing consumer demand for effective diabetes nutrition options.
Porter's Analysis
Threat of new entrants: The threat of new entrants is low due to high R&D and marketing costs required to develop diabetes nutrition products. Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of several branded and generic products in the market. Bargaining power of suppliers: There exists a moderate bargaining power of suppliers as raw materials used in production of diabetes nutrition products have lesser differentiation. Threat of new substitutes: The threat of new substitutes is moderate as other lifestyle modifications and dietary choices can be adopted for diabetes management. Competitive rivalry: Competition in the market is high among existing players.
Key Takeaways
The Global Diabetes Nutrition Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing health awareness regarding diabetes management through proper nutrition.
The North America region is expected to dominate the global Diabetes Nutrition Market through 2030 owing to high prevalence of diabetes and presence of major players in the region. However, Asia Pacific region is anticipated to exhibit the fastest growth rate during the forecast period due to growing diabetes population and rising health expenditure in emerging economies like India and China.
Key players operating in the Diabetes Nutrition Market are Nestle, Fresenius Kabi AG, Abbott, Danone S.A., Eli Lilly and Company, Diabetain, Essens Wellness Technologies Private Limited, Medlife, BestSource Nutrition Pvt. Ltd., Inlife Pharma Pvt. Ltd., B Jain Pharmaceuticals Private Limited, PT Kalbe Farma Tbk, Natxtra, Unique Biotech Limited (UBL), Newtrition Plus Health & Wellness Pvt. Ltd., Venus Remedies Limited, Zemaica Healthcare. These key players are focusing on new product launches and acquisitions to strengthen their global foothold.
Get more insights on this topic:
https://www.marketwebjournal.com/diabetes-nutrition-market-market-size-and-share-analysis/
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