Driven by Rising Healthcare Awareness Among Consumers, Global Diabetic Food Market to Exhibit 5.90% CAGR 2014-2020
The global diabetic food market for the focus of analysis of a latest market research report published by Transparency Market Research. The report, titled “Diabetic Food Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020,” gives a thorough overview of the present and past state of the market and gives a forward looking perspective about the market’s growth prospects from 2014 through 2024.The report states that the market will record a healthy 5.90% CAGR over the said period and rise from a valuation of US$7.4 bn in 2013 to US$11.1 bn by 2020.
In the recent times, the prevalence of diabetes has increased at a substantial pace on a global front, from 4.7% in 1980 to 8.5% in 2014 among adults over the age of 18 years, according to the World Health Organization. The number of people suffering from diabetes has increased from 108 million to 422 million over the same period on a global front. The rate at which diabetes is spreading has outlined the pressing need for taking active measures aimed at preventing or delaying the onset of type 2 diabetes and avoiding the consequences of other types.
Attempts are being made by government and private healthcare bodies to raise awareness about the prevention and proper management of the disease. The resultant rise in consumer awareness about proper management of diabetes has led to a substantial rise in the consumption of functional foods such as diabetes foods and nutraceuticals worldwide.
To cater to the rising diabetic population, the healthcare industry is also ramping up its collection of food products especially made for diabetics, which are low in calories and use sugar substitutes. These factors, in combination with the rising consumer base, are collectively boosting the overall diabetic food market.
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The report examines the global diabetic food makret on the basis of two criteria: application and geography.
On the basis of application, the market has been segmented into dietary beverages, ice cream and jelly, dairy products, confectionary, baked products, and other applications. On the basis of geography, the market has been segmented into Europe, North America, Asia Pacific, and Rest of the World.
Of these, the market for diabetic food in North America led the global market in 2013 and is expected to maintain its dominance over the forecast period as well. This is majorly owing to the high consumer awareness about the health benefits of low-calorie foods and the high prevalence of diabetes.
Germany and the U.K. are the leading markets for diabetic food in Europe owing to the rising adoption of healthy food varieties among geriatrics. India and China are the leading markets for diabetic food in Asia Pacific, owing to factors such as the rising population of diabetics, rising disposbale incomes and the rsultant affordability of speacialized foods.
The report also presents a detailed overview of the competitive landscape of the market, and recognizes and profiles some of the most influential vendors in the global diabetic food market. Market players profiled in the report include David Chapman’s Ice Cream Limited, Unilever Plc, The Coca-Cola Company, Cadbury plc., PepsiCo Inc., Fifty 50 Foods Inc., Mars Inc., Nestle S.A., and Kellogg Company.
The market has been segmented as follows:
Global Diabetic Food Market: Application Analysis
Ice Cream and Jellies
Global Diabetic Food Market: Regional Analysis
Rest of the World