New York, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Ottawa, Sept 28, 2021 (GLOBE NEWSWIRE) – The global digestive health products market is anticipated to grow with a compound annual growth rate (CAGR) of 8.5% during the forecast period 2021 to 2030.
Digestive health products helps in improving human digestive health and preventing digestion related diseases such as irritable bowel syndrome, inflammatory bowel disease, constipation, colic, and ulcerative colitis. According to a study, around 40% of the global population suffers from gastrointestinal diseases. Therefore, the growing prevalence of digestion related diseases is a major factor boosting the growth of the digestive health products market. Moreover, growing investments and innovative product launches by the key manufacturers are propelling the market growth.
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Crucial factors accountable for market growth are:
- Growing incidence of gastrointestinal diseases
- Growing geriatric population
- Unhealthy food habits
- Busy and hectic lifestyle of the consumers
- Growing popularity of e-commerce
- Growing consumer expenditure of healthcare products and supplements
- Frequent product launches by the market players
- Rising consumer awareness regarding the intestinal diseases
Scope of Digestive Health Products Market Report
| Report Metrics | Details |
| Market Size in 2030 | US$ 72.5 billion |
| Growth Rate from 2021 to 2030 | CAGR of 8.5% |
| Base Year | 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Ingredients, Product, Delivery Format, Distribution Channel |
| Regional Scope | North America, APAC, Europe, Latin America, MEAN, Rest of the World |
| Companies Mentioned | Cargill, Inc., Arla Foods, Inc., Danone A.S., PepsiCo, Inc., Yakult Honsha Co., Nestle SA, AST Enzymes, Beroni Group, Danisco AS, Chr. Hansen Holding |
Regional Snapshots
North America dominated the global digestive health products market in 2020 and projected to augment the market in the coming years. The major factors attributed for its growth includes high disposable income, increased consumer awareness regarding the availability of various digestive health products, and higher penetration of internet and e-commerce platforms. The presence of few major manufacturers and their aggressive marketing strategies had augmented the digestive health products market in the region.
Asia Pacific is projected to be the fastest growing market in the forthcoming years. The prime factor attributed to this is proliferating penetration of smart phones, rising number of internet users, growing penetration of e-commerce, along with the developing infrastructure for distribution. Asia Pacific is highly populated, providing a huge number of customers. Furthermore, the food & beverages industry is growing rapidly in the region, which is expected to propel the growth of the digestive health products market during the forecast period.
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Report Highlights
- Probiotics segment led the global digestive health products market with 75% revenue share in 2020. Rising awareness regarding the health benefits of consuming probiotics among the consumer is augmenting the growth of the segment.
- By Product, in 2020, Dairy Products dominated the market 55% in terms of revenue of the total market. The sedentary lifestyle of the consumers, demand for healthy food habits, and increased consumer awareness regarding the nutritional benefits of dairy products has led the dairy product segment to become the leading segment in the past few years.
- By Delivery Format, in 2020, capsules dominated the market in terms of revenue of the total market. The busy and hectic lifestyle of the consumers is resulting in unhealthy food habits. Hence the consumption of capsules increased due to its easy availability, convenience, and intestinal benefits.
- By Distribution Channel, in 2020, pharmacy stores dominated the 60% revenue share of the total market. This is attributable to the high demand for the capsules and tablets of digestive health products among the population.
Market Dynamics
Driver
Rising demand for nutritional supplements is one of the key factors driving the growth of the digestive health products. The rising participation of women in corporate and other work fields is an important factor due to which consumers are unable to maintain healthy diet. Further, the growing penetration of fast food restaurant chains have resulted in growing unhealthy food habits among the consumers. Therefore, to cater the basic nutritional and dietary needs, consumers are opting for dietary supplements. These dietary supplements fulfil the fiber needs of the consumers and help to prevent intestinal disorders.
Related Reports
- Nutraceutical Ingredients Market - The global market was valued at US$ 161.2 billion in 2019 and expected to reach US$ 225.7 billion by 2027, with at a compound annual growth rate (CAGR) of 7.3% during the forecast period 2020 to 2027.
- Dietary Supplements Market - The global market size was valued at US$ 141.2 billion in 2020 and expected to hit US$ 279.2 billion by 2030, with a CAGR of 8.4% during the estimate period 2021 to 2030.
- Food Safety Testing Market - The global market size reached at USD 17.43 billion in 2019 and projected to hit over USD 32.21 billion by 2027, at a CAGR of 7.2% during forecast period 2020 to 2027.
Restraint
There are certain strict government norms regarding the use of prebiotics and probiotics that the manufacturers have to face. The manufacturing of digestive health products needs to be approved by the regulatory authorities undergoing some trials and approval of the product before reaching to the market. The strict and stringent government norms may restrain the growth of the market. Moreover, the lack of awareness regarding the products in developing markets is another restraining factor.
Opportunities
The probiotics are providing opportunities for growth. Probiotics are linked with the innovation in functional food & beverages and new delivery formats. Probiotics is enabling the consumers to include it in their regular diets at low cost. Probiotics like LactoSpore can remain stable for upto three years thus providing long shelf life to the digestive health products.
Challenges
The lack of awareness regarding the different digestive health products especially in the developing market such as India, China, and Brazil is a major challenge that needs to be tackled by the market players. The marketing and promotional activities may help in tackling this challenge.
Recent Developments
- In April 2018, SundyotaNumandis, a key player in the healthcare solutions industry partnered with an Italian company to launch Lactobacillus rhamnosus in India. Lactobacillus rhamnosus is a probiotic product that led to the growth of the digestive health products market in Asia pacific region.
- In August 2020, OptiBiotix Health renewed its agreement with its partners for promoton and marketing of probiotics supplements.
- In September 2020, GT Living Foods, declared its participation in the functional beverages industry with Aqua Kefir.
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