Global Statistics Representing Diabetes Supplement Market Scenario
Anti-diabetic supplements are widely used for controlling the blood sugar level. It increases the cell’s ability to utilize excess glucose, boosts the energy levels, speeds up the process of rejuvenation, improves the development of muscles, increases insulin production, and prevents abnormal weight loss. Currently, there are a number of anti-diabetic supplements available in the market, including Alpha-Lipoic Acid, Chromium, Cinnamon, Fenugreek, Probiotics, B Vitamins, and Vitamin D supplements. However, the stringent regulations guarding the manufacturing of diabetes supplements is likely to impede the market growth to some extent.
Globally, the prevalence of diabetes is increasing at an alarming rate. This can be attributed to the rising consumption of unhealthy food, sedentary lifestyle, growing obese population, increasing prevalence of cholesterol, cardiac diseases, and auto-immune diseases. As per the International Diabetes Federation (IDF), in 2019, about 450 million people aged 20–79 were suffering from diabetes, and the number is expected to reach around 700 million by 2045. Also, about 79% of the diabetic population resides in low and middle-income countries. Additionally, the global economic cost of diabetes is expected to reach USD 2.5 trillion by 2030 and the global economic burden of diabetes is expected to increase by 88%. As per the American Diabetes Association, in the U.S., the cost of diabetes was valued at USD 327 billion in 2018.
Current Market Trends
The global diabetes supplement market is expected to grow at a significant pace in the years to come on account of growing investments in the field by leading market players.
Preference of Local brands over Branded Supplements
The consumers in the diabetes supplement market are inclined towards purchasing supplements from local brands than branded products due to its safety and efficacy issues. For instance, in India, the people are shifting towards the use of sugar-free, gluten-free, zero carb, and probiotics supplements developed by local players, such as Himalaya, Dabur, and Patanjali Ayurveda Limited, among others, which is further boosting the market growth.
Growing Adoption of E-Commerce
In the last few years, the consumers have been inclining towards the purchase of supplements from a number of online stores as they are convenient and have a wide variety of products to choose from in the comfort of home. In line with this, several market players—including Amway and Herbal Nutrition—are offering their products online and are providing umpteen services, including on-time delivery and free shipping.
Fig: Factors Responsible for Diabetes Supplement Market Growth
Tablets to Dominate the Diabetes Supplement Market
Global, diabetes supplement market is segmented into supplements, type of dosage, distribution channel
By supplements, the diabetes supplement market is segmented into vitamin supplements, herbal supplements, minerals, proteins & amino acids, fibers & specialty carbohydrates, omega fatty acids, artificial sweeteners, and others. The vitamin supplements segment is projected to witness significant growth during the forecast period. It is used as a primary ingredient in diabetic supplements for its ability to strengthen the cellular reuptake of glucose in the blood. The vitamin supplements are gaining huge popularity among the prediabetes and diabetic patients and are consumed in the form of multivitamin tablets, powders, and liquids. The herbal supplements segment is expected to grow at a faster pace on account of the rising prevalence of metabolic disorders and growing concerns regarding the adverse effects of traditional medicines on health. Lastly, the fibers segment is expected to grow at a significant pace as it helps in lowering cholesterol levels, reduce weight and control blood sugar levels.
Based on the type of dosage, the market is segmented into tablets, capsules, powders, soft gels, liquids, and others. The tablet segment is dominating the diabetes supplement market due to its cost-effectiveness and easy packaging. Additionally, it is highly favored as it provides better shelf life and possesses fast-dissolving properties.
By distribution channels, the diabetes supplement market is segmented into hospital pharmacies, retail pharmacies, convenience stores, online pharmacies, and others. The retail pharmacies are grabbing the highest market share and will continue the same during the forecast period. On the other hand, the online pharmacies segment has been gaining huge demand due to increasing investment by major market players, which is further boosting the market growth.
Regionally, the global diabetes supplement market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa
North America is grabbing the largest share in the global diabetes supplement market. This can be attributed to the increasing prevalence of prediabetes and obesity and the rising geriatric population. As per the CDC, in the U.S. alone, around 84.1 million people (33.9% of the population) aged 18 and older suffered from prediabetes in 2015, and nearly 48.3% of the geriatric population suffered from prediabetes conditions. The U.S. is dominating the diabetes supplement market in North America. As per the Council for Responsible Nutrition (CRN), in the U.S., about 60% of the people consume diabetic supplements.
Europe is expected to be the second leading region in the global diabetes supplement market on account of the increasing prevalence of prediabetes and diabetes diseases, rising healthcare expenditure, growing consumption of unhealthy food, and rising prevalence of metabolic conditions. As per the British Diabetic Association, in 2017, around 3.1 million people suffered from diabetes. According to the International Diabetes Federation, Europe spent over USD 100 billion on diabetes in 2010, and the expenditure is expected to reach USD 125 billion by 2030.
The Asia Pacific is the fastest-growing diabetes supplement market. The region is housing the highest population suffering from diabetes and prediabetes diseases. To attend to the situation, the governments in the region are heavily investing in the healthcare sector to provide better treatment options, which is likely to boost the market growth to some extent. Additionally, the region is backed with the presence of leading contributors, i.e., China and India, where the population of diabetes is increasing at a concerning rate due to the rising prevalence of obesity and sedentary lifestyle. As per the National Urban Diabetes Survey, around 14% of the total population is suffering from diabetes in the region. Moreover, in India, the diabetic supplements market, including protein and herbal supplements, accounts for over 60% of the Indian market. This can be attributed to the increasing prevalence of chronic metabolic diseases and rising awareness regarding the maintenance of health among Indian consumers.
In China, around 47% of the population is suffering from prediabetes or diabetes, and the number is expected to grow by 2040. To attend to the dire situation, the government of China is heavily investing in the healthcare sector to provide better treatment options at reasonable prices. For instance, in 2018, the government of China invested around USD 105 billion in diabetes healthcare, as per the International Diabetes Federation (IDF).
Increasing the diabetic population and lack of awareness regarding the complications related to diabetes is increasing the overall mortality rate across South American. For instance, around 10.6 million people were living with undiagnosed diabetes in South America, as per IDF 2018. To address the situation, South American countries, including Argentina, Brazil, and Colombia, are providing universal health coverage to the people, which is further boosting the market growth.
The Middle East and Africa
The Middle East and Africa is emerging in the diabetes supplement market on account of the rapidly increasing prevalence of diabetes across the region. However, in the Middle East, growing urbanization, improving healthcare infrastructure, rising healthcare expenditure, and high disposable income are projected to drive the market growth to some extent. On the other hand, Africa holds the least share in the diabetes supplement market due to poor healthcare infrastructure, limited availability of funds, and low spending power in the region. However, the region is expected to gain momentum in the years to come on account of umpteen untapped opportunities.
Global diabetes supplement market is consolidates with the presence of leading players, including Caelus Health, Novo Nordisk, Nestlé Health Science, Abbott Laboratories, Pfizer, Danone Nutricia ,Arkopharma Laboratoires Pharmaceutiques, Uniliver, Glanbia, Pfizer, Archer Daniels Midland, Carlyle Group, NBTY Inc., Nu Skin Enterprises, GlaxoSmithKline, Herbalife International, NaturoGain, Nature’s Sunshine Forms, and Bio nova Lifesciences.
Diabetes Supplement Market Segmentation
By Supplements Types
By Dosage Form
By Distribution Channel
Frequently Asked Questions (FAQs)