Glucose Management Supplements Market by Form (Tablet, Softgel and Capsule), Glucose Management Supplements in the form of tablets are projected to grow at a CAGR of over 5.6% from 2023 to 2033.
Industry: Food and Beverages
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP33327
Newly-released Glucose Management Supplements analysis report by Persistence Market Research reveals that global sales of Glucose Management Supplements in 2022 were held at US$ 9.1 Billion. With a 6.1% projected CAGR from 2023 to 2033, the market is expected to reach a valuation of US$ 17 Billion by the end of the forecast period. Glucose Management Supplements in the form of tablets are expected to be the significant revenue-generating type and are projected to grow at a CAGR of over 5.6% from 2023 to 2033.
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Attributes |
Details |
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Global Glucose Management Supplements Market (2023) |
US$ 9.1 Billion |
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Global Glucose Management Supplements Market (2033) |
US$ 17 Billion |
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Global Glucose Management Supplements Market CAGR (2018 to 2022) |
4% |
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U.S Glucose Management Supplements Market CAGR (2023 to 2033) |
5% |
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Key Companies Covered |
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As per the Glucose Management Supplements Market Research By Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of Glucose Management Supplements increased by around 4% CAGR. With an absolute dollar opportunity of US$ 7.6 Billion during the forecast period, the market is projected to reach a US$ 17 Billion valuation by 2033.
Diabetes is becoming one of the most common noncommunicable chronic illnesses globally. According to the International diabetes federation, around 537 million adults worldwide in 2021 were suffering from diabetes. The number of adults suffering from diabetes around the world is expected to be around 644 million adults in 2030. Around 6 million deaths globally can be attributed to diabetes.
With approximately 540 million adults on the verge of developing type 2 diabetes, the market for Glucose Management Supplements is projected to expand during the assessment period.
Growing consumer awareness about the importance of leading healthy lifestyles has expanded the Glucose Management Supplements industry. Along with the rise in the geriatric population, there also has been a significant increase in the incidence of chronic illnesses such as diabetes among the adult population, which is a key factor expanding the Glucose Management Supplements Market.
People have grown aware of the adverse effects of diabetes and high blood glucose on the body, therefore, there has been a growing demand for the treatment as well as prevention of diabetes. Over time high levels of blood sugar level in the body can cause various problems such as stroke, heart disease, nerve damage, foot problems, and kidney diseases. This has led to a rise in demand for supplements that can control the sugar level in the body leading to the expansion of the glucose supplement market.
Approximately 537 million adults worldwide are currently having diabetes and it was responsible for around 7 million deaths worldwide in 2021. Around 540 million people worldwide are suffering from IGT (Impaired Glucose Tolerance), also known commonly as prediabetes, which places them at a high risk of high blood glucose-related diseases such as prediabetes or type 2 diabetes which is one of the most common forms of non-communicable diseases prevalent today.
The CDC (Centre for disease control and prevention) projects that the number of people suffering from diabetes can reach around 783 million adults. This has surged the demand for Glucose Management Supplements around the world providing a lucrative opportunity for the Glucose Management Supplements market to expand.
North America had a market size of US$ 3.6 Billion in 2022 and is estimated to reach a valuation of US$ 3.7 Billion in 2023. It is projected that North America will have a market worth US$ 6.8 Billion in 2033. The historical CAGR between 2018 and 2022 is 4%. The market is forecasted to grow at a CAGR of 6.1%.
According to the International Diabetes Federation, there were around 51 million adults with diabetes in 2021, and it is projected to rise to about 57 Million by 2030, and 63 million by 2045. According to the International Diabetes Federation, approximately 1 in 4 adults that are living in the region are undiagnosed with diabetes. Around 930,000 deaths in the region can be attributed to diabetes in 2021 and around US$ 400 Billion was spent on the treatment and medication of diabetes in the region.
Therefore, managing their glucose levels becomes very important for the people living in the region. North America is considered to be a significant market in the world because of the high prevalence and risk of diabetes and other diseases that are associated with high blood glucose levels such as cardiovascular disease and eye diseases. The market in the region is projected to expand significantly during the assessment period.
United States of America Glucose Management Supplements Analysis:
The Glucose Management Supplements Market in the United States is expected to grow to be worth US$ 5.3 Billion with an absolute dollar growth of US$ 2.1 Billion till 2033. The Glucose Management Supplements Market in the United States has grown at a CAGR of 2.6% from 2018 to 2022 and is expected to grow at a CAGR of 5% from 2023 to 2022.
