by 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:
Diabetes nutrition products help maintain blood glucose levels and support health management for people living with diabetes. These products include snack bars, medical food, supplements and other nutritional products designed for diabetics. They provide balanced nutrition and help control appetite and glucose levels. With rising cases of diabetes globally, the demand for such specialized nutrition products is growing.
Market Dynamics:
Increasing obesity and sedentary lifestyle: Obesity and physical inactivity are key risk factors for the development of type 2 diabetes. With changing dietary patterns and lack of exercise, the prevalence of overweight and obesity has increased significantly across the world. This is expected to propel the growth of the diabetes nutrition market over the forecast period.
Growing elderly population: Age is another important risk factor for diabetes. With substantial growth in the geriatric population worldwide, the burden of diabetes is expected to rise sharply in the coming years. According to the World Health Organization, diabetes cases among people aged 65 years and above are increasing at an alarming rate, boosting the demand for diabetes nutrition products.
SWOT Analysis
Strength: Diabetes nutrition market has high growth potential due to rising diabetic population globally. Manufacturers offering nutrition supplements targeted for blood glucose control and maintaining overall health are gaining popularity. Growing health awareness about benefits of proper diet plans for diabetic management further support market growth. Wide availability of diabetic nutrition products through retail stores and ecommerce platforms make accessibility convenient.
Weakness: Limited affordability of expensive diabetic supplements in low-income regions hamper market demand. Lack of standardization and strict regulatory framework in developing nations pose quality concerns. Complexity and unwillingness among patients to strictly adhere to rigid nutrition plans pose compliance challenges.
Opportunity: Rapid digitization and advent of AI-enabled diabetes management solutions provide growth opportunities. Growing focus on development of nutritional products fortified with herbal extracts/plant-based compounds offer new prospects. Increasing healthcare spending in emerging nations are likely to bolster the demand.
Threats: Stiff competition among existing players restrain pricing flexibility. Threat of substitution from alternate treatment options and rising popularity of alternative medicine limit overall industry revenue. Stringent regulations pertaining product approvals, labelling, and advertising are major challenges faced.
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 diabetic population globally coupled with growing health awareness.
Regional analysis: North America dominates the global diabetes nutrition market owing to rising prevalence of diabetes, strong healthcare infrastructure, and availability of advanced products. Asia Pacific exhibits fastest growth due to increasing health consciousness, growing healthcare spending, large patient pool, and expansion efforts by major players in the region.
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.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
