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January 2024
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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 foodstuffs and supplements primarily aimed at managing diabetes and maintaining healthy blood sugar levels. This includes meal replacement shakes, snacks, drinks and supplements containing ingredients like fiber, vitamin D, chromium and omega-3 fatty acids that help regulate blood sugar. These products provide diabetics an easy way to consume well-balanced meals and snacks while keeping their condition in check. Market Dynamics: Increasing prevalence of diabetes: The rising global prevalence of diabetes, especially type 2 diabetes driven by obesity, sedentary lifestyles and urbanization is a key driver boosting demand for diabetes-specific nutrition products. As per estimates, about 463 million people were suffering from diabetes worldwide in 2019 and this figure is expected to rise to over 700 million by 2045. Growing health consciousness: Greater awareness among consumers about maintaining overall wellness is propelling the sales of diabetic nutrition products. These supplements promote blood sugar control and general health. Busy consumer lifestyles are fuelling demand for convenient packaged or on-the-go foods tailored for diabetics. Segment Analysis The diabetes nutrition market is segmented into diet drinks, meal replacement, snacks and sports nutrition. Among these, the meal replacement segment dominated the market in 2022 owing to increasing trend of meal replacement instead of conventional cooking among diabetic patients as it has controlled sugar and calorie intake. PEST Analysis Political: Governments across regions are spreading awareness about diabetes and its management through educational programs which is positively impacting the market growth. Economic: Rising per capita incomes have increased healthcare expenditures thereby augmenting demand for diabetes nutrition products. Social: Growing social media influencer marketing and health-conscious lifestyle are driving several individuals towards healthier food options like specialized diabetes nutrition and supplements. Technological: Product innovations incorporating latest research in diabetes treatment and digitization of services for remote consultancy are supporting market expansion. 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 prevalence of diabetes worldwide. North America currently dominates the market owing to rising incidences of diabetes and obesity while Asia Pacific is projected to be the fastest growing market led by large patient pool and improved healthcare access in major countries. 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 developing innovative products and adopting digital technologies for catering personalized nutrition to diabetes patients. Regional analysis Asia Pacific is emerging as a high growth region in diabetes nutrition market. Factors such as rising awareness, improving healthcare infrastructure and increasing domestic production of diabetes nutrition supplements are promoting market expansion in countries like India and China. Get more insights on this topic: https://www.dailyprbulletin.com/diabetes-nutrition-market-market-size-share-analysis-growth/
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