The 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.
The diabetes nutrition market is estimated to witness high growth owing to rising awareness of importance of healthy diet and lifestyle for diabetes management. Diabetes is a chronic metabolic disorder that hinders the body from producing enough insulin or using insulin properly. It leads to raised blood sugar levels and improper metabolism of carbohydrates, proteins, and fats. Diabetes nutrition aids in managing blood sugar levels and weight through special dietary recommendations. Market Overview: Diabetes nutrition products include supplements, cereals & snacks, meal replacements, beverages, and others that help in diabetes management. These products are enriched with nutrients, fiber, protein, and other micronutrients important for lowering blood glucose levels. They help patients maintain a balanced diet and prevent blood sugar spikes. The growing diabetes prevalence and increasing health consciousness are driving the adoption of diabetes specific nutrition products. Market key trends: The key trend in the diabetes nutrition market is the rising demand for customizable and convenient nutrition solutions. Earlier, diabetic patients had limited options to choose from. Nowadays, manufacturers offer an extensive range of nutrition products tailored to individual dietary needs, tastes, lifestyles, and budget. ready-to-drink shakes, snack bars, soups, etc. allow hassle-free intake of nutrition on the go. These customizable products empower consumers to better self-manage their condition through personalized dietary modifications. Porter’s Analysis: Threat of new entrants: The rising market size and increasing consumer awareness create opportunities for new players to enter. However, high capital requirements for R&D and brand building pose barriers. Bargaining power of buyers: The buyers have moderate bargaining power due to the availability of substitute products and alternatives. However, ongoing innovation and customized products increase switching costs. Bargaining power of suppliers: The suppliers have low to moderate bargaining power as the market is fragmented with the presence of several raw material suppliers globally. Threat of new substitutes: Owing to continuously evolving dietary guidelines and science, new substitutes may potentially emerge. However, demand for specialized products maintains product differentiation. Competitive rivalry: Intense due to growing competition from key players and private labels. SWOT Analysis: Strength: Growing diabetic population worldwide and increasing awareness about nutrition management of diabetes. Extensive R&D leading to continuous launch of new products. Weakness: High costs associated with marketing specialized products and services. Compliance with stringent regulatory guidelines. Opportunity: Untapped potentials in developing countries. Growing inclination towards plant-based and organic products. Threats: Threat from other chronic diseases reducing focus on diabetes. Stringent regulations associated with marketing claims. Key Takeaways: The Global Diabetes Nutrition Market Size is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period, due to increasing prevalence of diabetes worldwide. The market size for 2023 is estimated to reach US$ 5719.26 Mn. Regional analysis: Asia Pacific region is expected to dominate the global diabetes nutrition market during the forecast period. This is attributed to the rising diabetic patient pool, growing health awareness, and increasing expenditure on healthcare in the region. Within Asia Pacific, China and India are poised to witness the fastest growth, spurred by the presence of emerging economies and burgeoning middle-class populations in these countries. Key players related content: 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. Read more: https://www.rapidwebwire.com/diabetes-nutrition-market-share-analysis/
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