Transparency Market Research states that the competitive landscape in the global diabetic food market is highly fragmented due to presence of several players. The low section hindrance and regularly developing purchaser base has made a mammoth interest for diabetic food things. Developing number of provincial players that are contributing making an assortment of diabetic food things that are suit the necessities of diabetics have a place with fluctuated societies and tastes. In the coming years, merchants working in the worldwide diabetic food market are relied upon to concentrate on better marketing and marking systems to contact a mass group of spectators in different pieces of the world. A portion of the main players working in the worldwide diabetic food market are Cadbury Plc., PepsiCo Inc., Mars Inc., The Coca-Cola Company, Nestle S.A., and Kellogg Company.
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According to the research report, the global diabetic food market is expected to be worth US$11.1 bn by 2020, as the market surges at a CAGR of 5.90% between the forecast period of 2014 and 2020. Out of the many products available in the global market, the dietary beverages segment is expected lead the pack as their consumption remains the highest. Geographically, the global market will be led by North America due to higher awareness and availability of these products in the regional market.
The growing number diabetics across the world is the very reason for the rapid expansion of diabetic food market in recent years. Furthermore, the unfortunate rise in the number of juvenile diabetics and growing incidences of Type 2 diabetes have augmented the demand for artificial sweeteners such as aspartame, acesulfame K, and neo-tame. The growing acceptance of these artificial sweeteners have directly supplemented the demand for diabetic food items in recent years. Continuous efforts by market players to expand their product portfolio through product innovation has had a positive impact on the overall market.
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The demand for diabetic food items is also expected to rise as amongst the health-conscious people. Food items made with artificial sweeteners are low in calories and fats and thus help in maintaining weight. Furthermore, they help in managing blood sugar levels. In light of all of these reasons, several health enthusiasts are opting for diabetic desserts, bakery items, and beverages. Increasing availability of diabetic food items at retail stores, hypermarkets or supermarkets, and e-retail shops have also stoked the growth of the global diabetic food market.
On the downside, the global diabetic food market is expected to face numerous challenges. The present challenge for the global market is the high price of these food items as compared to the regular items. This is the very reason why diabetic food items haven’t gained enough popularity in price-sensitive regions of the world. Furthermore, the awareness about the health hazards of consuming artificial sweeteners are also discouraging consumers from buying diabetic food items. Lack of availability of diabetic food items in developing parts of the world has also limited the scope for growth for the overall market in recent years.