Increasing
population of diabetes patients, rising awareness about availability of food
products compatible with diabetes and growing health consciousness to drive India
food for diabetics market through 2023
According
to TechSci Research report, “India
Food For Diabetics Market By Product Type, By Distribution Channel, Competition Forecast &
Opportunities, 2013 – 2023”, India food for diabetics market is projected
to grow at a CAGR of over 12% during 2018 - 2023. Demand for food for diabetics is expected to grow in the
country, on account of rising population of diabetics due to unhealthy
lifestyle coupled with growing awareness about availability and benefits of
food products that can be consumed by diabetics. Additionally, rising trend of
dual household income in middle-class population is resulting in increased disposable
income that is aiding the demand for food for diabetics, which are otherwise
considered premium due to their high prices.
Browse 43 market data Figures and Tables spread
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Advent
of modern trade channels and e-commerce industry is creating new routes for
manufacturers/importers to reach their customers. Supermarkets/hypermarkets provide
an effective platform for companies to showcase their new product launches and
increase their visibility, while online sales channel is enabling companies to
widen their distribution reach and serve their customers even in the farthest
of regions. Growing number of tech-savvy people coupled with busy lifestyles,
especially of urban population, is driving the purchase of food for diabetics
through supermarkets/hypermarkets and online sales channel, though grocery
stores are expected to account for the more than half of the market share.
In
2017, category of baked products for diabetics dominated the market and
accounted for one-third of the market. The segment is expected to lead the
market in the coming years as well, owing to greater acceptance and easy
accessibility of baked products, especially biscuits, which is a highly
penetrated category with one of the highest frequencies of consumption. However,
fastest growth rate is anticipated to be exhibited by beverages for diabetes
patients, backed by introduction of different flavors and varieties in this
category coupled with gradual expansion of its distribution channel and hence
its customer base. Dabur India Ltd., PepsiCo India Holdings Private Limited,
Britannia Industries Ltd., Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), and Mother Dairy Fruits
and Vegetables Pvt. Ltd. are some of the major players operating in India food for diabetics market.
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“Number
of people falling prey to lifestyle related diseases such as diabetes and
cardiovascular problems in the country is increasing, owing to hectic and
almost sedentary lifestyle, growing stress levels, etc. Awareness about
availability of food for diabetics in India is still at a lower level in
comparison to other countries with high diabetes population. In order to tap
this, market players are taking initiatives to generate awareness and impart
knowledge about the benefits of their products, which is expected to increase
the penetration of food for diabetics in the country, thereby aiding the market
growth. Also, manufacturers and retailers of food for diabetics are focusing on
modern distribution channels and e-commerce industry to expand their customer
reach.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“India Food
For Diabetics Market By Product Type, By Distribution Channel,
Competition Forecast & Opportunities, 2013 – 2023” has
evaluated the future growth potential of food for diabetics market in India and provides statistics and information on market
structure, size, share and future growth. The report is intended to provide
cutting-edge market intelligence and help decision makers take sound investment
decision. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities present in India food
for diabetics market.
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