Technavio market research analysts forecast the global diabetic food market to grow at a CAGR of close to 6% during the period 2018-2022, according to their latest report.
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Technavio has published a new market research report on the global diabetic food market from 2018-2022. (Graphic: Business Wire)
In this report, Technavio highlights the growing online retailing as one of the key emerging trends in the global diabetic food market. The growing popularity of e-commerce is making it easier for consumers to browse and purchase from a wide range of healthcare products such as diabetic food through online portals. Online retailing is convenient due to the benefits such as product search, flexibility in payment, and increased option for products. It also helps the players to increase their brand and product visibility in order to increase product penetration. Several products such as diabetic supplements, diabetic-friendly chocolates, peanuts, and confectioneries are available over e-commerce websites. This strategy helps players to decrease their logistics cost and cost incurred toward suitable shelf space, which increases the cost of the product through retail outlets.
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In this report, Technavio analysts highlight the growing use of artificial sweeteners as a key factor contributing to the growth of the global diabetic food market
Growing use of artificial sweeteners
The growing health ailments, due to consumption of sugar, is increasing the demand for artificial sweeteners. People are adopting healthy alternatives to sugar such as artificial sweeteners owing to the growing prevalence of lifestyle diseases such as diabetes and heart diseases. The food and beverage industry is increasingly replacing sugar or corn syrup with non-nutritive additive sweeteners such as sucralose and aspartame. Several artificial sweeteners are available in the market for different food types such as nutritive additive sweeteners including aspartame and non-nutritive additive sweeteners including acesulfame K, saccharin, sucralose, and neotame. They are extensively being used in bakery items such as pastries, cookies, dairy products, confectionaries, and beverages.
According to a senior analyst at Technavio for food, "Factors such as high investments in affordable food products along with rising consumer consciousness in developing economies are expected to provide great opportunities to the producers and manufacturers of artificial sweeteners. In regions such as APAC, the use of artificial sweeteners is increasing owing to the shift of consumers preference toward convenience foods."
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Global diabetic food market segmentation
This market research report segments the global diabetic food market into the following products (diabetic beverages and diabetic dairy products) and key regions (the Americas, APAC, and EMEA).
Of the two major products, the diabetic beverages segment held the largest market share in 2017, accounting for nearly 29% of the market. The market share for this product is expected to increase by 2022. The fastest growing product is diabetic dairy products, which will account for nearly 26% of the total market share by 2022.
The Americas was the leading region for the global diabetic food market in 2017, accounting for a market share of nearly 42%. By 2022, APAC is expected to register the highest growth rate.
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