The United States has the most prominent number of people suffering from diabetes in the world. Around 11% of the population in the U.S. were diagnosed with diabetes in 2022 and around 38% of the population has prediabetes that can turn into type 2 diabetes without treatment. Due to the significant number of people diagnosed with diabetes in the United States, the market for Glucose Management Supplements is projected to expand during the assessment period.
India Glucose Management Supplements Analysis:
Approximately around 82 million people in India are currently diagnosed with diabetes. It is projected that around 98 million people will be affected by diabetes by 2030. The rise in the number of diabetic patients in the country can be attributed to the surge in the popularity of fast food and processed food along with the sedentary lifestyle of the people.
The rise in the cases of diabetes and prediabetes can be attributed to the sedentary lifestyle as well as unhealthy eating habits among the urban population of the country. The rise in the diabetic population in the country and increased spending on healthcare is expected to provide a lucrative opportunity for the glucose supplement market and the market is projected to grow during the assessment period.
Canada Glucose Management Supplements Analysis:
There are around 5.7 million Canadians that are diagnosed with diabetes and around 11 million adults are currently prediabetic in the country. There has also been a surge in people looking for supplements to manage their blood glucose levels, providing a lucrative opportunity for the market to expand during the assessment period.
China Glucose Management Supplements Analysis:
The market in China is expected to grow to be worth US$ 1.5 Billion with an absolute dollar growth of US$ 721.1 Million from 2023 to 2033. The market in China has grown at a CAGR of 5.5% from 2018 to 2022 and is expected to grow at a CAGR of 7.1% from 2023 to 2033.
In 2021 around 141 million adults in China were suffering from diabetes. The number of people living with diabetes has risen by around 20 % in the past 2 years. About 1.5 million deaths were attributed to diabetes in the country which is the highest in the region. It is estimated that around 50% of the adults living in the country are currently undiagnosed with diabetes. This provides a lucrative opportunity for Glucose Management Supplements manufacturers and the market is projected to expand during the assessment period.
South Korean Glucose Management Supplements Analysis:
The market in South Korea is expected to grow to be worth US$ 685.8 Million with an absolute dollar growth of US$ 320.5 Million from 2023 to 2033. The market in South Korea has grown at a CAGR of 4.7% from 2018 to 2022 and is expected to grow at a CAGR of 6.5% from 2023 to 2033.
Around 6 million adults in South Korea, are living with diabetes and around 16 million people are at risk of developing diabetes. The rise in the geriatric population in the country is the primary factor for the rise in the number of diabetes patients in the country. With the rise in the number of people being diagnosed with diabetes in the country, the market for Glucose Management Supplements is projected to expand during the assessment period.
Why Glucose Management Supplements are Preferred in Tablets Form?
Glucose Management Supplements in the form of Tablets are projected to witness a significant CAGR of 3.9% from 2018 to 2022 and are expected to grow at a CAGR of 5.6% from 2023 to 2033.
Tablets are the preferred form of Glucose Management Supplements among the population. This is due to its fast-dissolving properties as well as easy packaging and its cost-effectiveness. It also offers a better shelf life and acts significantly faster than other forms of supplements.
Which Sales Channel of Glucose Management Supplements is Expected to be Most Lucrative?
The market through retail sales is projected to witness prominent growth with a CAGR of 3.8% from 2018 to 2022 and is expected to grow at a CAGR of 5.1% from 2023 to 2033.
Retail sales are projected to expand significantly during the assessment period due to the rise in the popularity of supplements among the population. People prefer to buy supplements from retail stores such as pharmacies as they are physically able to select the supplement that suits them. Buying supplements does not generally require a prescription.
A person buying from a retail sales channel can also clarify their doubts regarding the supplement from the salesperson, thus increasing their confidence in the supplement. However, the market through online sales is also witnessing significant growth.
The players in the market are mostly involved in partnerships, acquisitions, and FDA approvals. The key players in the market include NOW Foods, Life Extension, GNC, Natrol, Nature Made, Nature's Bounty, Zenith Labs, Blackmores, Pure Encapsulations, Doctor's Best, Spring Valley, Best Naturals, Thorne, Solgar, and Nutricos.
By Form
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The global market was worth US$ 9.1 Billion in 2022.
The global market is projected to witness a market size of US$ 9.4 Billion in 2023.
The market valuation by 2033 is projected to be worth US$ 17 Billion.
The CAGR growth of the market over the last 4 years was 4%.
The projected CAGR for Glucose Management Supplements is 6.1%.
The market through retail sales will garner a significant value share by 2033.
